US bankruptcies are riding rapidly:

275 large companies have declared bankruptcy through May of this year, the 2nd highest since 2010.

Over the last 14 years, only 2023 saw a higher count of bankruptcy registrations, at 277.

In May 2024 alone, 62 firms have gone bankrupt, the 3rd largest monthly number since 2020.

Most bankruptcies have been seen in consumer discretionary companies as Americans continue scaling back their spending.

Red Lobster is one of the notable examples which just filed bankruptcy.

More signs of economic weakness are emerging.