More in store?
U.S. commercial bankruptcy filings jumped 72% to 6,569 in 2023, primarily due to increased interest rates, tougher lending standards and pushback from the pandemic. "These facts teach investors a timeless lesson," SA Investing Group Leader Value Digger declared. "Investors need to avoid the leveraged (indebted) companies (i.e. REITs, utilities etc.) and buy companies with fortress balance sheets including ZERO leverage, if they want to sleep well at night." Among the notable firms that filed for bankruptcy last year were Yellow Corporation (OTC:YELLQ), Rite Aid (OTC:RADCQ) and Bed Bath & Beyond (OTCPK:BBBYQ) as well as SPACs like WeWork (OTC:WEWKQ), Lordstown Motors (OTC:RIDEQ) and Bird Global (OTC:BRDSQ).
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