Bankrupt catalog retailer AmeriMark Interactive LLC told a Delaware federal judge Tuesday that it had a successful auction that resulted in a pair of transactions valued at around $97 million and that it was finalizing asset purchase agreements with the winning bidders.
One would not know it from looking at the S&P which just hit a 2023 high, but there is a bit of a bankruptcy crisis sweeping the US where companies are filing for bankruptcy at the fastest pace in 13 years, in a clear sign of a tightening credit.
Corporate bankruptcies are once again increasing after a two-year lull as pressures on the American economy continue to eat into the profit margins of large, medium and small businesses alike. [.]