Bob Nardelli, the former CEO of Home Depot, is warning about more bankruptcies hitting the U.S. economy, and blames lawmakers for their delay in coming to terms regarding the country's debt ceiling.
"I think we're going to see a lot of bankruptcies. Like Bed, Bath, and Beyond. We got Walmart not only laying people off but closing stores. We got Accenture laying people off. We got Amazon closing distribution centers. So, I think there's a tremendous-mixed message," Nardelli said in an April 14 interview with Fox.
Bankruptcy filings across the United States rose for the third straight month in March in all major industries.
A total of 42,368 new bankruptcies were filed last month, according to data from Epiq Bankruptcy, a provider of U.S. bankruptcy court data, technology, and services.
Data from S&P Global Market Intelligence showed 71 corporate bankruptcy petitions in March, a jump from 58 in the previous month.
First-quarter corporate bankruptcy filings came in at 183, which is "More than any comparable period in the past 12 years," S&P Global said.
"Perceptions of credit access compared to a year ago deteriorated in March, with the share of households reporting it is harder to obtain credit than one year ago rising and reaching a series high," according to an April 10 press release.
https://www.theepochtimes.com/were-going-to-see-a-lot-of-bankruptcies-former-ceo_5197083.html
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