Epiq counted 25,467 commercial filings from January through September 2026, up 7% from the same period in 2025.
This article focuses on U.S. companies. Each entry below carries the proceeding type, court, and latest verified event, with research current to October 20, 2026. We cover definitions, a current list, industry patterns, stakeholder effects, and how to verify and monitor cases.
Key Takeaways
- A bankruptcy filing is not automatic closure: Chapter 11 can end in reorganization, a sale, or liquidation.
- A useful entry names the legal debtor, filing date, court, chapter, and latest status.
- Verify through court dockets, company disclosures, and reputable reporting.
- Platforms such as BankruptcyData connect filings with distress signals, stakeholders, and outcomes.
How to Read a Bankrupt Companies List
What "bankrupt company" means
Bankruptcy is a court-supervised process under Title 11 of the U.S. Code. "Bankrupt" is a casual label for a debtor in that process. Related terms mean different things:
- Insolvency: a financial condition where liabilities exceed assets or debts can't be paid when due.
- Default: a missed obligation under a specific agreement.
- Liquidation: selling assets to pay claims.
- Restructuring: reorganizing debts, either in court or through an out-of-court workout.
A company often keeps operating during Chapter 11, with management running the business as debtor in possession while creditors, lenders, and the court work toward a plan.
Chapter 7, Chapter 11, and Chapter 15
Each chapter signals a different path:
- Chapter 7: Liquidation. A trustee sells the assets and the business generally stops operating.
- Chapter 11: Usually reorganization, though a plan can also liquidate assets. Debtors typically stay in control unless the court appoints a trustee.
- Chapter 15: U.S. recognition and assistance for a foreign insolvency proceeding. It is ancillary to the main case abroad, so do not treat it as the equivalent of a domestic Chapter 7 or 11 filing.
What belongs in each entry
A consistent entry includes:
- Legal debtor name and commonly known brand
- Filing date, court, and chapter
- Industry and headquarters
- Publicly reported driver of the filing
- Latest status with a date
Date the latest status. Useful labels include operating under protection, acquired, emerged, liquidating, dismissed, converted, or needs confirmation.
Separate the debtor from its parent, subsidiaries, and brands. A headline name like "Saks," for example, can cover many affiliated entities.
Bankrupt Companies List
How this list is organized
The table runs newest filing first, "last verified" October 20, 2026. It is a representative cross-section, not an exhaustive record, and it won't capture every private or non-U.S. proceeding. Each entry rests on documented court or company sources. Where a cause isn't established in those sources, the table says so.
| Filing date | Lead debtor / brand | Sector | Chapter, court | Latest verified status |
|---|---|---|---|---|
| Jan. 13, 2026 | Saks Global Enterprises LLC (Saks, Neiman Marcus, Bergdorf Goodman) | Retail | Ch. 11, S.D. Texas | Plans confirmed June 5, 2026: liquidation for specified Saks OFF 5TH digital debtors, reorganization for the rest |
| Aug. 29, 2025 | Spirit Aviation Holdings, Inc. (Spirit Airlines) | Transportation | Ch. 11, S.D.N.Y., No. 25-11897 | Docket activity as recently as Oct. 16, 2026; a repeat filer after emerging Mar. 12, 2025 |
| Sept. 2025 | First Brands Group, LLC | Manufacturing | Ch. 11, S.D. Texas | Converted to Chapter 7 by order effective Sept. 1, 2026 |
| June 8, 2025 | Sunnova Energy International Inc. | Energy | Ch. 11, S.D. Texas | Plan confirmed Nov. 12, 2025 after asset sale; orderly wind-down |
| Mar. 31, 2025 | Hooters of America, LLC | Restaurants | Ch. 11, N.D. Texas, No. 25-80078 | Plan effective Oct. 31, 2025 |
| Mar. 23, 2025 | 23andMe Holding Co. | Technology | Ch. 11, E.D. Missouri | Sale to TTAM approved June 30, 2025; debtor now styled Chrome Holding Co. |
| Jan. 15, 2025 | JOANN Inc. | Consumer products | Ch. 11, D. Del., No. 25-10068 | Wind-Down Debtors; assets sold to a liquidator |
| Jan. 11, 2025 | Prospect Medical Holdings, Inc. | Healthcare | Ch. 11, N.D. Texas, No. 25-80002 | Substantive hearing set for Oct. 27, 2026 |
The First Brands petition date isn't given in the company's September 29, 2025 release, so confirm it on the docket.
Notes on specific cases
- Saks: the court declaration cites year-end payments, seasonal liquidity lows, the $2.7 billion Neiman Marcus acquisition, and inventory integration problems that cut the borrowing base.
- First Brands: the company called its filing an effort to stabilize operations and pursue a value-maximizing transaction. That's a stated objective, not an established root cause.
- Hooters: the court closed 11 affiliated debtor cases effective December 31, 2025, which doesn't mean every affiliate case closed.
- Spirit: a repeat filing, since the company had emerged from its earlier case only months before.
- FRC Balance, LLC: a Scottsdale, Arizona health-focused restaurant chain, it filed Chapter 11 on October 5, 2026 with $42.1 million of funded debt after closing 12 restaurants, and pursued a court-supervised sale. Confirm the court and docket before relying on it.
Historical context
Older cases show how long these stories run. Enron (2001), Lehman Brothers Holdings (September 15, 2008), and WeWork (plan effective June 11, 2024) all filed under Chapter 11. In the 1980s and early 1990s, LTV, Eastern Airlines, Continental Airlines, Federated Department Stores, and Pan Am filed too.
Don't call a company permanently closed, rescued, or fully liquidated unless a source confirms it.
What Recent Corporate Bankruptcies Reveal
Industry and business-model patterns
S&P Global Market Intelligence counted 55 U.S. corporate filings in February 2026, down from a revised 58 in January. Through February it logged 113 filings versus 129 a year earlier.
Its dataset covers public-debt companies with at least $2 million in assets or liabilities and private companies with at least $10 million. Consumer discretionary and industrial sectors together had at least 21 filings through February.
Our list shows recurring pressures:
- Retail: acquisition debt, seasonal liquidity, inventory disruption (Saks)
- Manufacturing: a transaction-driven filing that ended in liquidation (First Brands)
- Healthcare and energy: large, complex estates ending in sales or wind-downs (Prospect, Sunnova)
Macro pressures and company-specific issues
Interest rates, inflation, credit access, labor costs, and shifting consumer behavior all affect debt service. But the evidence doesn't isolate one cause.
Epiq said cost pressures were pushing more small businesses toward Subchapter V without separating out rates, inflation, or labor. Saks shows the typical mix: an external seasonal squeeze layered on company-specific acquisition obligations.
Repeat filings and outcomes
Companies sometimes file more than once. Bankruptcy also lets them sell assets, renegotiate obligations, reject contracts, and cut debt. "Chapter 22" is the unofficial term for a second Chapter 11 filing.
Outcomes diverge. Saks split between reorganization and liquidation plans, JOANN was liquidated, First Brands converted to Chapter 7, and Sunnova's plan follows an asset sale.
S&P found 436 of 695 filings in 2024 (62.7%) sought reorganization. That is intent at filing, not the share that ultimately reorganized.
Reading a filing as a risk signal
A filing is a confirmed legal event. Missed payments, covenant breaches, layoffs, store closures, and advisor hires may come earlier and need separate verification.
When judging significance, weigh:
- Timing and capital structure
- Secured versus unsecured claims
- Court activity and stakeholder moves
What Bankruptcy Means for Stakeholders
Creditors, suppliers, and counterparties
If you're owed money:
- Identify the case number and debtor entity.
- Read court notices.
- Preserve invoices and contracts.
- Check the proof-of-claim bar date.
Bar dates are case-specific. JOANN's general claims bar date was April 4, 2025, and Prospect's was January 14, 2026.
Recovery depends on whether a claim is secured by collateral, its statutory priority, and the confirmed plan or liquidation outcome. Get legal advice for case-specific decisions.
Employees, customers, and communities
Effects vary by case. A filing can touch wages, benefits, deposits, warranties, store locations, service continuity, and local jobs.
Priority protection is limited: §507(a)(4) covers qualifying wages earned within 180 days before filing, up to a cap, and §507(a)(7) covers certain individual consumer deposits, also capped. Neither is a blanket priority for all deposits.
Investors and distressed-debt researchers
Track these documents and events:
- First-day motions and DIP financing (§364)
- Official creditors' committee appointments
- §363 sale procedures
- Disclosure statements and plans
- Objections, confirmation, and distributions
For a nonconsensual plan, the absolute priority rule generally keeps junior interests from receiving value ahead of a dissenting senior unsecured class that isn't paid in full.
How to Research and Monitor Bankruptcy Cases
Verification workflow
Start with primary records, then corroborate:
- Pull the docket from the court or PACER, which charges $0.10 per page, capped at $3 per document. Opinions are free.
- Check the claims agent site (Kroll, Stretto, Epiq, or Omni) for notices and bar dates.
- For public companies, search EDGAR for Form 8-K Item 1.03, which is generally due within four business days.
- Compare with investor-relations announcements and reputable reporting.
Treat news articles and lists, including this one, as starting points. Confirm legal entity names, filing dates, claims deadlines, and outcomes against the record.
Tracking a case past the petition
Track these milestones in order:
- Petition and first-day motions
- DIP financing and committee appointment
- Schedules and bar date
- Plan and disclosure statement
- Voting and confirmation
- Effective date, sale, reorganization, or wind-down
Initial plan exclusivity is 120 days to file and 180 days to win acceptance, subject to court extension.
Log the source date and status of every update. That separates newly filed cases from older ones with major developments.
BankruptcyData as a research resource
BankruptcyData, a Massachusetts-based provider founded in 1986, offers a subscription platform built for ongoing case research and monitoring. Coverage includes:
- Filings, docket activity, alerts, and customizable notifications
- 600k+ records spanning 45+ years of U.S. bankruptcy activity
- Early distress signals, stakeholders, advisors, restructuring timelines, and outcomes
For enterprise teams, it supplies licensed datasets, data delivery, API integrations, and MCP connectivity for analytics and AI workflows. It supports professional research but does not replace legal advice or primary court records.
Frequently Asked Questions
What companies have filed for bankruptcy recently?
See the table above, which is sorted newest first with court, chapter, and latest verified status. Filter by filing date and confirm each case on the court docket.
What is the difference between Chapter 7 and Chapter 11 bankruptcy?
Chapter 7 generally means liquidation by a trustee. Chapter 11 generally lets an eligible business reorganize while operating under court supervision.
Does filing for bankruptcy mean a company is going out of business?
Not necessarily. A company may restructure, sell assets, emerge, or keep operating under a confirmed plan. Others, like JOANN, do liquidate.
How can I find out if a company has filed for bankruptcy?
Check the relevant court docket or PACER, then confirm the legal entity, case number, and filing date through company or SEC disclosures.
What happens to creditors when a company files for bankruptcy?
Creditors may need to file a proof of claim by the bar date. Payment depends on claim priority, collateral, available assets, and the eventual plan or liquidation.
How often is a bankrupt companies list updated?
Whenever new filings or major milestones occur, with a visible last-verified date. Recheck entries whose status may have changed. This list was last verified October 20, 2026.
