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U.S. corporate bankruptcy filings soared in June, according to new data from S&P Global Market Intelligence.

The rating agency reported that 75 new corporate bankruptcies were filed last month, pushing the first-half total to 346 — the highest level in 13 years.

“The pace accelerated from the first months of 2024 and is rivalled by only the busiest months in 2020, when the shock from Covid-19 pushed a relatively higher number of companies into bankruptcy,” S&P said.

“High interest rates, supply chain issues and slowing consumer spending continue to weigh on struggling companies,” the report said.

The consumer discretionary sector has suffered the most, with 55 bankruptcies reported so far this year, including 16 filed in June.

The health-care and industrial sectors ranked second, with 40 filings in each so far this year.

S&P noted that nine industrials sought bankruptcy protection in June, and seven health-care companies filed during the month.