Businesses

CNN -  A new report shows that many small and mid-sized businesses in the US are struggling to survive. Nearly 350 companies in the US filed to either liquidate or re-organize through bankruptcy in the first six months of 2024, the highest half-year level since 2010, according to data from S&P Global Market Intelligence. Most of the impacted businesses are considered "consumer discretionary," a broad category of firms that sell goods or services that people don't need every day, such as restaurants, clothing stores and car dealerships. Consumer demand has slowed while interest rates are at their highest level in nearly a quarter century, which is squeezing businesses that rely heavily on borrowing to purchase equipment, replenish inventory, meet payroll and expand operations, to name a few key reasons.