U.S. Bankruptcies: “It’s Different Than Anything I’ve Seen”

Former Home Depot CEO Bob Nardelli is an astute observer of the U.S. economy and in an interview on Fox Business, he discussed the financial pressures faced by many U.S. companies.

Specifically, he noted Bed, Bath and Beyond’s risk of bankruptcy, the closing of Wal-Mart stores as well as layoffs at the retail giant, the closing of distribution centers by Amazon and layoffs at Accenture.

Here’s the April 14 Fox Business headline:

Former Home Depot CEO issues grim warning over US bankruptcies: ‘It’s different than anything I’ve seen’

Nardelli expects a wave of bankruptcies ahead and says “middle market” companies are especially vulnerable.

The March Elliott Wave Financial Forecast commented on bankruptcies as the publication showed this chart:

The chart shows the number of companies with at least $50 million in liabilities filing for bankruptcy in January. The red line marks the latest total of 22, which is already the most since the wake of the Great Recession in 2010.