WeWork to File for Bankruptcy as Corporate Failures Rise in 2022
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WeWork reportedly planning to file for Chapter 11 bankruptcy next week per Wall Street Journal.
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Bankruptcies have been increasing in 2022, with Q3 having the most so far at 182 filings.
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Healthcare sector saw the most bankruptcies in Q3, marking the second straight month as top sector.
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Many bankrupt firms were "zombie" companies staying afloat via debt rather than profits.
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Higher interest rates adding pressure, similar to impact on government debt costs.