If there’s a silver lining to the spat of large corporate bankruptcies that have dominated headlines this year, it’s that many of them may ultimately be written off as failures of management. Bed Bath & Beyond admitted it hadn’t fully grasped the potential of online shopping. Silicon Valley Bank failed because of the bank’s inability to manage risk, federal regulators said. Crypto lender Genesis Trading tied up funds in now-bankrupt firms FTX and Three Arrows Capital and picked a fight with the Securities and Exchange Commission.

But if you dig into the country’s busiest bankruptcy court dockets, you’ll find a much more diverse swath of corporations across the U.S. reeling from market conditions that were either prompted or exacerbated by the COVID-19 pandemic. Some were impacted directly while others are now feeling the universal squeeze of rising interest rates that followed the inflationary period and monetary stimulus caused by the pandemic.

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