Predictions of an uptick in bankruptcy filings came true this year, and South Florida lawyers in the space are expecting a steady continuation into 2024, with the use of alternative approaches continuing to increase.

Bankruptcies this year accelerated compared with last year, according to Cornerstone Research. The wave of bankruptcies took out big names such as Silicon Valley Bank and Bed Bath & Beyond. The trend was particularly pronounced within the crypto sector, and with Subchapter V filings enabling small businesses to reorganize more easily, smaller companies also saw more cases.

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