Without naming names expliclity, this list actually catupures two bankruptcies that caused downstream credit issues for me specifically: https://www.thestreet.c

Without naming names expliclity, this list actually catupures two bankruptcies that caused downstream credit issues for me specifically: https://www.thestreet.com/economy/most-notable-business-bankruptcies-of-the-year https://www.thestreet.com/economy/most-notable-business-bank... Two of the three billion dollar retail bankruptcies have affected me personally. Because when companies like this go bankrupt, so do (effectively) the distirbutors that supplied them, many of which have accounts payable finanacing. So while everyone else in the chain isn't bankrupt yet, the banks are now the ones determining who gets paid and who doesn't. Only the largest obligations get paid. Everyone else gets shafted until the lawsuits start, and then the bankruptcy is declared—but this takes time. It's like being terminal and on life support. This has the odd side effect of sometimes boosting the revenue of the largest suppliers. The smaller suppliers that aren't getting paid stop shipping. Thus, the relatively availablity of items from the largest suppliers increases. Production slighting goes up, and orders to raw material good suppliers increase as a result. It looks like sales are actually improving, but what's happening is the inflation before the pop. And because the biggest suppliers are often the ones publicly listed, it really does look like things are improving from publiclly available data. Retail can sometimes ride the wave for a while, but it eventually crashes. Right now many companies are gearing up to try to ride the wave through holiday. This is why you should expect retail bankrupcties to pop in Q1/Q2. Retail bankruptcies are brutal beause there are so many people in the chain and they all effectively rely on the creditworthiness of the most downstream business. That's just how it is. It totally screws upstream distibutors almost immediately, which puts manufactuers in a dire position—do you keep shipping to someone who can't pay? Everyone kind of just pretends to operate like normal, but it's a death spiral that can't really be overcome, especially when debt burns and future costs are increasing. In an inflationary enviroment sales will just never be able to catch up. I am in a pretty tight bind right now. I know there is another major retail bankrtupcy that's about to happen and I have large AR with them specifically. When (not really if) they declare bankruptcy, probably early-to-mid next year, it will crush me and force me to radically change my business just to surivive. You can bet that, unless something changes dramatically between now and year's end, there will be a wave of even more serious retail bankruptcies in 2025. It really should not be surprising. Retail—IN PARTICULAR—refinciancned and renegoiated in 2020 becuase of the closures. A lot of that is going to start rolling over next year.