Bankruptcy filings surged last year. Here's what's behind the rise
The increase in bankruptcy filings comes as Americans face a slate of economic pressures, from sticky inflation to elevated borrowing costs.
Chapter 11 Bankruptcy
These national and regional retailers went out of business in 2025
More than 8,000 stores closed across the U.S. this year, according to retail industry data, including these well-known brands.
Spirit shares plunge after airline warns it's facing cash crunch
Just months after emerging from Chapter 11 bankruptcy, Spirit Airlines is warning about its ability to stay in business.
Bed Bath & Beyond brand returns with new store in Nashville
The first Bed Bath & Beyond Home store will open Friday in Nashville, where shoppers will be able to use legacy coupons to get discounts.
Layoffs across the U.S. reach highest level since 2020. Here's why.
Companies have reported more than 744,000 job cuts this year — the highest figure since the first six months of 2020, according to an outplacement firm.
Del Monte Foods files for bankruptcy as it seeks to rebuild brand
Del Monte Foods, producer of canned fruits and vegetables, initiatied Chapter 11 proceedings on Monday and is seeking a buyer.
At Home retailer files for bankruptcy. Here are stores that will close.
As part of the bankruptcy proceedings, 26 At Home stores across the United States will close.
Hooters files for bankruptcy but says it's "here to stay"
Hooters, the U.S.-based restaurant chain known for chicken wings and "Hooters Girls" skimpy wait-staff outfits, has filed for bankruptcy protection.
How inflation is changing Americans' dining habits
Hooters is the latest casual restaurant chain to file for bankruptcy. Inflation has Americans changing their dining habits. Kelly O'Grady explains.
Joann closing all of its remaining stores and going out of business
Fabric and crafts retailer Joann is closing all of its remaining stores after failing to find a buyer that would keep them open.
The Container Store says it's filing for bankruptcy protection
The Container Store said it is filing for bankruptcy protection after years of losses and declining sales.
Party City files for bankruptcy, a day after announcing mass layoffs
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
TGI Fridays files for bankruptcy, as sit-down chain restaurants face challenges
TGI Fridays Executive Chairman Rohit Manocha said "COVID-19 and capital structure" were the primary drivers of the chain's financial challenges.
Tupperware's bankruptcy filing marks end of an era
Tupperware, the iconic brand that was once a staple of American kitchens, filed this week for bankruptcy, citing what it called "macroeconomic challenges." Nancy Chen takes a look at the role it played in defining American innovation.
Red Lobster closing nearly two dozen more restaurants. Here's where.
Seafood chain declared bankruptcy in May after struggling with slowing growth and mounting competition.
Buca di Beppo goes bankrupt. Here are the restaurants that are closing.
Some of Buca di Beppo's nearly 20 shuttered locations are in states including Arizona, Michigan and Pennsylvania.
Romance Writers of America falls into bankruptcy amid allegations of racism
Authors complained for years that the organization was predominantly White — causing membership to plummet.
Red Lobster files for Chapter 11 bankruptcy protection
Red Lobster's owner has said the pandemic and rising costs hurt the seafood chain's financial performance.
Joann files for bankruptcy amid consumer pullback and higher costs
The retailer that caters to quilters and crafters also said it has been weighed down by higher tariffs from China.
Rudy Giuliani files for bankruptcy
Former New York City Mayor Rudy Giuliani filed for bankruptcy protection Thursday after a Washington jury ordered him to pay $146 million to two Fulton County, Georgia, election workers for defamation. Robert Costa reports.
Bishop: Sacramento Diocese to seek bankruptcy protection after over 250 lawsuits claim sexual abuse
The Diocese of Sacramento will seek Chapter 11 bankruptcy protection after more than 250 lawsuits claiming sexual abuse by clergy and other staff, Bishop Jaime Soto said.
Rite Aid is closing more than 150 stores. Here's where they are.
Rite Aid said it plans to shutter 154 locations across the nation, with many of the stores slated for closure in California and Pennsylvania.
San Francisco Archdiocese files for bankruptcy
The Archdiocese of San Francisco joins a growing list of dioceses across the United States that have filed for protection under the bankruptcy laws.
Update: Archdiocese of San Francisco files for Chapter 11 bankruptcy over child abuse lawsuits
The Archdiocese of San Francisco is officially filing for Chapter 11 bankruptcy in the wake of numerous claims of child sexual abuse allegedly committed by priests filed against it, according to an announcement Monday.
Yellow files for bankruptcy following $700 million pandemic bailout
The trucking company laid off employees and ceased operations last week, in preparation of the bankruptcy filing.
Live
Trump says "Clock is Ticking" for Iran as shaky ceasefire continues
President Trump said "there won't be anything left of them" if Iranian leaders do not "get moving, FAST."
CBS News poll finds many voice frustration with Trump's economic approach
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
Taiwan representative to U.S.: "We're not the ones creating all this trouble"
Taiwan's representative to the U.S. Alexander Yui said on Sunday that "we want peace and stability" as Taiwan became among the most closely-watched issues in last week's summit.
Finnish divers join search for bodies of 4 Italian divers in the Maldives
The search for the remains of the four Italian divers was suspended Saturday, after a Maldivian military diver died.
Ebola outbreak in Congo and Uganda declared global health emergency
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
At least 4 killed by Ukrainian drone strikes on Russia
Russian defenses shot down 81 drones headed for Moscow overnight, state agency Tass reported, citing Sobyanin.
Letlow, Fleming advance to runoff in Louisiana GOP Senate primary, CBS News projects
Incumbent GOP Sen. Bill Cassidy, who had occasionally broken with the Trump administration, lost his bid for a third term.
Is the answer to the housing crunch right in your own backyard?
Accessory Dwelling Units, or ADUs, are small, fully-functional secondary homes located on the same property as a main home, usually in the backyard, filling a vital need where housing has proved scant or expensive.
Venezuela says it deported Alex Saab, a key Maduro ally, to the U.S.
Venezuela's government says it has deported a close ally of Nicolás Maduro to face judicial proceedings in the U.S. less than three years he was pardoned by President Joe Biden.
U.S.
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Senate GOP revising White House ballroom security funds plan
The Senate's rulemaker delivered a blow to GOP plans to fund security for President Trump's overhaul of the East Wing of the White House.
Ronda Rousey defeats Gina Carano seconds into joint comeback match
Ronda Rousey used her signature armbar to stop Gina Carano just 17 seconds into a comeback bout between the two MMA fighters.
Taiwan representative to U.S.: "We're not the ones creating all this trouble"
Taiwan's representative to the U.S. Alexander Yui said on Sunday that "we want peace and stability" as Taiwan became among the most closely-watched issues in last week's summit.
Favorite Philly foods: Cheesesteaks, pretzels and hoagies
"Sunday Morning" shares the love for three traditional foods in the City of Brotherly Love.
Is the answer to the housing crunch right in your own backyard?
Accessory Dwelling Units, or ADUs, are small, fully-functional secondary homes located on the same property as a main home, usually in the backyard, filling a vital need where housing has proved scant or expensive.
MoneyWatch
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Is the answer to the housing crunch right in your own backyard?
Accessory Dwelling Units, or ADUs, are small, fully-functional secondary homes located on the same property as a main home, usually in the backyard, filling a vital need where housing has proved scant or expensive.
CBS News poll finds many voice frustration with Trump's economic approach
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
Ice cream sold in 17 states recalled for potential metal fragments
No injuries have been reported because of the issue, the Food and Drug Administration said.
Trump talks up trade deals with China, but experts see no big wins for U.S.
President Trump's trip to China could bolster economic relations, but failed to deliver a breakthrough deal, some trade and energy experts said.
Which college majors offer the best long-term return on investment?
College grads outearn people without a degree within 15 years, even after paying for tuition, study finds.
Politics
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Senate GOP revising White House ballroom security funds plan
The Senate's rulemaker delivered a blow to GOP plans to fund security for President Trump's overhaul of the East Wing of the White House.
Transcript: Reps. Brian Fitzpatrick and Tom Suozzi on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with Reps. Brian Fitzpatrick, Republican of Pennsylvania, and Tom Suozzi, Democrat of New York, that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
Taiwan representative to U.S.: "We're not the ones creating all this trouble"
Taiwan's representative to the U.S. Alexander Yui said on Sunday that "we want peace and stability" as Taiwan became among the most closely-watched issues in last week's summit.
Transcript: Alexander Yui, Taiwan's representative to the U.S., on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with Ambassador Alexander Yui, Taiwan's representative to the U.S., that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
Transcript: Former Defense Secretary Robert Gates on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with former Defense Secretary Robert Gates that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
HealthWatch
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Version of hantavirus behind deadly outbreak matches known strain, France says
Genomic analysis showed the virus found aboard the MV Hondius shows no evidence of new characteristics so far.
Ebola outbreak in Congo and Uganda declared global health emergency
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
A hospital worker felt healthy. Then he had 3 heart attacks in 4 days.
Tommy Bell thought he was in good shape. But a series of heart attacks painted a more complicated picture.
New York doctor who survived Ebola says he fears for healthcare workers
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Controversial FDA official leaving drug center post in latest departure at agency
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
World
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Transcript: Reps. Brian Fitzpatrick and Tom Suozzi on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with Reps. Brian Fitzpatrick, Republican of Pennsylvania, and Tom Suozzi, Democrat of New York, that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
Taiwan representative to U.S.: "We're not the ones creating all this trouble"
Taiwan's representative to the U.S. Alexander Yui said on Sunday that "we want peace and stability" as Taiwan became among the most closely-watched issues in last week's summit.
Transcript: Alexander Yui, Taiwan's representative to the U.S., on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with Ambassador Alexander Yui, Taiwan's representative to the U.S., that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
Irish researchers find oldest English poem in medieval book in Rome
Researchers in Dublin discovered the oldest surviving English poem in a Roman library.
Transcript: Former Defense Secretary Robert Gates on "Face the Nation with Margaret Brennan," May 17, 2026
The following is the transcript of the interview with former Defense Secretary Robert Gates that aired on "Face the Nation with Margaret Brennan" on May 17, 2026.
Entertainment
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Entertainment
5/17: Sunday Morning "By Design"
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
Director Jon Favreau on "The Mandalorian and Grogu"
Jon Favreau, creator of the "Star Wars" series "The Mandalorian," has now brought the father-son relationship of Pedro Pascal's bounty hunter and his charge "Baby Yoda" to the big screen.
Extended interview: Jon Favreau
In this web exclusive, Jon Favreau, the creator of the "Star Wars" series "The Mandalorian," and director of the new film "The Mandalorian and Grogu," talks with correspondent Tracy Smith about the myth of "Star Wars," the influences on the story (including Japanese samurai films), and expanding the universe for a new audience. He also talks about working with Robert Downey Jr. on his film "Iron Man," and about cooking, the subject of his 2014 movie, "Chef."
Jon Favreau on "The Mandalorian and Grogu"
Director Jon Favreau, creator of the "Star Wars" series "The Mandalorian," has now brought Pedro Pascal's bounty hunter and his charge "Baby Yoda" to the big screen. He talks with correspondent Tracy Smith about the handmade feel of the "Star Wars" universe, and how father-son relationships have always been at the heart of the stories set in a galaxy far, far away. He also discusses bringing his improv roots to directing Robert Downey Jr. in "Iron Man."
Designing the future of Louis Vuitton
The French fashion house is today the world's largest luxury brand. "Sunday Morning" talks with artistic director Nicolas Ghesquière, who is shaping the future of Louis Vuitton by designing the unexpected.
Technology
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Technology
An adobe renaissance
For thousands of years, civilizations around the world have built houses out of earth – whether it be mud brick, wattle and dab or rammed earth. But adobe (the practice of making mudbricks) has now become today's "it" building material, from museums around the world designed using adobe, to do-it-yourselfers constructing homes from the very dirt beneath their feet. Correspondent Conor Knighton looks at the history of adobe, and how ancient adobe materials are being merged with 3-D printing techniques.
Atlanta residents report Waymo traffic jams
Atlanta residents say they're waking up to traffic jams of self-driving Waymo vehicles confused by neighborhood signage.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Waymos get in Atlanta traffic jam
Atlanta residents woke up to Waymo traffic jams on Friday. The driverless cars took over a quiet cul-de-sac. Skyler Henry has more details.
Oklahoma becomes latest state to sue Roblox over child safety concerns
Oklahoma has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
Science
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New dinosaur weighing as much as 9 elephants identified by scientists
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Emperor penguins in focus as Antarctica talks start in Japan
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Crime
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One man with two identities behind crimes from Monaco to New Mexico
In New Mexico, a man is charged with forgery & larceny – and convicted of putting out a hit on his estranged wife. Twenty-six years earlier, a fire in Monaco kills a billionaire and his private nurse. At the center of that mystery was the very same man — with a different name.
A "Survivor" finalist's mission to prove his late sister was murdered
"Survivor" 48 and 50 contestant Joe Hunter believes his sister Joanna, whose death was ruled a suicide, was murdered. He and their mother are working to be Joanna's voice and advocate for others who have experienced domestic violence.
Details on charges against Mohammad Al-Saadi
Mohammad Baqer Saad Dawood Al-Saadi, an Iraqi national, is facing federal charges for his alleged terror plots targeting Jewish institutions around the U.S.
Terror plot foiled, suspect under arrest
A terror plot targeting Jewish institutions in New York, California and Arizona has been foiled, and a man linked to the alleged scheme is under arrest on Friday. Prosecutors say the Iraqi suspect is tied to other global attacks and claim he wanted payback for the U.S. and Israeli war on Iran. Tom Hanson reports.
Iraqi man charged with terror plot: officials
An Iraqi national was arrested and charged with planning to carry out several terror attacks in the U.S., including at a New York City synagogue and other prominent Jewish centers in Los Angeles and Scottsdale, Arizona. CBS News' Anna Schecter reports.
Space
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SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
5/17: Sunday Morning "By Design"
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
Fitzpatrick on gerrymandering
Republican Rep. Brian Fitzpatrick joined Democratic Rep. Tom Suozzi, the co-chairs of the House Problem Solvers Caucus, on "Face the Nation with Margaret Brennan," saying that gerrymandering is "one of the most, if not the most, corrosive things to our democracy that I can imagine."
Yui on Taiwan relationship with China
As Chinese state media reported that President Xi Jinping told President Trump there would be "conflicts" if the situation with Taiwan isn't "handled properly," Alexander Yui, Taiwan's representative to the U.S., told "Face the Nation with Margaret Brennan" that Taiwan is "not the ones creating all this trouble" in the region.
Greer on Board of Trade
U.S. Trade Representative Jamieson Greer told "Face the Nation with Margaret Brennan" that the newly-announced Board of Trade between the U.S. and China will be focused on "non-sensitive goods" such as "sales of agricultural goods to China, energy goods, Boeings, medical devices."
Open: "Face the Nation," May 17, 2026
This week on "Face the Nation with Margaret Brennan," as President Trump returns from his trip to China, U.S. Trade Representative Jamieson Greer and Ambassador Alexander Yui, Taiwan's representative to the U.S., join. Plus, Anthony Salvanto has the latest CBS News polling on the economy.