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.
2 U.S. service members missing amid training exercise in Morocco
The service members were participating in African Lion, the largest joint military exercise on the continent.
Former guerrillas learn about birding in Colombia
Years after he was kidnapped by guerrillas in Colombia, a bird expert decided to introduce his former captors to birding, thinking they might make good guides.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
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Trump announces new effort to escort ships out of Strait of Hormuz
President Trump on Sunday announced Project Freedom, an effort to escort ships not involved in the war with Iran out of the Strait of Hormuz, will begin Monday.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
Rep. Jason Crow says U.S. is "not good at having off ramps" in Middle East
Democratic Rep. Jason Crow of Colorado said on Sunday that the U.S should be considering a broader question of strategy in the war with Iran.
Why some white nationalists are showing up to areas hit by natural disasters
After natural disasters, white nationalists, militias, and conspiracists often arrive, offering help. But they also want to recruit and improve their image.
Ukraine hits Russian oil assets, including "shadow fleet" tankers
Ukraine has launched a wave of strikes against Russia's oil export infrastructure, including tankers in its "shadow fleet."
United flight landing at Newark strikes light pole, truck on NJ Turnpike
An investigation is underway after a United Airlines plane struck a light pole and truck on the New Jersey Turnpike as it was coming in for a landing at Newark Liberty Airport on Sunday afternoon, officials said.
U.S.
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Shooting at lake near Oklahoma City leaves at least 10 wounded, police say
At least 10 people have been taken to hospitals following a shooting at party at Arcadia Lake, near Oklahoma City, police say.
Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
Video shows United flight strike truck on NJ Turnpike before landing at Newark
An investigation is underway after a United Airlines plane struck a light pole and truck on the New Jersey Turnpike as it was coming in for a landing at Newark Liberty Airport on Sunday afternoon, officials said.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
MoneyWatch
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Overtourism: Too much of a good thing?
"Sunday Morning" looks at the impacts that increasing numbers of tourists, spurred in large part by social media, are having in some of the world's most popular and fragile destinations.
Berkshire Hathaway has 1st annual meeting without Warren Buffett
The company's first-quarter profit more than doubled as the value of its investments grew and most of its businesses improved.
Spirit Airlines shutting down after failed effort at government rescue deal
The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.
Pickleball Inc. $225 million deal creates new home for sport
The deal merged Major League Pickleball and the Carvana PPA Tour, two of the nascent sport's most active entities, under one company, Pickleball Inc.
Exclusive
Ford CEO says company is focusing on making vehicles more affordable
Ford CEO Jim Farley tells CBS News, "Most of our new models are going to be more affordable versions."
Politics
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Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
Rep. Jason Crow says U.S. is "not good at having off ramps" in Middle East
Democratic Rep. Jason Crow of Colorado said on Sunday that the U.S should be considering a broader question of strategy in the war with Iran.
Sen. Raphael Warnock: Supreme Court "poured fuel on this redistricting arms race"
Democratic Sen. Raphael Warnock of Georgia called the Supreme Court's decision last week to strike down Louisiana's congressional map and weaken the Voting Rights Act "a massive and devastating blow."
Transcript: Kevin Hassett on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with White House National Economic Council Director Kevin Hassett that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
HealthWatch
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HealthWatch
5/3: Sunday Morning
Hosted by Jane Pauley. Featured: The effects of overtourism; horse therapy; a tool to help keep dementia in check; Sting on "The Last Ship"; a golf journalist takes over a failing golf course; a Mozart exhibition; and collecting PEZ dispensers.
A tool to help keep dementia in check
Many people fear that a family history of dementia dooms them to inevitably suffer the condition themselves. But a new tool, the Brain Care Score, shows how lifestyle changes can be beneficial, cutting the risk of dementia. National Public Radio correspondent Allison Aubrey talks with neurologist Dr. Jonathan Rosand about how making changes to your daily habits might just be the prescription needed.
A tool to help keep dementia in check
Many people fear that a family history of dementia dooms them to inevitably suffer the condition themselves. But a new tool, the Brain Care Score, shows how lifestyle changes can be beneficial, cutting the risk of dementia.
Horsepower: How horses are therapeutic
Horses can form powerful bonds with people owing to their ability to sense and feel human emotions. Endeavor Therapeutic Horsemanship, in Bedford Corners, N.Y., has programs that help people with disabilities, veterans with PTSD, and the incarcerated through interactions with their horses. "60 Minutes" correspondent Lesley Stahl reports.
Football practice was leaving a teen fatigued. A rare cancer was to blame.
Cameron Rider's fatigue, body aches and fever were diagnosed as pneumonia, but he couldn't seem to get better.
World
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Ukraine hits Russian oil assets, including "shadow fleet" tankers
Ukraine has launched a wave of strikes against Russia's oil export infrastructure, including tankers in its "shadow fleet."
Transcript: Kevin Hassett on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with White House National Economic Council Director Kevin Hassett that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Transcript: Rep. Jason Crow on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with Rep. Jason Crow, Democrat of Colorado, that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Transcript: Minneapolis Fed president and CEO Neel Kashkari on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with Minneapolis Fed president and CEO Neel Kashkari that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Transcript: Sen. Raphael Warnock on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with Sen. Raphael Warnock, Democrat of Georgia, that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Entertainment
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Entertainment
5/3: Sunday Morning
Hosted by Jane Pauley. Featured: The effects of overtourism; horse therapy; a tool to help keep dementia in check; Sting on "The Last Ship"; a golf journalist takes over a failing golf course; a Mozart exhibition; and collecting PEZ dispensers.
Sting embarks on "The Last Ship"
The English city of Newcastle was hometown of the rock musician Sting, who as a young man witnessed the city's shipbuilding business dry up. He's paid homage to his town's heritage by writing and starring in a musical, "The Last Ship."
Extended interview: Sting
In this web exclusive, the rock musician Sting talks with Mark Phillips about his stage musical, "The Last Ship," in which he stars, and which is being performed on a global tour. He calls the show an elegy for what Newcastle and its people represented to him growing up. He also discusses why, for him, uncertainty is a key component of art; why performing "Roxanne" today is never tiresome; and why, for him, music is a church.
Sting embarks on "The Last Ship"
For centuries the English city of Newcastle was a hard-scrabble industrial powerhouse that built ships. It was also the hometown of the rock musician Sting, who as a young man witnessed the city's shipbuilding business dry up. He's paid homage to his town's heritage by writing and starring in a musical, "The Last Ship," which he's now taking on an international tour. He talks with Mark Phillips about his long career, and why he can't stop working.
Passage: In memoriam
"Sunday Morning" remembers some of the notable figures who left us this week, including songwriter David Allan Coe, famous for his country hit "Take This Job and Shove It."
Technology
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Technology
Almanac: May 3
"Sunday Morning" looks back at historical events on this date.
Reducing data center impact on U.S. power grid
Powerful artificial intelligence data centers are putting a significant strain on the nation's power grid, but one U.S.-based company has a proposal to help solve the issue. Jon Parella, CEO and founder of Terraflow Energy, joins to discuss.
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.
Apple's latest earnings beat expectations
Apple's latest earnings report beat Wall Street expectations. CBS News contributor Patrick McGee joins with more.
Elon Musk concludes testimony in OpenAI trial
Elon Musk's testimony concluded Thursday in his lawsuit against OpenAI. Nicholas Thompson, CEO of The Atlantic and host of "The Most Interesting Thing in AI" podcast, joins "The Takeout" with analysis.
Science
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Science
Bill Nye on the Artemis II moon mission
Bill Nye The Science Guy, the chief ambassador of The Planetary Society, joins CBS News 24/7 Mornings with more after meeting the Artemis II crew in person after their successful mission around the moon.
Trump administration fires board overseeing National Science Foundation
The Trump administration has fired all 22 current members of an independent board that oversees the National Science Foundation, one dismissed member says.
AI used to reveal face of victim fleeing Mount Vesuvius eruption
Archaeologists found the victim holding a terracotta mortar, which they interpret as an improvised attempt to shield his head.
In a first, endangered orangutan seen using canopy bridge to cross road
Rapid development has been shrinking the jungle habitat of the critically endangered species, and fatal conflicts with people have been increasing.
Saving the Venus fly trap
The carnivorous Venus fly trap is native to the Carolinas, but its population is dwindling due to loss of habitat. Correspondent Seth Doane talks with botanist Julie Moore, who has spent much of her life helping to save these remarkable plants; and with Damon Waitt, director of the North Carolina Botanical Garden, who discusses the unusual traits of a species that Charles Darwin called the most interesting plant in the world.
Crime
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Shooting at lake near Oklahoma City leaves at least 10 wounded, police say
At least 10 people have been taken to hospitals following a shooting at party at Arcadia Lake, near Oklahoma City, police say.
Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
Stalked woman shot at 14 times by ex-boyfriend during horrific 911 call
Gloria Choi and her friends called Lakewood, Washington, 911 four times in 48 hours to report her being stalked by an ex-boyfriend. Two days later, he ran her off the road and riddled her truck with bullets as she was on the line with a 911 dispatcher.
New video of correspondents' dinner suspect
New video shows the alleged White House Correspondents' Dinner shooter breaching event security after roaming the hotel hallways prior to the dinner.
Space
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Artemis crew surprises 5-year-old aspiring astronaut with special gift
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
Artemis II crew reveals what snack they ate right after splashdown
The Artemis II astronauts said they actually really enjoyed the space food, but it was a familiar candy they enjoyed after splashing down in the Pacific Ocean.
Artemis II astronauts talk mission toilet troubles: "We made do"
The plumbing issues aboard the Orion capsule became headline news in the early days of the historic Artemis II mission.
Only on CBS
Artemis crew tells kids moon flight was "the best roller coaster ride"
The Artemis II astronauts joined "CBS Mornings" for a live town hall where they took questions from kids just weeks after returning from their historic moon mission.
SpaceX launches Falcon Heavy rocket carrying powerful satellite
SpaceX's most powerful operational rocket boosted a high-speed ViaSat internet data relay satellite into space to complete a globe-spanning constellation.
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
5/3/2026: Disaster Tourists; Birds Of War; Perfume Capital Of The World
First, when the volunteer helping after a hurricane is a white nationalist. Then, birders flock here since guerrillas disarmed. And, Grasse: The perfume capital of the world.
5/3: CBS Weekend News
Passengers deal with Spirit shutdown fallout; Trump's poll numbers tank as Iran war continues to jack up gas prices.
Cherie DeVaux reflects on historic derby win
Trainer Cherie DeVaux says she's still coming to grips with her horse Golden Tempo's longshot win in Saturday's Kentucky Derby. Jericka Duncan reports.
Replacing Minuteman III nuclear missiles
The United States is in the process of replacing the 60-year-old Minuteman III nuclear missile with the new Sentinel missile. Ian Lee reports, with an exclusive look at one of our nation's most secure and destructive weapons.
Fuel costs eating into firefighting budgets
Aircraft used to fight wildfires are getting more expensive as fuel prices rise. Carter Evans reports.