Bankruptcy in the US

The delisting code for bankruptcies in CRSP is 574. The easiest way to make a list of companies gone bankrupt is to use the Monthly stock file and use the delisting code as a conditional statement. However, CRSP isn’t updated on a daily basis.

For the most recent information, you could use Bloomberg. Use the function CACT (corporate actions calendar search). At the right side of the screen there is an option 20 Common. When you open that option, you can choose under Capital Change ‘Bankruptcy Filings’. To find American companies, you can select the region. You can also choose the time frame, but only the first 5000 records are shown, so to get a full list you have to change start dates a couple of times. The good news is that you can export the output to excel, but only up to 1000 records.

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2 thoughts on “Bankruptcy in the US

  1. In our new database, Orbis, you can select bankrupt companies by clicking the item ‘status’. All you have to do is mark ‘Bankruptcy’ under Inactive companies. To find the date, you can add ‘delisting date’ to the items you see in the list of companies.

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