Paraphrasing from Ernest Hemingway’s 1926 novel The Sun Also Rises, going bankrupt happens slowly, then all at once. The warning signs are always there.New bankruptcy filings during the first quarter of 2024 registered year-over-year increases across all US major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of US bankruptcy filing data. Total commercial Chapter 11 filings registered the largest increase, up 43 percent during the same period in 2023.“As we expected, the upward trajectory in both commercial and individual related bankruptcy filing volumes continue,” said Michael Hunter, Vice President of Epiq AACER. “March marks 20 consecutive months that total, individual, and commercial bankruptcy filings have registered monthly year-over-year increases. Factors contributing to this trend are the higher cost of funds and interest rates, a reduction in consumer discretionary spending, higher housing costs, and a continued drawdown of excess savings. These factors coupled with the post-pandemic anticipated normalization of bankruptcy volumes lead me to believe this upward trend will continue through 2024.”Glosslab: Celebrity-backed nail salon chain Glosslab was founded by former hedge fund executive Rachel Apfel Glass in 2018 to modernize the manicure experience with a focus on hygiene and efficiency. After raising $20 million in funding, the company and its corporate affiliates sought court protection in the U.S. Bankruptcy Court for the Southern District of New York at the end of 2024. The Better Skin Co. was founded in 2015 by the dynamic duo of Natalya Rachkova and beauty industry veteran Murphy D. Bishop, II.