According to @KobeissiLetter, a record 2,221 US small firms have filed for bankruptcy under Subchapter V year-to-date, signaling recession-like stress in the small business segment, source: @KobeissiLetter. According to @KobeissiLetter, Subchapter V is intended for businesses and individuals with under $3 million in debt to reorganize faster and at lower cost than traditional Chapter 11, source: @KobeissiLetter. According to @KobeissiLetter, small business bankruptcies have risen 83% over the last five years, source: @KobeissiLetter. According to @KobeissiLetter, the surge has persisted despite the debt limit being reduced from $7.5 million to $3 million last year, making it harder for larger businesses to qualify, source: @KobeissiLetter. According to @KobeissiLetter, the increase is being driven by persistently high borrowing costs, cautious consumer spending, and broader economic uncertainty weighing on small business earnings, source: @KobeissiLetter. According to @KobeissiLetter, US small firms are struggling, source: @KobeissiLetter.