Speculation/personal read on this.

1. A lot of companies got used to ZIRP money (not to mention the trickle-down effect to the rest of the economy).

2. The COVID printing spree/helicopter money had a knock-on effect of rising inflation (more dollars/demand competing for the same resources, or less). That was made even worse by tariff fluctuations.

3. The delta between revenue/investment money vs. cost increases relative to inflation likely exceeded the threshold for these companies to stay solvent (or to make it worth it to keep the business operational).