News: General News

Commercial Chapter 11 Filings Increased 6 Percent in 2017

Wednesday, January 17, 2018  
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Total commercial chapter 11 filings during calendar year 2017 (Jan. 1-Dec. 31) were 5,744, a 6 percent increase from the 5,447 filings in 2016, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. There were 38,062 commercial filings during calendar year 2017, a 0.25 percent increase over the 37,968 commercial filings the previous year.

Monthly commercial chapter 11 filings were up sharply year-over-year. The 699 commercial chapter 11 filings in December 2017 were a 107 percent increase over the 337 filings in December 2016. Total commercial filings also rose, as the 3,025 filings in December 2017 represented a 2 percent increase from the 2,967 total commercial filings during the same period in 2016.

Total bankruptcy filings decreased slightly to 766,698 nationwide for calendar year 2017 (Jan. 1-Dec. 31), 1 percent less than the 772,098 total filings during 2016. The 728,386 total noncommercial filings during calendar year 2017 also slipped 1 percent from the noncommercial filing total of 733,902 during calendar year 2016.

The 52,522 total bankruptcy filings for the month of December represented a 7 percent decrease compared to the 56,435 filings in December 2016. The 49,497 total noncommercial filings for December also represented a 7 percent decrease from the December 2016 noncommercial filing total of 53,468. Average total filings per day in December 2017 were 2,626, a 2 percent decrease from the 2,687 total daily filings in December 2016.

The average nationwide per capita bankruptcy filing rate for calendar year 2017 (Jan. 1-December 31) decreased slightly to 2.47 (total filings per 1,000 per population) from the 2.48 rate during calendar year 2016.