Commercial Bankruptcy Filings Decline Nearly 10 Percent
Tuesday, May 16, 2017
Total commercial filings declined from last month, with April 2017’s 3,303 total commercial filings representing a 9.7 percent decrease from the March 2017 total of 3,658, according to the latest data from the American Bankruptcy Institute and Epiq Systems Inc. This represents a 5.14 percent decrease from the 3,482 filings during the same period in 2016.
Of those commercial filings, chapter 11 filings increased by 18.8 percent, from 468 filings in March 2017 to 556 filings in April 2017. This number reflects an 18.24 percent decline from the same period last year.
Total U.S. bankruptcy filings fell nearly 4 percent in April 2017 from the same period in 2016. Bankruptcy filings totaled 67,670 in April, down 3.96 percent from the 70,457 filings reported in April 2016. The 64,323 total noncommercial filings recorded in April 2017 represented a 3.93 percent decrease from the April 2016 total of 66,957.
“Bankruptcy filings continue to show volatility month to month and year over year, reflecting household financial pressures,” said ABI Executive Director Samuel J. Gerdano.
For the month of April 2017, the 67,670 total filings represented a 17.08 percent drop from the 81,610 filings recorded in March 2017. April 2017’s 64,323 total noncommercial filings represented a 17.42 percent decrease from the 77,890 noncommercial filings recorded in March 2017.
The average nationwide per capita bankruptcy filing rate in April 2017 was 2.54 (total filings per 1,000 per population), a slight increase from the 2.51 filing rate of the first three months of the year.