News: General News

February Commercial Bankruptcy Filings Decrease from Previous Year

Thursday, March 15, 2018  
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Total commercial bankruptcy filings decreased slightly in February 2018 to 2,795, representing a 2.5 percent decrease from the 2,866 business filings recorded in February 2017, according to the American Bankruptcy Institute and Epiq Systems Inc. The 425 total commercial chapter 11 filings in February 2018 represented an increase of 4 percent from February 2017’s total of 407.

The February 2018 commercial chapter 11 filing total of 425 represented a 16 percent increase from the previous month’s commercial filing total of 365. February 2018’s 2,795 commercial filings, however, represented 2 percent decrease from the 2,860 filings recorded in January 2018.

Total bankruptcy filings for the month of February 2018 decreased 3 percent from last year. The 56,694 total filings in February 2018 were down from the 58,392 total filings during in February 2017. Consumer filings also decreased 3 percent in February 2018 to 53,899 from the February 2017 consumer filing total of 55,526.

Total bankruptcy filings for February represented a 4 percent increase over the January 2018 total of 54,619. The 53,899 total noncommercial filings for February 2018 also represented a 4 percent increase from the January noncommercial filing total of 51,759.

The average nationwide per capita bankruptcy filing rate in February 2018 was 2.15 (total filings per 1,000 population), an increase from January 2018’s rate of 2.03. Average total filings per day in February 2018 were 2,984, a 3 percent decrease from the 3,073 total daily filings recorded in February 2017.