Commercial Bankruptcy Filings Fall from Last Year
Wednesday, June 6, 2018
Total commercial filings fell 10 percent in May 2018, as the 3,325 filings decreased from the 3,675 commercial filings registered in May 2017, according to data provided by the American Bankruptcy Institute and Epiq Systems Inc. Total commercial chapter 11 filings showed the sharpest decline, dropping 23 percent to 447 in May 2018 from the May 2017 total of 579.
Total U.S. bankruptcy filings decreased 4 percent in May 2018 over May of last year. Bankruptcy filings totaled 67,307 in May 2018, a drop from the May 2017 total of 69,732. The 63,982 consumer bankruptcy filings in May 2018 also decreased 3 percent over the May 2017 consumer total of 66,057.
May’s commercial filing total represented a 2 percent increase from the April 2018 commercial filing total of 3,250. Commercial chapter 11 filings registered an increase of 14 over the 394 filings in April 2018.
Total bankruptcy filings for the month of May decreased 4 percent when compared to the 69,760 total filings recorded the previous month. Total noncommercial filings for May also represented a 4 percent decrease from the April 2018 noncommercial filing total of 66,510.
The average nationwide per capita bankruptcy filing rate in May was 2.51 (total filings per 1,000 per population), a slight increase from the 2.47 filing rate during the first four months of the year. Average total filings per day in May 2018 were 3,059, a 4 percent decrease from the 3,170 total daily filings in May 2017.