News: NACM News

Commercial Chapter 11 Filings Fall 12 Percent

Thursday, September 6, 2018  
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Total U.S. bankruptcy filings increased 10 percent in August 2018 from July, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. Total filings registered 68,499 in August 2018, up from the previous month’s total of 62,223. 

 

The 65,335 consumer filings in August also represented an 11 percent increase from July’s consumer total of 59,119. August 2018 business filings increased 2 percent to 3,164 from July’s business total of 3,104. Conversely, the 361 commercial chapter 11 filings recorded in August 2018 were a 12 percent decrease from the 412 commercial chapter 11 filings in July.

 

The 68,499 total filings for August 2018 registered a slight increase over the August 2017 total of 68,231 filings. The 65,335 consumer filings in August represented a 1 percent increase from the previous year’s consumer total of 64,865. August 2018 business filings decreased 6 percent to 3,164 from August 2017’s business total of 3,366. The 361 commercial chapter 11 filings in August 2018 fell 27 percent from the 492 commercial chapter 11 filings last August.

 

The average nationwide per capita bankruptcy filing rate in August was 2.51 (total filings per 1,000 per population), a slight increase from the filing rate of 2.49 during the first seven months of 2018. Average total filings per day in August 2018 were 2,978, a slight increase from the 2,967 total daily filings in August 2017.