October Commercial Chapter 11 Filings Increase 75 Percent Over Previous Year
Tuesday, November 6, 2018
Commercial chapter 11 filings increased 75 percent in October 2018 over October of last year, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. The 554 commercial chapter 11 filings registered in October 2018 were up from October 2017’s commercial chapter 11 filing total of 316. Commercial bankruptcy filings totaled 3,371 in October 2018, an 11 percent increase from the 3,041 commercial filings in October 2017.
Commercial chapter 11 filings in October 2018 represented a 79 percent increase over the 309 filings recorded in September 2018. October’s commercial filing total represented a 20 percent increase from the September 2018 commercial filing total of 2,889. Total filings for October increased 17 percent compared to the 57,596 total filings in September 2018.
The 67,546 total U.S. bankruptcy filings in October 2018 registered a 5 percent increase over the October 2017 total of 64,616. Consumer bankruptcies also increased in October 2018, as the 64,175 filings were 4 percent more than the 61,575 consumer filings registered in October 2017.
Total noncommercial filings for October also represented a 17 percent increase from the September 2018 noncommercial filing total of 54,788.
The average nationwide per capita bankruptcy filing rate (total filings per 1,000 population) was 2.49 for the first 10 calendar months of 2018 (Jan. 1-Oct. 31), a slight increase over the 2.48 rate registered during the first nine months of the year. The average daily filing total in October 2018 was 3,070, a slight decrease from the 3,077 total daily filings registered in October 2017.