Upward Commercial Bankruptcy Filing Trends Continue in November
Monday, December 17, 2018
Commercial chapter 11 filings increased 50 percent in November 2018 over November of last year, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. The 653 commercial chapter 11 filings registered in November 2018 jumped from November 2017’s commercial chapter 11 filing total of 435. Commercial bankruptcy filings totaled 3,185 in November 2018, a 5 percent increase from the 3,039 commercial filings in November 2017.
Conversely, the 58,887 total U.S. bankruptcy filings in November 2018 registered a 2 percent decrease over the November 2017 total of 60,327. Consumer bankruptcies also decreased in November 2018, as the 55,702 filings were 3 percent less than the 57,288 consumer filings registered in November 2017.
Commercial chapter 11 filings in November 2018 represented a 17 percent increase over the 557 filings recorded in October 2018, although November’s commercial filing total represented a 6 percent decrease from the October 2018 commercial filing total of 3,398. Total filings for November decreased 13 percent compared to the 67,570 total filings in October 2018. Total noncommercial filings for November also represented a 13 percent decrease from the October 2018 noncommercial filing total of 64,172.
The average nationwide per capita bankruptcy filing rate (total filings per 1,000 population) was 2.47 for the first 11 calendar months of 2018 (Jan. 1-Nov. 30), a slight decrease over the 2.49 rate registered during the first 10 months of the year. The average daily filing total in November 2018 was 2,944, a slight decrease from the 3,016 total daily filings registered in November 2017.