News: General News

Commercial Chapter 11 Filings Increase 60 Percent from Previous Year

Wednesday, March 13, 2019  
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Total commercial chapter 11 filings in February 2019 increased 60 percent over the same period last year, according to data provided by American Bankruptcy Institute and Epiq Systems. The 681 commercial chapter 11 filings in February 2019 were up from the 425 commercial chapter 11 filings in February 2018. Total commercial filings were 3,139 in February 2019, representing a 10 percent increase from the 2,862 business filings recorded in February 2018. 

Total bankruptcy filings decreased 1 percent to 56,118 in February 2019 from the 56,732 filed in February 2018. Consumer filings decreased 2 percent in February 2019 to 52,979 from the February 2018 consumer filing total of 53,870.

The February 2019 commercial chapter 11 filing total of 681 represented an 86 percent increase over the previous month’s commercial filing total of 366. February 2019’s 3,139 commercial filings increased 7 percent over the 2,927 filings recorded in January 2019. Total bankruptcy filings, however, fell 3 percent in February 2019 from January’s total of 57,632 filings. Total noncommercial filings also decreased 3 percent from the previous month, from 54,705 filings in January 2019 to 52,979 filings in February 2019.

The average nationwide per capita bankruptcy-filing rate in February 2019 was 2.20 (total filings per 1,000 per population), a slight decrease from January 2019’s rate of 2.23. Average total filings per day in February 2019 were 2,984, a 3 percent decrease from the 3,073 total daily filings recorded in February 2018.