Commercial Chapter 11 Filings Increase 5 Percent in First Half over Last Year
Tuesday, July 9, 2019
Total commercial chapter 11 filings during the first six months of the year (Jan. 1-June 30) increased 5 percent to 2,854 from the 2,716 total filings during the same period in 2018, according to the latest data from Epiq Systems and American Bankruptcy Institute. Total commercial filings also increased slightly to 19,531 during the first six months of 2019, a 2 percent increase from the 19,210 total commercial filings during the same period a year ago.
Total bankruptcies were nearly unchanged with a 0.04 percent increase, as the 388,463 filings during the first half of 2019 were slightly more than the 388,324 filings during the first six months of 2018. The 368,932 total consumer filings for the first half of 2018 represented a 0.05 percent drop from the consumer filing total of 369,114 for the first half of 2018.
Total commercial chapter 11 bankruptcies for the month of June 2019 were 425, representing a 38 percent increase from the 309 commercial chapter 11 filings in June 2018. Total commercial bankruptcies slipped to 3,052 filings in June 2019 from the 3,079 registered in June 2018. Total bankruptcy filings in June 2019 fell 4 percent to 61,048 from the 63,753 total filings in June 2018. Noncommercial bankruptcies for June 2019 also decreased 4 percent, to 57,996 from the 60,674 filings in June 2018.
The average nationwide per capita bankruptcy filing rate for the first six calendar months of 2019 (Jan. 1-June 30) decreased slightly to 2.51 (total filings per 1,000 per population) from 2.53 for the first five months. The average total filings per day in June 2019 were 3,052, a 1 percent increase from the 3,036 total daily filings in June 2018.