News: General News

Commercial Chapter 11 Filings Increase 19 Percent from Last Year

Thursday, September 12, 2019  
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Commercial chapter 11 filings increased 19 percent in August 2019 from last year, according to data provided by Epiq Systems and American Bankruptcy Institute. The 432 commercial chapter 11 filings in August 2019 were up 19 percent over the 364 filings registered in August 2018. 

Overall commercial filings also increased in August 2019, as the 3,337 filings were a 3 percent increase over the 3,231 filings in August 2018. Conversely, the 66,478 total U.S. bankruptcy filings for August 2019 represented a 3 percent decrease from the August 2018 total of 68,547 filings. The 63,141 consumer filings in August 2019 also represented a 3 percent decrease from last year’s consumer filing total of 65,316.

Total bankruptcy filings in August 2019 represented a 3 percent increase from the 64,310 total filings in July. The 432 commercial chapter 11 filings recorded in August 2019 also represented a 3 percent increase over the 421 commercial chapter 11 filings in July. The 63,141 consumer filings in August represented a 4 percent increase from July’s consumer total of 61,006. August 2019 business filings increased 1 percent to 3,337 from July’s business total of 3,304.

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 2.50 during the first seven months of 2019. Average total filings per day in August 2019 were 3,022, up from the 2,980 total daily filings recorded in August 2018.