September Commercial Chapter 11 Filings Up 33 Percent over Last Year
Monday, October 7, 2019
Commercial chapter 11 filings totaled 414 in September, a 33 percent increase over September 2018’s total of 312 filings, according to data provided by Epiq Systems and American Bankruptcy Institute.
Commercial bankruptcy filings during the first nine months of the year increased 4 percent to 29,408 from the 28,401 filings during the same period in 2018. Commercial chapter 11 filings also increased during the first nine months of 2019, as the 4,127 filings represented an 8 percent upturn from the 3,805 chapter 11 filings during the first nine months of 2018.
Overall business filings increased 11 percent to 3,129 filings in September from September 2018’s total of 2,822 business filings. Total U.S. filings registered 61,113 in September 2019, up 6 percent from last September’s total of 57,619. The 57,984 consumer filings in September also represented a 6 percent increase from the September 2018 consumer total of 54,797.
Total U.S. bankruptcy filings rose 1 percent during the first nine months of 2019 (Jan. 1-Sept. 30) from the same period a year ago as the 580,470 filings were a slight increase from 576,749 filings in 2018. The 551,062 total noncommercial filings through the first three quarters of 2019 also represented a 1 percent increase from the noncommercial filing total of 548,348 through the first three quarters of 2018.
The average nationwide per capita bankruptcy filing rate for the first nine calendar months of 2019 (Jan. 1-Sept. 30) decreased slightly to 2.5 (total filings per 1,000 population) from the 2.51 rate for the first eight months of the year. The average daily filing total in September 2019 was 3,056, a 1 percent increase from the 3,033 total daily filings registered in September 2018.