October Commercial Chapter 11 Filings Increase 25 Percent
Sunday, November 10, 2019
Commercial chapter 11 filings increased 25 percent in October 2019 from last month, according to data provided by Epiq Systems Inc. and American Bankruptcy Institute. The 520 commercial chapter 11 filings in October 2019 were up over the 417 filings registered in September.
Overall commercial filings also increased in October 2019 as the 3,527 filings were 12 percent more than the 3,164 filings last month. The 67,806 total U.S. bankruptcy filings for October 2019 represented an 11 percent increase from the September total of 61,132 filings. The 64,279 consumer filings in October 2019 also represented an 11 percent increase from last month’s consumer total of 57,968.
Total bankruptcy filings in October 2019 increased slightly from the October 2018 filing total of 67,593. The 64,279 consumer filings in October also represented a slight increase from last year’s October consumer total of 64,179. October 2019 business filings increased 3 percent to 3,527 from last year’s business total of 3,414. Conversely, the 520 commercial chapter 11 filings recorded in October 2019 represented a 7 percent decrease from the 557 commercial chapter 11 filings in October 2018.
The average nationwide per capita bankruptcy filing rate in October was 2.51 (total filings per 1,000 per population), a slight increase from the filing rate of 2.50 during the first nine months of 2019. Average total filings per day in October 2019 were 3,082, a slight increase from the 3,077 total daily filings in October 2018.