News: General News

Commercial Bankruptcy Filings Drop

Monday, May 7, 2018  
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Total commercial filings fell 5 percent in April 2018, as the 3,226 filings decreased slightly from the 3,395 commercial filings registered in April 2017, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. Total commercial chapter 11 filings showed the sharpest decline, dropping 32 percent to 391 in April 2018 from the April 2017 total of 575.

 

April’s commercial filing total represented a 12 percent decrease from the March 2018 commercial filing total of 3,682. Commercial chapter 11 filings fell by nearly half, 49 percent, from the 773 filings in March 2018.

 

The 66,510 consumer bankruptcy filings in April 2018 were also up 3 percent over the April 2017 consumer total of 64,315. Total U.S. bankruptcy filings increased 3 percent in April 2018 over April of last year. Bankruptcy filings totaled 69,736 in April 2018, up from the April 2017 total of 67,710. 

 

Total bankruptcy filings for the month of April decreased 8 percent when compared to the 76,031 total filings recorded the previous month. Total noncommercial filings for April also represented an 8 percent decrease from the March 2018 noncommercial filing total of 72,349.

 

The average nationwide per capita bankruptcy filing rate in April was 2.49 (total filings per 1,000 per population), a slight increase from the 2.42 filing rate during the first three months of the year. Average total filings per day in April 2018 were 3,321, a 2 percent decrease from the 3,386 total daily filings in April 2017.