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Bankruptcy Information

According to the Administrative Office of the U.S. Courts, the number of business bankruptcies filed in the second quarter of 2020 totaled 5,521, decreased by 1.3% from 5,595 business bankruptcies filed in the same quarter of 2019.

US Total Business Bankruptcy Filings (Q3 2018 – Q3 2020)

Please click here to download the chart (PDF format).

Total Business Bankruptcy Filings (by quarter)

Year Quarter Total Business Bankruptcy % change over the same period last year
2020 Q1 5,952 6.0%
  Q2 5,154 -11.1%
  Q3 5,521 -1.3%
2019 Q1 5,614 -1.0%
  Q2 5,799 5.8%
  Q3 5,595 8.5%
  Q4 5,712 -2.4%
  Q1 to Q4 22,720 2.5%
2018 Q1 5,669 -0.8%
  Q2 5,479 -13.9%
  Q3 5,155 -2.6%
  Q4 5,855 2.2%
  Q1 to Q4 22,158 -4.1%
2017 Q1 5,715 -8.2%
  Q2 6,366 -2.6%
  Q3 5,290 -5.5%
  Q4 5,727 +1.1%
  Q1 to Q4 23,098 -3.9%
2016 Q1 6,227 +1.1%
  Q2 6,537 +6.0%
  Q3 5,597 -11.7%
  Q4 5,666 -5.1%
  Q1 to Q4 24,027 -2.5%
2015 Q1 6,159 -11.9%
  Q2 6,166 -15.3%
  Q3 6,338 -0.3%
  Q4 5,973 -4.0%
  Q1 to Q4 24,636 -8.2%
2014 Q1 6,992 -17.9%
  Q2 7,283 -17.9%
  Q3 6,355 -21.7%
  Q4 6,219 -17.7%
  Q1 to Q4 26,849 -18.8%
2013 Q1 8,512 -22.6%
  Q2 8,874 -14.5%
  Q3 8,119 -12.2%
  Q4 7,556 -18.1%
  Q1 to Q4 33,061 -17.0%
2012 Q1 10,998 -11.9%
  Q2 10,374 -16.5%
  Q3 9,248 -21.3%
  Q4 9,231 -17.2%
  Q1 to Q4 39,851 -16.6%
2011 Q1 12,477 -15.2%
  Q2 12,431 -14.4%
  Q3 11,749 -16.3%
  Q4 11,149 -14.4%
  Q1 to Q4 47,806 -15.1%
2010 Q1 14,705 1.9%
  Q2 14,516 -9.9%
  Q3 14,031 -8.2%
  Q4 13,030 -13.2%
  Q1 to Q4 56,282 -7.5%
2009 Q1 14,427 62.6%
  Q2 16,113 57.5%
  Q3 15,277 32.3%
  Q4 15,020 16.4%
  Q1 to Q4 60,837 39.7%
2008 Q1 8,870 39.6%
  Q2 10,228 51.2%
  Q3 11,547 60.0%
  Q4 12,901 61.6%
  Q1 to Q4 43,546 53.8%
2007 Q1 6,354 56.2%
  Q2 6,765 39.8%
  Q3 7,218 38.7%
  Q4 7,985 42.9%
  Q1 to Q4 28,322 43.8%

 


Bankruptcy Basics

Chapter 7

Liquidation under the Bankruptcy Code

The chapter of the Bankruptcy Code providing for "liquidation," ( i.e., the sale of a debtor''s nonexempt property and the distribution of the proceeds to creditors.)

Chapter 11

Reorganisation under the Bankruptcy Code

The chapter of the Bankruptcy Code providing (generally) for reorganisation, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganisation to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)

Source: Administrative Office of the U.S. Courts


13.01.2021

Christopher & Banks Corporation filed for Chapter 11 bankruptcy protection (13 Jan 2021)

Specialty women’s apparel retailer Christopher & Banks Corporation (OTC: CBKC) has filed for Chapter 11 bankruptcy protection for a potential sale of the business. President and CEO Keri Jones attributed the decision to the impact of the COVID-19 pandemic which has caused significant financial distress on the business. The company said it will continue to operate its business in the ordinary course in the near term.

10.01.2021

Tea Olive I, LLC filed for Chapter 11 bankruptcy protection (10 Jan 2021)

US-based farm, home and outdoor retailer Tea Olive I, LLC, which does business as Stock+Field, has filed for Chapter 11 bankruptcy protection for debt restructuring. Chairman and CEO Matthew Whebbe said in an announcement that there have been many challenges in 2020, and the retailer chain was not immune to them. Stock+Field has commenced a closing sale process and plans to close all of its 25 stores by March.
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