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According to the Administrative Office of the U.S. Courts, the number of business bankruptcies filed in the first quarter of 2019 totaled 5,614, decreased by 1.0% from 5,669 business bankruptcies filed in the same quarter of 2018.

US Total Business Bankruptcy Filings (Q1 2017 – Q1 2019)

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
2019	Q1	5,614	-1.0%
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

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09.09.2019 Fred’s Inc. filed for Chapter 11 bankruptcy protection (9 Sep 2019) Fred’s Inc. (NASDAQ: FRED), a US-based pharmacy and discount retailer, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court as it failed to find a turnaround plan following yearly losses since 2015. The company said liquidation sales would take place at its stores and expected to close all of its roughly 300 retail stores in the coming 60 days.
12.08.2019 Loot Crate Inc. filed for Chapter 11 bankruptcy protection (12 Aug 2019) Loot Crate Inc., a US-based e-commerce subscription startup business, has filed for Chapter 11 bankruptcy protection to facilitate the sale of all its assets to Loot Crate Acquisition LLC, an affiliate of existing Loot Crate investor Money Chest LLC. The move is expected to give Loot Crate a US$10 million loan to help keep its operations running as it undergoes acquisition. Before the bankruptcy announcement, Loot Crate had already laid off 150 of its warehouse employees last month.
05.08.2019 Barneys New York, Inc. filed for Chapter 11 bankruptcy protection (5 Aug 2019) Barneys New York, Inc., a US-based luxury department store chain, has filed for Chapter 11 bankruptcy protection with plans to close 15 of its 22 stores. CEO Daniella Vitale said in a statement that company’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand. CEO mentioned the Chapter 11 filing would allow the company to put itself for sale, review current leases and optimize the operations.
11.07.2019 Charming Charlie Holdings Inc. filed for Chapter 11 bankruptcy protection (11 Jul 2019) Charming Charlie Holdings Inc., a US-based clothing, jewelry and accessories retailer, has filed for Chapter 11 bankruptcy protection with plans to close all of its 261 stores in 38 states. It is the company’s second bankruptcy filing in less than two years. The company said in a court filing that it faced headwinds given the continuous decline of the brick-and-mortar retail industry. Going-out-of-business sales are already underway and the chain expects to cease all operations by 31 August.
01.07.2019 Monitronics International Inc. filed for Chapter 11 bankruptcy protection (1 Jul 2019) Monitronics International Inc., a US-based home and business alarm systems provider, has filed for Chapter 11 bankruptcy protection. Under the terms of the proposed plan, Monitronics will eliminate approximately US$885 million in debt and emerge from Chapter 11 in approximately 75 days. Monitronics expects to continue to operate its business in the ordinary course throughout the restructuring.
03.06.2019 FTD Cos. Inc. filed for Chapter 11 bankruptcy protection (3 Jun 2019) FTD Cos. Inc. (NASDAQ:FTD), a US-based flower-delivery business, has filed for Chapter 11 bankruptcy protection, planning to put its businesses up for sale to pay off an overload of debt it took on to buy former rival ProFlowers in 2014. The company had approximately 872 workers in North America at the time of bankruptcy filing. The company said it will continue to support its network for florists as it carries out business as normal.
01.04.2019 Hexion Inc., LLC filed for Chapter 11 bankruptcy protection (1 Apr 2019) Hexion Inc., a manufacturer of thermoset resins and specialty products controlled by funds affiliated with Apollo Global Management LLC, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court after reaching a restructuring agreement with the vast majority of its lenders. The company said in a news release that all of its global business segments are continuing to operate as normal, and its operations outside the US are not included in the Chapter 11 proceedings.
11.03.2019 Z Gallerie, LLC filed for Chapter 11 bankruptcy protection (11 Mar 2019) Z Gallerie, LLC, a US-based home furnishings retailer, has filed for Chapter 11 bankruptcy protection. According to court filing, the company intends to close as many as 17 of its 76 stores and will seek approval of a US$28 million facility from its existing secured lender. All of its stores nationwide will remain open and continue to operate on a normal schedule for the course of the estimated four-month Chapter 11 processes.
05.03.2019 Diesel USA Inc. filed for Chapter 11 bankruptcy protection (5 Mar 2019) Diesel USA Inc., a US-based jeans maker and a unit of Italy’s Diesel SpA, has filed for Chapter 11 bankruptcy protection. The company attributed the filing to the general downturn in the brick-and-mortar retail industry, expensive long-term leases for certain retail locations as well as multiple incidents of theft and fraud. A court filing showed that the company has formulated a reorganization business plan which will require investment of approximately US$36 million over the three-year period.
18.02.2019 Payless ShoeSource Inc. filed for Chapter 11 bankruptcy protection (18 Feb 2019) Payless ShoeSource Inc, a US-based discount footwear retailer, has filed for Chapter 11 bankruptcy protection for the second time in two years. Certain Payless Canadian subsidiaries will also be seeking bankruptcy protection in the Canadian Court. The company said in a press release that it would wind down its approximately 2,500 store locations in North America and its e-commerce operations, but retail operations outside of North America will continue operating business as usual. The company, taken private in 2012 in a US$2 billion leveraged buyout, has been hit by declining sales with increased competition from Target, Walmart and others.
13.02.2019 Imerys Talc America Inc. filed for Chapter 11 bankruptcy protection (13 Feb 2019) Imerys Talc America Inc, a US-based talc manufacturer and a key supplier to healthcare conglomerate Johnson & Johnson’s baby powder, has filed for Chapter 11 bankruptcy protection as the company faces multibillion-dollar lawsuits alleging its products caused cancer. The company’s president said in a press release that pursuing Chapter 11 protection is the best course of action to address the historic talc-related liabilities and position the filing companies for continued growth. The companies will be operating as usual throughout the Chapter 11 process and expected to emerge by 2020.
16.01.2019 Shopko Stores Operating Co. filed for Chapter 11 bankruptcy protection (16 Jan 2019) Shopko Stores Operating Co., LLC, a US-based general merchandise retailer that operates more than 360 stores in 26 states, has filed for Chapter 11 bankruptcy protection. The retailer is seeking to facilitate the financial restructuring as a result of excess debt and ongoing competitive pressures. During the restructuring process, Shopko will continue to operate and serve its customers, vendors, partners and employees.
07.01.2019 Beauty Brands filed for Chapter 11 bankruptcy protection (7 Jan 2019) Beauty Brands, a US-based salon and spa retailer, has filed for Chapter 11 bankruptcy protection. The retailer has entered into an asset purchase agreement with Hilco Merchant Resources for a sale of its operating assets. The filing comes just a few weeks after the retailer announced it would be closing 25 stores and cutting down corporate staff. The retailer’s remaining 33 stores would continue operating as it searches for a sale of its operating assets.

09.09.2019

Fred’s Inc. filed for Chapter 11 bankruptcy protection (9 Sep 2019)

Fred’s Inc. (NASDAQ: FRED), a US-based pharmacy and discount retailer, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court as it failed to find a turnaround plan following yearly losses since 2015. The company said liquidation sales would take place at its stores and expected to close all of its roughly 300 retail stores in the coming 60 days.

12.08.2019

Loot Crate Inc. filed for Chapter 11 bankruptcy protection (12 Aug 2019)

Loot Crate Inc., a US-based e-commerce subscription startup business, has filed for Chapter 11 bankruptcy protection to facilitate the sale of all its assets to Loot Crate Acquisition LLC, an affiliate of existing Loot Crate investor Money Chest LLC. The move is expected to give Loot Crate a US$10 million loan to help keep its operations running as it undergoes acquisition. Before the bankruptcy announcement, Loot Crate had already laid off 150 of its warehouse employees last month.

05.08.2019

Barneys New York, Inc. filed for Chapter 11 bankruptcy protection (5 Aug 2019)

Barneys New York, Inc., a US-based luxury department store chain, has filed for Chapter 11 bankruptcy protection with plans to close 15 of its 22 stores. CEO Daniella Vitale said in a statement that company’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand. CEO mentioned the Chapter 11 filing would allow the company to put itself for sale, review current leases and optimize the operations.

11.07.2019

Charming Charlie Holdings Inc. filed for Chapter 11 bankruptcy protection (11 Jul 2019)

Charming Charlie Holdings Inc., a US-based clothing, jewelry and accessories retailer, has filed for Chapter 11 bankruptcy protection with plans to close all of its 261 stores in 38 states. It is the company’s second bankruptcy filing in less than two years. The company said in a court filing that it faced headwinds given the continuous decline of the brick-and-mortar retail industry. Going-out-of-business sales are already underway and the chain expects to cease all operations by 31 August.

01.07.2019

Monitronics International Inc. filed for Chapter 11 bankruptcy protection (1 Jul 2019)

Monitronics International Inc., a US-based home and business alarm systems provider, has filed for Chapter 11 bankruptcy protection. Under the terms of the proposed plan, Monitronics will eliminate approximately US$885 million in debt and emerge from Chapter 11 in approximately 75 days. Monitronics expects to continue to operate its business in the ordinary course throughout the restructuring.

03.06.2019

FTD Cos. Inc. filed for Chapter 11 bankruptcy protection (3 Jun 2019)

FTD Cos. Inc. (NASDAQ:FTD), a US-based flower-delivery business, has filed for Chapter 11 bankruptcy protection, planning to put its businesses up for sale to pay off an overload of debt it took on to buy former rival ProFlowers in 2014. The company had approximately 872 workers in North America at the time of bankruptcy filing. The company said it will continue to support its network for florists as it carries out business as normal.

01.04.2019

Hexion Inc., LLC filed for Chapter 11 bankruptcy protection (1 Apr 2019)

Hexion Inc., a manufacturer of thermoset resins and specialty products controlled by funds affiliated with Apollo Global Management LLC, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court after reaching a restructuring agreement with the vast majority of its lenders. The company said in a news release that all of its global business segments are continuing to operate as normal, and its operations outside the US are not included in the Chapter 11 proceedings.

11.03.2019

Z Gallerie, LLC filed for Chapter 11 bankruptcy protection (11 Mar 2019)

Z Gallerie, LLC, a US-based home furnishings retailer, has filed for Chapter 11 bankruptcy protection. According to court filing, the company intends to close as many as 17 of its 76 stores and will seek approval of a US$28 million facility from its existing secured lender. All of its stores nationwide will remain open and continue to operate on a normal schedule for the course of the estimated four-month Chapter 11 processes.

05.03.2019

Diesel USA Inc. filed for Chapter 11 bankruptcy protection (5 Mar 2019)

Diesel USA Inc., a US-based jeans maker and a unit of Italy’s Diesel SpA, has filed for Chapter 11 bankruptcy protection. The company attributed the filing to the general downturn in the brick-and-mortar retail industry, expensive long-term leases for certain retail locations as well as multiple incidents of theft and fraud. A court filing showed that the company has formulated a reorganization business plan which will require investment of approximately US$36 million over the three-year period.

18.02.2019

Payless ShoeSource Inc. filed for Chapter 11 bankruptcy protection (18 Feb 2019)

Payless ShoeSource Inc, a US-based discount footwear retailer, has filed for Chapter 11 bankruptcy protection for the second time in two years. Certain Payless Canadian subsidiaries will also be seeking bankruptcy protection in the Canadian Court. The company said in a press release that it would wind down its approximately 2,500 store locations in North America and its e-commerce operations, but retail operations outside of North America will continue operating business as usual. The company, taken private in 2012 in a US$2 billion leveraged buyout, has been hit by declining sales with increased competition from Target, Walmart and others.

13.02.2019

Imerys Talc America Inc. filed for Chapter 11 bankruptcy protection (13 Feb 2019)

Imerys Talc America Inc, a US-based talc manufacturer and a key supplier to healthcare conglomerate Johnson & Johnson’s baby powder, has filed for Chapter 11 bankruptcy protection as the company faces multibillion-dollar lawsuits alleging its products caused cancer. The company’s president said in a press release that pursuing Chapter 11 protection is the best course of action to address the historic talc-related liabilities and position the filing companies for continued growth. The companies will be operating as usual throughout the Chapter 11 process and expected to emerge by 2020.

16.01.2019

Shopko Stores Operating Co. filed for Chapter 11 bankruptcy protection (16 Jan 2019)

Shopko Stores Operating Co., LLC, a US-based general merchandise retailer that operates more than 360 stores in 26 states, has filed for Chapter 11 bankruptcy protection. The retailer is seeking to facilitate the financial restructuring as a result of excess debt and ongoing competitive pressures. During the restructuring process, Shopko will continue to operate and serve its customers, vendors, partners and employees.

07.01.2019

Beauty Brands filed for Chapter 11 bankruptcy protection (7 Jan 2019)

Beauty Brands, a US-based salon and spa retailer, has filed for Chapter 11 bankruptcy protection. The retailer has entered into an asset purchase agreement with Hilco Merchant Resources for a sale of its operating assets. The filing comes just a few weeks after the retailer announced it would be closing 25 stores and cutting down corporate staff. The retailer’s remaining 33 stores would continue operating as it searches for a sale of its operating assets.

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