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Bankruptcy Information

According to the Administrative Office of the U.S. Courts, the number of business bankruptcies filed in the fourth quarter of 2018 totaled 5,855, increased by 2.2% from 5,727 business bankruptcies filed in the same quarter of 2017.

US Total Business Bankruptcy Filings (Q4 2016 – Q4 2018)

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
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


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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