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Bankruptcy Information

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


11.03.2020

Modell Sporting Goods Inc. filed for Chapter 11 bankruptcy protection (11 Mar 2020)

Modell Sporting Goods Inc., a US-based sporting goods retailer with 153 stores, has filed for Chapter 11 bankruptcy protection in the US. The company’s President and CEO said in an interview that the company was hurt by a warmer winter, fewer days in the shopping season this year between Thanksgiving and Christmas, competition from Amazon and the coronavirus pandemic. The company will initiate store-closing liquidation sales beginning 13 March. Meanwhile, online sales will continue during the process.

17.02.2020

Pier 1 Imports Inc filed for Chapter 11 bankruptcy protection (17 Feb 2020)

Pier 1 Imports Inc, a US-based home furnishings chain, has filed for Chapter 11 bankruptcy protection to facilitate a company sale after the retailer found itself squeezed by online rivals and crushed under high debt. The company has won court approval for a speedy sale process a day after the retailer tumbled into bankruptcy. The company has also secured commitments of approximately US$256 million in debtor-in-possession financing. The funding, combined with its own cash, to provide enough liquidity to support reduced operations and its sale process.

13.02.2020

McClatchy Co. filed for Chapter 11 bankruptcy protection (13 Feb 2020)

McClatchy Co., one of US’s largest newspaper publishers, has filed for Chapter 11 bankruptcy protection in the US. The move will allow it to forward a plan to eliminate 60% of the company’s US$700 million in debt. The company has obtained US$50 million debtor-in-possession financing, and said that its 30 newsrooms would continue to operate as usual during the process.

05.01.2020

Borden Dairy Co. filed for Chapter 11 bankruptcy protection (5 Jan 2020)

America’s second largest milk producer, Borden Dairy Co., has filed for Chapter 11 bankruptcy protection in the US. The company said the industry is facing the falling of milk consumption, rising raw-milk costs, increasing freight costs, among other things. The company said in its website that it intends to use the court process to pursue a financial restructuring designed to reduce its current debt load, adding that it plans to continue operating in the ordinary course of business under the court’s supervision.
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