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IPFS News Link • Business/ Commerce

Chapter 11 Filings By Businesses Soar 61% So Far This Year

• https://www.zerohedge.com by Daphne Howland

A wide array of U.S. businesses have struggled this year. In the first nine months of 2023, commercial Chapter 11 bankruptcies have soared 61% year over year to 4,553, according to Epiq Bankruptcy, which provides U.S. bankruptcy filing data.

Small business filings in that time rose 41% to 1,419, according to the research, released by Epiq and the American Bankruptcy Institute. In all, considering every type of bankruptcy, filings in the commercial sector rose 17% to 18,680.

After recent declines thanks in part to pandemic-era financial support, consumer filings also rose this year, up 17% to 313,458, per the report. 


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