Business bankruptcy filings are running 80% above one-year ago and have more than tripled compared to two years ago. During June more than 10,000 bankruptcy filings were made by small businesses, a new record. According to Equifax there were 10,339 business bankruptcy filings in June, up from 5,712 a year ago. According to the Administrative Office of the U.S. Courts total business bankruptcy filings in the first quarter were 14,319, compared to 12,901 in the fourth quarter and 8,712 in 1Q/08. Based on the 81% increase reported by Equifax for June, second quarter 2009 business bankruptcy filings will likely top 17,500 and the third quarter could approach 20,000. Equifax says the latest data show California is the most negatively affected state with 10 MSA’s among the 15 areas with the most commercial bankruptcy filings during June. The other MSA’s with the most bankruptcy filings during the month include: Charlotte-Gastonia-Concord, NC-SC; Atlanta-Sandy Springs-Marietta, GA; Portland-Vancouver-Beaverton, OR-WA; and Dallas-Plano-Irving, TX. The areas with the fewest small-business
bankruptcy filings include: Springfield, MA; Lafayette, LA; Cedar Rapids, IA; Charleston, WV; and Hagerstown-Martinsburg, MD-WV.
BUSINESS BANKRUPTCY FILINGS
Source: CardData (www.carddata.com)