Business Bankruptcy Filings Up in September 2019

Chapter 11 business bankruptcy filings in June were up 36 percent from the same time period last year. (If you are interested in information on filings in your area, please comment below so that we can contact you.) Total filings were 394 which is more than 2018 which had 290 business chapter 11 bankruptcy filings and less than 2017 which had 443 chapter 11 business bankruptcy filings. Filings with less than $1,000,000 in assets totaled 201 or 51.0% while filings of more than $100,000,000 totaled 33 or 8.3%. The largest bankruptcies in June were Forever 21, Inc., Purdue Pharma, LPAlta Mesa Resources, Inc.,  .   Forever 21 is a large fast fashion clothing retailer.  Purdue a pharmaceutical company that is one the primary companies involved in the opioid litigation.  Alta Mesa is an oil and gas company. The largest industry categories for business bankruptcies were: real estate bankruptcies (55), health care (31), and retail (27).  The industry counts include chapter 11 bankruptcies that have assets of more than $100,000.

Leave a Reply

Your email address will not be published. Required fields are marked *