Chapter 11 Business Bankruptcies Up for June 2019

Chapter 11 business bankruptcy filings in June were up 62 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 403 which is more than 2018 with 294 business chapter 11 bankruptcy filings and less than 2017 with 577 chapter 11 business bankruptcy filings. Filings with less than $1,000,000 in assets totaled 210 or 52.1% while filings of more than $100,000,000 totaled 38 or 9.4%. The largest bankruptcies in June were Monitronics International, Inc., Legacy Reserves, Inc. and Fusion Connect, Inc.  Monitronics provides monitored home and business alarm systems under the tradename Brinks Home Security.  Legacy Reserves is a publicly traded company oil producer with assets mainly in the Permian Basin.  Fusion Connect is a provider of cloud computing resources. The largest industry categories for business bankruptcies were: real estate bankruptcies (67), mining/oil & gas bankruptcies (33), and manufacturing and information (25 each).  The industry counts include chapter 11 bankruptcies that have assets of more than $100,000.

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