Chapter 11 Business Bankruptcies Up for May 2019

Chapter 11 business bankruptcy filings in May were up 11 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 555 which is more than both 2018 with 429 business chapter 11 bankruptcy filings and 2017 with 566 chapter 11 business bankruptcy filings. Filing with less than $1,000,000 in assets totaled 207 or 37.3% while filings of more than $100,000,000 totaled 78 or 14%.

The largest bankruptcies in May were all energy related. Cloud Peak Energy is a coal mining company with operations in Wyoming and Montana, White Star Petroleum is an Oklahoma based oil and gas drilling company, and Bristow Group is a service company providing helicopter support primarily to offshore oil and gas exploration companies.

The three largest industry categories for business bankruptcies were: real estate bankruptcies (67), mining/oil & gas bankruptcies (52), and health care bankruptcies (38).

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