November Commercial Bankruptcy Filings Up 26 Percent over Previous Year, Total Filings Down 10 Percent
Total U.S. commercial bankruptcy filings increased 26 percent in November 2016 over November of last year, according to data provided by Epiq Systems, Inc. Commercial filings totaled 2,908 in November 2016, up from the November 2015 total of 2,311. November is the thirteenth consecutive month with a year-over-year increase in commercial filings. However, total commercial chapter 11 filings decreased in November 2016, as the 385 filings were 2 percent less than the 392 commercial chapter 11 filings registered in November 2015. The total bankruptcy filings of 59,300 in November 2016 represented a 10 percent decrease from the November 2015 total of 65,562. Consumer filings also decreased as the 56,392 filings in November 2016 were down 11 percent from the November 2015 consumer filing total of 63,251.