Commercial Chapter 11 Filings Increased 70 Percent in First Half of 2024; Total Filings Increased 7 Percent

Commercial Chapter 11 Filings Increased 70 Percent in First Half of 2024; Total Filings Increased 7 Percent

 The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70 percent increase over the 582 filed during the same period in 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. All chapters increased in June 2024 compared to June 2023. Overall commercial filings registered 2,743 for the first half of 2024, representing a 27 percent increase from the commercial filing total of 2,154 for the first half of 2023. Small business filings, captured as subchapter V elections within chapter 11, totaled 306 in the first six months of 2024, a 76 percent increase from the 174 elections during the same period in 2023. Total bankruptcy filings were 40,262 during the first six months of 2024, a 7 percent increase from the 37,790 total filings during the same period a year ago. Total individual filings registered a 5 percent increase, as the 37,519 filings during the first half of 2024 were up from the 35,636 filings during the first six months of 2023. The 15,228 individual chapter 13 filings in the first half of 2024 represent a 2 percent increase over the 14,991 filings during the same period in 2023.
Please note that in order to view the content for the Bankruptcy Headlines you must either sign in if you are already an ABI member, or otherwise you may Become an ABI Member