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Chapter 11 Bankruptcy Filings Surge 48% in May From Year Ago

Chapter 11 Bankruptcy Filings Surge 48% in May From Year Ago
(Cgracer/Dreamstime)

Friday, 05 June 2020 07:50 AM

U.S. commercial bankruptcy filings under Chapter 11 of the U.S. Bankruptcy Code jumped in May by 48% from year earlier, marking an initial wave of insolvencies arising from the business disruptions triggered by the COVID-19 pandemic, the American Bankruptcy Institute said on Thursday.

Chapter 11 filings rose 28% in May from April, ABI said, citing data from Epiq Systems, including filings by major retail chains such as J.C. Penney and Neiman Marcus. Total U.S. bankruptcy filings, meanwhile, fell 42% in May from year earlier, with consumer filings down 43%, ABI said.

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Economy
U.S. commercial bankruptcy filings under Chapter 11 of the U.S. Bankruptcy Code jumped in May by 48% from year earlier, marking an initial wave of insolvencies arising from the business disruptions triggered by the COVID-19 pandemic, the American Bankruptcy Institute said...
chapter 11, bankruptcy, filings, surge
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2020-50-05
Friday, 05 June 2020 07:50 AM
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