BREAKING POINT: Chapter 11 Filings Soar! Where This Goes From Here


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Chapter 11 filings by businesses soar 61% so far this year, report finds More small businesses and consumers also turned to bankruptcy in the first nine months of 2023, per Epiq and the American Bankruptcy Institute. A wide array of U.S. businesses have struggled this year. In the first nine months of 2023, commercial Chapter 11 bankruptcies have soared 61% year over year to 4,553, according to Epiq Bankruptcy, which provides U.S. bankruptcy filing data. Small business filings in that time rose 41% to 1,419, according to the research, released by Epiq and the American Bankruptcy Institute. In all, considering every type of bankruptcy, filings in the commercial sector rose 17% to 18,680. After recent declines thanks in part to 2020-era financial support, consumer filings also rose this year, up 17% to 313,458, per the report. #bankrupt #bankruptcy #chapter11 #default #debt #interestrates #economy

Timestamps:
Companies Going Bankrupt Rising 0:56
What Can I Do? 15:09

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