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ARTICLE · 22 JANUARY 2024

Bankruptcies: They're Increasing

Epps & Coulson
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Bankruptcy filings were up 17% in the first half of 2023 of 2022 numbers and the surge continues.

United StatesInsolvency/Bankruptcy/Re-Structuring
Dawn M. Coulson
Dawn M. Coulson

Bankruptcy filings were up 17% in the first half of 2023 of 2022 numbers and the surge continues.

  • Chapter 11 commercial filings totaled 2,973 during the first half of 2023, which was a 68% increase compared to the first half of 2022.
  • Small business filings, which are identified as Subchapter V elections of Chapter 11, totaled 814 in the first six months of 2023, demonstrating a 55% increase compared to the first half of "2022.
  • Chapter 13 individual filings totaled 85,390 during first half of 2023, which was a 23% increase compared to the first half of 2022.
  • All chapter filings increased in June 2023 compared to June 2022, with 37,700 total bankruptcy filings representing a 17% increase. Looking at June comparisons, commercial filings were up 12 percent and individual filings were up 18 percent.

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