Chapter 11 filings by businesses soar 61% so far this year

In the first nine months of 2023, commercial Chapter 11 bankruptcies have soared 61% year over year to 4,553.

  • Small business filings in that time rose 41% to 1,419.
  • In all, considering every type of bankruptcy, filings in the commercial sector rose 17% to 18,680.

After recent declines thanks in part to pandemic-era financial support, consumer filings also rose this year, up 17% to 313,458.

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