Business Bankruptcies increased 64% over the same period in 2008. This is a total of more than 30,000 businesses filing in the first half of 2009.
Chapter 11 business reorganizations increased by 113% and Chapter 7 business liquidations increased by 57% according to the American Bankruptcy Institute.
Of the 681,217 Americans who filed personal bankruptcy in the first half of 2009, it is unknow how many businesses were among these numbers.
“The increase in filings through the first half of this year is a product of continued financial stresses weighing on both consumers and businesses,” said ABI Executive Director Samuel Gerdano.
For more information: The Nashville Journal
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