Chapter 11 bankruptcies this year are on track to hit the lowest yearly total in nearly 40 years, according to new data.
The 195 commercial Chapter 11 filings in November 2021 represented a 70% year-over-year drop from 654, the American Bankruptcy Institute said Tuesday, citing data from Epiq Systems Inc.
Low interest rates, lenders giving borrowers breaks, and pandemic relief programs contributed the the drop, the ABI said.
Total commercial bankruptcy filings, including Chapter 11 and other options, decreased 33% in November from a year ago, the data showed.
The 373,312 total bankruptcies through the first 11 months of 2021 ...