Commercial Bankruptcies Jump by ‘Significant’ 52% Over Last Year

Commercial Chapter 11 filings in July rose 52% year-over-year, adding to a feverish streak of corporate bankruptcies this year following the Covid-19 outbreak, new data show.

In July, businesses filed 642 Chapter 11 filings, compared to 423 during the same month last year, according to a report released Wednesday by bankruptcy software developer Epiq Systems Inc. More than 4,200 commercial restructuring cases have been filed in the U.S. since the beginning of the year, it said

The “significant” growth in July was expected, as the pandemic that shuttered businesses has reshaped consumer buying habits, Deirdre O’Connor, Epiq’s managing director of ...