Bankruptcy filings in the U.S. rose in 2019 after eight consecutive years of decline as more businesses sought Chapter 11 protection, according to new research.
Businesses and individuals filed 757,497 cases during calendar year 2019, an increase of 0.3%, data released Jan. 6 by the American Bankruptcy Institute and Epiq Systems Inc. showed.
Businesses filed 38,944 cases in 2019, a 2.4% year-over-year hike. Commercial Chapter 11 filings jumped 0.36% to 5,502.
Consumer filings inched up 0.17% to 718,553 nationwide.
Alabama had the highest rate of per capita bankruptcy filing. It reported 5.62 filings per 1,000 in population last year. It ...