Commercial chapter 11 filings totaled 733 in May, an increase of 62% over the 453 filings in April, according to data provided by Epiq AACER, a provider of U.S. bankruptcy filing data. The overall May commercial filing total of 2,695 represented an 8% increase from the April 2025 commercial filing total of 2,489. Small business filings, captured as subchapter V elections within chapter 11, increased 3% to 228 in May 2025 from 223 the previous month.
May’s 48,218 total bankruptcy filings represented a 3% decrease from April’s filing total of 49,610. The 45,523 noncommercial filings in May also represented a 3% decrease from the April 2025 noncommercial filing total of 47,121. Consumer chapter 7 filings decreased 7% to 28,716 from the 30,823 chapter 7s filed in April 2025, while chapter 13 filings increased 3% to 16,694 over the 16,198 filings in April.
“The sharp uptick in overall commercial chapter 11 filings in May 2025 underscores the ongoing economic pressures businesses face, from elevated borrower costs, potential tariff impacts and geopolitical uncertainty,” Michael Hunter, vice president of Epiq AACER, said. “Meanwhile, consumer filings continue to climb yet remain below pre-pandemic levels; however, the resumption of student loan collections and the expiration of the FHA modification programs are likely to drive further increases in filings, particularly through the end of 2025 and into 2026.”
Overall commercial filings registered a slight increase of 1% in May 2025 to 2,695 from the 2,664 commercial filings in May 2024. Commercial chapter 11 filings decreased also, as the 733 filings in May 2025 represented a 4% decline from the 765 filings reported in May 2024.
The 48,218 total U.S. bankruptcy filings in May 2025 increased 7% from the May 2024 total of 45,025. Noncommercial bankruptcy filings also registered a 7% increase, to 45,523 in May 2025 from the May 2024 noncommercial total of 42,361. The number of consumers filing for chapter 7 increased 11% to 28,716 in May 2025 from the 25,773 who filed for chapter 7 last year, while chapter 13 filings increased 1% to 16,694 in May 2025 from the 16,507 chapter 13 filings in May 2024.
“The current financial landscape presents struggling businesses and consumers with additional challenges of elevated prices, higher borrowing costs and uncertain geopolitical events,” Amy Quackenboss, executive director of the American Bankruptcy Institute, said. “Bankruptcy provides a proven process to a financial fresh start for distressed businesses and families.”
