Total commercial bankruptcy filings in February 2013 decreased 29% from business filings recorded in February 2012, according to ABI and Epiq Systems.
The total commercial bankruptcy filings in January 2013 fell to 3,728, representing a 26% decline from the 5,006 business filings recorded in January 2012, according ABI and Epiq Systems.
According to data provided by Epiq Systems, total commercial filings during calendar year 2012 were 57,788, a 22% drop from the 74,415 filing during the same period in 2011.
For this year’s Bankruptcy Issue, ABF Journal and the New York Institute of Credit are pleased to present Judge Kevin J. Carey’s perspective on the shifting dynamics and new realities occurring in Chapter 11 process for middle-market companies.
Given what Spence Mehl calls “a bloodbath of bankruptcies” in the retail space in 2008 and 2009, last year brought surprisingly fewer bankruptcies than most had anticipated. And while bankruptcy still loomed heavily for nearly all the big chains in 2010, the difference was that retailers themselves executed their own top-to-bottom restructuring plans. But, Mehl warns, retailers aren’t out of the woods yet.