New bankruptcy filings during Q1/24 registered year-over-year increases across all major filing categories in the U.S., according to Epiq Bankruptcy, with total commercial Chapter 11 filings registering the largest increase, rising 43% year over year.
Commercial Chapter 11 bankruptcy filings climbed 118% year over year in February 2024, with the 822 filings during the month comparing to the 377 filings in February 2023, according to Epiq Bankruptcy.
Chapter 11 bankruptcy filings increased 22% year over year in January, while small business filings, captured as Subchapter V elections within Chapter 11, increased 43%, according to Epiq Bankruptcy.
The bankruptcy filing by WeWork in November propelled November commercial Chapter 11 filings to 842, an increase of 141% compared with the 349 filings registered in November 2022, according to data provided by Epiq Bankruptcy.
There were 631 commercial Chapter 11 bankruptcy filings registered in the U.S. in October, an increase of 106% from the 306 filings registered in October 2022, according to data provided by Epiq Bankruptcy.
The 4,553 total commercial Chapter 11 bankruptcies filed during the first nine months of 2023 represented a 61% increase over the 2,837 filed during the same period in 2022, according to data provided by Epiq Bankruptcy.
There were 634 commercial Chapter 11 filings registered in August, an increase of 54% from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy.
There were 362 commercial Chapter 11 filings registered in July 2023, an increase of 71% from the 212 filings registered in July 2022, according to data provided by Epiq Bankruptcy.
According to data provided by Epiq Bankruptcy, the 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a 68% increase over the 1,766 filed during the same period in 2022. Individual Chapter 13 filings increased by 23% during the same period.
According to Epiq Bankruptcy, commercial Chapter 11 filings increased 105% in May 2023 to 680 versus the 332 filings in May 2022. Nearly half of the Chapter 11 filings were made by corporate subsidiaries.