Bankruptcies Increase Slightly

By Staff Writer May 07, 2023

Bankruptcy filings rose slightly for the 12-month period ending March 31, 2023, but new bankruptcy cases remain sharply lower than before the start of the COVID-19 pandemic.

According to statistics released by the Administrative Office of the U.S. Courts, total filings rose 2.0 percent, to 403,273 new cases, compared with 395,373 cases in the previous year.

Business filings increased 9.9 percent, from 13,160 in March 2022 to 14,467 in the newest report. Non-business filings rose 1.7 percent, from 382,213 in March 2022 to 388,806 in March 2023.

This year’s 12-month filing total for the quarter ending March 31 is slightly more than half of the total reported in March 2020, when the pandemic disrupted the U.S. economy. That year’s 12-month total was 764,282.

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Last modified on Wednesday, 10 May 2023 14:49