Chapter 11 bankruptcy filings have seen an upward trend. In the twelve-month period ending June 30, 2024, personal and business bankruptcy filings in the United States rose 16.2 percent compared to the previous year. Annual bankruptcy filings totaled 486,613, up from 418,724 cases in the prior year. Business filings surged by 40.3 percent, reaching 22,060, while non-business filings increased by 15.3 percent to 464,553.
BREAKING: The number of US bankruptcies currently under Chapter 11 jumps to 2,462, the highest count in 13 years.
A Chapter 11 filing involves court-supervised reorganization and allows a company to stay in business and restructure its finances and operations.
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— The Kobeissi Letter (@KobeissiLetter) August 11, 2024
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