Updates to Retail Dive’s bankruptcy tracker have been numerous in 2023 so far, with the all-important holiday quarter left to go.
A wide array of U.S. businesses have struggled this year. In the first nine months of 2023, commercial Chapter 11 bankruptcies have soared 61% year over year to 4,553, according to Epiq Bankruptcy, which provides U.S. bankruptcy filing data.
Small business filings in that time rose 41% to 1,419, according to the research, released by Epiq and the American Bankruptcy Institute. In all, considering every type of bankruptcy, filings in the commercial sector rose 17% to 18,680.
After recent declines thanks in part to pandemic-era financial support, consumer filings also rose this year, up 17% to 313,458, per the report.
“ On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. ” ~ H. L. Mencken