BankruptcyData released its Q2 2017 Business Bankruptcy Filings Report, which indicates that the Retail, Services and Finance/Insurance/Real Estate sectors increased their percentages of overall business bankruptcies during Q2 2017, compared to the same period last year; and, YTD, the Retail sector is up approximately 35% compared to the same periods in both 2016 and 2015.
During 2Q 2017 Texas overtook New York as the state generating the highest percentage (nearly 20%) of overall business bankruptcies but New York retained top billing with 17% of YTD 2017 business bankruptcy filings.
As usual, small businesses make up the lion’s share of filings, with companies reporting sales less than $500K generating 56% of all business bankruptcy filings during Q2 2017 and 61% YTD 2017. Similarly, business with less than 50 employees generated 87% of all bankruptcies during the first six months of 2017.
Though overall bankruptcy activity is trending upward, public company bankruptcies are down 31% thus far in 2017: 42 public companies filed for bankruptcy in the first six months of 2017, versus 61 in 2016.
Download the Q2 2017 Business Bankruptcy Filings Report directly to your browser for immediate access to nearly 30 pages of analytical charts and graphs reflecting current U.S. Bankruptcy Court activity.