The number of businesses and individuals that sought bankruptcy protection last year fell to 1,221,091 from 1,410,653 in 2011, according to data released yesterday by the Administrative Office of the U.S. Courts, Dow Jones Daily Bankruptcy Review reported today. Business filings measured 40,075, down 16 percent from 47,806 in 2011. Now, low interest rates are enabling companies to refinance, kicking their financial troubles down the road and staying clear of bankruptcy court. "I think bankruptcy filings on the business side will continue to be suppressed," said ABI Executive Director Sam Gerdano. "I think that's the reality; that's the new normal."
