Total commercial chapter 11 filings in July 2020 increased 52 percent from the previous year, according to data provided by Epiq. Commercial chapter 11 filings totaled 643 in July 2020, expanding from the July 2019 total of 423. Conversely, total commercial filings decreased 17 percent in July 2020, as the 2,768 filings were down from the 3,314 commercial filings registered in July 2019. The 42,861 total bankruptcy filings in July 2020 were down 33 percent from the 64,345 total filings in July 2019. Total consumer filings decreased 34 percent in July 2020, as the 40,093 filings fell from the 61,031 consumer filings registered in July 2019. “As the government considers renewing or bolstering lifelines to help stabilize the economy, the financial uncertainty due to the COVID-19 pandemic is weighing on families and businesses,” said ABI Executive Director Amy Quackenboss. “We anticipate filings increasing in the next few months as more households and companies seek the shelter of bankruptcy amid intensifying financial distress.”
