Total, consumer and business filings continued their decline in January 2022 compared to last year, according to data provided by Epiq. Total filings in January 2022 were 26,195, representing a 19 percent decrease from the January 2021 filing total of 32,312. Consumer filings decreased 18 percent, falling to 24,696 in January 2022 from 30,263 in January 2021. The 1,499 commercial filings in January 2022 were 27 percent fewer than the 2,049 registered in January 2021. Commercial chapter 11 filings in January 2022 totaled 223, a 53 percent drop from the 479 commercial chapter 11 filings in January 2021. “Though filings continue to decrease, consumers and businesses are faced with less government relief, fewer lender deferments, rising inflation, worker shortages and supply chain challenges,” said ABI Executive Director Amy Quackenboss. “With mounting economic uncertainties amid the ongoing pandemic, congressional consideration of extending or permanently making the expanded eligibility limit of small businesses electing to file for subchapter V under chapter 11 will provide a proven path for small businesses to successfully restructure, reduce liquidations and save jobs.” Total filings for January decreased 6 percent from the 27,980 total filings in December 2021. Total noncommercial filings for January also decreased 6 percent from the December 2021 noncommercial filing total of 26,304. January’s commercial filing total represented an 11 percent decrease from the December 2021 commercial filing total of 2,197. Commercial chapter 11 filings in January 2022 represented a 28 percent decrease from the 310 filings recorded in December 2021. Read more.
To examine potential restructuring trends that may surface in 2022, ABI and PwC are hosting a special free abiLIVE webinar tomorrow at 12:30 p.m. ET. The panelists, who include Rachel Albanese of DLA Piper, Lorie Beers of Cowen and Company, Steven Fleming of PwC US and David Tyburski of PwC US, will also explore industries to watch and will hold a live Q&A session with the audience. ABI Editor-at-Large Bill Rochelle will moderate the session. To enjoy complimentary registration, please click here.
