The bankruptcy filing by WeWork, Inc. in November propelled November commercial chapter 11 filings to 842, an increase of 141 percent over the 349 filings registered in November 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. The case filed by WeWork, Inc. on Nov. 6 included 517 related filings, according to an ABI analysis, representing the third-most related filings in a case since the Bankruptcy Code became effective in 1979. Overall commercial filings increased 21 percent to 2,252 in November 2023, up from the 1,864 commercial filings registered in November 2022. Small business filings, captured as subchapter V elections within chapter 11, increased 79 percent to 181 in November 2023, up from 101 in November 2022. Total bankruptcy filings were 37,860 in November 2023, a 21 percent increase from the November 2022 total of 31,187. Individual bankruptcy filings also registered a 21 percent year-over-year increase, as the 35,608 in November 2023 represented an increase over the 29,323 filings in November 2022. There were 20,250 individual chapter 7 filings in November 2023, a 23 percent increase over the 16,421 filings recorded in November 2022, and there were 15,280 individual chapter 13 filings in November 2023, a 19 percent increase over the 12,862 filings the previous November.
