Commercial chapter 11 filings increased 72 percent to 6,569 in calendar year 2023 from the previous year’s total of 3,819, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings increased 19 percent to 25,627 from the 21,479 registered the previous year. Subchapter V elections within chapter 11 also experienced a substantial increase in calendar year 2023, as the 1,939 filings represented a 45 percent increase from the 1,334 recorded in 2022. Total bankruptcy filings in calendar year 2023 were 445,186, an 18 percent increase from the 378,390 registered during calendar year 2022. While representing a substantial year-over-year increase, total bankruptcy filings remain lower than the pre-pandemic total of 757,816 recorded in CY2019.
