Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. bankruptcies increased in March in sign backlog may be clearing: Epiq AACER

Stock MarketsApr 05, 2021 05:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. The coronavirus disease (COVID-19) outbreak in New York City

By Howard Schneider

WASHINGTON (Reuters) - U.S. bankruptcies surged in March to the highest level in a year, driven by a 41% jump in month-to-month filings by consumers, data firm Epiq AACER reported on Monday.

Overall commercial filings also increased, though the Chapter 11 bankruptcy used by larger companies fell, the firm said.

U.S. bankruptcies had declined through much of the pandemic year, a fact Epiq AACER officials suspected was just a delay in filings due to the flow of fiscal support to consumers or even courthouse closures during the peak of the pandemic.

That may now be reversing. All noncommercial filings increased by nearly 12,000 in March to just over 41,000, the company reported.

With vaccines being distributed and the economy recovering, bankruptcies may also return closer to the pre-pandemic trend, said Epiq AACER Senior Vice President Chris Kruse.

The decline in Chapter 11 filings, to 384 for the month, was "a direct reflection of both lenders and owners working with companies to protect their investments outside of a bankruptcy process," said Epiq's senior managing director of corporate restructuring, Deirdre O'Connor.

U.S. bankruptcies increased in March in sign backlog may be clearing: Epiq AACER
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Todd Gray
Todd Gray Apr 05, 2021 7:46PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
here's the real state of the economy! the media and analysts have ignored the underlying realities to pump up the markets on farts.nothing real is real anymore. and, that's the normal state of existence these days.
Franco Dominguez
Franco Dominguez Apr 05, 2021 7:46PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
and the inflation too
Jouni Matero
Jouni Matero Apr 05, 2021 4:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
But stocks/indices to ATH no matter what news, amen to that
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email