Businesses filing for bankruptcy dropped last year

Posted on Saturday, January 11th, 2014 at 5:26 pm    

A 24 percent drop in business bankruptcies in the United States was observed in 2013, the American Bankruptcy Institute (ABI) reported on Monday, January 6.

According to the report produced by Epiq Systems Inc. for ABI, only 44,111 businesses filed for bankruptcy last year, which is a decrease from the 57,964 businesses that filed in 2012. It is considered to be the lowest number of business bankruptcies in seven years.

ABI said a 13 percent total drop in the number of businesses and individuals filing for bankruptcy was observed in 2013.

Despite this drop in business bankruptcy, many companies in Raleigh may still be struggling financially. If this is the case for your company, our team at the Bradford Law Offices, PLLC, can help you assess your financial and legal options. Discuss debt negotiation, bankruptcy, and other options by calling (919) 758-8879 today.