U.S. business bankruptcy down from last May

Posted on Wednesday, June 11th, 2014 at 2:32 pm    

Recent data revealed that business bankruptcy filing in May was 21 percent lower than last May, ABL Advisor reported on June 5.

According to Epiq Systems Inc. there were only 3,190 businesses in the U.S. that filed for bankruptcy in May compared to the 4,055 bankruptcy filings listed for the same month in 2013. There were only 429 businesses recorded in May that filed for Chapter 11 bankruptcy compared to the 540 recorded last year. Executive Director Samuel J. Gerdano of ABI stated that the decline of business bankruptcy was the result of manageable interest rates for entrepreneurs.

Despite the decrease in bankruptcy cases, the lawyers at Bradford Law Offices, PLLC understand that in Raleigh alone, many business owners still suffer from financial difficulties. If you are facing a situation like this, our lawyers may be able to offer you other solutions that could improve your business. Call (919) 758-8879 today to speak with an experienced attorney, and learn about your options.