Thursday, January 14th, 2010
Bankruptcy filings in 2009 reach 1.44 million as consumers and businesses dealt with unemployment, foreclosure and tight credit.
A total 1,435,425 bankruptcy petitions were filed in the 50 states and Washington D.C. That figure increases to 1,446,967 when Puerto Rico, Guam and the Virgin Islands are taken into count.
Nationwide, the bankruptcy rate was up 32% in 2009 compared to 2008 and reached the highest level since the 2005 bankruptcy law change.
Arizona saw the largest increase in bankruptcy filings in the U.S., with 77% more filings in 2009 than 2008. Nevada and Wyoming followed, each with a 59% increase year-over-year. Nevada had the most filings per capita.
Bankruptcies for the year peaked in October, when 133,365 petitions were filed—the highest amount since October, 2005, when consumers rushed to file before the BAPCPA law went into effect. Filings slowed in November and December, but remained above the 2008 monthly totals.
Posted in 2009, filings, statistics, year in bankruptcy | Comments Off
Thursday, December 31st, 2009
As 2009 winds down, we'll take a quick look at some of the biggest brands and names in business that decided to file bankruptcy.
Big Brand Businesses Filing in 2009:
- Chicago Cubs - The Northsiders briefly entered bankruptcy protection when the team was sold.
- Phoenix Coyotes -The Coyotes are playing on, and playing well, despite failed attempts to sell the team.
- Six Flags -Theme park faced difficulty, but that old guy is still dancing
- Eddie Bauer -Clothing manufacturer sold, but still open.
- Reader’s Digest -Popular magazine still publishing.
- Trump Casinos -Maybe the Donald needs a new apprentice?
- The Philadelphia Inquirer -Rough year for newspapers across the country
- Chicago Sun-Times -Not to be out done by their crosstown rivals at the Tribune, the home of Rogert Ebert filed bankruptcy before being sold.
- Bennigans -The popular restaurant chain closed up shop after filing.
- Charter Communications -One of the country's largest radio station operators - 255 stations across the country.
- Ritz Camera - Still open, but forced to shutter some shops
- Samsonite -Luggage maker and retail store closed some shops, but still operating
- Tavern on the Green -Future of famed New York restaurant still up in the air
- Crabtree & Evelyn -Soap-seller still open
- Filene’s Basement - Deals still available as clothing store purchased and still open
- S&K Menswear -Suit retailer got unbuttoned, future still undecided
- Gottschalks -Department store gone for good
- Southern Voice – Large gay magazine in Atlanta quickly folded up
- New York Off Track Betting Corp -State-run betting offices muddied in debt
- Steak & Ale Restaurant and Roadhouse Grill -Steakhouses across the country got burned during the recession
Posted in 2009, Bankruptcy News and Events, celebrity bankruptcy, new year's eve | Comments Off
