Sunday, August 16, 2009

Bankruptcy filings surge in first-half 2009

"U.S. bankruptcy filings rose 38 percent in April-June from a year ago, according to court data released Thursday, as consumers and business were hit by rising unemployment and a lack of credit."

"Overall, 381,073 bankruptcies were filed in the second quarter, up 15 percent from the first three months of the year and up 38 percent from a year ago, according to the Administrative Office of the U.S. Courts."

"More than 16,000 businesses filed for bankruptcy in the quarter, the highest in the three-month period since 1993, according to the American Bankruptcy Institute."

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