AOUSC: Bankruptcy Filings Fall To Fewest Since 1985 Amid COVID-19 Stimulus

The number of bankruptcy filings in the US has fallen to a level not seen since 1985, thanks to government interventions that kept people afloat during the COVID-19 pandemic and allowed companies to raise cash through debt, the Wall Street Journal reported. In a year marked by lockdowns and periods of high unemployment, 462,309 individuals and companies filed for bankruptcy in the year ended June 30, down 32% from the previous year, according to data compiled by the Administrative Office of the US Courts. That was the lowest tally for a 12-month period since 1985, the administrative office said. Personal bankruptcy filings fell 33% to about 444,000, while business filings declined 17% to about 22,500.

Thursday, August 5, 2021

Source: www.abi.org