More than 30,000 U.S. businesses filed for bankruptcy protection in the first half of 2009, a 64 percent increase from first half 2008, according to the American Bankruptcy Institute (ABI).
The number of Chapter 11 business reorganizations increased by 113 percent, to 7,396, and Chapter 7 business liquidations jumped by 57 percent, to 20,375.
ABI executive director Samuel Gerdano expects personal and commercial bankruptcies to surge past 1.4 million by year end.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
