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Corporate Bankruptcies on the Rise

For anyone reading the business pages these days, the increased number of corporate bankruptcies should come as no surprise. But on top of the steady flow of anecdotal evidence, The Conglomerate now provides us with statistics on the uptick in filings. Consider that during the past 90 days alone, "according to filings posted on PACER, 395 chapter 11 cases were filed in the District of Delaware and 107 such cases were filed in the Southern District of New York." And the trend is crossing the pond: Business bankruptcies are up by 26 percent in the United Kingdom. 

More bankruptcies will bring more layoffs for many employees, except perhaps for those working at the law firms handling the bankruptcy work.

Posted by Carolyn Elefant on November 18, 2008 at 09:58 AM | Permalink | Comments (0)


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