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Castle Law Office Bankruptcy News for Missouri & Illinois | Castle Law Bankruptcy Current Events
St. Louis Business' Bankruptcy Filings See Big Increase
Posted on Jan 19, 2010
According to a recent study, the number of businesses in the St. Louis area that have filed for bankruptcy saw an increase of 19 percent in 2009.
In a report released by Hoffman Clark, an accounting firm out of Clayton, Missouri, on January 11, 398 St. Louis businesses filed for bankruptcy in the year ending December 31. That number is an increase from 334 in 2008 and 176 in 2007.
The number of businesses that filed for bankruptcy in the St. Louis area in the fourth quarter of 2009 was 108, the highest quarterly number since the recession began. That represents an increase of six percent from the third quarter of 2009 and 26 percent from the same quarter in 2008.
The Hoffman Clark Business Bankruptcy Trends Report focuses on bankruptcy filings involving business debts. Non-business bankruptcy filings, also called personal or consumer bankruptcy filings, are not included in the report.
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