(WASHINGTON) #Coronavirus Business Report: U.S. commercial bankruptcy filings are up 33% so far this year with new cases in September surging by 78% from a year earlier as the recession triggered by the #COVID19 #pandemic hits small businesses, data released on Monday showed #AceFinanceDesk report

#AceFinanceReport – Oct.06: U.S. commercial bankruptcies up 33% year to date: Filings by individuals, however, are lower so far this year courtesy of government relief efforts: Chapter 11 bankruptcy filings totalled 747 last month, up from 420 a year earlier and from 525 in August, legal services firm Epiq said in a monthly report. Year-to-date filings total 5,529, a third higher than in the first three quarters of 2019:

#Coronavirus Business Report: U.S Commercial bankruptcy fillings rise by 33% since 2019 due to recession & #COVID19 #pandemic

Reuters Wire News, [Oct 5, 2020 at 21:33] https://t.me/reuters_news_agency/38199

“ These commercial filings are primarily small businesses that do not have access to capital or stimulus,” Deirdre O’Connor, managing director of corporate restructuring at Epiq, said in a statement. “Unfortunately, those bankruptcies will continue to rise in the current economic environment.” By contrast, noncommercial bankruptcies are lower year-to-date, largely as government relief programs such as the CARES Act helped to forestall a wave of individual insolvencies:

Chapter 13 non-commercial filings are down 43% in 2020, with 118,306 filings versus 206,933 filings in the first nine months of 2019: “Regulatory programs have effectively kicked the can down the street by injecting liquidity into the market, delaying new bankruptcy filings,” said Chris Kruse, senior vice president of Epiq AACER:

#AceFinanceDesk report ……………..Published: Oct.06: 2020:

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