Chapter 11 Filings Increase 26% in May

Bankruptcy filings totaled 31,292 in May, down 3.79% from April. May filings marked a 10.05% decrease year over year when compared to the 34,789 seen in May 2021 (Figure 1).

Chapter 11 filings were up 26.01% from April and 21.50% from the same month last year (Figure 1). Furthermore, Chapter 11, Subchapter V filings totaled 122, revealing a 22% increase from April 2022 and a 6.09% increase from May 2021 (Figure 1).

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Over the past two years, we’ve been watching the activity of Chapter 7 and Chapter 13 filings closely. Chapter 7 filings totaled 18,746 revealing a 6.27% decrease from April 2022 and a 27.81% decrease from May 2021 (Figure 4). Chapter 13 filings totaled 12,187, showing no change from April 2022 and a 43.94% increase from May 2021 (Figure 4).

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For the month of May 2022, Chapter 11 filings totaled 374, resulting in a 26.35% increase from April 2022 and a 21.82% rise from May 2021 (Figure 7). Chapter 11, Subchapter V filings totaled 122, marking a 22% increase from April 2022 and a 6.09% rise from the same month last year (Figure 7).

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The highest percentage of bankruptcies for May 2022 came from the South (East) (28%), followed by North Central (East) (20%), South (West) (16%), Northeast (12%), Pacific (12%), North Central (West) (6%), and Mountain (6%) regions of the country (Figure 10).

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To download the May Insight Report, click here.