RESOURCE CENTER

Bankruptcy Filings Increase at Slower Pace

March saw a noticeable slowdown in the frantic pace of bankruptcy filings. Total bankruptcy filings in March increased by 4.88 percent compared to the same month in 2023. This rise is modest when juxtaposed with the 22.32 percent year-over-year surge in February, and the 17.6 percent overall increase observed throughout the previous year. 

Intrigued by this shift, our team dug into the data and wondered, could the difference be related to the calendar? Perhaps. After all, there were two fewer working days this March compared to last year. Counting March’s average daily filings for two additional days would yield a year-over-year bump of 11.65 percent, which aligns more with the recent trends. This nuanced analysis not only sheds light on the monthly fluctuation in bankruptcy filings but also underscores the importance of considering all variables to understand the broader economic landscape.

Our monthly report now includes filing projections produced by the Department of Justice, as well as 2023 filing trends compared to pre-pandemic averages.

AIS warrants that it employs all reasonable endeavours to ensure that the supplied statistical reports are substantially complete and free of errors or defects. The user acknowledges that all information contained herein is derived from public record data and from time to time, errors may occur. InSight is a proprietary analytical report produced monthly by AIS. The supplied information will not be disclosed, recompiled, sold or traded, in whole or in part, to third parties unless prior written consent is obtained. AIS assumes no responsibility or liability for any decisions made as a result of using this report.