Ch. 11 Filings Soar In August Amid Credit Crisis

Law360, New York (September 10, 2008, 12:00 AM EDT) -- With the credit crunch and mortgage crisis continuing to impact businesses nationwide, Chapter 11 filings have skyrocketed to a new high for the month of August.

Last month, Chapter 11 filings increased by 38 percent to 1,082 filings, up from 786 filings in July, according to an Automated Access to Court Electronic Records report.

The August numbers mark a significant departure from rates that have typically hovered in the range of 700 to 790 new filings per month throughout the past year.

Retailers, especially those in...
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