With more than three months remaining in 2008, the number of corporate bankruptcies filed nationwide so far this year has exceeded the total number of corporate public Chapter 11 and Chapter 7 bankruptcy filings seen in all of 2007, according to Boston-based New Generation Research Inc. (NGR).
The total count for last year reached 78 public bankruptcies, and this year has already seen 81 such filings.
Bankruptcy research and historic perspective indicate that despite this recent up-turn, the filing count still remains historically low. In terms of the number of public companies filing a Chapter 11 or Chapter 7 petition with the U.S. Bankruptcy Court, data reveals consistent reduction since 2001’s high of 263, NGR said.