According to BoletinPR, bankruptcies for the month of November 2022 totaled 306 filings, a 10.9% increase compared to November 2021. In context, while the 10.9% increase is a lot, the number of filings (306) is the second lowest since 2012. This means that for the month of November, bankruptcy filings have declined in 2021 and 2022.
Year-to-date (January to November) bankruptcies totaled 3,470 filings, a -2.7% decrease compared to the same period in 2021. This is the third consecutive year with a decline in bankruptcy filings.
When analyzed by Chapter Year-To-Date:
- Chapter 13: A total of 2,209 filings, a 6.6% increase compared to the same period in 2021.
- Chapter 7: A total of 1,205, a -17.0% decrease compared to the same period 2021.
- Chapter 11: A total of 47 filings, a 23.7% increase compared to the same period 2021.
- Chapter 12: A total of 9 filings, an 80% increase compared to the same period 2021.
Top five mayor requests sorted by business type:
Restaurants: a year to day filings of 17, a 12.69% increase with a reported debt of $3.74 million. Dairy Farms: a total of 7 year-to-date filings a 5.22% increase with a reported debt of $17.87 million. Agricultural (5 filings), Automotive (5 filings), and Lawyers (4), round up the top commercial filings of the year.