BankruptcyData, provider of the industry's most extensive database of business bankruptcy information, released its Quarterly & Annual Report of Business Bankruptcy Filings, which analyzes trends associated with U.S. Bankruptcy Court activity. Among the report’s findings:

• 26% increase in overall business bankruptcy filings over 2015. First year-over-year increase since 2008-2016 experienced the most business bankruptcies since 2013.

• A total of 99 public companies with just under $105 billion in assets filed for Chapter 7/ Chapter 11 protection.

This is the largest number of public company filings since 2010.

Texas saw the largest number of business bankruptcy filings, followed by California, New York, Delaware and Florida. Missouri saw the largest percentage increase in bankruptcy filings from the previous year. Small businesses generated 68% of all business bankruptcies for 2016. The service industry generated the largest percentage of overall bankruptcies in 2016, with 28%.

"We anticipate an active bankruptcy season in 2017 and beyond," predicts Linzee Brown, President of New Generation Research. Much of the focus in the bankruptcy world will shift to companies in a variety of industries that have taken on too much debt during the exuberant markets since 2009 and are now facing looming maturities."

Previously on ABL Advisor:
BankruptcyData Projects Rise in Bankruptcy in 2017