More than 640 businesses filed for chapter 11 bankruptcy protection in July, up 52% from a year earlier
The number of businesses seeking chapter 11 protection rose 52% in July from a year earlier as the coronavirus pandemic roiled the economy and upended businesses from coast to coast.
Personal bankruptcy filings were also up, according to legal-services firm Epiq Systems Inc. The upward trend in bankruptcy filings in the U.S. is expected to continue in the coming months as government-funded assistance programs, intended to soften the blow from the coronavirus pandemic, come to an end.
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