Date Book

St. Louis business bankruptcy filings hit recession high in second

Missouri Lawyers Media, Jul 21, 2010 by MLM Staff

Second quarter St. Louis business bankruptcy filings climbed to their highest number since the beginning of the recession, according to a report by Hoffman Clark Certified Public Accountants and Consultants.

The Hoffman Clark St. Louis Business Bankruptcy Trends Report shows that St. Louis business bankruptcy filings for the 2nd quarter of 2010 increased 20.9 percent, compared to filings in the 1st quarter. The 2nd quarter business bankruptcy filings totaled 110, an increase of 19 filings as compared to the 1st quarter. This is the greatest amount of bankruptcy filings by businesses in St. Louis over the course of the recession the past two years, according to the Hoffman Clark press release.

On an annual basis, St. Louis business bankruptcy filings for the 12-month period ending June 30 increased 13.5 percent, compared to same prior year time period. St. Louis business bankruptcy filings for the 12-month period ending June 30 totaled 412, compared to 363 business bankruptcy cases filed in the 12-month period ending June 30, 2009, an increase of 49 filings
mlm business