New bankruptcy filings across all major industries saw year-over-year increases for the third month in a row in March, with corporate bankruptcy filings reaching their highest first-quarter levels since 2010.
According to data from Epiq Bankruptcy, which provides U.S. bankruptcy court data, technology, and services, a total of 42,368 new bankruptcies were filed in March, up 17 percent from the 36,068 filings registered a year prior.
That marks the highest number of monthly filings since 40,931 bankruptcies were recorded in April 2021.
Year-over-year commercial bankruptcy filings were up 24 percent, to 2,305 last month compared to 1,854 in March 2022, while Chapter 11 filings (including Subchapter V) increased 79 percent, to 548 versus the 306 filings registered the previous year…