California leads nation in commercial bankruptcies in 2009

09:30, April 02, 2010      

Email | Print | Subscribe | Comments | Forum 

Commercial bankruptcies in the United States have registered a 52 percent increase in 2009 over the previous year, with California leading the way in the number of filings, a report released by Equifax Thursday said.

Nationwide, total commercial bankruptcies rose from 77,638 in 2008 to 117,659 in 2009, which is evident that the number has kept increasing when the United States posted an all-time low of 32,293 filings in 2006, according to the report.

California remains the most negatively affected state with seven metropolitan statistical areas among the 15 areas with the most commercial bankruptcy filings during fourth quarter, down from eight at the end of third quarter. Los Angeles, Riverside/San Bernardino and Sacramento Metropolitan areas, all in California, continued to lead the nation in filings as they did at the end of both the second and third quarters last year.

"Commercial bankruptcy filings continue at record levels," said Dr. Reza Barazesh head of North American research for Equifax's Commercial Information Solutions division. "The slowing of the rate of increase does not diminish the effects of filings continuing at such high levels. And, the shifts in those areas with the most filings show that no part of the country is immune to the lingering effects of the recession."

However, viewing the data on a quarterly or month-over-month basis shows that while the total numbers continue very high, the rate of increase is slowing. For example, fourth quarter 2009 filings of 28,352 were not that much ahead of fourth quarter 2008' s 25,140 filings.

Aside from California, other areas have also been hit hard by bankruptcies in the fourth quarter. These areas include: Denver, Colorado; Portland, Oregon; Seattle, Washington; New York and Houston, Texas.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Members of civil organizations who oppose laws that allow voluntary abortion, participate in a protest in front of the Supreme Court in Mexico City, capital of Mexico, on Sept. 26, 2011. The Supreme Court began on Monday a debate on a constitutional reform in the states of Baja California and San Luis Potosi, which establish the beginning of the right to life during conception, contradicting the federal constitution. (Xinhua/Claudio Cruz)
  • Actors perform during the opening ceremony of the China Today Art Week in Malmo, Sweden, Sept. 26, 2011. (Xinhua/Liu Yinan)
  • ATP top 1 and UNICEF National Ambassador for Serbia Novak Djokovic plays with children at kindergarten "Brownie" in Smederevo, central Serbia, on Sept. 26, 2011. The kindergarten is specialized for children with disabilities and refugees. Djokovic was appointed as a UNICEF National Ambassador for Serbia last August. (Xinhua/Vladimir Gogic)
  • Photo taken on Sept. 26, 2011 shows the Shundang Caifeng Bridge in Yunlong County of Dali Bai Autonomous Prefecture, southwest China's Yunnan Province. The Shundang Caifeng bridge, a wooden cantilever bridge of almost 400 years, is still used for transportation and tourism. Across the rivers of Dali Bai Autonomous Prefecture stand many bridges with antique flavour, attracting a lot of tourists. (Xinhua/Chen Haining)
  • Photo taken on Sept. 26, 2011 shows the exterior view of the Mali Hospital in Bamako, Mali. The Mali Hospital, built with Chinese aid, officially opened on Monday. (Xinhua/Wang Zizheng)
  • Participants have a group photo taken at the World Media Summit Presidium Meeting in Beijing, capital of China, Sept. 27, 2011. Leaders or representatives of 11 world mainstream media attended the meeting opening on Tuesday. (Xinhua/Li Tao)
Hot Forum Discussion