California leads U.S. states in small business bankruptcy in Q1 2010

California led U.S. states in small business bankruptcy in the first quarter of 2010, with Los Angeles, Riverside and Sacramento metro areas bearing the brunt of the trend, a report said on Thursday.

According to the report released by Equifax analyzing national bankruptcy trends by metropolitan statistical areas(MSA), Los Angeles-Long Beach-Glendale has seen the number of its bankrupt small businesses rising from 899 to 1035, a 15.13-percent increase from the last quarter, taking the lead among the nation's top 15 MSA's.

It was followed by Riverside-San Bernardino-Ontario, 11.01 percent, and Sacramento-Arden-Arcade-Roseville with 12.99 percent.

Ranking in fifth, San Diego-Carlsbad-San Marcos saw an in crease of 12.17 percent.

Los Angeles, Riverside, Sacramento and San Diego metro areas are all located in California.

"This trend is striking as it reveals that small businesses in all regions continue to experience the impact of today's economic conditions," said Dr. Reza Barazesh, a senior vice president at Equifax Commercial Information Solutions.

Equifax is a leading provider of information and innovative solutions for businesses and consumers.

Source:Xinhua