Main content

Bankruptcies Rise, But Stay Lower Than Pre-COVID

Published onMay 5, 2023

Bankruptcy filings rose slightly for the 12-month period ending March 31, 2023, but new bankruptcy cases remain sharply lower than before the start of the coronavirus (COVID-19) pandemic.

According to statistics released by the Administrative Office of the U.S. Courts, total filings rose 2.0 percent, to 403,273 new cases, compared with 395,373 cases in the previous year.

Business filings increased 9.9 percent, from 13,160 in March 2022 to 14,467 in the newest report. Non-business filings rose 1.7 percent, from 382,213 in March 2022 to 388,806 in March 2023.

This year’s 12-month filing total for the quarter ending March 31 is slightly more than half of the total reported in March 2020, when the pandemic disrupted the U.S. economy. That year’s 12-month total was 764,282.

Additional statistics released today include:

  • Business and non-business bankruptcy filings for the 12-month period ending March 31, 2023 (Table F-2, 12-month);
  • Bankruptcy data for the twelve-month periods ending in March 2022 and March 2023 (Table F);
  • Fourth quarter filings, (Table F-2, 3-month); and filings by month (Table F-2, January, February, and March)
  • Bankruptcy filings by county (Report F-5A).
Business and Non-Business Filings,
Years Ending
March 31, 2019-2023
Year Business Non-Business Total
2023 14,467 388,806  403,273
2022 13,160 382,213 395,373
2021 19,911 453,438 473,349
2020 23,114 741,168 764,282
2019 22,157 750,489 772,646
Total Bankruptcy Filings By Chapter,
Years Ending
March 31, 2019-2023
Year Chapter
  7 11 12 13
2023 231,200 5,371 148 166,449
2022 265,071 4,333 228 125,655
2021 345,224 7,832 487 119,502
2020 479,211 6,938 627 277,353
2019 477,106 6,891 509 288,039

For more on bankruptcy and its chapters, view the following resources:

Related Topics: Bankruptcy Filings