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Business Bankruptcies Soar in Delaware

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    Business Chapter 11 bankruptcy filings declined nationally last year but increased in Wilmington, Del, which was home to five of the 10 largest filings in the country.

    Wilmington had 807 filings last year, well above 2012 (640) and 2011 (536) and on par with 2010 (815), when the economy was still in the heart of the recession. It also represented the highest number of Chapter 11 business filing of any district in the country, with the Central District of California (502 filings) and the Southern District of New York (401) the next closest.

    Delaware’s gain in bankruptcy filings is contrary to 2013 national data, where there were 7,660 Chapter 11 business filings — by far the fewest since 2007 (5,736) and well below 2012 (8,900) and 2011 (9,772).

    It also appears the size of filings has fallen. Read more about this story on PBJ.com.

    For more breaking business news go to PBJ.com