Bankruptcies in March 2023 totaled 389 filings, a decrease of -6.04% compared to March 2022.
Chapter 7 filings totaled 125, a decrease of -64.9%; Chapter 13 filings totaled 261, a decrease of -56.3%; Chapter 11 filings totaled 3, a decrease of -57.1%; and a total of 0 filings of Chapter 12.
Year-to-Date, January to February 2023, a total of 990 filings, a 2.8% increase compared to the same period previous year.
The five largest bankruptcy petitions filed by businesses and professional services include:
- Restaurants: with a total of 7 filings, a 13% increase compared to the previous year. An aggregate debt of $972 thousand.
- Pharmacies: a total of 3 pharmacies filed for bankruptcy, a 6% increase. Accumulated debt of $1.98 million.
- Construction Industry: with a total of 3 filings, a 6% increase compared to the same period of the previous year. An accumulated debt of $136 thousand.
The five applications for bankruptcy of companies and services with the highest debts.
- Dairy Farms: a total of 3 filings with $4.1 million in debt.
- Imaging Center: a total of 1 filings with $3.3 million in debt.
- Pharmacies: a total of 3 filings with $1.9 million in debt.
Business request totaled 75 filings, a 33.9% increase compared to the same period the previous year.
By municipality, Las Piedras had the largest increase in filings (100%), followed by Caguas at 68%.