Bankruptcy Statistics
Weekly Bankruptcy Filings | ||
January 4-10, 2021 | ||
Case Type | Filings | Percent Change from Same Week Last Year |
Total | 6,054 | -50.6% |
Ch. 7 | 3,962 | -39.5% |
Ch. 11 | 71 | -46.2% |
Ch. 13 | 2,012 | -63.9% |
Other* | 9 | -30.8% |
*Ch. 9, 12,15 | ||
Weekly filing data compiled from PACER and is subject to slight revisions.
For exclusive analysis and insight by ABI's Ed Flynn on the weekly filings, please click here.
For past reports, please click here.
Member Analysis
- A New Challenge for Debtors Who Received PPP Loans Under the CARES Act
Can lenders refuse to forgive PPP loans when small businesses have filed for bankruptcy?
- Update on the Proposed Extension of the PPP Loan Program - Gotta Read That Fine Print!
On October 1, 2020, Senators Rubio and Collins reintroduced a different version of the Initial Proposed PPP III Legislation, S. 4773 (the “Amended PPP III Legislation”).
- Proposed Extension of the PPP Loan Program: A Nice First Step….
Whether Congress extends the PPP Loan Program is up in the air, but questions remain about whether the proposed legislation is the right approach.
- This DIP Loan Brought to You by Someone Who CARES - Part Two 1/2
Let’s be candid: $659 billion just doesn’t go as far as it used to. In just two short weeks, the entire $349 billion allocation for small business loans under the landmark CARES Act Payroll Protection Program (PPP), part of the single-largest government stimulus package in history, was completely exhausted by the onslaught of distressed businesses (the “PPP I Loans”).
- $659 Billion Disbursed Without Underwriting, Collateral or Guarantees: What Could Possibly Go Wrong?
The already notorious Paycheck Protection Program (PPP)is part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). $349 billion of PPP funding became available on Friday, April 3, and less than two weeks later all $349 billion was disbursed or committed to being disbursed. Congress then passed legislation adding $310 billion of PPP funding.
- This DIP Loan Brought to You by Someone Who CARES - Part II.
As PPP "Part II" loans are anticipated to be exhausted in 72 hours by small businesses struggling during the financial distress of the COVID-19 pandemic, will there be a "Part III, IV and V" on the horizon for the program? Read Stinson LLP's Tom Salerno provides his take in "This DIP Loan Should Be Brought to You by Someone Who CARES," Part Two.
- Title: 8 Predictions of the Coronavirus' Impact on the Bankruptcy World
Thomas J. Salerno of Stinson, LLP (Phoenix) and G. Neil Elsey of Avion Holdings, LLC (Scottsdale, Ariz.). proffer eight predictions as to how COVID-19 will alter the restructuring landscape in both the near term (and possibly longer).
- COVID-19: Rethinking Chapter 11 Bankruptcy Valuation Issues in the Crisis
Written by: Wilmer Hale
ABI members: Benjamin Loveland, George Shuster, Jr. - This DIP Loan Brought To You By Someone Who CARES!
According to a special ABI commentary by Thomas J. Salerno, Gerald Weidner, Christopher Simpson and Susan Ebner of Stinson, there could be another substantial implication of the CARES Act for the brave new bankruptcy world: a new potential source of DIP financing.
ABI Charts
Year-over-Year Change in Seated Diners from Online, Phone or Walk-in Reservations
Annual U.S. Total Bankruptcy Filings, 1980-2020

Bankruptcy Filing Trends (Percent Change from Same Week in 2019) Since March 1

Continued Unemployment Claims Decreased Slightly Last Week, Still at Elevated Levels
U.S. Retail Sales Decreased 1.1% in November
Mortgage Equity Withdrawal Increased in Q3 2020
National Home Equity Distribution by LTV Segment, Q2 2020 vs. Q3 2020
Holiday Season Retail Hiring Since 1979
Subchapter V Elections in Delaware, Feb. 19-Oct. 31

Consumer Spending Increased Slightly in October
Total Percentage of Retail Rents Paid Since the Pandemic Began

Cumulative Bankruptcy Cases Filed the Biggest PPP Loan Recipients

Continued Unemployment Claims Decrease Below 6.5 Million
Total Household Debt Increased in Q3 2020
Retail Sales Increased Slightly in October
Chapter 15 Filings from 2005-Present

Overall Mortgage Delinquencies Decrease in 3Q 2020; 90-Day Delinquency Segment Increased Sharply Due to Loans in Forbearance
Gross Weekly Movie Sales for 2020 Compared to Max and Min for 2016-19
Permanent Job Losses as Percent of the Pre-Recession Peak in Employment
Continued Unemployment Claims Decreased in Latest Week, but Remain at Elevated Levels
Total Weekly Forbearance Requests Decreased Slightly from Previous Week
Status of Loans That Have Left COVID-19 Related Forbearance Plans
Initial Weekly Unemployment Claims Continue to Decline
Rental Vacancy Rate Increased in Q3 2020
Rent Payment Tracker Since May 2019
Number of Homeowners in COVID-19-Related Forbearance Plans Declined Slightly in Latest Week
Initial Weekly Unemployment Claims Decreased in Latest Report
2020 Total Chapter 11 Cases on Pace to Be Nearly 25 Percent Higher Than Last Year

U.S. Retail Sales Edged Up in September
Continued Unemployment Claims Decrease in Latest Week, But Remain Above 10 Million
Share of Mortgage Loans in Forbearance Continues to Decline
Gross Weekly Movie Sales, Max & Min for 2016-19 vs. 2020
September Commercial Chapter 11 Filings from 2011-20

Mall Vacancy Rate Climbs to Highest Level in Nearly 20 Years
Retail Sales by Sector, Change from a Year Earlier

Mortgage Delinquency Rate Down from July; Remains Elevated
Number of Unemployed for Over 26 Weeks Continues to Increase
Continued Weekly Unemployment Claims Drop Under 12 Million
Cumulative Number of Retail Bankruptcies in 2020

Share of Mortgage Loans in Forbearance Declines in Latest Week
Serious Delinquency Rate on Single Family Mortgages Increased in August; Highest Since January 2013
New Home Sales increased to 1,011,000 Annual Rate in August
Weekly Initial Unemployment Claims Increased Slightly to 870,000
Share of Mortgage Loans in Forbearance Declines in Latest Week
Mortgage Equity Withdrawal Increased in Q2
Hotel Occupancy Rate Declined 30 Percent Year-over-Year
Continuing Unemployment Claims Drop Under 13 Million
Initial Weekly Unemployment Claims Decrease Slightly from Previous Week
Retail Sales Increased in August
August Industrial Production Rebounds Slightly, Still Below Pre-Pandemic Levels
Number of Homeowners in COVID-19-Related Forbearance Plans Decreased in Latest Week
Continued Unemployment Claims Remain Elevated
Initial Weekly Regular Unemployment Claims and PUA Unemployment Claims since Feb. 1
Mortgage Delinquencies Drop Slightly in July from June
Latest Weekly Unemployment Figures Show Sharp Rise in Pandemic Unemployment Assistance
Continued Unemployment Claims Since 1967
Construction Spending Since 1993
Rent-Collection Rate from Retail Tenants Since March

Year-over-Year Change in Seated Restaurant Reservations
Recent Initial Weekly Unemployment Claims Reported at More than 1 Million
Serious Delinquency Rate on Single-Family Home Mortgages Increased in July
Weekly Rent Payment Tracker

Hotel Occupancy Rate by Week of Year
Nearly 3.9 Million Homeowners Remain in Active Forbearance as of August 18
Initial Unemployment Claims Increase from Previous Week
Mortgage Delinquencies Spike in the Second Quarter of 2020
Retail Sales up 1.2 Percent over June
Initial Regular and PUA Unemployment Claims Since Feb. 1
Contribution to Change in Debt Balances by Loan Type Since January

Largest Cash Flow Declines from Q1 2019 - Q1 2020 Were in Two High-Leverage Industries

Chapter 12 Farm Bankruptcies for the Last 12 Months

Survey of How Small Businesses Are Supporting Their Operations During the Pandemic

Housing Starts Increased in June
Number of Homeowners in COVID-19-Related Forbearance Plans Decline

Annual Growth in Retail Sales Since July 2017

Initial Regular Weekly Employment Claims and Pandemic Unemployment Assistance
Big Banks Prepare Greater Provisions for Loan Losses in 2Q 2020

Percent of Mortgage Servicing Portfolio Volume in Forbearance by Investor Type Since March 8
Monthly Bankruptcy Cases Filed under SBRA

Mall Vacancy Rate Since 1980
Continued Unemployment Claims Decrease Slightly to 18.1 Million
Job Openings and Labor Turnover Survey Through May
More Than 4.5 Million Homeowners in Forbearance Plans

Initial Weekly Unemployment Claims Decrease Slightly to 1,427,000 in Latest Report
Total Outstanding Leveraged Loans Since 1999

Single Family Mortgage Delinquency Rate Increased in May
Continued Unemployment Claims Remain Elevated, Decrease to 19.5 Million
TSA Checkpoint Travel Numbers for 2020 and 2019
Percent of Mortgage Servicing Portfolio Volume in Forbearance by Investor Since March 8
National Mortgage Delinquency Rate Increased Sharply in May, Highest Rate since 2011

Initial Regular and PUA Unemployment Claims Since February
Initial Weekly Unemployment Claims Since 1971
May Retail Sales Increased Nearly 18 Percent
Hotel Occupancy Rate by Week of Year
Percent of Mortgage Servicing Portfolio Volume in Forbearance
Construction Spending Decreased in April
Weekly Initial Unemployment Claims Top 2 Million in Recent Report
Existing Home Sales Plunge in April
Continuing Unemployment Claims Increase to More Than 25 Million
Hotel Occupancy Rate by Week of the Year
Industrial Production Decreased 11 Percent in April
U.S. Retail Sales Decline 16.4 Percent in April
Continued Unemployment Claims Reach Nearly 23 Million
Mortgage Delinquencies Increased in 1Q 2020
Year-over-Year Change in Employment Since 1968
Continued Unemployment Claims at Nearly 23 Million
Total Bankruptcy Filings for April, 2010-2020

Possible Scenarios for the Number of Forbearance Plans
Personal Spending Started Decline in March
After More Than 3.8 Million Claims Submitted Last Week, Unemployment Eclipses 30 Million Since Mid-March

TSA Checkpoint Travel Numbers, 2019 vs. 2020
ABI Chart of the Day via @Black_KnightInc: More Than 3.4 Million Homeowners Have Entered into COVID-19 Mortgage Forbearance Plans

Continued Unemployment Claims Since 1967
States with the Largest Unemployment Funding Declines from February through Mid-April

Hotel Occupancy Rate by Week of the Year
Initial Weekly Unemployment Claims Since 1971
Global Fiscal Response to COVID-19 as a Share of GDP

Thomas J. Salerno
Stinson LLP (Phoenix, AZ)It is time for the federal government to stop asserting positions that only harm the very constituency that the CARES Act was intended to assist, create burdens on an already stressed court system, and create additional fees, costs and delays for borrowers in bankruptcy.
Stephen Lerner
Squire Patton Boggs (Cincinnati, OH)The impact on U.S. business is already severe. The bankruptcy and restructuring landscape is likely to be altered in ways that may not be easy to predict.
Christopher A. Ward
Polsinelli (Wilmington, DE)Although a bankruptcy filing may keep the doors open, the cost of a bankruptcy can be overwhelming when you may have been able to address the situation through an alternative pay arrangement with your landlord.
COVID-19 Legal Information
- Summary of the Proposed HEALS Act by ABI's Legislation Committee
- Preliminary Injunction, Hildago County Emergency Service Foundation v Carranza, SBA Administrator (USBC ND Tex., May 8, 2020)
- TRO Against SBA Administrator (KP Engineering; USBC, SD Tex., May 6, 2020)
- Motion for TRO; PCT International v. SBA Administrator (USBC; D. AZ)
- The Springfield Hospital TRO against SBA Administrator and Memorandum of Decision (April 20, 2020; USBC, D. Vermont)
- Penobscot Valley Hospital v. Carranza (In re Penobscot Valley Hospital), Adv. No. 20-AP-1005 (Bankr. D. Me.)
About COVID-19
What is a novel coronavirus?
A novel coronavirus is a new coronavirus that has not been previously identified. The virus causing coronavirus disease 2019 (COVID-19) is not the same as the coronaviruses that commonly circulate among humans and cause mild illness, like the common cold.
How can I help protect myself?
Visit the CDC's COVID-19 Prevention and Treatment page to learn about how to protect yourself from respiratory illnesses, like COVID-19.
How can I prepare for COVID-19 at work?
Plan for potential changes at your workplace. Talk to your employer about their emergency operations plan, including sick-leave policies and telework options.
Learn how businesses and employers can plan for and respond to COVID-19 at the CDC.