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Business Bankruptcies Increase 7 Percent in Second Quarter
The number of businesses that filed for bankruptcies during the first half of this year is up by 45 percent over last year, according to Inc.com.
Filings rose by 7 percent from the first of the year to 6,705 in the second quarter, says credit-insurance firm Euler Hermes ACI. Last year, changes to federal bankruptcy laws were responsible for a 50 percent decline in corporate insolvencies, but things are different this year. The firm predicts 30,000 businesses will declare bankruptcy by the end of 2007.
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