WASHINGTON (Reuters) – Total bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs offset at least temporarily the economic damage from the coronavirus pandemic and a related recession, Epiq AACER reported on Friday.
The firm’s compilation of bankruptcy cases showed the Chapter 11 filings used by large corporations jumped 29% in 2020 to 7,128, compared to 5,158 in 2019. But overall filings for the year were 529,068, compared to nearly 800,000 for 2019.
(Reporting by Howard Schneider; Editing by Chizu Nomiyama)
