NH’s 2017 ended with slight annual increase in bankruptcies
Total number of filings rose by 1%, first increase since 2010
Hate to start the new year on a sour note, but bankruptcies in New Hampshire rose, both in December and for all of 2017, for the first time since the recession.
Some 142 households and businesses filed for bankruptcy in December 2017 – 24 more than December 2016, albeit three fewer than November.
That brings the total number of bankruptcies in 2017 to 1,822 filings, which is 21 more than in 2016. That’s an average of about two more filings per month, a 1 percent increase.
Still, the last time the number of bankruptcies increased was in 2010, when it rose by 7.5 percent, to more than 5,500. After that, New Hampshire saw double-digit declines, until 2016, when it fell by 9 percent.
The questions now are: Is this a temporary hiccup before there’s another decline in 2018? Have they plateaued, and this is the new normal? Or are they on their way up again, indicating a new economic downturn?
As in November, there were five business failures and three were by individuals that filed due to business-related debt.
That means two New Hampshire business entities filed for bankruptcy in December. They are:
• Monadnock Brewing Company. Inc., Keene, filed Dec. 7, Chapter 11. Assets: Less than $50,000. Liabilities: Between $500,000 and $1 million.
• Onsite Fleet Services of New Hampshire Inc., Concord, filed Dec. 26, Chapter 7. Assets: $17,000. Liabilities: $370,825.