N.H. bankruptcy totals continue downward trend



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Some major bankruptcies were filed by New Hampshire businesses in June. Isaacson Structural Steel Inc., which has been a mainstay of Berlin since the 1960s and employs more than 160, filed for Chapter 11 reorganization. MV Communications, one of the pioneer local Internet service providers in the state, filed Chapter 7 the following day.Jackson Energy, a Monadnock Region heating oil contractor that closed its doors in March, filed under Chapter 7 at the of JuneBut here is the statistical good news: The total number of bankruptcies continues to drop in New Hampshire, compared both to last month and last year.In June, there were 404 bankruptcy filings, down from 426 in May and 443 in June of 2010. Indeed, this was the best June since 2008, showing that recovery – if slow – is steady.As businesses, there were six filings (with Isaacson counting for two), half of last month’s dozen:• Frank's Affordable Dreams LLC, Amherst, filed June 2, Chapter 7. Assets: $128,990. Liabilities: $ 202,729.• Isaacson Steel Inc., Berlin, filed June 22, Chapter 11. Assets and liabilities: $1 million to $10 million• Isaacson Structural Steel Inc., Berlin, filed 22. Chapter 11, Assets and liabilities: $10 million to $50 million.• MV Communications Inc., Manchester, filed June 23, Chapter 7. Assets: $74,153. Liabilities: $1,202,826.• Advantage Motorsports LLC, dba A-1 Saw & Outdoor Power Equipment, Weare, filed June 28, Chapter 7. Assets: less than $50,000. Liabilities: $100,000 to $500,000.• Jackson Energy LLC, Jaffrey, filed June 30, Chapter 7. Assets: $84,559. Liabilities: $290,160. -- BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW Edit ModuleShow Tags