New Hampshire bankruptcy filings jump in August
18 percent annual increase recorded for month
Eight New Hampshire businesses filed for bankruptcy protection in August – twice as many that filed for bankruptcy in June and July combined.
August wasn’t a good month when it came to bankruptcy for individuals either. Some 160 New Hampshire households and businesses filed, 19 more than July and 26 more than August of 2016, a more than 18 percent annual increase. Indeed, there were three more filings in August 2017 than August 2014, when the state was still clawing its way of the recession, though still less than a third of the number filed in 2010, when New Hampshire was still stuck deep inside it.
Year-to-date, there have been an average of 157 filings per month, seven more than last year – a 4 percent increase. In 2016, personal bankruptcy filings year-to-date decreased by 9 percent, ending a five-year trend of double-digit declines in filings since the end of the recession.
If this trend holds for four more months, it will be the first time bankruptcies have increased since 2010.
Two business failures resulted in individuals who filed due to business-related debt.
That left six businesses entities that filed for bankruptcy, compared to one the month before:
• Stefanovouno LLC, Manchester, filed Aug. 16, Chapter 11. Assets: $100,000-$500,000. Liabilities: $1 million-$10 million
• B&H Development Corp., dba Winnipesaukee Hill Estates
aka Winnipesaukee Hill Estates Property Owners Association, Laconia, filed Aug. 23, Chapter 7. Assets: $22. Liabilities: $2,197,325
• Aviation Technology Inc., Hooksett, filed Aug. 24, Chapter 7. Assets: $30,980. Liabilities: $821,729
• ProCare Home Health and Senior Services LLC, Bedford, filed Aug. 29, Chapter 7. Assets: $20,150. Liabilities: $118,096
• S&S Delivery Service LLC, Concord, filed Aug. 29, Chapter 7. Assets: $36,098. Liabilities: $55,426
• Shogun Japanese Steak House LLC, Portsmouth, filed Aug, 29, Chapter 7. Assets: $2,975. Liabilities: $308,415.