NHBR Article

’09 N.H. bankruptcies end with record-setting December

Tuesday, January 5, 2010

Download Podcast

More people filed for bankruptcy protection in New Hampshire last month than in any other December on record, pushing the total number of bankruptcies filed in 2009 past 5,000.

Some 410 bankruptcies were filed in December -- a winter surge that was 10 percent higher than the number filed in the relatively mild November and 47 percent more than December 2008, and nearly twice the number of filings two Decembers ago.

The nationwide financial collapse at the end of 2008 translated into the collapse of 5,128 New Hampshire households and small businesses last year -- an increase of about a third. That’s more annual bankruptcies than any other year, except 2005, when there was a rush of filings before Congress made it more difficult for individuals to seek a bankruptcy court’s protection.

In nine out of 12 months in 2009, bankruptcy filings climbed above 400. In previous years, no other month crossed that threshold since the change in the law.

Of the December total, seven businesses filed for bankruptcy protection:

• Hooksett Development LLC, dba Granite Heights, Hooksett, filed Dec. 3, Chapter 7. Claims: $2 million.
• Coastal Marble & Granite LLC, Farmington, filed Dec. 4, Chapter 11, assets and liabilities: between $100,000 and $500,000.
• Gallo Investments LLC, Hooksett, filed Dec. 7, Chapter 7, Assets: $300,000. Liabilities $364,000.
• 337 Amherst Street LLC, Manchester, filed Dec. 9. Chapter 11. Assets and Liabilities: Between $1 million and $10 million.
• SMM 2007 Realty Trust, Gilford, filed Dec. 16, Chapter 7. Claims: $270,000
• Lavorgna Roofing & Restoration, Danbury, filed Dec. 18, Chapter 7. Assets: $0. Liabilities: $73,122.
• Cabral Rejuvenations, dba Visage Skin Care & Day Spa, Nottingham, filed Dec. 29, Chapter 7. Assets: $28,555. Liabilities $116,380. – BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW
More people filed for bankruptcy protection in New Hampshire last month than in any other December on record, pushing the total number of bankruptcies filed in 2009 past 5,000. -- NHBR

Reader Comments

Search the NHBR Business Directory

Two ways to search > Choose one from below:

Enter Name or Type of business:
Enter Location (City & state, or zip code):

Banking / Finance

View our featured, enhanced business directory listings, by NH region:

Dartmouth/Lake Sunapee	Monadnock Region
Great North Woods	Seacoast
Lakes Region	White Mountains
Merrimack Valley