2019 starts with sharp rise in New Hampshire bankruptcy filings
159 individuals and businesses filed for protection in January
Was it the government shutdown, the stock market dive, the trade war or just a bad month?
Whatever the reason, there was a 28 percent rise in the number of New Hampshire bankruptcy filings in January compared to last year, as well as a sharp increase in small business filings.
Some 159 Granite State individuals and businesses filed in January, 15 more than in December and 35 more than in December 2018. That’s the worst start of a year since 2014. Of course, it was still quite an improvement from January 2010 – in the heart of the recession – when there were exactly twice as many filings, 318.
Ten of those filings involved business-related debt, up from three in December. Two filed as individuals and one was an involuntary petition filed by a creditor. Another seven filed as businesses, compared to two in December.
Bankruptcy filings have remained stable in the last three years, since filings climbed in the aftermath of the recession and declined sharply for five years during the recession. Last year, there was a total of 1,746 bankruptcy filings – an average of 145.5 a month, a 4.2 percent decline from the 1,823 – 152 a month – filed in 2017.
Business filings were:
• Sanfred Realty LLC, Milford, filed Jan. 3, Chapter 11. Assets: $382,025. Liabilities: $473,000.
• TSBS LLC, dba Twin State Business Services and Accountax USA, West Lebanon, filed Jan. 14, Chapter 7. Assets: $99,061. Liabilities: $1,371 (most of the creditors listed with debt “unknown”).
• Skiffington Homes Inc., Davis Farm Subdivision of Moultonboro, Moultonborough, filed Jan. 16, Chapter 7. Assets: $870,600. Liabilities: $2,765,492.
• Small Steps Learning Center LLC, Pembroke, filed Jan. 25, Chapter 7. Assets and liabilities: $100,000 to $500,000.
• Auto Planet LLC, Dunbarton, filed Jan. 25, Chapter 7. Assets: Less than $50,000. Liabilities: $500,000 to $1 million.
• LGW Enterprises LLC, dba True Colors, Plymouth, filed Jan. 25, Chapter 7. Assets: $0. Liabilities: $52,513.
• Packard Logging and Chipping LLC, Lancaster, filed Jan. 30, Chapter 7. Assets: $18,810. Liabilities: $301,968.