February bankruptcies drop 20%

Only one business went bankrupt last month, the lowest number since this recession began. That is good news for just about everybody but the company and its creditors.Here is some more good news: Total bankruptcies went down by about 20 percent compared to February of last year, and this is the third straight month filings have declined compared to the previous year. There were still 403 people who filed personal bankruptcies, and that was actually about 50 more than in January. And last month’s filings still represent the second highest February in 13 years. The general trend, however, is in the right direction.In terms of businesses, there were four filings in January, the same as December, and nine in November.The only business that went under February was:• Pelletier Logging and Land Clearing LLC, Loudon, filed Feb. 18, Chapter 7. Assets: $0 to $50,000. Liabilities: $100,000 to $500,000.– BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

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