For another month, NH bankruptcy filings remain at near-record low levels
But will inflation pressures put an end to trend?
Bankruptcy filings in New Hampshire appear to have plateaued during the summer after falling to record lows during the pandemic. The question is whether this is a temporary pause, or whether they will start climbing again.
The summer brought high inflation, particularly when it comes to the price of necessities that could drive people over the edge. On the other hand, the unemployment rate remains at a record low 2 percent, and wages are going up (by 4.2 percent in July), though not as much as inflation (7.3 percent in July).
There were some 62 bankruptcy filings in August – nine more than in July, 10 more than June and two fewer than were filed in August 2021.
The state is still on track for a record low year. Year-to-date, filings are averaging 53 a month. Last year, the average was 61. To put it in perspective, there were some 447 bankruptcy filings in August 2009 in the midst of the Great Recession. The average monthly filing that year was 427.
While there were no business filings in June or July, there was one in August:
- Animetrics Inc., Conway, filed Aug. 2, Chapter 7. Assets: $780,982. Liabilities: $222,119.