Newport firm closes amid alleged embezzlement
Relax & Co., which provided an array of services to property owners in the Lake Sunapee area, had already been forced to lay off workers earlier this month.
NH bankruptcies jump in March
64 filings are still 30 percent lower than a year ago
Bankruptcy filings shot up last month after repeated record lows, but it’s too early to tell whether they have bottomed out and a new trend is just beginning, or if it’s just a statistical fluke.
Some 64 individuals and businesses filed for bankruptcy in March, a 53 percent increase over the 42 that were filed in February, which was one shy of the modern record set in January. But the March total is still over 30 percent better than March of 2021, when there were 92 filings, so New Hampshire at this point is still on track for another record low year.
To put things in perspective, the most monthly filings in the Great Recession – 586 – were filed in March 2010. In fact, you would have to go back to 1987 to find any March with fewer filings (63).
There were four business-related filings in March, compared to one in January, but two were filed by individuals with business debt. The other two businesses filed directly. They were:
- Michelin’s Auto Body & Sales Inc., Manchester, filed March 17, Chapter 7. Assets: $0. Liabilities: $248,098.
- J&B Pizza LLC, dba Juliano’s Italian Pizzeria, Londonderry, filed March 18, Chapter 7. Assets: $0. Liabilities: $404,614.
