New Hampshire bankruptcies rise slightly but remain in historically low territory
54 individuals, businesses sought protection in October
Fifty-four New Hampshire individuals and businesses filed for bankruptcy protection in October, six more than the record-low 48 that filed in September.
Despite the slight monthly uptick, the number of filings for the month was 18 percent lower than the 66 filed in October 2020 and far fewer than the 466 filed in 2009, in the middle of the last recession.
You would have to go back to 1986 to find an October with fewer filings (51). Filings have now stayed below 100 – and often well below 100 – for 19 straight months. For 30 years before that, they were above 100 each month.
Everybody expected bankruptcies to rise during the pandemic, but instead their number dropped by over 40 percent compared to 2019, when they averaged 88. This year, they are averaging 63.
However, the number of business filings did increase. Six personal filings included business-related debt, compared to three in September. And three businesses did file directly, compared to two in September. However, two are affiliates (and its owner filed personally with business-related debt as well). They were:
- EyeCor Construction LLC, Concord, filed Oct. 7, Chapter 7. Assets: $689,680. Liabilities: $11,205,673.
- Corbell Development LLC, Concord, filed Oct. 7, Chapter 7. Assets: $18,027. Liabilities: $6,424,049.
- Krypton Home Services LLC, Milford, filed Oct. 13, Chapter 7. Assets: $336 Liabilities: $59,067.