Total New Hampshire bankruptcies fall in September
But business-related filings rise compared to August
Eleven New Hampshire businesses filed for bankruptcy in September, three more than the previous month.
But the good news: After an alarming uptick in August, bankruptcy filings by individuals slowed in September
Some 131 individuals and businesses filed for protection in September, 29 fewer than August and 28 fewer than in September 2016 – more than an 18 percent annual decrease. It was the second lowest total this year, and the lowest of any September since 1989.
Nevertheless, there have still been an average of 154 filings a month year so far this year, three more than the monthly average last year. In 2016, personal bankruptcy filings year-to-date decreased by 9 percent, ending a five-year trend of a double-digit decline in filings since the end of the recession. If this trend holds until January, it will be the first time bankruptcies have gone up since 2010.
Five business failures resulted in five individuals who filed due to business-related debt, compared to two in August. There also was an involuntary petition, filed against a business that has not yet responded.
That leaves five businesses entities that filed for bankruptcy protection. None had debts exceeding $500,000:
• Sweet Pizza LLC, Salem, filed Sept. 1, Chapter 7. Assets: $17,654. Liabilities: $54,492.
• Soho Technology Corp., Portsmouth, filed Sept. 7, Chapter 7. Assets: Less than $50,000. Liabilities: $50,000-$100,000.
• McPhail Roofing LLC, Windham, filed Sept. 13, Chapter 7. Assets: $10,050. Liabilities: $317,695.
• Moultonboro Hospitality LLC, Moultonboro, filed Sept. 21, Chapter 11. Assets: Less than $50,000. Liabilities: $100,000-$500,000.
• Budget Outfitters LLC, Portsmouth, filed Sept. 27, Chapter 7. Assets: Less than $50,000. Liabilities: $100,000-$500,000.