Two NH businesses file for bankruptcy
Lowest number of filings in 25 years
The number of New Hampshire bankruptcy filings in October reached a new low for the year and the decade.
Indeed, aside from the few months following the tightening of bankruptcy laws in the fall of 2005, the 135 filings recorded in the Granite State was the lowest number of filings of any month in 25 years. The last time there were 135 filings was in January 1990.
The number of filings represents was 30 lower than September, another record-low month, and a whopping 113 fewer (or 46 percent) compared to October 2015. If the filings continue to decline at this rate, there will be 21 percent fewer filings than last year, about equal to last year’s drop, which was the sharpest decline in 25 years, except for the 2005-2006 anomaly.
While this might be great news for the economy as a whole, it is small comfort for the households and business who couldn’t pay their bills..
There were two business bankruptcy filings in October, compared to four in September:
• M.J. Hayward Mechanical/Electrical Services Inc., West Lebanon, filed Oct. 21, Chapter 7. Assets: $186,651. Liabilities: $1,025,974.
• A&E Flooring Inc., Hooksett, filed Oct. 29, Chapter 7. Assets: $135,150. Liabilities: $1,775,988.83.