News About Bankruptcy - August 27, 2011

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In this issue: Small Business Bankruptcies Down; and Nebraska Book Co Bankruptcy Plan Approved.

Excerpt from 'Small Business Bankruptcies Down':

According to credit rating agency Equifax, the number of bankruptcies among small businesses has fallen by 15% in the first quarter of this year although the numbers are still higher than before the recession. These numbers comprise of the bankruptcies in the metro areas. Compared to the first quarter of 2008 (just before the recession), the number this year is higher by 30%. ‘Small business’ according to Equifax’s definition is a company with less than 100 employees.

Reza Barazesh, who is the senior vice president of Equifax Commercial Information Solutions cautioned, “Our latest analysis shows that while business failures may be on the decline, conflicting trends are still making us question if the worst is behind us.”

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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