As the only service that tracks Schedule A/B (real and personal property) filings for all new business bankruptcies across the country, we decided to compile some statistics to give you a glimpse into prospective opportunities you may have missed in 2016 on our site, Inforuptcy.com.
In total, we tracked nearly 9,000 business bankruptcy filings in 2016. Over $38 trillion of business bankruptcy assets were reported in the filings. Here is the break down by chapter:
- Chapter 11 assets accounted for $37.7 trillion in nearly 4,600 cases
- Chapter 7 assets accounted for nearly $318 billion in nearly 4,300 cases
- Chapter 9 and 12 assets accounted for nearly $9 billion in nearly 100 cases.
The top three business bankruptcy filers by NAICS code in 2016 were:
- Mining, Quarrying, and Oil and Gas Extraction - Over $32 trillion in 656 cases
- Manufacturing - Nearly $1.3 trillion in 533 cases
- Transportation and Warehousing - Over $1 trillion in 345 cases
The top three of the asset categories in 2016 for all business bankruptcy filings were:
- About $31.3 trillion in "All other assets"
- Nearly $2.5 trillion in "Real property"
- Nearly $1.3 trillion in "Machinery, equipment, and vehicles"
The infographic below breaks down these categories further.