According to the latest AIS Insight Report, April bankruptcy filings totaled to 40,888. Although we observed a slight decrease from the previous month, this marks a 6% increase from total filings in the same month last year (Figure 1 & 2).  This is the largest year-over-year rise in total monthly filings since June 2010 and the first year-over-year increase since February 2020.

In addition, we observed a 12% increase in Chapter 7 bankruptcies and a 1.6% decrease in Chapter 13 bankruptcies when compared to the same month in the previous year (Figure 3 & 4).

Figure 1 

Figure 2

Our analysis of Chapter 7 and Chapter 13 bankruptcies reveals that numbers are continuing to climb to traditional averages. Overall, we saw year-over-year decreases. However, we also observed large month-over-month increases (Figure 3-5).

Figure 3 

Figure 4 

Figure 5

For the Month of April 2021, Chapter 11 filings totaled 348 (Figure 6). When compared to March 2021, we observed a 23% decrease (Figure 6). Furthermore, when comparing Chapter 11s to April 2020, we observed a 34% decrease (Figures 6 & 7). Chapter 11, Subchapter V bankruptcies also witnessed a decrease in filings totaling 141 (Figure 6). This reveals a 26% decrease as compared to last month (Figure 6 & 8). However, Subchapter V bankruptcies are up 127% as compared to April 2020 (Figure 6 & 8).

Figure 6

Figure 7

Figure 8

The highest percentage of bankruptcies for April 2021 came from the South (East) (26%) followed by North Central (East) (21%), Pacific (15%), South (West) (13%), Northeast (12%), Mountain (7%) and North Central (West) (6%) regions of the country (Figure 9).

Figure 9

Overall, data continues to confirm that 2021 continues to be an unusual year. A 21 year analysis shows major trend deviation. We will continue to provide timely information and data as it is available. 

Figure 10

To download the full April Insight Report, click here.