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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Calif. Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlyy doubled in March 2009 fromMarc 2008, Equifax noted. "Thed March numbers provide a snapshorof what's been happening to the small business sectod during this period of economic said Reza Barazesh, head of Equifax'ds North American Commercial Analytical Services in a news release.
"Not surprisingly, the highestr number of small-business bankruptciesw are in those parts of the countrty where home prices havedecreasee dramatically, unemployment has increased significantly, and credit has become For the analysis, Equifax analyzed both Chapter 7 and Chapter 13 filings. Chapter 7 is a liquidation proceedingv in which a debtor receives a discharge ofall debts, whilw Chapter 13 is a reorganization bankruptcy enabling filerx to pay off debt over a set period of Equifax reviewed and analyzed small business data for March, the most recentf month for which completd data is available.
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