Portland area No. 6 in U.S. for bankruptcies: Report
Portland Business Journal
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The Portland area ranked No. 6 in the country in the fourth quarter for commercial bankruptcy filings, according to a new report. The rest of the state ranked No. 12.
Commercial bankruptcies in the U.S. increased by almost 52 percent from 2008 through 2009, according to a report released Thursday by Equifax Inc.
Atlanta-based Equifax (NYSE: EFX) said total commercial bankruptcies rose from 77,638 in 2008 to 117,659 in 2009, and the numbers reflect a consistent increase from the all-time low of 32,293 filings in 2006. Equifax said it analyzed Chapter 7, 11 and 13 filings for its analysis.
The top areas for commercial bankruptcy filings were topped by three from California, including Los Angeles, Riverside/San Bernardino, Sacramento, followed by: Denver-Aurora, Colo.; San Diego-Carlsbad-San Marcos, Calif.; Portland-Vancouver, Wash.-Beaverton; Houston-Sugar Land-Baytown, Texas; Santa Ana-Anaheim-Irvine, Calif.; the rest of California; Dallas-Plano-Irving, Texas; Charlotte-Gastonia-Cocord, N.C.; the rest of Oregon; Chicago-Naperville-Joliet, Ill.; Phoenix-Mesa-Scottsdale, Ariz. and Seattle-Bellevue-Everett.
“Commercial bankruptcy filings continue at record levels,” said Reza Barazesh, head of North American research for Equifax’s commercial information solutions division, in a statement.
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