The smallest number of Pittsburgh-area businesses since the century began filed for bankruptcy in 2022, setting a new record for the third straight year. The U.S. Bankruptcy Court for the Western District of Pennsylvania tallied 154 commercial bankruptcy filings last year. That was 15 less than in 2021, the prior record-holder of at least the past 22 years, with 169. That, in turn, was 20% below the previous low point of 212 in 2020. There were 46 business bankruptcy filings in the fourth quarter of 2022. Of those, 22 were Chapter 7, or liquidation, and 24 were Chapter 11, or reorganization. That compares with 43 during the final three months of 2021. The data came from the Administrative Office of the U.S. Courts. “I wish I had a crystal ball that could tell me what to prepare for in 2023,” said Kelly Neal , a shareholder in the bankruptcy and creditors’ rights group at Buchanan Ingersoll & Rooney PC. “Filings were still low in 2022. The same was true across the nation. While, on the one hand, this is a good sign for the economy in western Pennsylvania and nationally, it has left some people wondering where the financial […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
