U.S. Company Bankruptcies May Surge from 8-year Low

Published on:
12 September 2006 at 10:20 a.m. ET

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http://www.insidearm.com/news/00002623-us-company-bankruptcies-may-surge-from-8-/

By Jonathan Stempel, Reuters

Bankruptcy filings by publicly traded U.S. companies fell in 2005 to an eight-year low, but may surge higher this year because companies took on too much debt, a bankruptcy specialist said on Wednesday.

Eighty-six companies, including Delta Air Lines Inc., Northwest Airlines Corp. and grocer Winn-Dixie Stores Inc., sought Chapter 11 protection from creditors in 2005, BankruptcyData.com of Boston said.

That’s down from 92 in 2004 and represented the fourth consecutive yearly decline.

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