Business Bankruptcies on Decline
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ST. LOUIS (AP) — Business bankruptcies are down sharply in the St. Louis area.
St. Louis fell by 43 percent in the first quarter of 2011 compared to the same period in 2010. That is according to a report released Wednesday by the accounting firm Hoffman Clark.
There were 52 business bankruptcy cases filed January through March, compared to 91 in the first quarter of 2010, possibly an indication that the recession’s financial stress has worked through the system. The Post-Dispatch says the number of filings was the lowest since the third quarter of 2007, shortly before the recession began.
The highest number of filings occurred in the second quarter of 2010, with 112.
Copyright 2011 The Associated Press