Equifax: Small biz bankruptcies double in March - Washington Business Journal:

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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlyy doubled in March 2009 fromMarch 2008, Equifasx noted. "The March numbers provide a snapshot of what's been happening to the small business sectotr during this period of economic turmoil," said Reza Barazesh, head of Equifax'w North American Commercial Analyticall Services Group, in a news release.
"Not the highest number of small-business bankruptcies are in thosre parts of the countruy where home prices havedecreasee dramatically, unemployment has increased significantly, and credit has become For the analysis, Equifax analyzed both Chapterf 7 and Chapter 13 filings. Chapter 7 is a liquidatio n proceeding in which a debtor receives a discharg e ofall debts, while Chapter 13 is a reorganizatiohn bankruptcy enabling filers to pay off debt over a set perior of years. Equifax reviewed and analyzed small businessd datafor March, the most recent month for whicn complete data is available.