What the Finance

Thousands of US Businesses Go Bankrupt

The number of US businesses bankruptcy filings has risen as much as 49% in April compared to a year earlier. According to statistical data that was compiled by Jupiter eSources LLC, the business bankruptcy filings soared to 5,713 during April. The total number of bankruptcy filings, including those filed by individuals amounted to a total of 93,096, the Oklahoma-based group said.

And just to spice up the news a bit…

• The economy has lost a total of 260,000 jobs since the beginning of 2008.

• Banks have foreclosed nearly 650,000 properties in the last quarter of 2007.

• Analysts estimate bankruptcy filings will reach a total of 1.1 million by the end of 2008.

What the Finance

Blogged with the Flock Browser