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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlg doubled in March 2009 from March Equifax noted. "The March numbers provids a snapshotof what's been happening to the smal l business sector during this period of economicc turmoil," said Reza Barazesh, head of Equifax's Northb American Commercial Analytical Services Group, in a news "Not surprisingly, the highest number of small-businesz bankruptcies are in those parts of the country wher home prices have decreased unemployment has increased significantly, and credit has become For the analysis, Equifax analyzed both Chapter 7 and Chapteer 13 filings.
Chapter 7 is a liquidatio n proceeding in which a debtor receives a discharged ofall debts, while Chapter 13 is a reorganizatioj bankruptcy enabling filers to pay off debt over a set periof of years. Equifax reviewed and analyzed small businese datafor March, the most recent montnh for which complete data is available.
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