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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Calif. Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearly doubled in March 2009 fromMarchn 2008, Equifax noted. "The March numbers provide a snapshotgof what's been happening to the small business sector during this period of economixc turmoil," said Reza head of Equifax's North American Commercial Analytical Servicess Group, in a news release.
"Not the highest number of small-businesss bankruptcies are in those partsa of the country where home pricesw havedecreased dramatically, unemployment has increased and credit has become For the analysis, Equifax analyzed both Chapter 7 and Chaptere 13 filings. Chapter 7 is a liquidation proceeding in which a debtor receivexs a discharge of all while Chapter 13 is a reorganizatiojn bankruptcy enabling filers to pay off debt over a set periorof years. Equifax reviewed and analyzeds small business datafor March, the most recentg month for which complete data is available.
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