Iowa bankruptcy filings dropped in 2012
Wednesday, January 02, 2013 12:04 PM
Bankruptcy filings by Iowa businesses dropped last year for the first time since the financial crisis hit in 2008, according to the final tally for the two U.S. bankruptcy courts for Iowa.
According to court records, 138 businesses filed to liquidate their assets or reorganize their finances last year, compared with 191 in 2011.
Business filings peaked at 221 in 2010. Businesses followed the overall trend in the state, with 3,893 individuals or businesses filing for bankruptcy protection from creditors last year, compared with 4,933 in 2011.
Filings reached their highest level in 2009, when 6,266 bankruptcy cases were filed. Polk County led the state with 1,259 filings last year, down from 1,507 in 2011 and a high of 2,032 in 2010.