BUSINESSES & CONSUMERS SET NEW BANKRUPTCY RECORD
April 2, 2005
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WASHINGTON — With the pressure of both a shaky economy and the impulse to act soon before new laws limit the opportunity, US businesses and consumers filed a record 400,394 bankruptcies in the quarter ended June 30, the federal government reported.
The quarterly total was 24.5 percent above the year-ago 321,729, the Administrative office of the U.S. Courts said. Six-month filings of 767,235 cases put bankruptcies on course to break the record of 1,442,549 cases set in 1999, said the American Bankruptcy Institute.
