Business

Big Island Bankruptcies Continue Downward Trend

November 1, 2012, 1:59 PM HST
* Updated November 1, 2:25 PM
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Bankruptcy filings by Hawaii businesses and residents across the state and here on the Big Island dropped for the 20th straight month when compared with totals from the same month of the previous year.

According to data released today by the U.S. Bankruptcy Court, there were 230 cases filed last month, down 11.5% from 260 cases filed the same month last year.

In June of this year the Court reported 185 bankruptcies statewide, down 33% from 276 filings in June 2011.

Overall, bankruptcy filings have decreased since averaging 330 a month during the recent peak in 2010.

Bankruptcies in Hawaii County continue to trend downward when compared to 2011 levels. Last month there were 31 bankruptcy cases filed on the Big Island, down 13.9% from 36 cases in October 2011.

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However, the 31 filings reported in October were an increase from the preceding two months. In September, there were just 18 bankruptcy filings on the Big Island, the lowest amount for a single month this year, while August saw 26 filings island wide.

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While the number of bankruptcy filings fluctuate monthly, overall they remain lower than 2011 levels.

For instance, in July the Court reported that there were 28 bankruptcies filed in Hawaii County for the month of June, down 6.7% from 30 filings in June 2011.

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