U.S. Chapter 11 bankruptcy filings 2023, by state
In 2023, Texas was the state with the highest number of Chapter 11 bankruptcy filings, totaling 1,438. Overwhelmingly, it was businesses that filed for Chapter 11 bankruptcy, accounting for 1,417 of the total bankruptcies in Texas during this period.
Chapter 11 bankruptcy is where the debtor negotiates with their creditors to alter the terms of their repayments. While the terms of the loans are changed, the outstanding debt still needs to be repaid.
