207 U.S Companies Bankrupt in 2009
Finance February 15th, 2010
The number of corporate bankruptcies in the United States reached 207 last year, led by the bankruptcy filing of General Motors.
A research company, BankruptcyData.com, Thursday (7 / 1), said the number of filing for bankruptcy protection in 2009, public companies jumped significantly from 138 the previous year. It is the third largest number in the notes that only defeated the number in 2001 and 2002 with respectively 263 and 220 for filing.
The companies filed for creditor protection with combined assets of U.S. $ 594 billion, the second largest on record. The largest in 2008, led by the biggest bankruptcy filing ever in the U.S. from investment giant Lehman Brothers.
Largest bankruptcy in 2009 was General Motors, with registered assets of U.S. $ 91 billion, followed by a business lender CIT Group, with U.S. $ 80.5 billion, and Chrysler LLC to U.S. $ 39.3 billion. The main industries affected by the bankruptcy, including manufacturing, banking and finance, and oil and gas sector.
A total of 26 banks and finance companies have filed for bankruptcy with combined assets of U.S. $ 249 billion.
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