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Portland area No. 6 in U.S. for bankruptcies: Report

Portland Business Journal

The Portland area ranked No. 6 in the country in the fourth quarter for commercial bankruptcy filings, according to a new report. The rest of the state ranked No. 12.

Commercial bankruptcies in the U.S. increased by almost 52 percent from 2008 through 2009, according to a report released Thursday by Equifax Inc.

Atlanta-based Equifax (NYSE: EFX) said total commercial bankruptcies rose from 77,638 in 2008 to 117,659 in 2009, and the numbers reflect a consistent increase from the all-time low of 32,293 filings in 2006. Equifax said it analyzed Chapter 7, 11 and 13 filings for its analysis.

The top areas for commercial bankruptcy filings were topped by three from California, including Los Angeles, Riverside/San Bernardino, Sacramento, followed by: Denver-Aurora, Colo.; San Diego-Carlsbad-San Marcos, Calif.; Portland-Vancouver, Wash.-Beaverton; Houston-Sugar Land-Baytown, Texas; Santa Ana-Anaheim-Irvine, Calif.; the rest of California; Dallas-Plano-Irving, Texas; Charlotte-Gastonia-Cocord, N.C.; the rest of Oregon; Chicago-Naperville-Joliet, Ill.; Phoenix-Mesa-Scottsdale, Ariz. and Seattle-Bellevue-Everett.

“Commercial bankruptcy filings continue at record levels,” said Reza Barazesh, head of North American research for Equifax’s commercial information solutions division, in a statement.

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  • Brian H. 1 day ago
    Keller is plainly a hack. You can always tell. It is called the "Democratic Party", Mr. Keller.
  • Ben T. 1 day ago
    1 person liked this.
    You can thank props 66 and 67 for this, not just the economy. Oregon Government has a broke mentality thanks to the many economically ignorant liberals in the state. Taxes will only get worse in the next two years because PERS (overpaid Oregon Government workers) is short about 1.5 Billion Dollars in its fund and guess who gets to make up for that? Not them. You'll see more commercial bankruptcies and more businesses either just closing their doors or moving out. If you don't have a job and need one you just might need to look outside of Oregon because it isn't going to improve any time soon.
  • texas D. 1 day ago
    1 person liked this.
    wow, this statistic is unsettling. It really sheds light on the worsening economic death spiral we're in, and the gov't isn't doing one thing to fix it. We need some fiscally responsible folks in office to bring about true economic change that will result in an improved lifestyle for everyone. Join the Resistance
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