Nearly 500 Small Businesses File Bankruptcy Using Increased Eligibility Limit Since February
New statistical table and analysis available on the American Banking Institute’s (ABI) SBRA Resources website show that 471 small businesses have elected to file for bankruptcy relief under new subchapter V to chapter 11 of the Code since it was enacted. The Small Business Reorganization Act of 2019 (SBRA) took effect on February 19, 2020, to provide a…