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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearly doubled in Marc 2009 fromMarch 2008, Equifax noted. "The March numberd provide a snapshotof what'se been happening to the small business sector duringh this period of economic turmoil," said Reza head of Equifax's North American Commercial Analytical Services in a news release. "Not surprisingly, the highes t number of small-business bankruptcies are in those partz of the country wheres home prices havedecreased dramatically, unemployment has increasedx significantly, and credit has becomee tighter.
" For the analysis, Equifax analyzed both Chapterf 7 and Chapter 13 filings. Chapter 7 is a liquidationh proceeding in which a debtort receives a discharge ofall debts, whiler Chapter 13 is a reorganizatiobn bankruptcy enabling filers to pay off debt over a set periosd of years. Equifax reviewed and analyzed smalkl business datafor March, the most recent monthn for which complete data is available.
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