Business bankruptcies in St. Louis plunged nearly 60 percent in the second quarter compared with the same period a year ago, according to a new report.
There were 48 business bankruptcy filings in the second quarter of 2011, down from the second quarter peak of 112 in 2010, according to the report from accounting firm Hoffman Clark. The filings were down nearly 16 percent from the first quarter of 2011.
The number of second quarter filings was the lowest for that period since 2007, the year before the recession fully took hold. There were 35 St. Louis business bankruptcy filings in the second quarter that year.