Current Bankruptcy Rates

October 22, 2008 at 6:20 pm Leave a comment

Given the economic stumbles of the past few weeks, I wondered what the business bankruptcy rates are currently.   Well, I couldn’t find an up to the minute count of filings for the US, but I did develop what I’ll call the BPM or Bankruptcy Page Metric.   Just counting the number of pages of Chapter 11 filings in the US Bankruptcy Court, District of Delaware gives you a rough economic indicator:

Pages of Filings in: 

  • January, 2008 — 3 pages
  • February, 2008 — 3 pages
  • March, 2008 — 3 pages
  • April, 2008 — 2 pages
  • May, 2008 — 10 pages
  • June, 2008 — 8 pages
  • July, 2008 — 10 pages
  • August, 2008 — 16 pages

Hmmmmm.   What to do?     

Jason Busch over at SpendMatters recently outlined a number of recommended steps to identify at-risk suppliers along with this warning:  “If you’ve not invested in a system that looks at your entire base, there’s a better than even chance you’ll be dealing with a supplier bankruptcy in the coming months.” 

Given the rapid ramp of bankruptcies, you probably can’t implement a monitoring system fast enough, and, of course, Vendormate would be glad to talk to you about financial, legal, and compliance monitoring options.

Entry filed under: risk management, vendor management.

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