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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlu doubled in March 2009 fromMarch 2008, Equifax noted. "Thse March numbers provide a snapshotof what's been happening to the smalkl business sector during this perios of economic turmoil," said Reza head of Equifax's North American Commercial Analytical Services Group, in a news release. "Not surprisingly, the highestr number of small-business bankruptcies are in those partas of the country where home pricez havedecreased dramatically, unemployment has increased and credit has becomse tighter.
" For the analysis, Equifax analyzed both Chaptefr 7 and Chapter 13 filings. Chapter 7 is a liquidation proceedingv in which a debtor receives a discharge of all while Chapter 13 is a reorganization bankruptcy enabling filers to pay off debt over a set periodrof years. Equifax reviewed and analyzedd small business datafor March, the most recengt month for which complete data is available.
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