
Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Author: Joel R. Glucksman
Date: October 1, 2013
Partner
201-896-7095 jglucksman@sh-law.comSome municipalities are faring better than others in the health and vitality of their businesses and consumer spending. A telling sign for the overall business health of improving cities is often the viability of the local economy. Along these lines, a new report reveals which U.S. cities are on their way to full recovery and which may be left behind.
Experian recently released its Metro Business Pulse, an analysis that ranks the top metropolitan statistical areas in four key business credit categories: Municipal bankruptcy rates, the number of days businesses pay their bills beyond contracted terms, delinquency rates, and commercial risk scores. According to the results, New York City had the lowest business bankruptcy rate at 0.28 percent, followed by Nassau, NY at 31 percent and Baton Rouge, LA at 34 percent.
By contrast, companies in Sacramento, CA filed the highest number of bankruptcies during the second quarter of 2013, with 2.41 percent petitioning for relief under Chapter 7 or Chapter 11 of the bankruptcy law. Bakersfield and Riverside, CA placed second and third on the list of bottom five metropolitan areas with high business bankruptcy figures at 2.16 and 1.90 percent, respectively.
The analysis also examined delinquency rates among different geographical locations, which may point to which cities are likely to see a high number of businesses seeking bankruptcy protection due to financial hardship. Businesses in Miami, FL had the highest delinquency rates in the country at 44.72 percent, followed by Fort Meyers and Orlando at 37.19 and 26.78 percent respectively. Businesses in Fort Lauderdale, FL placed fifth on the list, suggesting that many companies in the state may be struggling to meet their obligations and expenses.
Despite the results of the analysis, separate studies indicate that corporate bankruptcy filings have begun to subside as the economy slowly mends and lenders start to open up credit once again.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
Cashing a check marked “paid in full” can be a risky endeavor, particularly if you don’t fully understanding the legal implications. If you are owed more than the amount of the check you accept and deposit, you may waive your right to collect the full disputed amount. That is why you should consider either rejecting […]
Author: Dan Brecher
The One Big Beautiful Bill Act of 2025 (OBBBA) significantly impacts federal taxes, credits, and deductions. A key change relating to Qualified Small Business Stock (QSBS) allows greater tax-free gains for investments in startups and other qualifying small businesses. Company founders and other investors should understand how the enhanced tax strategy works or risk missing […]
Author: Dan Brecher
Corporate consolidation involves two or more businesses merging to become a single larger entity. The result is often a stronger and more competitive company that can better navigate today’s competitive marketplace. What Is Corporate Consolidation? Corporate consolidation closely resembles a basic merger transaction. The primary difference is that a consolidation creates an entirely new business […]
Author: Dan Brecher
Business law plays a critical role in nearly every aspect of running a successful enterprise, from negotiating a commercial lease to drafting employee policies to fulfilling corporate disclosure obligations. Understanding what is business law and your legal obligations can help your business run smoothly and build productive relationships with clients, business partners, regulators, and others. […]
Author: Dan Brecher
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!