Bottom line. U.S. business bankruptcies reached 26,941 in the year to June 30, 2026, up 17%. Four states filed almost half of them: Texas, California, Florida and New York. Texas grew 54% and files more Chapter 11 cases than any other state, as it did last year. New Jersey grew 45%, New York fell 3%, and Delaware, the big-company court, fell by more than half.
1The twenty states with the most business filings
| # | State | Business filings, year to Jun 2026 | Chapter 7 | Chapter 11 | Year to Jun 2025 | Change |
|---|---|---|---|---|---|---|
| 1 | Texas | 4,823 | 1,949 | 2,753 | 3,122 | +54% |
| 2 | California | 3,392 | 2,482 | 724 | 3,013 | +13% |
| 3 | Florida | 2,637 | 1,504 | 955 | 2,143 | +23% |
| 4 | New York | 2,061 | 1,023 | 889 | 2,133 | (3%) |
| 5 | Georgia | 1,076 | 646 | 374 | 1,004 | +7% |
| 6 | New Jersey | 1,011 | 305 | 668 | 697 | +45% |
| 7 | Illinois | 918 | 628 | 223 | 912 | +1% |
| 8 | Pennsylvania | 631 | 367 | 214 | 627 | +1% |
| 9 | Colorado | 578 | 400 | 155 | 472 | +22% |
| 10 | Delaware | 565 | 159 | 331 | 1,291 | (56%) |
| 11 | Ohio | 551 | 418 | 75 | 446 | +24% |
| 12 | North Carolina | 492 | 267 | 157 | 378 | +30% |
| 13 | Washington | 449 | 272 | 148 | 329 | +36% |
| 14 | Tennessee | 446 | 254 | 166 | 445 | 0% |
| 15 | Louisiana | 438 | 146 | 261 | 233 | +88% |
| 16 | Arizona | 423 | 280 | 128 | 454 | (7%) |
| 17 | Maryland | 400 | 237 | 104 | 336 | +19% |
| 18 | Massachusetts | 395 | 266 | 107 | 285 | +39% |
| 19 | Virginia | 386 | 274 | 92 | 388 | (1%) |
| 20 | Nevada | 351 | 252 | 95 | 290 | +21% |
| United States | 26,941 | 15,298 | 9,766 | 23,043 | +17% |
Source 1. State totals add the court's district rows (for example Texas is its four districts). The business count is the court's "predominant nature of debt" classification. Chapter 7 is a liquidation; Chapter 11 is a reorganization or a sale.
2What the ranking means for a buyer
| Pattern | Where | What it means |
|---|---|---|
| Chapter 11 heavy | Texas (57% of its business filings), New Jersey (66%), Delaware (59%), Louisiana (60%) | More businesses trying to sell or reorganize rather than close. More deals with something to buy. |
| Chapter 7 heavy | California (73%), Ohio (76%) | Liquidations. Equipment and leases, not going concerns. |
| Fast growth | Louisiana +88%, Texas +54%, New Jersey +45%, Massachusetts +39%, Washington +36% | Where the next year's deal flow is building. |
| Falling | Delaware (56%), Arizona (7%), New York (3%) | Our read on Delaware: large filers moved to Texas and New Jersey courts, whose Chapter 11 counts rose. The table counts cases, not the reason. |
3Where our coverage stands
| State | Rank | Business filings | DHI coverage |
|---|---|---|---|
| New York | 4 | 2,061 | Filings read daily |
| New Jersey | 6 | 1,011 | Filings read daily |
| Pennsylvania | 8 | 631 | Filings read daily |
| Delaware | 10 | 565 | Filings read daily |
| Washington | 13 | 449 | Filings read daily |
| California | 2 | 3,392 | Filings read daily |
| Texas, Florida, Georgia, Illinois | 1, 3, 5, 7 | 9,454 | Next: together, 35% of all U.S. business filings |
The six live states hold 8,109 business filings a year, 30% of the country. Adding Texas, Florida, Georgia and Illinois takes coverage to 65%.
Sources
- Administrative Office of the U.S. Courts, Table F-2, Business and Nonbusiness Cases Commenced by Chapter: 12 months ending June 30, 2026 and 12 months ending June 30, 2025; national totals in Bankruptcies rise 12.2 percent (July 28, 2026). The 12.2% in that headline is all filings; business filings alone rose 17%.
Percent changes and chapter shares are DHI Capital's arithmetic from the two tables. "Filings read daily" means our system reads those courts' public feeds every day; it does not guarantee every filing is caught. Not investment advice.
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