Business Bankruptcies Fall in February as Consumer Woes Persist

Data provider Epiq Systems Inc. reported that 5,973 companies filed for bankruptcy in February, marking a 2.8 percent decline compared with January filings, Dow Jones Daily Bankruptcy Review reported today. Against those declines, overall bankruptcy filings grew by 6.9 percent during February to 109,178 filings, according to data released Monday. "Some folks and businesses are just now running out of gas," said John Penn of Haynes and Boone LLP. "There's only so long you can [extend and pretend] until there's nothing left." Epiq's data showed that chapter 11 filings slowed to 984 during Februrary, down from 1,049 filings in January.