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Article: Silicon Valley defying uptrend in bankruptcies.(Knight Ridder Newspapers)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- August 30, 2001
- Author:
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN JOSE, Calif. _ Amid waves of layoffs, corporate down-sizings and business closures, many may assume Bay Area bankruptcy courts _ and their judges, attorneys and clerks _ are swimming in new cases. Drowning in them, even.
That deluge may be on its way, but it hasn't hit yet.
Bankruptcy filings nationwide by both businesses and individuals were up 8.6 percent in the 12-month period that ended June 30. If bankruptcies continue to increase at this pace, the year ahead will surpass the record-breaking year of 1998, when 1,429,451 new cases were logged, according to the American Bankruptcy Institute.
But that's not the scenario here in the Bay ...