Colorado bankruptcy filings climbed 19.4% in 2023 compared with the prior year, reflecting a year-long pattern of increases.
The state recorded 6,081 bankruptcy filings during the year, compared with 5,093 in 2022, according to a BizWest analysis of U.S. Bankruptcy Court data. Numbers cited include all new filings, including open, closed and dismissed cases.
Individual bankruptcy filings totaled 5,961, with 120 business filings in 2023, compared with 5,005 individual and 86 business filings in 2022.
December filings totaled 527 statewide, up 32% from 400 for the same period in 2022. Colorado recorded 496 filings in November 2023.
December filings increased in Boulder, Broomfield and Weld counties, with Larimer County remaining unchanged.
Boulder County recorded 22 bankruptcy filings in December, up 69% from 13 a year ago. Annual filings increased 44.25%, with 251 filings in 2023, up from 174. Boulder County recorded 17 filings in November.
Broomfield recorded eight bankruptcy filings in December, up from three in December 2022. Annual filings decreased 20%, with 60 filings, down from 75. The city and county of Broomfield recorded three filings in November.
Larimer County filings totaled 25 in December, the same as the prior year. The county recorded a 27% increase in annual filings, with 371 in 2023, up from 292 in 2022. Larimer County recorded 31 bankruptcy filings in November.
Weld County bankruptcy filings totaled 47 in December, up from 24 recorded a year ago, an increase of 96%. Annual filings increased 27%, to 518 from 408. Weld County recorded 42 bankruptcy filings in November 2023.
Boulder County’s December filings included:
• Uhl’s Beer LLC. The company filed for Chapter 7 bankruptcy liquidation on Dec. 12, listing assets of $119,954, and liabilities of $78,697.
• Pangea Organics Inc. The company filed for Chapter 11 bankruptcy reorganization on Dec. 18, listing assets of $486,851 and liabilities of almost $3.8 million.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2024 BizWest Media LLC. You can view the original here: Colorado bankruptcy filings climbed 19% in 2023
