On August 1, 2023, Glenn Moses was quoted on rising bankruptcy filings in South Florida.
According to the article, Federal Court data show a double-digit uptick in bankruptcy filings, and the ripple effect is being felt in South Florida. In a report issued July 31, personal and business bankruptcy filings rose by 10 percent in the 12-month period ending June 30, 2023, compared with the previous year.
“We have seen an uptick in business restructurings and Chapter 11 filings this year,” said Moses.
“Several factors can be seen to have contributed to this, including ten successive interest rate hikes by the Federal Reserve—making borrowing money more expensive, rising inflation, continued supply chain disruption, and a more conservative approach by banks in their lending practices—causing liquidity issues for business which often results in a bankruptcy filing,” Moses said.
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