Bankruptcy filings by companies in El Paso, Texas, increased 32.5 percent at an annual rate in the first quarter of this 2023.
According to a report prepared by the Hunt Institute of the University of Texas at El Paso (UTEP), from January to March 318 bankruptcy cases were received against the 240 in the same period of 2022.
“Total bankruptcy filings in El Paso increased by 78 cases from January to March 2023 year-over-year, the largest increase in the Western District of Texas,” the agency said.
He highlighted that San Antonio was located below El Paso, with an increase of 24 cases, which is equivalent to 7.3 percent more. In that city, bankruptcies went from 330 to 354 from one year to the next.
In March 2023 alone, businesses in El Paso that filed for bankruptcy totaled 130 cases, which represents an increase of 37 filings against a year earlier, an increase of 39.8 percent.
At a monthly rate, there was an increase in the number of bankruptcies of 40 cases, which is equivalent to 44.4 percent compared to February.
In the El Paso region, that past month saw the largest annual increase in the Western District of Texas so far in 2023, up 47.5 percent compared to February 2022.
the exceptions
In the Western District of Texas, Midland and Austin were the only regions that had a year-over-year decline in bankruptcy filings in the January-March 2023 period.
In Midland, cases jumped from 41 to 40, an annual drop of 2.4 percent.
Meanwhile, in Austin the requests for February of last year totaled 212 cases, one more than the same period of this 2023, which meant a drop of 0.5 percent.
