Corporate bankruptcies rise, more on way

Corporate bankruptcies rise, more on way

The number of US businesses filing for bankruptcy has soared 42 percent from a year ago, according to the Administrative Office for US Courts.

Already this year, more public companies have filed for Chapter 11 and Chapter 7 bankruptcy than during all of 2007, according to BankruptcyData.com.

The credit crisis has also complicated things for struggling companies, by hurting their ability to refinance their debts or even gain financing to exit bankruptcy protection.

Auto parts maker Delphi Corp, for example, has been struggling to get financing to exit bankruptcy protection for most of the year.

For more details visit: BankruptcyData.com