Business-related bankruptcies down in New Mexico

Posted at: 02/07/2013 10:33 AM
By: The Associated Press

ALBUQUERQUE, N.M. (AP) - Business bankruptcies in New Mexico are down as the state continues to recover from the Great Recession.

A federal court report says there were 182 business-related petitions filed in U.S. Bankruptcy Court in New Mexico in 2012. That's the lowest number of petitions filed in the state since 2007 and down from 203 in 2011. The recent high was 302 petitions filed in 2009.

According to the Albuquerque Journal  many of the petitions cited in the report are filed by individuals who are small business owners.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)