To embed, copy and paste the code into your website or blog: In 2020, commercial chapter 11 bankruptcy filings climbed to their highest levels in recent years, as COVID-19 disruption sparked sharp declines in GDP and volatile stock market swings. Notably, the pandemic accelerated the restructurings of some companies that were already on the precipice of financial distress, particularly in the retail, energy, travel and hospitality sectors. Year-on-year commercial chapter 11 filings increased 29% in 2020. The 7,128 filings in 2020 were the most since 2012, which saw 7,789 filings, according to data prepared by Epiq for the American Bankruptcy Institute. However, after a significant spike in the number of commercial chapter 11 filings in the second and third quarters of 2020, the pace of new chapter 11 filings slowed significantly toward the end of the year.