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Number of “Chapter 22” filings jumps

Companies that file for bankruptcy don’t always emerge strong enough to withstand the rocky economy

An increasing number of companies are experiencing déjà vu when it comes to bankruptcy., which tracks bankruptcy filings, found that the number of companies filing for “Chapter 22”—meaning they’re filing for Chapter 11 a second time—has jumped in the first two months of 2012. Four of the 17 public companies that have filed for bankruptcy this year are repeat filers. A total of six companies filed for “Chapter 22” in 2011.

Ashley Post

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