Colorado bankruptcies decline 30.9% in May

Colorado bankruptcy filings dropped 30.9% in May compared with the same period a year ago, continuing a pattern of declines seen throughout 2021 and thus far in 2022.

Filings also dropped in Boulder, Larimer and Weld counties compared with the year-ago period, with only Broomfield County recording a slight uptick.

That’s according to a BizWest analysis of U.S. Bankruptcy Court data. Numbers cited include all new filings, including open, closed and dismissed cases. Colorado recorded 446 bankruptcy filings in May, compared with 646 in May 2021.

Year to date, the state has recorded 1,960 bankruptcy filings, compared with 2,971 in the first five months of 2021, down 34%.

Among area counties:

Boulder County recorded 13 bankruptcy filings in May, compared with 14 in May 2021. The county recorded 68 filings year to date, down from 108 in the first five months of 2021, down 37%. Boulder County recorded 12 bankruptcy filings in April 2022.
Broomfield recorded nine bankruptcy filings in May, up from seven in May 2021. Year-to-date filings totaled 26, compared with 30 a year ago, down 13%. Broomfield recorded two bankruptcy filings in April 2022.
Larimer County filings totaled 27 in May, compared with 36 a year ago. Filings in the first five months of the year totaled 118, compared with 142 in the first five months of 2021, a drop of 16.9%. Larimer County recorded 28 bankruptcy filings in April 2022.
Weld County bankruptcy filings totaled 32 bankruptcy filings in May, down from 45 recorded a year ago. Year-to-date filings totaled 148, compared with 219 a year ago, down 32.4%. Weld County recorded 27 bankruptcy filings in April 2022.