As indicated by store closing signs at Rite Aid pharmacies across Pittsburgh, serving as a conspicuous reminder of the fallout from the still-growing ranks of retail business failures, commercial bankruptcy activity continued to edge up during the second quarter.
Businesses, particularly in the retail and health care sectors, chiefly driven by companies outside Pittsburgh that have operations in the region, keep numbers high. Rite Aid is shuttering more than 70 stores in the western Pennsylvania area. But other industry sectors are also feeling stress from inflation, tariff concerns and interest rates.
During the three months ended on June 30, there were 52 filings by businesses in U.S. Bankruptcy Court for the Western District of Pennsylvania, according to the website of the Administrative Office of U.S. Courts. Of these, 36 were Chapter 7 or liquidation, and 16 were Chapter 11 or reorganization.
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