Sugar Land Personal Bankruptcies Down 14% in 2008, Chapter 11 Bankruptcies Up 300%
Bucking a trend in the national economy, the number of personal bankruptcies filed by Sugar Land residents decreased 14% in 2008, as compared to 2007. 132 people with Sugar Land addresses filed Chapter 7 or Chapter 13 bankruptcy in 2008. 154 filed in 2007 (as reported in the the WestLaw database).
Circuit City - Going Out of Business
Chapter 11 bankruptcies, which are usually filed by businesses, were up in Sugar Land for 2008, although the number of Chapter 11 bankruptcies filed listing Sugar Land addresses is very small. In 2007, only one Chapter 11 bankruptcy was filed in which the debtor listed a Sugar Land address. In 2008, there were 4 Chapter 11 bankruptcies with Sugar Land debtors. These include the recent Chapter 11 filing by the Bill Heard dealership.
The figures above do not include the bankruptcy of Circuit City, which is in Chapter 11, and is closing all of its stores, including the one in Sugar Land.
Nationwide, personal bankruptcies increased 33% in 2008, as compared to 2007.