Triangle Business Journal Quotes Smith Anderson Attorney Jeb Jeutter on Lull in Bankruptcies
Triangle Business Journal recently quoted Smith Anderson attorney Jeb Jeutter in a story that forecasts 2021’s slowdown in bankruptcy filings will continue in 2022.
The Triangle saw a drop in bankruptcy filings in 2021 and Jeb, a bankruptcy attorney at Smith Anderson, said that “2022 is panning out the same.”
Jeb notes that government relief programs due to the Covid pandemic have kept some companies afloat.
“They’re just holding on,” Jeb said.
Jeb also said wage increases have been an issue for his business clients, particularly restaurants. Workers that have been with the same eatery for decades are leaving for restaurant chains that can afford to raise minimum wages.
“It’s the minority of businesses that can afford to pay $18, $19 an hour,” Jeb said.
TBJ notes that total bankruptcy filings in 2021 decreased by nearly a quarter compared to 2020, with commercial filings down by almost half in the Eastern District of North Carolina, the federal judicial region that includes Raleigh.
Subscribers to the Triangle Business Journal can read the full story here.
Triangle Business Journal (TBJ) is the leading source of business news and events covering all industries in Raleigh, Durham and Chapel Hill, North Carolina and the surrounding areas. The Business Journals report on local and national issues that impact businesses and are a division of the American City Business Journals (ACBJ), the largest publisher of metropolitan business newsweeklies in the United States.