SCOTTSDALE, ARIZONA (November 16, 2020) – Resolute Index summarizes impact of COVID-19 on third quarter middle market bankruptcy, workout filings, unemployment figures and business interruption insurance claims
Middle market businesses in Arizona, Colorado and Nevada have been hit the hardest by COVID-19 in the nine-state Rocky Mountain West region, according to bankruptcy statistics outlined in the current Resolute Index prepared by Resolute Commercial Services.
The Resolute Index is a quarterly summary of noteworthy trends in bankruptcy filings and the overall business climate in the Rocky Mountain West region of the United States, which includes Washington, Oregon, Idaho, Montana, Wyoming, Nevada, Utah, Colorado and Arizona.
During the third quarter of 2020, Colorado accounted for 28%, Arizona for 22% and Nevada for 13% of all middle market business bankruptcies with at least $1 million in liabilities in the Rocky Mountain West. Businesses in the hospitality, real estate, and manufacturing industries have been the most impacted by bankruptcy. Companies with $10 million to $500 million in annual earnings are generally classified as middle market.