BANKRUPTCY BOOM MAY BE TAPERING OFF
BOSTON — The bankruptcy boom of the late 1980s and early 1990s may be tapering off, according to the Turnaround Letter.
Published by New Generation Research Inc. in Boston, the letter's editors do not foresee any rapid decline and expect plenty of large public bankruptcies for years to come.
The assets of nonfinancial bankruptcies reached a high of almost $50 millon in 1991 when 120 companies went under. That figure dropped to about $40 million in 1992 with 84 companies declaring bankruptcies as of Dec. 15.
Some of the largest companies filing for bankruptcy in 1992 were Trans World Airlines, Olympia and York, and R. H. Macy.