The Polsinelli|TrBk Distress Indices

Chapter 11 Filings Increase Rapidly in the Fourth Quarter of 2023; The Healthcare Index reaches its highest point ever.

Polsinelli|TrBK Indices

The Chapter 11 Distress Research Index was 73.32 for the fourth quarter of 2023. The Chapter 11 Index increased over 15 points since the last quarter. Compared with the same period one year ago, the Index has increased over 38 points and compared with the benchmark period of the fourth quarter of 2010, it is down over 26 points.

The Real Estate Distress Research Index was 36.66 for the fourth quarter of 2023. The Real Estate Index increased over 5 points since the last quarter. Compared with the same period one year ago, the Index is over 15 points higher and compared with the benchmark period of the fourth quarter of 2010, it is down over 63 points.

The Health Care Services Distress Research Index was 711.67 for the fourth quarter of 2023. The Health Care Index increased over 61 points since the last quarter. Compared with the same period one year ago, the Index has increased over 586 points and compared with the benchmark period of the fourth quarter of 2010, it is up 611 points. This is the highest the Health Care Index has registered since the Indices started tracking the data 13 years ago beating the previous high from last two quarters.

On a trailing four-quarter average, the percentage of real estate filings among all index-measured Chapter 11 filings decreased from 10.89% to 9.99% this quarter. The percentage of health care filings has decreased from 12.79% to 10.97%.

Polsinelli|TrBK Distress Indices released the 3rd Quarter 2023 Report on October 13, 2023. The indices use filtered Chapter 11 filings as a proxy for distress in the overall U.S. economy and certain sub-sectors. A summary of the data for the third quarter of 2023 is shown below.