IARN — Economic hardships persist in rural America, and farm bankruptcies continue to increase year-over-year.
Newly released data from U.S. Courts indicates year-to-year farm bankruptcies increased 23-percent. John Newton, chief economist at the American Farm Bureau Federation, say the new figures rival “what we have seen in the past.”
“When we look at the last 12 months, we had nearly 630 Chapter 12 bankruptcy filings. That’s up 23-percent from the same 12-month period, ending in March 2019. This is prior to all of the damage related to the coronavirus,” Newton said. Read more