According to the American Bankruptcy Institute (ABI), citing data provided by Epiq Systems, total U.S. commercial bankruptcy filings increased 21% in October 2016 over October of last year.

Commercial filings totaled 3,023 in October 2016, up from the October 2015 total of 2,491. October is the 12th consecutive month with a year-over-year increase in commercial filings. However, total commercial Chapter 11 filings decreased in October 2016, as the 401 filings were 7% less than the 431 commercial Chapter 11 filings registered in October 2015.

The total bankruptcy filings of 63,042 in October 2016 represented a 10% decrease from the October 2015 total of 70,254. Consumer filings also decreased as the 60,019 filings in October 2016 were down 11% from the October 2015 consumer filing total of 67,763.

“Struggling businesses continue to turn to the financial shield of bankruptcy,” said ABI Executive Director Samuel J. Gerdano. “With financial distress continuing in energy and retail, 2016 business bankruptcies have already surpassed the total registered last year.”

Total filings for October decreased 2% compared to the 64,614 total filings in September 2016. Total noncommercial filings for October also represented a 2% decrease from the September 2016 noncommercial filing total of 61,503. October’s commercial filing total represented a 3% decrease from the September 2016 commercial filing total of 3,111. However, commercial Chapter 11 filings were up 10% from the 364 filings recorded in September 2016.

The average nationwide per capita bankruptcy-filing rate in October was 2.53 (total filings per 1,000 population), a slight decline from the 2.54 rate for the first nine months of the year. Average total filings per day in October 2016 were 2,101, a 10% decrease from the 2,342 total daily filings in October 2015.