Puerto Rico bankruptcies rise 8.4% in first half of 2025, report shows
Puerto Rico recorded 3,011 bankruptcy filings during the first half of 2025, an 8.4% increase compared to the same period last year, according to the latest bulletin from Boletín de Puerto Rico.
In June alone, 509 cases were filed — a 19.5% jump from 426 cases in June 2024. The growth includes both personal and commercial bankruptcies, with marked increases in Chapter 7 and Chapter 13 filings.
Chapter 13 cases totaled 1,923, or 63.9% of all filings, reflecting a 4.7% rise over the same period last year. Chapter 7 filings climbed 16.6% to 1,052 cases, representing 34.9% of the total. Chapter 11 filings rose 13.8% to 33 cases, while Chapter 12 cases — focused on family farmers — dropped to only three, down 66.7%.
The municipalities with the highest volume of filings were San Juan (263), Ponce (168) and Carolina (161), each showing double-digit increases year-over-year. Increases outside the metro area were also pronounced, with Aguadilla up 37.1% and Guayama up 26.2%.
“Bankruptcy filings in the first half of 2025 reflect moderate growth compared to 2024. While there are signs of overall stabilization, sectors such as restaurants, real estate and health care services remain vulnerable,” Boletín de Puerto Rico officials said.
Business-related bankruptcies rose sharply, with 220 filings reported — a 28.7% increase from 2024. Restaurants led the commercial category with 17 cases, representing 18.9% of the total reported business debt. Other affected sectors included beauty salons, automotive repair, real estate and construction.
Total reported debt from all filings reached $350.2 million, down 2.4% from last year. This included $148.8 million in secured debt and $190.9 million in unsecured debt.
Among the largest business bankruptcies were Neolpharma Inc. ($20.1 million), Tetrad Enterprises LLC ($17.6 million) and Ambassador VETS Services PR, a nursing home, with $4.1 million.
Several municipalities posted sharp increases in commercial bankruptcies. San Juan filings rose 85.7%, Aguadilla 400%, Camuy 150% and Moca 100%. Gurabo, which had no business filings in 2024, reported six in 2025.
“The municipal analysis reveals that, outside the main cities, Aguadilla, Guayama, Camuy, Gurabo and Moca are recording notable increases in personal and commercial bankruptcies. This trend indicates a more widespread pattern of economic fragility across the island,” the bulletin stated.
