More than 7,200 of Maryland’s businesses have filed for bankruptcy this year, according to the latest data from the American Bankruptcy Institute (ABI), which covers the months of January through July.

Of those businesses 73% (5,274) filed for Chapter 7 relief (liquidation) and 26% (1,906) filed for Chapter 13 relief (payment reorganization).

Maryland ranks 42nd among states with the greatest year-to-year increase in bankruptcy filings.

Maryland Retailers Association President Cailey Locklair called the bankruptcy numbers “startling.”

“We need elected officials to intervene,” she said. “Providing some type of subsidy would help as this will continue to worsen with increases in costs to operate and less revenue coming in. I’m afraid some companies are being crushed as they try to dig themselves out of a hole they didn’t create.”

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