Here are the five states with the highest percentage of overall business bankruptcies last year.
1. California — 15.18 percent
2. Texas — 12.54 percent
3. New York — 9.77 percent
4. Florida — 8.05 percent
5. New Jersey — 4.40 percent
As in past years, small companies — those with less than $500,000 in sales — made up the majority of business bankruptcy filings in 2017.
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