5 states with the most business bankruptcies in 2017

California generated the highest percentage of overall business bankruptcies in 2017, according to a BankruptcyData.com report.

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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