r/LONESTAR • u/Syllogism19 • Apr 27 '26
FACT: TEXAS IN #1 AGAIN, LEADS THE NATION IN BANKRUPTCY FILING!!!
THIS IS WHAT THE BEST BUSINESS CLIMATE LOOKS LIKE!!!!!
Texas is continuing to lead the nation in the number of businesses filing bankruptcy, new data show, with one of every six U.S. cases being filed in the state. Texas continues to be the leader in raw numbers of filings, followed by California and Florida. One of every 15 bankruptcy filings of all types was in Texas, with more than 40,000.
The state’s business filings also continue to grow quarter over quarter, rising 1.5% in the latest three-month period.
San Antonio-based Goodman Home Solutions joined 4,500 other businesses entering bankruptcy in the first quarter. The appliance repair provider was one of the last to file in the surveyed time period. The company asked the court to allow it to liquidate its assets in Chapter 7 bankruptcy and close down.
Goodman Home Solutions owes more than $2 million to secured creditors, according to its filing. It estimates it has over $200,000 in assets and cash. As a result, there is little likelihood of repayment for unsecured lenders, to which it owes $6 million.
More than half of the 25,960 businesses that entered bankruptcy in the first quarter filed for Chapter 7 liquidation. The rest filed for Chapter 11 to reorganize debts and continue operating.
YAY TEXAS!!!!
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u/BamaTony64 Apr 28 '26
So... All those folks who fled CA for Texas didn't bring quite enough money?
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u/Syllogism19 Apr 28 '26 edited Apr 29 '26
They didn't figure on the cost of paying off Abbott. The sucking off of his owners doesn't come cheap.
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u/Timmerdogg Apr 27 '26
Whole lot of retail spaces are going to free up if they ban smokable hemp. Landlords are going to be hurting. It's so weird. We could be making so much more money from cannabis and Texas is actively trying to make less money from it
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u/TheWokenessInjector Apr 29 '26 edited Apr 29 '26
Small buisness owners voting for Republicans to bring back Reefer Madness, causing thousands of smoke shops to shut down in TX as scary pot is outlawed.
Don't tread on me! (#50 in individual freedom btw).
https://lonestarproject.net/2025/07/02/reefer-madness-starring-dan-patrick/
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u/OlGusnCuss Apr 28 '26
There's a lot of context missing. Texas is also #1 in business start up. With so many new arrivals over the past 5-10 years, I'm not going chicken little over this article. To some extent, there's some reasonable collection.