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There were 640 bankruptcy filings in Delaware last year, up from 536 in 2011. That number is likely inflated, Buchanan Ingersoll & Rooney Shareholder William H. Schorling explained in the Philadelphia Business Journal, because Delaware courts include subsidiaries separately.

Both New Jersey and Philadelphia filing numbers were low by comparison – 264 and 120, respectively.

Schorling noted the Philadelphia region’s strength in the life sciences, health care and technology industries – so-called “recession-proof” industries – helped keep companies in business.