State Sees Record Business Closings In 1st Quarter

HARTFORD (AP) — Connecticut Secretary of the State Susan Bysiewicz says nearly 3,500 businesses in the state closed from January to March, the highest first quarter number since the state began tracking closures in 2000.

The number of closures was a 16 percent increase over the first quarter of last year.

Ms Bysiewicz also says more than 6,900 businesses started up from January to March of this year, the lowest number of first quarter openings since 2001.

The secretary of the state is Connecticut’s chief business registrar. She says businesses in the state are struggling to stay afloat, despite national numbers that suggest the recession has bottomed out.

Nearly 13,500 businesses in the state filed paperwork last year to dissolve, the highest number on record.