The week in bankruptcies: Watershed Holdings LLC, Sound Housing LLC and 3 more

Seattle area bankruptcy courts recorded five business filings — including two with total debts above $1 million — during the week that ended Feb. 26. Year to date through Feb. 26, the court recorded seven Chapter 7 or Chapter 11 business bankruptcy filings, a 13% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business's assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor…