The week in bankruptcies: Lewisberry Partners LLC and MBMK Property Holdings LLC

Philadelphia-area bankruptcy courts recorded two business filings - both with total debts above $1 million - during the week that ended February 26, 2021. Year to date through February 26, 2021, the court recorded seven Chapter 7 or Chapter 11 business bankruptcy filings, a 61% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure…