Chapter 11 bankruptcy filings by U.S. businesses surged 50 percent last year, outpacing the increase for individuals.

The number of businesses filing for bankruptcy in 2009 increased 38% over the prior year, providing a measuring stick of the widespread economic crisis that likely will continue to put pressure on companies in 2010.

There were 2,477 bankruptcy filings in Washington state last month, up 32 percent from the previous November.

Yield-hungry investors have driven a robust rally in junk bonds this year, allowing many weak companies to avoid or postpone appearances in bankruptcy court by refinanc- ing their debt at attractive rates.

"Bankruptcies lag the economy, and you won't see any effects of a better economy for at least six months, and perhaps 12 to 18 months," he said. "Bankruptcies are a last resort for many people, and you're seeing filings now that typically arise from problems six to 12 months ago."