Issue 16-146: Bankruptcies

July 28, 2016

The number of consumer bankruptcies in the province was notably lower in May (-7.5%, year-over-year). There were 444 bankruptcies in May, compared to 480 in the same month of 2015. Nationally, consumer bankruptcies were on the rise, climbing 7.6% over May 2015.

Business bankruptcies in the province were more than double this May (+128.6%) compared to the same month last year. The number of Canadian businesses filing bankruptcy papers increased 5.5% from twelve months earlier. In total, 248 businesses in Canada, including 16 in B.C., officially folded in May.

Data Source: Industry Canada