Issue 17-86: Bankruptcies

August 1, 2017

Bankruptcies

There was a 6.3% drop in the number of consumer bankruptcies in British Columbia in May, compared to the same month a year earlier. Bankruptcies registered by businesses dropped from 16 in May 2016 to 12 in May 2017, a decline of 25.0%.

For Canada as a whole, business bankruptcies climbed 14.5% year-over-year. The largest increase was in the construction industry, which registered a 25.0% rise in business failures. The transportation and warehousing sector also experienced a spike in bankruptcies, with a 66.7% jump.

Data Source: Innovation, Science and Economic Development Canada