Issue 16-186: Bankruptcies
September 30, 2016
There were 404 bankruptcies filed by consumers in British Columbia in July, a 15.1% decline from July 2015. The number of business bankruptcies was also down (-16.7% to 10), while the volume of proposals to resolve outstanding debts with creditors by means other than the existing terms swelled 50.0% between July 2015 and July 2016.
Nationally, the total amount of bankruptcies filed was down 10.6%, as both consumer (-10.2%) and business (-18.3%) numbers declined.
Data Source: Industry Canada