Issue 17-139: Bankruptcies
October 31, 2017
In August 2017, there was a decrease of 10.8% in overall bankruptcies compared to August 2016. Of the 314 bankruptcies, two were filed by businesses, a reduction of 80.0% compared to the 10 business bankruptcies registered in August last year. Consumer bankruptcies also fell (-8.8%) in August, compared to the same month a year earlier.
For Canada as a whole, bankruptcies dropped by 6.6% in August, compared to the same month last year, with both consumers (-6.6%) and businesses (-5.9%) registering declines.
Real estate and rental and leasing services saw the largest decrease in the number of businesses filing for bankruptcy (‑‑69.2% or 9 businesses) compared to August 2016. Notable decreases were also observed in the management of companies and enterprises (‑66.7%), and finance and insurance (‑66.7%).
The largest increases in the number of business bankruptcies in August compared to the same month last year were in the construction (+19.4% or 7 businesses) and agriculture, forestry, fishing and hunting (+600.0% or 6 businesses) industries.
Data Source: Innovation, Science and Economic Development Canada