Issue 17-160 Bankruptcies

November 30, 2017

In September 2017, there was a decrease of 8.4% in overall bankruptcies compared to September 2016. Of the 329 bankruptcies, nine were filed by businesses, a reduction of 10.0% compared to the 10 business bankruptcies registered in September last year. Consumer bankruptcies also fell (-8.3%) in September, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 9.8% in September, compared to the same month last year, with both consumer bankruptcies (‑9.4%) and businesses (-19.6%) registering declines.

Accommodation and food services saw the largest decrease in the number of businesses filing for bankruptcy (‑‑46.3% or 19 businesses) compared to September 2016. Notable decreases were also observed in the construction (‑18.2% or ‑8 businesses), and administrative and support, waste management and remediation services (‑54.5% or ‑6 businesses).

The largest increases in the number of business bankruptcies in September compared to the same month last year was in management of companies and enterprises (+75.0% or 3 businesses).

Data Source: Innovation, Science and Economic Development Canada