Issue 18-115 Bankruptcies

June 29, 2018

In April 2018, there was an increase of 0.5% in overall bankruptcies in British Columbia compared to April 2017. Of the 368 bankruptcies, 11 were filed by businesses, up from 10 business bankruptcies registered in April last year. Consumer bankruptcies also grew (+0.3%) in April, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 4.2% in April, compared to the same month last year, led by consumers (‑4.4%) as business bankruptcies remained unchanged.

Manufacturing saw the largest decrease in the number of businesses filing for bankruptcy (‑27.6% or ‑8 businesses) compared to April 2017. The largest increases in the number of business bankruptcies in April compared to the same month last year were in construction (+45.5% or +15 businesses), professional, scientific and technical services (+66.7% or +8 businesses) and wholesale trade (+44.4% or +4 businesses).

Data Source: Innovation, Science and Economic Development Canada