Issue 18-22 Bankruptcies

January 31, 2018

In November 2017, there was a decrease of 1.4% in overall bankruptcies compared to November 2016. Of the 361 bankruptcies, nine were filed by businesses, up from eight business bankruptcies registered in November last year. Consumer bankruptcies also fell (-1.7%) in November, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 11.4% in November, compared to the same month last year, with both consumers (‑11.8 %) and businesses (-3.1%) registering declines.

Professional, scientific and technical services saw the largest decrease in the number of businesses filing for bankruptcy (‑36.0% or 9 businesses) compared to November 2016. The largest increases in the number of business bankruptcies in November compared to the same month last year was in management of companies and enterprises (+300.0% or 9 businesses) and retail trade (+52.9% or 9 businesses).

Data Source: Innovation, Science and Economic Development Canada