Issue 18-61 Bankruptcies

March 29, 2018

In January 2018, there was an increase of 4.3% in overall bankruptcies compared to January 2017. Of the 366 bankruptcies, four were filed by businesses, down from 15 businesses in January of last year. Conversely, consumer bankruptcies went up (+7.7%) in January, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 4.9% in January, compared to the same month last year. Consumer bankruptcies declined (‑5.5%), while there was an increase in registered business bankruptcies (+7.9%).

Retail trade saw the largest increase in the number of businesses filing for bankruptcy (+55.6% or 10 businesses) compared to January 2017. The largest decline in the number of business bankruptcies in the 12 months ending January 2017 was in administrative and support, waste management and remediation services which decreased by 6 businesses (‑60.0%).

Data Source: Innovation, Science and Economic Development Canada