Issue 18-78 Bankruptcies

April 30, 2018

In February 2018, there was an increase of 1.5% in overall bankruptcies in British Columbia compared to February 2017. Of the 347 bankruptcies, 11 were filed by businesses, down from 16 business bankruptcies registered in February last year. Consumer bankruptcies went up (+3.1%) in February, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 2.1% in February, compared to the same month last year, with consumer bankruptcies (‑2.8%) registering a decline, and business bankruptcies (+11.4%) going up.

Retail trade saw the largest decrease in the number of businesses filing for bankruptcy (‑37.5% or ‑15 businesses) compared to February 2017. The largest increases in the number of business bankruptcies in February compared to the same month last year were in real estate and rental and leasing (+171.4% or +12 businesses) and construction (+33.3% or +12 businesses).

Data Source: Innovation, Science and Economic Development Canada