Issue 18-96 Bankruptcies

May 31, 2018

In March 2018, there was a decline of 23.9% in overall bankruptcies in British Columbia compared to March 2017. Of the 351 bankruptcies, 7 were filed by businesses, down from 13 business bankruptcies registered in March last year. Consumer bankruptcies also fell (-23.2%) in March, compared to the same month a year earlier.

For Canada as a whole, bankruptcies went down by 13.9% in March, compared to the same month last year, with both consumers (‑14.2%) and businesses (-8.0%) registering a decline.

Educational services saw the largest decrease in the number of businesses filing for bankruptcy (‑92.9% or ‑13 businesses) compared to March 2017. The largest increases in the number of business bankruptcies in March compared to the same month last year were in accommodation and food services (+14.6% or +6 businesses) administrative and support, waste management and remediation services (+62.5% or +5 businesses) and retail trade (+16.7% or +5 businesses).

Data Source: Innovation, Science and Economic Development Canada