Canadian Insolvencies Increase by 22.4% for the Month of October, 2008 compared with the Same Month in 2007.

Consumer Bankruptcies were up 22.8% compared with the same month the previous year.

Business Bankruptcies were down by 3.3% compared with the same month the previous year.

Proposals were up by 27.2% compared with the same month the previous year.

For the 12 months ending October 31, 2008 Insolvencies are up by 8.9% compared with the previous year; (2008:118,498 – 2007:108,769)

Provinces with Double Digit Changes in
the Insolvency Rate in October, 2008
compared with October, 2007.
Province

% Increase
(Decrease)
NL 35.4
NS 18.0
PE 60.6
QC 15.7
ON 23.9
MB 30.4
AB 42.3
BC 32.3

For more information and more detailed analysis please refer to this site.

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