The latest bankruptcy statistics for November, 2005 were released on the internet by Industry Canada on January 6, 2005. Bankruptcies remain high despite Canada’s very strong economy and it appears that personal bankruptcies and personal proposals will again exceed 100,000 for 2005. Business bankruptcies carry on with a downward trend started more than a decade ago with a November YTD decline of 7 %.
Total bankruptcies for November, 2005 were up by 1.5% compared with the previous year. Consumer bankruptcies rose by 3.0% (7,580/7,359). Business bankruptcies dropped by 14.6% (581/680).
Year to date bankruptcies were flat (85,697/85,746). Consumer bankruptcies rose only by 0.6% (78,739/78,285). Business bankruptcies fell 6.7% (6,958/7,461) .