NEWS FLASH! September 18, 2007: The bankruptcy statistics for July, 2007 were released on the Internet today.
The insolvency rate (consumer bankruptcies, business bankruptcies and proposals) jumped by 9.4% in July, 2007 compared with the same month the previous year. The big rise in the insolvency rate was driven by Quebec and Ontario with increase of 16.2% and 13.5%.
Consumer Bankruptcies are up 9.6% compared with the same month last year.
Business Bankruptcies were up by 9.4% compared with the same month last year.
Proposals rose 8.8% compared with the same month last year.
Year to Date Insolvencies rose by 2.2% compared to the same period last year.
Consumer Bankruptcies were up 0.5% compared with the same period last year.
Business Bankruptcies down 7.2% compared with the same period last year.
Proposals rose 12.5% compared with the same period last year.
For more information and more detailed analysis please refer to this site.