Recession Drives 2008 Insolvencies to a Record High.

Canadian Insolvencies Increase by 45% for the Month of December, 2008 compared with the Same Month in 2007.

Consumer Bankruptcies were up 50.6% compared with the same month the previous year.

Business Bankruptcies were up by 2.4% compared with the same month the previous year.

Proposals were up by 39.1% compared with the same month the previous year.

For the 12 months ending December 31, 2008 Insolvencies are up by 13.2% compared with the previous year; (2008:123,234 - 2007:108,905)

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

% Increase
(Decrease)
NL (17.5)
NS 44.7
PE 269.2
NB 65.4
QC 37.6
ON 47.1
MB 30.2
SK 28.3
AB 84.4
BC 45.3

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

This entry was posted on Monday, February 9th, 2009 at 1:19 pm and is filed under Bankruptcy Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.