Highlights
Insolvency Statistics in Canada — August 2009

The month of August 2009 has seen the fewest number of business insolvencies (466) since January 1987.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 8.2 percent in August 2009 from the previous month. Bankruptcies fell 7.6 percent whereas proposals declined 10.4 percent. Historically, the number of insolvencies in August has been lower than the number in July on three occasions over the past 10 years.

In comparison with the same month last year, the total number of insolvencies in August 2009 was 33.5 percent higher than the number in August 2008. While total businesses insolvencies declined by 18.8 percent in Canada, total consumer insolvencies increased by 36.9 percent.

For the 12-month period ending August 31, 2009, total insolvencies increased by 32.4 percent compared with the 12-month period ending August 31, 2008. This is mainly due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending August 31, 2009 fell by 6.4 percent compared with the 12-month period ending August 31, 2008. A reduction in insolvencies in the Construction; Transportation and Warehousing; Agriculture, Forestry, Fishing and Hunting; and Retail Trade sectors contributed to this decrease.

Read the report Insolvency Statistics in Canada — August 2009.