Highlights
Insolvency Statistics in Canada — July 2009

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 5.6 percent in July 2009 from the previous month. Bankruptcies fell by 5.4 percent, whereas proposals declined by 6.1 percent. Historically, the number of insolvencies in July has been lower than the number in June on eight occasions over the past 10 years.

In comparison with the same month last year, the total number of insolvencies in July 2009 was 34.6 percent higher than the number in July 2008. While total business insolvencies declined by 7.6 percent in Canada, total consumer insolvencies increased by 37.2 percent.

For the 12-month period ending July 31, 2009, total insolvencies increased by 29.8 percent compared with the 12-month period ending July 31, 2008. This is mainly due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending July 31, 2009, fell by 5.2 percent compared with the 12-month period ending July 31, 2008. A reduction in insolvencies in the retail trade, agriculture, forestry, fishing and hunting, and transportation and warehousing sectors contributed to this decrease.

Read the report Insolvency Statistics in Canada — July 2009.