Bankruptcies up more than 25% in 2009; proposals increase nearly 40%

The Canadian Press ~ The News
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Ottawa -

Bankruptcies were up by more than a quarter last year, to almost 122,000.
The Office of the Superintendent of Bankruptcy reports the total number of bankruptcies hit 121,801, an increase of 25.9 per cent over 2008.
There were also 36,640 proposed bankruptcies, 38.5 per cent more than in the year before.
Bankruptcies include 116,381 filed by consumers, a 28.4 per cent increase over 2008, and 5,430 filed by businesses, a 12.1 per cent decrease.
Total bankruptcies included $8 billion in assets declared at filing, against $17.7 billion in liabilities.
There were 26,235 bankruptcies filed in the fourth quarter of 2009, 0.8 per cent fewer than in the fourth quarter of 2008.

Organizations: Office of the Superintendent of Bankruptcy

Geographic location: Ottawa

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Recent comments

  • Tomas
    July 02, 2010 - 13:33

    there's a shock...... with the artificially inflated price of housing and the general cost of living, and the lack of pay increases to the working person to enable them to keep up who would have seen this kind of thing happening....

  • linda
    July 02, 2010 - 13:13

    my guess there are more bankruptcies to come when the interest rate take a hike. Oh well, the low interest rates couldn't last forever... Enjoy it now while you can!

  • Tomas
    July 01, 2010 - 20:22

    there's a shock...... with the artificially inflated price of housing and the general cost of living, and the lack of pay increases to the working person to enable them to keep up who would have seen this kind of thing happening....

  • linda
    July 01, 2010 - 19:52

    my guess there are more bankruptcies to come when the interest rate take a hike. Oh well, the low interest rates couldn't last forever... Enjoy it now while you can!