Canadian Bankruptcies Up 21 per Cent

Canadian Bankruptcies Up 21 per Cent
Bankruptcies in Canada numbered 9,468 in October, up 7.2 per cent from September and 21.1 per cent from October 2007, with the pain concentrated among individuals. The office of the federal Superintendent of Bankruptcy reported Thursday that 8,972 consumers filed for bankruptcy in October, up 7.5 per cent from October and 22.8 per cent from a year earlier. Business bankruptcies totalled 496 for the month, up 1.4 per cent from the previous month but down 3.3 per cent from the year-ago corporate toll. Compared with a year earlier, the month's total bankruptcies were up 50.9 per cent in Alberta, 37.4 per cent in British Columbia, 36.5 per cent in Newfoundland and Labrador, 21.6 per cent in Ontario, 17.4 per cent in Nova Scotia, 15.3 per cent in Saskatchewan and 13.6 per cent in Quebec.