Higher increase of bankruptcies in Alberta than any other province

Bankruptcies are on the increase in Canada and Alberta was the only province with a double-digit increase in percentages of bankruptcies.

According to the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), Albertans filing for personal bankruptcy was up by more than 15 per cent this year compared with 2018.

From September 2018 to September 2019 there was a 15.2 per cent increase in personal bankruptcies with 16,181 filed compared with 14,045 for the same period a year previous.  

READ MORE: Canadian economy lost 1,800 jobs in October: Stats Canada

Business bankruptcies were up by 9.9 per cent, from 202 the prior year to 222 from September 2018 to September 2019.

Nationally, the numbers were in the single digits with an 8.5 per cent increase. There were 133,923 consumer insolvencies filed compared with 123,391 for the year previous. There was a 4.1 per cent increase nationally in business bankruptcies with 3,719 businesses filing compared with 3,571 for the same period a year earlier.

-george@albertapressleader.ca

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