Consumer bankruptcies jump 45.5 per cent
Canadian consumer bankruptcies leaped in September.
Photograph by: Canwest News Service, Canwest News Service
OTTAWA — The number of Canadian bankruptcies jumped by an annual rate of 43.3 per cent in September, as consumers continued to take the brunt of the economic downturn.
The Office of the Superintendent of Bankruptcy reported Friday that total insolvencies rose to 16,044 during the month, up from 11,198 a year earlier. That was also up 28.4 per cent from 12,499 filings in August of this year.
Consumer filings rose 45.5 per cent to 15,465 in September from a year earlier, and were 28.5 per cent higher than in August when bankruptcies totalled 12,033.
Meanwhile, business filings rose 1.6 per cent to 579 during the month from 570 in September 2008. On a monthly basis, bankruptcies increased 24.2 per cent from 466 in August.
"Historically, monthly variations between the months of August and September have been mostly positive," the bankruptcy office said. "In the last 10 years, total insolvencies filed in the month of September have been higher than in August on seven occurrences."
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