Bankruptcy rate drops in January

A bustling economy sees fewer filings.



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January marked the biggest decline in Canadian bankruptcy filings for that month in two decades.

With the total number of insolvencies falling 6.7% from the previous month, and bankruptcies falling 9.4% on a monthly basis, analysts see this as a sign that the economy is improving.

The decrease is being attributed to downswing in consumer bankruptcies. Only 354 businesses in Canada declared bankruptcy in January.

One comment on “Bankruptcy rate drops in January

  1. Excellent news!!! Yeah Canada's economy!!! Really??
    What they don't tell us, is that for the 12 months ending in January 2010:
    Bankruptcies in BC was up 39.9% and proposals were up 52.6%
    Ontario was up 25.1% and proposals were up 40.5%

    Overall bankruptcies were up 25% for the previous 12 months ending January 2010.
    We need to take a look at the bigger picture.


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