Bankruptcy rate drops in January - MoneySense

Bankruptcy rate drops in January

A bustling economy sees fewer filings.


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.