Canada is seeing a surge in bankruptcies as a result of the ongoing global economic slowdown, with cases of bankruptcies in September 18.7 percent more than August.
There were 8,836 bankruptcies in the country in September, almost 1,400 more than in August and almost 2,000 more than in September 2007, according to a report of the superintendent of bankruptcy.
The September saw an 18.7 percent rise from August and 28.4 percent increase from a year ago.
The number of bankruptcies over 12 months through September was91,434, up 6.4 percent from 85,969 in the 12-month period through September 2007.
There were 8,347 consumer bankruptcies in September, up from 6,977, or 19.6 percent from August, and nearly 2,000 more than in September 2007.
There were 85,243 consumer bankruptcies over 12 months through September, up 7.2 percent from 79,546 in the 12-month period through September 2007.
There were 489 business bankruptcies in September, up 4.3 percent from 469 in August and 40 more than in September 2007.
There were 6,191 business bankruptcies over 12 months through September, down 3.6 percent from 6,423 in the 12-month period through September 2007.
Source: Xinhua
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