OTTAWA – Bankruptcies in Canada fell 9.2 per cent in May from the month before, the Office of the Superintendent of Bankruptcies reported Monday.
On a year-over-year basis, bankruptcies filed by consumers and businesses fell 20.5 per cent, the federal agency said.
Consumer bankruptcies were down 8.3 per cent from the previous month and 20 per cent compared with 12 months earlier.
Business bankruptcies fell 26.9 per cent in May over April and 31.5 per cent year-over-year.
Total bankruptcies eased in all provinces but Saskatchewan, where they rose 12.8 per cent.
The declines occurred as Canada continued to generate strong employment gains in 2010, and the economy grew in the first quarter at its fastest pace since 1999.
In April, total bankruptcies dropped 1.3 per cent from the previous month and 21 per cent year-over-year.
