The report shows a 42 percent increase in corporate bankruptcies in Canada.

 

According to the Office of the Superintendent of Bankruptcy, business bankruptcies in Canada are up 41.8 percent from the previous year. According to the Office of the Superintendent of Bankruptcy, 1,129 businesses declared bankruptcy in the third quarter, a 3.6 percent increase from the second quarter. Consumer bankruptcy filings increased 17.8 percent over the previous year. However, the research shows it has dropped by 2.4 percent since the second quarter.