VI Fitness closed all of its Vancouver Island locations after having declared bankruptcy in May 2018.(Keri Coles/Black Press).

Bankruptcies down in British Columbia in 2018 compared to 2017

Personal bankruptcies dropped seven per cent in 2018

A total of 273 British Columbians declared personal bankruptcy in December 2018.

That is down about seven per cent from December 2017 when 292 individuals declared bankruptcy. Overall, 4,072 British Columbians declared personal bankruptcy in 2018, down from 4,146 in 2017.

RELATED: VI Fitness files for bankruptcy

RELATED: Bankruptcies in British Columbia on the rise

Nationally, 55,091 Canadians declared in bankruptcy, down from 57,969 in 2017.

Looking at businesses, 75 businesses declared bankruptcy in B.C. in 2018 — down from 117 in 2017. Nationally, the number of business bankruptcies remained largely steady.

Perhaps the most prominent local example of a recent business failure is VI Fitness Centres, which filed for bankruptcy May 1, permanently closing all of its locations.

In 2018, 2,677 Canadian businesses filed for bankruptcy, down from 2,700.


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