The number of Albertans who filed for insolvency rose in 2018, though corporate bankruptcies in the oil and gas sector declined significantly.
The number of Albertans who filed for insolvency rose in 2018, though corporate bankruptcies in the oil and gas sector declined significantly.
According to the Office of the Superintendent of Bankruptcy, 14,700 Albertans declared personal insolvency last year, a nearly 10 per cent increase from the year before and the second highest increase among Canadian provinces after Newfoundland and Labrador.
The uptick can be attributed to the provinces unemployment rate, which remains elevated compared with pre-recession levels, as well as rising interest rates, said David Lewis, an Alberta-based…
Read the full article at: https://calgarysun.com/business/local-business/consumer-bankruptcies-on-the-rise-in-alberta-while-oil-and-gas-bankruptcies-decline/wcm/3c4afbd1-3f8d-4576-aff1-b5bd96102b67