Highlights
Read the report Insolvency Statistics in Canada—June 2021.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 0.6% in June 2021 compared to the previous month. Bankruptcies decreased by 1.2% and proposals increased by 1.5%.
The total number of insolvencies in June 2021 was 16.2% higher than the total number of insolvencies in June 2020. Consumer insolvencies increased by 17.3%, while business insolvencies decreased by 10.8%.
For the 12month period ending June 30, 2021, the total number of insolvencies decreased by 25.6% compared with the 12month period ending June 30, 2020.
Consumer insolvencies for the 12month period ending June 30, 2021, decreased by 25.7% compared with the 12month period ending June 30, 2020. Consumer bankruptcies decreased by 34.3%, while consumer proposals decreased by 20.7%. The proportion of proposals in consumer insolvencies increased to 67.3% during the 12month period ending June 30, 2021, up from 63.1% during the 12month period ending June 30, 2020. For the 12month period ending June 30, 2021, consumer insolvency filings accounted for 97.3% of total insolvency filings.
Business insolvencies for the 12month period ending June 30, 2021, decreased by 22.2% compared with the 12month period ending June 30, 2020. The two sectors that registered the biggest decrease in the number of insolvencies were construction and retail trade. Mining and oil and gas extraction; and finance and insurance experienced the biggest increase in insolvencies.
One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in June 2021. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.