Highlights
Read the report Insolvency Statistics in Canada—April 2022.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 13.7% in April 2022 compared to the previous month. Bankruptcies decreased by 9.9% and proposals decreased by 15.1%.
The total number of insolvencies in April 2022 was 0.1% higher than the total number of insolvencies in April 2021. Consumer insolvencies decreased by 0.6%, while business insolvencies increased by 29%.
For the 12month period ending April 30, 2022, the total number of insolvencies increased by 1.3% in comparison to the 12month period ending April 30, 2021.
Consumer insolvencies for the 12month period ending April 30, 2022, increased by 1.1% in comparison to the 12month period ending April 30, 2021. Consumer bankruptcies decreased by 12.3%, while consumer proposals increased by 7.8%. The proportion of proposals in consumer insolvencies increased to 71.3% during the 12month period ending April 30, 2022, up from 66.9% during the 12month period ending April 30, 2021. For the 12month period ending April 30, 2022, consumer insolvency filings accounted for 97.0% of total insolvency filings.
Business insolvencies for the 12month period ending April 30, 2022, increased by 7.9% compared with the 12month period ending April 30, 2021. The sectors that registered the biggest decrease in the number of insolvencies were real estate and rental and leasing, retail trade as well as arts, entertainment and recreation. Transportation and warehousing, and construction experienced the biggest increase in insolvencies.
Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in April 2022. Please refer to the CCAA Records List for additional details.