Insolvency Statistics in Canada—April 2019

Highlights

Read the report Insolvency Statistics in Canada—April 2019.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 1.4% in April 2019 compared to the previous month. Bankruptcies increased by 4.4% and proposals decreased by 5.3%.

The total number of insolvencies in April 2019 was 9.6% higher than the total number of insolvencies in April 2018. Consumer insolvencies increased by 9.3%, while business insolvencies increased by 21.4%.

For the 12-month period ending April 30, 2019, the total number of insolvencies increased by 4.4% compared with the 12-month period ending April 30, 2018.

Consumer insolvencies for the 12-month period ending April 30, 2019, increased by 4.5% compared with the 12-month period ending April 30, 2018. Consumer bankruptcies decreased by 3.3%, while consumer proposals increased by 11.2%. The proportion of proposals in consumer insolvencies increased to 57.3% during the 12-month period ending April 30, 2019, up from 53.8% during the 12-month period ending April 30, 2018. For the 12-month period ending April 30, 2019, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending April 30, 2019, increased by 2.3% compared with the 12-month period ending April 30, 2018. The two sectors that registered the biggest increase in the number of insolvencies were other services (except public administration); and real estate and rental and leasing. Arts, entertainment and recreation; mining and oil and gas extraction; and accommodation and food services experienced the biggest decrease in insolvencies.

Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in April 2019. 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.

Read the report Insolvency Statistics in Canada—April 2019.

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