Insolvency Statistics in Canada—May 2019

Highlights

Read the report Insolvency Statistics in Canada—May 2019.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 4.5% in May 2019 compared to the previous month. Bankruptcies increased by 5.0% and proposals increased by 4.1%.

The total number of insolvencies in May 2019 was 8.3% higher than the total number of insolvencies in May 2018. Consumer insolvencies increased by 8.6%, while business insolvencies increased by 0.3%.

For the 12-month period ending May 31, 2019, the total number of insolvencies increased by 5.2% compared with the 12-month period ending May 31, 2018.

Consumer insolvencies for the 12-month period ending May 31, 2019, increased by 5.2% compared with the 12-month period ending May 31, 2018. Consumer bankruptcies decreased by 2.9%, while consumer proposals increased by 12.1%. The proportion of proposals in consumer insolvencies increased to 57.7% during the 12-month period ending May 31, 2019, up from 54.2% during the 12-month period ending May 31, 2018. For the 12-month period ending May 31, 2019, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending May 31, 2019, increased by 3.4% compared with the 12-month period ending May 31, 2018. The two sectors that registered the biggest increase in the number of insolvencies were transportation and warehousing; and other services (except public administration). Arts, entertainment and recreation; and health care and social assistance experienced the biggest decrease in insolvencies.

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

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