Insolvency Statistics in Canada—January 2020

Highlights

Read the report Insolvency Statistics in Canada—January 2020.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.7% in January 2020 compared to the previous month. Bankruptcies decreased by 1.7% and proposals increased by 15.5%.

The total number of insolvencies in January 2020 was 10.4% higher than the total number of insolvencies in January 2019. Consumer insolvencies increased by 10.6%, while business insolvencies increased by 5.5%.

For the 12‑month period ending January 31, 2020, the total number of insolvencies increased by 9.6% compared with the 12‑month period ending January 31, 2019.

Consumer insolvencies for the 12‑month period ending January 31, 2020, increased by 9.8% compared with the 12‑month period ending January 31, 2019. Consumer bankruptcies decreased by 1.7%, while consumer proposals increased by 18.7%. The proportion of proposals in consumer insolvencies increased to 60.8% during the 12‑month period ending January 31, 2020, up from 56.2% during the 12‑month period ending January 31, 2019. For the 12‑month period ending January 31, 2020, consumer insolvency filings accounted for 97.4% of total insolvency filings.

Business insolvencies for the 12‑month period ending January 31, 2020, increased by 2.5% compared with the 12‑month period ending January 31, 2019. The two sectors that registered the biggest increase in the number of insolvencies were wholesale trade; and manufacturing. Construction; as well as accommodation and food services experienced the biggest decrease in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in January 2020. 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—January 2020.

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