Insolvency Statistics in Canada—March 2020

Highlights

Read the report Insolvency Statistics in Canada—March 2020.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.3% in March 2020 compared to the previous month. Bankruptcies decreased by 4.5% and proposals decreased by 2.6%.

The total number of insolvencies in March 2020 was 9.1% lower than the total number of insolvencies in March 2019. Consumer insolvencies decreased by 8.5%, while business insolvencies decreased by 30.7%.

For the 12-month period ending March 31, 2020, the total number of insolvencies increased by 8.4% compared with the 12-month period ending March 31, 2019.

Consumer insolvencies for the 12-month period ending March 31, 2020, increased by 8.7% compared with the 12-month period ending March 31, 2019. Consumer bankruptcies decreased by 3.0%, while consumer proposals increased by 17.5%. The proportion of proposals in consumer insolvencies increased to 61.6% during the 12-month period ending March 31, 2020, up from 57.0% during the 12-month period ending March 31, 2019. For the 12-month period ending March 31, 2020, consumer insolvency filings accounted for 97.5% of total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2020, decreased by 0.9% compared with the 12-month period ending March 31, 2019. The two sectors that registered the biggest decrease in the number of insolvencies were construction; and transportation and warehousing. Manufacturing as well as arts, entertainment and recreation experienced the biggest increase in insolvencies.

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

Date modified: