Insolvency Statistics in Canada—April 2020

Highlights

Read the report Insolvency Statistics in Canada—April 2020.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 38.7% in April 2020 compared to the previous month. Bankruptcies decreased by 41.5% and proposals decreased by 37.2%.

The total number of insolvencies in April 2020 was 43.5% lower than the total number of insolvencies in April 2019. Consumer insolvencies decreased by 43.1%, while business insolvencies decreased by 54.8%.

For the 12‑month period ending April 30, 2020, the total number of insolvencies increased by 3.5% compared with the 12‑month period ending April 30, 2019.

Consumer insolvencies for the 12‑month period ending April 30, 2020, increased by 3.9% compared with the 12‑month period ending April 30, 2019. Consumer bankruptcies decreased by 7.9%, while consumer proposals increased by 12.7%. The proportion of proposals in consumer insolvencies increased to 62.1% during the 12‑month period ending April 30, 2020, up from 57.3% during the 12‑month period ending April 30, 2019. For the 12‑month period ending April 30, 2020, consumer insolvency filings accounted for 97.5% of total insolvency filings.

Business insolvencies for the 12‑month period ending April 30, 2020, decreased by 8.0% compared with the 12‑month period ending April 30, 2019. The two sectors that registered the biggest decrease in the number of insolvencies were construction; and accommodation and food services. Arts, entertainment and recreation as well as manufacturing experienced the biggest increase in insolvencies.

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

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