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Insolvency Statistics in Canada—June 2020

Highlights

Read the report Insolvency Statistics in Canada—June 2020.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 4.7% in June 2020 compared to the previous month. Bankruptcies increased by 8.0% and proposals increased by 2.9%.

The total number of insolvencies in June 2020 was 41.1% lower than the total number of insolvencies in June 2019. Consumer insolvencies decreased by 41.8%, while business insolvencies decreased by 15.3%.

For the 12‑month period ending June 30, 2020, the total number of insolvencies decreased by 5.8% compared with the 12‑month period ending June 30, 2019.

Consumer insolvencies for the 12‑month period ending June 30, 2020, decreased by 5.6% compared with the 12‑month period ending June 30, 2019. Consumer bankruptcies decreased by 16.8%, while consumer proposals increased by 2.4%. The proportion of proposals in consumer insolvencies increased to 63.1% during the 12‑month period ending June 30, 2020, up from 58.1% during the 12‑month period ending June 30, 2019. For the 12‑month period ending June 30, 2020, consumer insolvency filings accounted for 97.4% of total insolvency filings.

Business insolvencies for the 12‑month period ending June 30, 2020, decreased by 13.3% compared with the 12‑month period ending June 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 retail trade experienced the biggest increase in insolvencies.

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

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