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Insolvency Statistics in Canada—November 2020

Highlights

Read the report Insolvency Statistics in Canada—November 2020.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.9% in November 2020 compared to the previous month. Bankruptcies decreased by 4.2% and proposals decreased by 2.2%.

The total number of insolvencies in November 2020 was 32.9% lower than the total number of insolvencies in November 2019. Consumer insolvencies decreased by 33.0%, while business insolvencies decreased by 30.1%.

For the 12‑month period ending November 30, 2020, the total number of insolvencies decreased by 26.9% compared with the 12‑month period ending November 30, 2019.

Consumer insolvencies for the 12‑month period ending November 30, 2020, decreased by 27.0% compared with the 12‑month period ending November 30, 2019. Consumer bankruptcies decreased by 36.9%, while consumer proposals decreased by 20.4%. The proportion of proposals in consumer insolvencies increased to 65.5% during the 12‑month period ending November 30, 2020, up from 60.0% during the 12‑month period ending November 30, 2019. For the 12‑month period ending November 30, 2020, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12‑month period ending November 30, 2020, decreased by 22.1% compared with the 12‑month period ending November 30, 2019. The two sectors that registered the biggest decrease in the number of insolvencies were construction, and professional, scientific and technical services. Arts, entertainment and recreation as well as retail trade experienced the biggest increase in insolvencies.

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

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