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Insolvency Statistics in Canada—February 2021

Highlights

Read the report Insolvency Statistics in Canada—February 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 6.4% in February 2021 compared to the previous month. Bankruptcies increased by 9.0% and proposals increased by 5.2%.

The total number of insolvencies in February 2021 was 33.3% lower than the total number of insolvencies in February 2020. Consumer insolvencies decreased by 33.2%, while business insolvencies decreased by 38.0%.

For the 12‑month period ending February 28, 2021, the total number of insolvencies decreased by 36.1% compared with the 12‑month period ending February 28, 2020.

Consumer insolvencies for the 12‑month period ending February 28, 2021, decreased by 36.2% compared with the 12‑month period ending February 28, 2020. Consumer bankruptcies decreased by 45.2%, while consumer proposals decreased by 30.5%. The proportion of proposals in consumer insolvencies increased to 66.7% during the 12‑month period ending February 28, 2021, up from 61.2% during the 12‑month period ending February 28, 2020. For the 12‑month period ending February 28, 2021, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12‑month period ending February 28, 2021, decreased by 32.0% compared with the 12‑month period ending February 28, 2020. The three sectors that registered the biggest decrease in the number of insolvencies were construction; accommodation and food services; and manufacturing. Arts, entertainment and recreation; mining and oil and gas extraction; and public administration experienced an increase in insolvencies.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in February 2021. 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—February 2021.

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