Highlights
Read the report Insolvency Statistics in Canada—August 2022.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 13.7% in August 2022 compared to the previous month. Bankruptcies increased by 10.7% and proposals increased by 14.8%.
The total number of insolvencies in August 2022 was 27.6% higher than the total number of insolvencies in August 2021. Consumer insolvencies increased by 26.7%, while business insolvencies increased by 66.1%.
For the 12 month period ending August 31, 2022, the total number of insolvencies increased by 4.4% in comparison to the 12 month period ending August 31, 2021.
Consumer insolvencies for the 12 month period ending August 31, 2022, increased by 3.9% in comparison to the 12 month period ending August 31, 2021. Consumer bankruptcies decreased by 13.3%, while consumer proposals increased by 12.0%. The proportion of proposals in consumer insolvencies increased to 73.3% during the 12 month period ending August 31, 2022, up from 68.0% during the 12 month period ending August 31, 2021. For the 12 month period ending August 31, 2022, consumer insolvency filings accounted for 96.9% of total insolvency filings.
Business insolvencies for the 12 month period ending August 31, 2022, increased by 25.3% compared with the 12 month period ending August 31, 2021. The sectors that registered the biggest decrease in the number of insolvencies were mining and oil and gas extraction, management of companies and enterprises. Accommodation and food services and construction registered the biggest increases in the number of insolvencies.
Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in August 2022. Please refer to the CCAA Records List for additional details.
Read the report Insolvency Statistics in Canada—August 2022.