Highlights
Read the report Insolvency Statistics in Canada — November 2022.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.3% in November 2022 compared to the previous month. Bankruptcies increased by 6.0% and proposals increased by 7.7%.
The total number of insolvencies in November 2022 was 17.5% higher than the total number of insolvencies in November 2021. Consumer insolvencies increased by 16.3%, while business insolvencies increased by 58.3%.
For the 12‑month period ending , the total number of insolvencies increased by 10.2% in comparison to the 12‑month period ending .
Consumer insolvencies for the 12‑month period ending , increased by 9.5% in comparison to the 12‑month period ending . Consumer bankruptcies decreased by 11.5%, while consumer proposals increased by 18.9%. The proportion of proposals in consumer insolvencies increased to 75.0% during the 12‑month period ending , up from 69.1% during the 12‑month period ending . For the 12‑month period ending , consumer insolvency filings accounted for 96.7% of total insolvency filings.
Business insolvencies for the 12‑month period ending , increased by 37.8% compared with the 12‑month period ending . The sectors that registered the biggest decrease in the number of insolvencies were mining and oil and gas extraction, and finance and insurance. Accommodation and food services, and construction registered the biggest increases in the number of insolvencies.
Read the report Insolvency Statistics in Canada — November 2022.