Sections
Definitions
- Companies' Creditors Arrangement Act (CCAA):
- The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.
- North American Industry Classification System (NAICS):
- The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.
Highlights
Seventeen Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the Office of the Superintendent of Bankruptcy (OSB) in the fourth quarter of 2025. Please refer to the CCAA Records List for additional details regarding each filing.
| Date of proceedings | Company name | Province of debtor | Sector | Monitor | Liabilities (in millions) |
|---|---|---|---|---|---|
| 2025-12-09 | Cabot Energy Inc | Alberta | Mining, quarrying, and oil and gas extraction | KSV RESTRUCTURING INC. | $81.3 |
| 2025-11-26 | Precision Concrete Services Limited et. al. | Nova Scotia | Professional, scientific and technical services | GRANT THORNTON LIMITED | $13.1 |
| 2025-11-26 | Groupe Mayrand Alimentation Inc. | Quebec | Wholesale trade | RAYMOND CHABOT INC. | $54.7 |
| 2025-11-25 | 1061511 B.C. Ltd., JAMESON BROADWAY & BIRCH GENERAL PARTNER LTD., AND JAMESON BROADWAY & BIRCH LIMITED PARTNERSHIP | British Columbia | Real estate and rental and leasing | ALVAREZ & MARSAL CANADA INC. | $134 |
| 2025-11-21 | SIRONA PHARMA INC., SUNERA ACREAGE HOLDINGS INC., ACREAGE DEVELOPMENT CORP. and SIRONA FARMS INC. | Alberta | Manufacturing | ERNST & YOUNG INC. | $39.5 |
| 2025-11-18 | Canacol Energy Ltd. et. al | Alberta | Mining, quarrying, and oil and gas extraction | KPMG INC. | $906 |
| 2025-11-17 | AYR Wellness Inc. | British Columbia | Retail trade | KSV RESTRUCTURING INC. | $946 |
| 2025-11-13 | Square Nine King George Development Ltd. | British Columbia | Construction | FTI CONSULTING CANADA INC. | $34.2 |
| 2025-11-10 | VOXTUR ANALYTICS CORP. et. al | Ontario | Professional, scientific and technical services | PRICEWATERHOUSECOOPERS INC. | $77.7 |
| 2025-11-07 | Tilt Holdings Inc | British Columbia | Management of companies and enterprises | PRICEWATERHOUSECOOPERS INC. | $200 |
| 2025-10-31 | XIWANG IOVATE HOLDINGS COMPANY LIMITED, IOVATE HEALTH SCIENCES INTERNATIONAL INC., IOVATE HEALTH SCIENCES U.S.A. INC., IOVATE HEALTH SCIENCES AUSTRALIA PTY LTD, and NORTHERN INNOVATIONS HOLDING CORP. | Ontario | Wholesale trade | KSV RESTRUCTURING INC. | $299 |
| 2025-10-28 | Lithion Technologies Inc., Lithion International Inc. and Lithion Saint-Bruno Inc. | Quebec | Administrative and support, waste management and remediation services | KPMG INC. | $12.5 |
| 2025-10-23 | Mera Cannabis Corp., Greenleaf Productions Inc., Avana Labs Inc., Cannaway Clinics Inc., Countryside Cannabis Corp. and Vivariant Laboratories Inc. | Ontario | Agriculture, forestry, fishing and hunting | ERNST & YOUNG INC. | $110 |
| 2025-10-17 | CHRISTENSON EQUITIES LTD. et. al | Alberta | Real estate and rental and leasing | ERNST & YOUNG INC. | $103 |
| 2025-10-17 | B+H Architects Corp. | Ontario | Professional, scientific and technical services | KSV RESTRUCTURING INC. | $37.8 |
| 2025-10-10 | Antler Creek Contracting Ltd. | British Columbia | Agriculture, forestry, fishing and hunting | CROWE MACKAY & COMPANY LTD | $13.9 |
| 2025-10-08 | Walgre Transport Inc. and 2793309 Ontario Ltd. | Ontario | Transportation and warehousing | GRANT THORNTON LIMITED | $46.9 |
Figure 1: Filings by regionFootnote *
| British Columbia: | 5 filings 29% |
| Alberta: | 4 filings 24% |
| Saskatchewan: | 0 filings 0% |
| Manitoba: | 0 filings 0% |
| Ontario: | 5 filings 29% |
| Quebec: | 2 filings 12% |
| Newfoundland & Labrador: |
0 filings 0% |
| Nova Scotia: | 1 filings 6% |
Filings by region
Description of Figure 1
This line graph presents the number of filings per quarter under the Companies’ Creditors Arrangement Act (CCAA), broken down by the East, Ontario and West Regions from the fourth quarter of 2023 to the fourth quarter of 2025. The note to the table explains that East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec; Ontario Region includes Ontario; and West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon.
The x-axis represents the quarters for the data points, starting at the fourth quarter of 2023 and continuing for each quarter until the fourth quarter of 2025.
The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 2 until it reaches 12. The legend on the right side of the chart shows that East Region is represented by a blue line with diamonds to mark data points; Ontario Region is represented by a purple line with squares for data points; and the West Region is represented by a green line with triangles for data points.
For the fourth quarter of 2023, the East Region had 8 filings, the West Region had 6 filings, and the Ontario Region had 7 filings.
For the first quarter of 2024, the East Region decreased to 4 filings, the West Region increased to 8 filings, and the Ontario Region dropped to 6 filings.
For the second quarter of 2024, the East Region decreased to 2 filings, the West Region dropped to 7 filings, and the Ontario Region increased to 7 filings.
For the third quarter of 2024, the East Region remained at 2 filings, the West Region remained at 7 filings, and the Ontario Region decreased to 2 filings.
For the fourth quarter of 2024, the East Region increased to 8 filings, the West Region decreased to 6 filings, and the Ontario Region increased to 8 filings.
For the first quarter of 2025, the East Region decreased to 7 filings, the West Region increased to 7 filings, and the Ontario Region decreased to 6 filings.
For the second quarter of 2025, the East Region decreased to 5 filings, the West Region decreased to 3 filings, and the Ontario Region increased to 7 filings.
For the third quarter of 2025, the East Region remained at 5 filings, the West Region increased to 6 filings, and the Ontario Region decreased to 4 filings.
For the fourth quarter of 2025, the East Region decreased to 3 filings, the West Region increased to 9 filings, and the Ontario Region increased to 5 filings.
To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the first quarter of 2025: British Columbia had 5 filings (29%), Alberta had 4 filings (24%), Ontario had 5 filings (29%), Nova Scotia had 1 filing (6%), Quebec had 2 filings (12%), Saskatchewan had 0 filings (0%), Manitoba had 0 filings, (0%), and Newfoundland & Labrador had 0 filings (0%).
East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec
Ontario Region includes Ontario
West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon
For more information, see Table 10: Total CCAA Proceedings Filed by Province in Insolvency statistics in Canada - Fourth Quarter 2025.
Figure 2: Filings by NAICS Footnote * economic sector
The Professional, Scientific, and Technical Services sector had the highest number of filings in the fourth quarter of 2025, with 3 filings.
Filings by NAICS economic sector
Description of Figure 2
This bar graph breaks down filings under the Companies’ Creditors Arrangement Act (CCAA) by economic sector as defined by the North American Industry Classification System (NAICS). The data is for the fourth quarter of 2025.
The x-axis represents the sectors which had filings in the fourth quarter of 2025. There are 11 sectors represented, each shown with a blue vertical bar. The 11 sectors represented in the fourth quarter of 2025 are as below:
- The Agriculture, Forestry, Fishing And Hunting had 2 filings.
- The Construction sector had 1 filing.
- The Wholesale trade sector had 2 filings.
- The Management of companies and enterprises sector had 1 filing.
- The Professional, scientific and technical services sector had 3 filings.
- The Mining, quarrying, and oil and gas extraction sector had 2 filings.
- The Real estate and rental and leasing sector had 2 filings.
- The Retail trade sector had 1 filing.
- The Transportation And Warehousing sector had 1 filing.
- The Administrative and support, waste management and remediation services sector had 1 filing.
- The Manufacturing sector had 1 filing.
The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 6.
[Text in margin] The Professional, Scientific, and Technical Services sector had the highest number of filings in the fourth quarter of 2025, with 3 filings.
[Footnote] NAICS categorizations are based on the primary economic activity of the company as reported by the Monitor.
For more information, see Table 11: CCAA Proceedings Filed by NAICS Economic Sector, Canada, in Insolvency statistics in Canada - Fourth Quarter 2025.
Recently closed filesFootnote *
| Company name | Sector | Monitor | Outcome | Duration of the proceeding (in days) | Liabilities (in millions) |
|---|---|---|---|---|---|
| Antibe Therapeutics Inc | Professional, scientific and technical services | DELOITTE RESTRUCTURING INC/RESTRUCTURATION DELOITTE INC | Terminated - no compromise or arrangement sanctioned by the court | 13 | 30.4 |
| Mernova Medicinal Inc. and Creso Canada Limited | Manufacturing | GRANT THORNTON LIMITED | Terminated - no compromise or arrangement sanctioned by the court | 168 | 29.6 |
| Medipure Pharmaceuticals Inc. and Medipure Holdings Inc. | Manufacturing | DELOITTE RESTRUCTURING INC/RESTRUCTURATION DELOITTE INC | Terminated - no compromise or arrangement sanctioned by the court | 75 | 15.4 |
| Humble & Fume Inc. | Wholesale trade | DELOITTE RESTRUCTURING INC/RESTRUCTURATION DELOITTE INC | Terminated - no compromise or arrangement sanctioned by the court | 654 | 13 |
| Freedom Cannabis Inc. | Wholesale trade | KPMG INC. | Terminated - no compromise or arrangement sanctioned by the court | 461 | 16 |
| Comark Holdings Inc. | Retail trade | ALVAREZ & MARSAL CANADA INC. | Terminated - no compromise or arrangement sanctioned by the court | 251 | 168 |
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