Insolvency Statistics in Canada—September 2022 (Highlights)

Read the report Insolvency Statistics in Canada—September 2022.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 3.1% in September 2022 compared to the previous month. Bankruptcies increased by 1.0% and proposals increased by 3.8%.

The total number of insolvencies in September 2022 was 22.5% higher than the total number of insolvencies in September 2021. Consumer insolvencies increased by 22.1%, while business insolvencies increased by 37%.

For the 12‑month period ending , the total number of insolvencies increased by 6.5% in comparison to the 12‑month period ending .

Consumer insolvencies for the 12‑month period ending , increased by 5.9% in comparison to the 12‑month period ending . Consumer bankruptcies decreased by 12.4%, while consumer proposals increased by 14.3%. The proportion of proposals in consumer insolvencies increased to 73.8% during the 12‑month period ending , up from 68.4% during the 12‑month period ending . For the 12‑month period ending , consumer insolvency filings accounted for 96.9% of total insolvency filings.

Business insolvencies for the 12‑month period ending , increased by 29.7% 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—September 2022.