Insolvency Statistics in Canada — December 2022 (Highlights)

Read the report Insolvency Statistics in Canada — December 2022.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 18.4% in December 2022 compared to the previous month. Bankruptcies decreased by 17.7% and proposals decreased by 18.6%.

The total number of insolvencies in December 2022 was 13.8% higher than the total number of insolvencies in December 2021. Consumer insolvencies increased by 13.4%, while business insolvencies increased by 23.3%.

For the 12‑month period ending December 31, 2022, the total number of insolvencies increased by 11.9% in comparison to the 12‑month period ending December 31, 2021.

Consumer insolvencies for the 12‑month period ending December 31, 2022, increased by 11.2% in comparison to the 12‑month period ending December 31, 2021. Consumer bankruptcies decreased by 10.5%, while consumer proposals increased by 20.7%. The proportion of proposals in consumer insolvencies increased to 75.5% during the 12‑month period ending December 31, 2022, up from 69.5% during the 12‑month period ending December 31, 2021. For the 12‑month period ending December 31, 2022, consumer insolvency filings accounted for 96.7% of total insolvency filings.

Business insolvencies for the 12‑month period ending December 31, 2022, increased by 37.2% compared with the 12‑month period ending December 31, 2021. 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 — December 2022.