Read the report Insolvency Statistics in Canada — November 2023.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 5.1% in November 2023 compared to the previous month. Bankruptcies increased by 7.1% and proposals increased by 4.5%.
The total number of insolvencies in November 2023 was 24.4% higher than the total number of insolvencies in November 2022. Consumer insolvencies increased by 24%, while business insolvencies increased by 36.8%.
For the 12‑month period ending November 30, 2023, the total number of insolvencies increased by 23.2% in comparison to the 12‑month period ending November 30, 2022.
Consumer insolvencies for the 12‑month period ending November 30, 2023, increased by 22.7% in comparison to the 12‑month period ending November 30, 2022. Consumer bankruptcies increased by 5%, while consumer proposals increased by 28.6%. The proportion of proposals in consumer insolvencies increased to 78.6% during the 12‑month period ending November 30, 2023, up from 75% during the 12‑month period ending November 30, 2022. For the 12‑month period ending November 30, 2023, consumer insolvency filings accounted for 96.3% of total insolvency filings.
Business insolvencies for the 12‑month period ending November 30, 2023, increased by 38.3% compared with the 12‑month period ending November 30, 2022. Retail trade, Accommodation and food services and Construction registered the biggest increases in the number of insolvencies.
Read the report Insolvency Statistics in Canada — November 2023.