Insolvency Statistics in Canada—April 2021 (br04485)

Highlights

Read the report Insolvency Statistics in Canada—April 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 13.3% in April 2021 compared to the previous month. Bankruptcies decreased by 9.4% and proposals decreased by 15.2%.

The total number of insolvencies in April 2021 was 19.5% higher than the total number of insolvencies in April 2020. Consumer insolvencies increased by 19.5%, while business insolvencies increased by 22.0%.

For the 12-month period ending April 30, 2021, the total number of insolvencies decreased by 33.4% compared with the 12-month period ending April 30, 2020.

Consumer insolvencies for the 12-month period ending April 30, 2021, decreased by 33.6% compared with the 12-month period ending April 30, 2020. Consumer bankruptcies decreased by 42.1%, while consumer proposals decreased by 28.5%. The proportion of proposals in consumer insolvencies increased to 66.9% during the 12-month period ending April 30, 2021, up from 62.1% during the 12-month period ending April 30, 2020. For the 12-month period ending April 30, 2021, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending April 30, 2021, decreased by 25.1% compared with the 12-month period ending April 30, 2020. The two sectors that registered the biggest decrease in the number of insolvencies were construction; and professional, scientific and technical services. Mining and oil and gas extraction; and arts, entertainment and recreation experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in April 2021. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.

Read the report Insolvency Statistics in Canada—April 2021.