Highlights
Read the report Insolvency Statistics in Canada—December 2019.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 14.0% in December 2019 compared to the previous month. Bankruptcies decreased by 12.1% and proposals decreased by 15.2%.
The total number of insolvencies in December 2019 was 13.0% higher than the total number of insolvencies in December 2018. Consumer insolvencies increased by 13.4%, while business insolvencies increased by 2.4%.
For the 12-month period ending December 31, 2019, the total number of insolvencies increased by 9.3% compared with the 12-month period ending December 31, 2018.
Consumer insolvencies for the 12-month period ending December 31, 2019, increased by 9.5% compared with the 12-month period ending December 31, 2018. Consumer bankruptcies decreased by 1.2%, while consumer proposals increased by 17.9%. The proportion of proposals in consumer insolvencies increased to 60.3% during the 12-month period ending December 31, 2019, up from 56.0% during the 12-month period ending December 31, 2018. For the 12-month period ending December 31, 2019, consumer insolvency filings accounted for 97.4% of total insolvency filings.
Business insolvencies for the 12-month period ending December 31, 2019, increased by 2.8% compared with the 12-month period ending December 31, 2018. The three sectors that registered the biggest increase in the number of insolvencies were manufacturing; professional, scientific and technical services; and wholesale trade. Construction; accommodation and food services; and retail trade experienced the biggest decrease in insolvencies.
Seven Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in December 2019. 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—December 2019.