Highlights
Read the report Insolvency Statistics in Canada—February 2022.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 13.1% in February 2022 compared to the previous month. Bankruptcies increased by 6.1% and proposals increased by 15.9%.
The total number of insolvencies in February 2022 was 0.6% lower than the total number of insolvencies in February 2021. Consumer insolvencies decreased by 1.6%, while business insolvencies increased by 37.3%.
For the 12month period ending February 28, 2022, the total number of insolvencies increased by 0.8% in comparison to the 12month period ending February 28, 2021.
Consumer insolvencies for the 12month period ending February 28, 2022, increased by 0.8% in comparison to the 12month period ending February 28, 2021. Consumer bankruptcies decreased by 9.9%, while consumer proposals increased by 6.1%. The proportion of proposals in consumer insolvencies increased to 70.2% during the 12month period ending February 28, 2022, up from 66.7% during the 12month period ending February 28, 2021. For the 12month period ending February 28, 2022, consumer insolvency filings accounted for 97.2% of total insolvency filings.
Business insolvencies for the 12month period ending February 28, 2022, increased by 3.5% compared with the 12month period ending February 28, 2021. The sectors that registered the biggest decrease in the number of insolvencies were real estate and rental and leasing, and retail trade. Transportation and warehousing, and construction experienced the biggest increase in insolvencies.
One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in February 2022. 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—February 2022.