Highlights
Read the report Insolvency Statistics in Canada—January 2022.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.4% in January 2022 compared to the previous month. Bankruptcies decreased by 9.7% and proposals decreased by 0.7%.
The total number of insolvencies in January 2022 was 6.5% lower than the total number of insolvencies in January 2021. Consumer insolvencies decreased by 7.3%, while business insolvencies increased by 30.7%.
For the 12month period ending January 31, 2022, the total number of insolvencies decreased by 3.2% in comparison to the 12month period ending January 31, 2021.
Consumer insolvencies for the 12month period ending January 31, 2022, decreased by 3.2% in comparison to the 12-month period ending January 31, 2021. Consumer bankruptcies decreased by 13%, while consumer proposals increased by 1.8%. The proportion of proposals in consumer insolvencies increased to 69.7% during the 12month period ending January 31, 2022, up from 66.3% during the 12-month period ending January 31, 2021. For the 12month period ending January 31, 2022, consumer insolvency filings accounted for 97.3% of total insolvency filings.
Business insolvencies for the 12-month period ending January 31, 2022, decreased by 4.2% compared with the 12month period ending January 31, 2021. The sectors that registered the biggest decrease in the number of insolvencies were retail trade, wholesale trade, and arts, entertainment and recreation. Transportation and warehousing; and construction experienced the biggest increase in insolvencies.
One Companies' Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in January 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—January 2022.