Highlights
Read the report Insolvency Statistics in Canada—September 2019.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 5.8% in September 2019 compared to the previous month. Bankruptcies increased by 5.0% and proposals increased by 6.3%.
The total number of insolvencies in September 2019 was 18.4% higher than the total number of insolvencies in September 2018. Consumer insolvencies increased by 19.3%, while business insolvencies decreased by 12.8%.
For the 12-month period ending September 30, 2019, the total number of insolvencies increased by 8.4% compared with the 12-month period ending September 30, 2018.
Consumer insolvencies for the 12-month period ending September 30, 2019, increased by 8.5% compared with the 12month period ending September 30, 2018. Consumer bankruptcies decreased by 1.8%, while consumer proposals increased by 17.0%. The proportion of proposals in consumer insolvencies increased to 59.3% during the 12month period ending September 30, 2019, up from 55.0% during the 12-month period ending September 30, 2018. For the 12-month period ending September 30, 2019, consumer insolvency filings accounted for 97.3% of total insolvency filings.
Business insolvencies for the 12-month period ending September 30, 2019, increased by 4.1% compared with the 12-month period ending September 30, 2018. The two sectors that registered the biggest increase in the number of insolvencies were professional, scientific and technical services; and other services (except public administration). Retail trade; and transportation and warehousing experienced the biggest decrease in insolvencies.
Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in September 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—September 2019.