Highlights
Highlights
Read the report Insolvency Statistics in Canada—November 2019.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 10.3% in November 2019 compared to the previous month. Bankruptcies decreased by 12.0% and proposals decreased by 9.1%.
The total number of insolvencies in November 2019 was 4.0% higher than the total number of insolvencies in November 2018. Consumer insolvencies increased by 4.4%, while business insolvencies decreased by 11.4%.
For the 12-month period ending November 30, 2019, the total number of insolvencies increased by 8.7% compared with the 12-month period ending November 30, 2018.
Consumer insolvencies for the 12-month period ending November 30, 2019, increased by 8.9% compared with the 12-month period ending November 30, 2018. Consumer bankruptcies decreased by 1.9%, while consumer proposals increased by 17.4%. The proportion of proposals in consumer insolvencies increased to 60% during the 12-month period ending November 30, 2019, up from 55.7% during the 12-month period ending November 30, 2018. For the 12-month period ending November 30, 2019, consumer insolvency filings accounted for 97.4% of total insolvency filings.
Business insolvencies for the 12-month period ending November 30, 2019, increased by 2.3% compared with the 12-month period ending November 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 construction experienced the biggest decrease in insolvencies.
Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in November 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—November 2019.