Insolvency Statistics in Canada—September 2021 (br04552)

Highlights

Read the report Insolvency Statistics in Canada—September 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.3% in September 2021 compared to the previous month. Bankruptcies increased by 5.1% and proposals increased by 8.4%.

The total number of insolvencies in September 2021 was 2.3% lower than the total number of insolvencies in September 2020. Consumer insolvencies decreased by 2.1%, while business insolvencies decreased by 10.3%.

For the 12month period ending September 30, 2021, the total number of insolvencies decreased by 15.9% in comparison to the 12month period ending September 30, 2020.

Consumer insolvencies for the 12month period ending September 30, 2021, decreased by 15.8% in comparison to the 12month period ending September 30, 2020. Consumer bankruptcies decreased by 25.2%, while consumer proposals decreased by 10.5%. The proportion of proposals in consumer insolvencies increased to 68.4% during the 12month period ending September 30, 2021, up from 64.4% during the 12month period ending September 30, 2020. For the 12month period ending September 30, 2021, consumer insolvency filings accounted for 97.4% of total insolvency filings.

Business insolvencies for the 12month period ending September 30, 2021, decreased by 20.2% compared with the 12month period ending September 30, 2020. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade and accommodation and food services. Mining and oil and gas extraction; and finance and insurance experienced the biggest increase in insolvencies.

Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in September 2021. 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 2021.