Insolvency Statistics in Canada—November 2021

Read the report Insolvency Statistics in Canada—November 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.9% in November 2021 compared to the previous month. Bankruptcies increased by 8.3% and proposals increased by 9.2%.

The total number of insolvencies in November 2021 was 2.5% higher than the total number of insolvencies in November 2020. Consumer insolvencies increased by 2.3%, while business insolvencies increased by 8.1%.

For the 12month period ending November 30, 2021, the total number of insolvencies decreased by 8.9% in comparison to the 12month period ending November 30, 2020.

Consumer insolvencies for the 12month period ending November 30, 2021, decreased by 8.7% in comparison to the 12month period ending November 30, 2020. Consumer bankruptcies decreased by 18.2%, while consumer proposals decreased by 3.7%. The proportion of proposals in consumer insolvencies increased to 69.1% during the 12month period ending November 30, 2021, up from 65.5% during the 12month period ending November 30, 2020. For the 12month period ending November 30, 2021, consumer insolvency filings accounted for 97.4% of total insolvency filings.

Business insolvencies for the 12month period ending November 30, 2021, decreased by 15.4% compared with the 12month period ending November 30, 2020. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade and accommodation and food services. Finance and insurance; and administrative and support, waste management and remediation services experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in November 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—November 2021.