Insolvency Statistics in Canada—December 2021

Highlights

Read the report Insolvency Statistics in Canada—December 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 15.7% in December 2021 compared to the previous month. Bankruptcies decreased by 15.7% and proposals decreased by 15.7%.

The total number of insolvencies in December 2021 was 6.7% lower than the total number of insolvencies in December 2020. Consumer insolvencies decreased by 7.7%, while business insolvencies increased by 26.7%.

For the 12month period ending December 31, 2021, the total number of insolvencies decreased by 6.7% in comparison to the 12month period ending December 31, 2020.

Consumer insolvencies for the 12month period ending December 31, 2021, decreased by 6.6% in comparison to the 12month period ending December 31, 2020. Consumer bankruptcies decreased by 16.5%, while consumer proposals decreased by 1.5%. The proportion of proposals in consumer insolvencies increased to 69.5% during the 12month period ending December 31, 2021, up from 65.9% during the 12month period ending December 31, 2020. For the 12month period ending December 31, 2021, consumer insolvency filings accounted for 97.3% of total insolvency filings.

Business insolvencies for the 12month period ending December 31, 2021, decreased by 11.0% compared with the 12month period ending December 31, 2020. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade and accommodation and food services. Construction; and transportation and warehousing experienced the biggest increase in insolvencies.

Four Companies’ Creditors Arrangement Act (CCAA) proceeding were filed with the OSB in December 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—December 2021.