Highlights
Read the report Insolvency Statistics in Canada—August 2019.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.6% in August 2019 compared to the previous month. Bankruptcies decreased by 2.8% and proposals decreased by 2.4%.
The total number of insolvencies in August 2019 was 7.1% higher than the total number of insolvencies in August 2018. Consumer insolvencies increased by 7.7%, while business insolvencies decreased by 14.3%.
For the 12month period ending August 31, 2019, the total number of insolvencies increased by 6.9% compared with the 12month period ending August 31, 2018.
Consumer insolvencies for the 12month period ending August 31, 2019, increased by 6.9% compared with the 12month period ending August 31, 2018. Consumer bankruptcies decreased by 2.9%, while consumer proposals increased by 14.9%. The proportion of proposals in consumer insolvencies increased to 58.9% during the 12month period ending August 31, 2019, up from 54.8% during the 12month period ending August 31, 2018. For the 12-month period ending August 31, 2019, consumer insolvency filings accounted for 97.2% of total insolvency filings.
Business insolvencies for the 12month period ending August 31, 2019, increased by 6.5% compared with the 12month period ending August 31, 2018. The two sectors that registered the biggest increase in the number of insolvencies were other services (except public administration); and administrative and support, waste management and remediation services. Agriculture, forestry, fishing and hunting; and retail trade experienced the biggest decrease in insolvencies.
One Companies' Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in August 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—August 2019.