Insolvency Statistics in Canada—August 2021 (br04535)

Highlights

Read the report Insolvency Statistics in Canada—August 2021.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 6.2% in August 2021 compared to the previous month. Bankruptcies increased by 9.5% and proposals increased by 4.7%.

The total number of insolvencies in August 2021 was 8.1% higher than the total number of insolvencies in August 2020. Consumer insolvencies increased by 8.5%, while business insolvencies decreased by 5.6%.

For the 12month period ending August 31, 2021, the total number of insolvencies decreased by 18.8% compared with the 12month period ending August 31, 2020.

Consumer insolvencies for the 12month period ending August 31, 2021, decreased by 18.8% compared with the 12month period ending August 31, 2020. Consumer bankruptcies decreased by 28.2%, while consumer proposals decreased by 13.5%. The proportion of proposals in consumer insolvencies increased to 68.0% during the 12month period ending August 31, 2021, up from 63.9% during the 12month period ending August 31, 2020. For the 12month period ending August 31, 2021, consumer insolvency filings accounted for 97.4% of total insolvency filings.

Business insolvencies for the 12month period ending August 31, 2021, decreased by 19.9% compared with the 12month period ending August 31, 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.

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