Insolvency Statistics in Canada—June 2022 (br04689)

Highlights

Read the report Insolvency Statistics in Canada—June 2022.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 6.4% in June 2022 compared to the previous month. Bankruptcies increased by 2.9% and proposals increased by 7.7%.

The total number of insolvencies in June 2022 was 20.1% higher than the total number of insolvencies in June 2021. Consumer insolvencies increased by 19.6%, while business insolvencies increased by 35.9%.

For the 12month period ending June 30, 2022, the total number of insolvencies increased by 1.5% in comparison to the 12month period ending June 30, 2021.

Consumer insolvencies for the 12month period ending June 30, 2022, increased by 1.1% in comparison to the 12month period ending June 30, 2021. Consumer bankruptcies decreased by 14.7%, while consumer proposals increased by 8.8%. The proportion of proposals in consumer insolvencies increased to 72.4% during the 12month period ending June 30, 2022, up from 67.3% during the 12month period ending June 30, 2021. For the 12month period ending June 30, 2022, consumer insolvency filings accounted for 97.0% of total insolvency filings.

Business insolvencies for the 12month period ending June 30, 2022, increased by 14.6% compared with the 12month period ending June 30, 2021. The sectors that registered the biggest decreases in the number of insolvencies were mining and oil and gas extraction, and finance and insurance. Construction, and transportation and warehousing experienced the biggest increases in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in June 2022. Please refer to the CCAA Records List for additional details.

Read the report Insolvency Statistics in Canada—June 2022.