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Number of businesses insolvencies in Canada 2019-2020

Published by Lucie Jeudy, Jul 6, 2021
In 2020, the number business insolvencies in Canada amounted to 2,786. Compared to the previous year, the number of bankruptcies and proposals experienced a decrease. Specifically, there were 2,108 bankruptcies and 678 proposals in Canada in 2020.

Number of businesses insolvencies in Canada in 2019 and 2020

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Source

Release date

February 2021

Region

Canada

Survey time period

2019 and 2020

Supplementary notes

Including both bankruptcies and proposals.
Bankruptcies: any business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposals: an offer to creditors to settle debts under conditions other than the existing terms, constituting a formal agreement under the Bankruptcy and Insolvency Act.

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