In 2023, the number business insolvencies in Canada amounted to 4,613. Compared to the previous year, the number of bankruptcies and proposals experienced an increase. Specifically, there were 2,577 bankruptcies and 759 proposals in Canada in 2022.
Number of businesses insolvencies in Canada from 2019 to 2023
Characteristic
Bankruptcies
Proposals
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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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Innovation, Science and Economic Development Canada. (January 5, 2024). Number of businesses insolvencies in Canada from 2019 to 2023 [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. "Number of businesses insolvencies in Canada from 2019 to 2023." Chart. January 5, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. (2024). Number of businesses insolvencies in Canada from 2019 to 2023. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/
Innovation, Science and Economic Development Canada. "Number of Businesses Insolvencies in Canada from 2019 to 2023." Statista, Statista Inc., 5 Jan 2024, https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/
Innovation, Science and Economic Development Canada, Number of businesses insolvencies in Canada from 2019 to 2023 Statista, https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/ (last visited September 01, 2024)
Number of businesses insolvencies in Canada from 2019 to 2023 [Graph], Innovation, Science and Economic Development Canada, January 5, 2024. [Online]. Available: https://www.statista.com/statistics/1227214/annual-number-of-businesses-insolvencies-in-canada/