According to the federal Office of the Superintendent of Bankruptcy, 2,003 business insolvencies were filed from Jan. 1 to March 31 of this year. Of those, 1,599 were bankruptcies and 404 were proposals, which is a legal option to negotiate lower debt repayment with creditors.
The sector with the highest number of insolvencies was accommodation and food services, with 357, or about 18 per cent of the total. Other industries with a high number of insolvencies included construction , transportation and warehousing , retail and manufacturing .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business insolvencies spike in first quarter, consumer insolvencies also riseOTTAWA — Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.
Source: SooToday - 🏆 8. / 85 Read more »
Business insolvencies spike in first quarter, consumer insolvencies also riseOTTAWA — Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.
Source: PGCitizen - 🏆 65. / 51 Read more »
Business insolvencies in Canada spike in first quarter, consumer insolvencies also riseData from the Office of the Superintendent of Bankruptcy released Friday shows business insolvencies totalled 2,003, with 1,599 of those being bankruptcies
Source: globebusiness - 🏆 31. / 66 Read more »
Business insolvencies spike in first quarter, consumer insolvencies also riseOTTAWA — Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Business insolvencies spike in first quarter, consumer insolvencies also riseOTTAWA — Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent. Data from the ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Business insolvencies spike in first quarter, consumer insolvencies also riseBusiness insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.
Source: BNNBloomberg - 🏆 83. / 50 Read more »