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Canadian business insolvencies up 37.2% in 2022, consumer insolvencies up 11.2%

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The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021

Business bankruptcies totalled 2,621 for the year, up from 1,942, while proposals filed by businesses amounted to 781, up from 538 in 2021.

The federal regulator says the sectors that saw the biggest increase in insolvencies were accommodation and food services businesses and the construction industry. The sectors that saw the biggest drop were mining and oil and gas extraction, and finance and insurance.The consumer figures included 24,586 bankruptcies, down from 27,461 in the previous year, while proposals rose to 75,598 compared with 62,631 in 2021.

 

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Hopefully the majority of those are liberal voter's. You get what you voted for.

It’s like Trudeau is trying to kill Canada.

Great job, Trudeau 🙄

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 /  🏆 5. in JP

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