Consumer and business bankruptcies soar following an end to government aid

The number of insolvencies filed by Canadian businesses in 2022 surged by 37.2 per cent compared with 2021, according to theThere were 3,402 business insolvencies last year, up from 2,480 in 2021 according to the federal regulator. In Ontario alone, insolvencies filed by businesses was up 47.8 per cent last year compared with the year before.

President of the Canadian Federation of Independent Business Dan Kelly says the numbers are extremely concerning for businesses across the country and it’s unlikely that insolvencies are going to slow down any time soon. Meanwhile, the number of insolvency filings from Canadian consumers jumped 11.2 per cent in 2022 compared with 2021. There were 100,184 consumer insolvencies filed in 2022 compared to 90,092 in 2021. 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.

Insolvencies actually declined during the lockdowns due to generous government aid, but the numbers are starting to rise rapidly now that the aid has been cut off.

I guess that is what happens you unnecessarily lockdown Canadians due to flu like pandemic Makes a lot of sense to me Ford and Trudeau did that !

Thank a liberal

The perpetrators should be jailed! Trudeau and Freeland!

Yep Canadians have never had it so good Not

It is going to jump exponentially this year

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Canadian business insolvencies up 37.2% in 2022, consumer insolvencies up 11.2%The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021 Great job, Trudeau 🙄 It’s like Trudeau is trying to kill Canada. Hopefully the majority of those are liberal voter's. You get what you voted for.
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