Page 2 - Restructuring Professionals News Today

Surge reflects struggle with pandemic debt, higher interest rates

"Profits have plummeted and we've seen the stresses of CEBA loan repayments due, and perhaps other stresses coming into play," said Pedro Antunes, Chief Economist at the Conference Board of Canada.

Breaking News, Sports, Manitoba, Canada

OTTAWA - Business insolvencies rose 57.2 per cent in December compared with a year earlier, according to the Office of the Superintendent of Bankruptcy.

Business insolvencies jumped by more than 41 per cent last year, according to data released Friday by Canada's top financial regulator for bankruptcies.

Business insolvencies rose 57.2 per cent in December compared with a year earlier, according to the Office of the Superintendent of Bankruptcy.

Surge reflects struggle with pandemic debt, higher interest rates

With inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise.

OTTAWA — Canadian business insolvencies were up 41.8 per cent from a year earlier in the third quarter, surpassing pre-pandemic levels.

OTTAWA — Canadian business insolvencies were up 41.8 per cent from a year earlier in the third quarter, surpassing pre-pandemic levels.