OTTAWA – Data released this week shows insolvencies in Canada are floating around levels not seen since the global financial crisis.
The Office of the Superintendent of Bankruptcies released new figures on Monday showing more than 13,000 insolvencies were filed in June, up 5.7 per cent compared to May and 11.5 per cent compared to a year ago.
The office releases monthly and quarterly reports on insolvencies, a term that encompasses both bankruptcies and proposals that can see consumers and businesses restructure their debts.
The majority of insolvencies filed in June were from consumers.
Charles St-Arnaud, chief economist at Servus Credit Union, said in a note to clients this week that high household debt and stagnating purchasing power have put pressure on Canadians’ finances in recent years.
He said insolvency rates have been volatile over the past year but appear to be stabilizing near levels last seen in 2009.
This report by The Canadian Press was first published Aug. 12, 2026.
