Thousands of Canadians File
Struggles Reach Breaking Point
Elevated for both individuals and businesses – The latest stats from the Office of the Superintendent of Bankruptcy (OSB) reveal that consumer insolvencies rose by 3.1% in May 2025 compared to April, with 12,004 filings recorded. This is slightly below the May 2024 figure (-1.6%), but filings over the past 12 months are 5% higher than the same period a year earlier.
In total, 57,875 Canadians filed for insolvency in the first five months of the year, 7.6% higher than the average during the same stretch pre-2020.
Newfoundland and Labrador posted the highest increases in consumer filings, up 16.6% year-over-year and 10.6% from April, while New Brunswick followed with a 9.1% year-over-year rise.
“Business insolvency levels may be lower month-to-month, but we’re not out of the woods, Inflation, unstable demand, and sector-specific challenges are keeping pressure on.”
Full Read:
- https://www.wealthprofessional.ca/news/industry-news/thousands-of-canadians-file-for-insolvency-as-struggles-reach-breaking-point/389673?hsmemberId=624931&tu=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_campaign=&utm_medium=20250710&_hsenc=p2ANqtz–luyXammHlHns1zhRLnIAa3gdr2cUUtWNF2u7RWYPKgQFY_ayRWSFHcWAe4QlPR_An9OvGznaPuYEq20DWdNcIUEL1xku8YrHEm5p0F1V_yE-L8dE&_hsmi=370690405&utm_content=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_source=