While the annual rate increased by 0.5 per cent, the month-over-month figures show a drop from 11,780 in March to 10,089 in April; continuing the downward trend.
There were decreases in insolvencies in almost every province with Saskatchewan posting an increase of 11 and 2 additional filings in the Northern Territories, although the overall numbers are among Canada’s lowest.
Among the provinces with the largest overall numbers of insolvency filings, Quebec saw a drop of more than 500 in April from the previous month with 3,411; there was also a drop of around 500 for Ontario to 3,239; Alberta was down 250 to 1,024; and BC was down by a similar level to 769.
Proposals continue to show an increased share of insolvency filings while bankruptcies are lower.
More market update:
There was a drop in the number of consumers filing bankruptcy or personal proposals in April, the latest month of data released by the Office of the Superintendent of Bankruptcy Canada.