Bankruptcies, proposals to renegotiate loan terms expected to rise in Q1

Signs are mounting that households and businesses are struggling to manage the rising cost of debt in Canada. Read more.

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Approximately 3,400 Canadian businesses filed for insolvency in 2022, said CAIRP, citing the latest statistics from the Office of the Superintendent of Bankruptcy, an increase from 2,480 insolvencies in 2021. The majority of insolvencies were bankruptcies and the remainder were proposals to renegotiate the terms of loans .

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