This surge in Canadian bankruptcy filings, especially among small businesses, is deeply concerning. With such a significant increase in insolvency cases, coupled with the pressure small businesses face to repay pandemic loans, there’s a legitimate worry about Canada’s economic stability.
What is happening in Canada?
Canadian bankruptcy filings are skyrocketing with nearly 800 bankruptcy filings in January 2024 alone.
This comes after bankruptcy filings in 2023 jumped nearly 40% year-over-year.
Currently, the number of businesses filing for insolvency is at its… pic.twitter.com/QxhkisxOC0
— The Kobeissi Letter (@KobeissiLetter) March 18, 2024
In the US ain’t better:
Here is something that will get people freaked out:
Bankruptcy filings are aggressively moving higher pic.twitter.com/cUjcns7E2n
— Bravos Research (@bravosresearch) January 28, 2024
Global corporate #defaults have surged to their highest level since the Global Financial Crisis.
Global corporate #defaults have surged to their highest level since the Global Financial Crisis. 📉📈 pic.twitter.com/ND4LIUvoNs
— ICEBERG FINANCIAL (@iceberg_fin) March 18, 2024