The insolvency statistics for Ontario in April 2024 reveal a significant increase. Let’s break down the key points:
- Total Insolvencies: In April 2024, there were 960 bankruptcies and 3,717 proposals in Ontario. This represents a 6.5% increase compared to the previous month and a substantial 34.3% increase compared to April 2023.
- Consumer Insolvencies: Consumer insolvencies surged by 22.6% during the 12-month period ending April 30, 2024, compared to the same period in 2023. Specifically, consumer bankruptcies increased by 9.7%, while consumer proposals rose by 22.4%.
- Business Insolvencies: Business insolvencies also saw a significant spike, increasing by 60.2% during the same 12-month period.
- Ontario’s Impact: Ontario accounted for over one-third of all insolvencies across Canada during this time.
Insolvencies are absolutely soaring in Ontario.
960 bankruptcies and 3717 proposals in April alone.
That’s +6.5% in a month and +34.3% in a year.
Ontario accounts for over one third of insolvencies across the country.
This data screams imminent job losses. pic.twitter.com/3wdqsiJ81O
— red pill rick (@igetredpilled) June 14, 2024