Insolvencies Soar in Canada, Alberta Stands Out

New data from Canada's Office of the Superintendent of Bankruptcy reveals that insolvencies continue to rise, with 13,254 Canadians and businesses filing for bankruptcy in June. This marks an 11.5% increase from the same month last year and more than double the number recorded in June 2020.

The numbers are particularly concerning when viewed over a longer period: during the 12 months ending in June 2026, Canada saw 150,505 insolvencies, up 5.3% from the previous year and just 670 filings below the record set in 2010.

While these figures don't necessarily indicate a shrinking economy, they do suggest that households and businesses are feeling significant financial pressure due to rising living costs, high borrowing rates, and mounting debt.