Business Insolvencies Leap Higher in January From a Year Earlier, Led by Bankruptcies

A sign on a shop window indicates the store is closed in Ottawa, on Mar. 23, 2020. The Canadian Press/Adrian Wyld

Business insolvencies more than doubled in January compared with a year earlier as they also surpassed pre-pandemic levels for the month.

The Office of the Superintendent of Bankruptcy says there were 759 business insolvencies in January, up 42.4 percent from December and up 129.3 percent from January 2023.