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Bankruptcies

Key Highlights

  • A total of 29 cases of business bankruptcies with associated net liabilities of $113.6 million were recorded in Peel Region in the first half of 2019.
  • At 29 cases in January – June 2019, the level of business bankruptcy in Peel was at a multi-year low.
  • The associated net liability was at a multi-year high.

In January – June 2019, there were 29 cases of business bankruptcies, down from 39 cases recorded in the similar period of 2018.

At 29 cases, the number of business bankruptcies in Peel was at a multi-year low, continuing the general downward trend since recession related highs recorded a decade earlier.

Net Liability of Business Bankruptcies

The total net liability associated with the 29 cases of business bankruptcies recorded in January – June 2019 was $113.6 million, which was more than double of the total net liabilities recorded in January – June 2018.

The net liability per bankruptcy case amounted to approximately $3.9 million in the January – June 2019 period, up from $1.2 million per case observed in January – June 2018.