Business insolvencies shot up by more than 41% last year, as pandemic debts mount
Business insolvencies jumped by more than 41 per cent last year, according to data released Friday by Canada's top financial regulator for bankruptcies.
![Business insolvencies shot up by more than 41% last year, as pandemic debts mount](https://i.cbc.ca/1.5056755.1706892329!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_620/laws-taking-effect.jpg)
![When it comes to consumer bankruptcies, business is actually down — less people are filing now then they did before. But that could all change around the fall, when a huge spike is expected. Several credit cards are fanned out in a person's hand.](https://i.cbc.ca/1.5056755.1706892329!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_620/laws-taking-effect.jpg)
Business insolvencies jumped by more than 41 per cent last year, according to data released Friday by Canada's top financial regulator for bankruptcies.