The post-pandemic economic recovery initially exceeded expectations. Now many Canadian businesses are struggling with rising interest rates, heightened residual debt loads, ongoing supply disruptions, a labour shortage, and threats of an economic downturn.
Consumers and business debtors are both faltering. Pressures are increasing on small and medium-sized enterprises (SMEs) as Canada Emergency Business Account (CEBA) loans or other pandemic-related debts become due. Leaders and decision makers at businesses that received support during the COVID-19 pandemic must now prepare to make difficult decisions about the best path forward for their business.
Following is a summary of consumer and corporate insolvency findings along with the war…
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