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ARTICLE · 01 DECEMBER 2021

The Calm Before The Insolvency Storm?

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Retail trade and accommodation and food services were sectors anticipated by many to face the most short-term hardship due to the pandemic.

CanadaInsolvency/Bankruptcy/Re-Structuring
David Bish
David Bish
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Retail trade and accommodation and food services were sectors anticipated by many to face the most short-term hardship due to the pandemic. But that hasn't translated to increased insolvency filings in these sectors: in the 12-month period ending August 31, 2021, these sectors registered significant decreases in the number of insolvencies. There are a number of factors to explain this trend (including, in some cases, businesses that have ceased operating without the commencement of formal insolvency proceedings). But these sectors still face significant headwinds going forward, and we anticipate for at least some businesses in these and other industries, challenging times characterized by continued significant uncertainty and volatility lie ahead in 2022.

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