Loading ...Roughly 56,000 businesses missed a debt payment in the second quarter, according to a study released Tuesday by credit bureau Equifax Canada
Business insolvencies fall 23% — but they’re still 41% higher than a year ago
The report found that roughly 56,000 businesses missed a debt payment in the second quarter. The overall debt held by Canadian businesses reported to Equifax by lenders hit $33.8 billion in the quarter, a jump of 12.8 per cent. Mortgage debt shot up 28.2 per cent to $13.3 billion, while line of credit debt jumped 24.2 per cent to $2.1 billion. Credit card debt rose 16.9 per cent to $6 billion.