Figure 11: CCAA Proceedings in Select Sectors (2023–2024) Figure 11: CCAA Proceedings in Select Sectors (2023–2024)
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Wholesale Trade Mining and Oil and Gas Extraction Manufacturing Retail Trade
In 2024, proceedings in the manufacturing sector continue to make up the single largest category of CCAA proceedings in Canada, with a total of 36 filings (see Figure 11). This has been the case since 2022, when a total of 12 proceedings and 45 proceedings were recorded in 2022 and 2023, respectively. In 2024, the manufacturing sector made up 30.8% of all CCAA proceedings. Canadian manufacturers, along with construction firms, are likely to face more business insolvencies due to a combination of Canada-U.S. trade tensions and domestic economic uncertainty. Tariffs adopted by both trade partners can lead to increased costs for raw materials and finished products, difficulty in planning and hedging against price fluctuations – all of which reduce profit margins and make Canadian goods less competitive in international markets.
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