Highlights / bankruptcy

Economy, Society

Canadians in financial crisis are on the rise

In 2019, 375 Canadians per day sought financial protection or debt restructuring Canadian consumer insolvencies jumped dramatically at the end of 2019 to the highest level in almost a decade. There were over 35,000 insolvencies filed in the last quarter» 

Economy, International, Society

This is the end: Another Canadian shopping tradition closes

Once upon a time, shoppers in Canada were spoiled with Canadian options. Giant department store chains, upscale and discount, were widespread. Now another of these familiar retail names will fade completely into history. The last two Zeller’s stores will close» 

Society

Anger at Sears prompts legal action, social media furor

Fury at the terms of the bankruptcy of the big retailer Sears Canada have spawned a social media furor and a legal motion. People took to the internet to call for a boycott after they learned the retailer was going» 

Economy, Politics, Society

Employer/employee contracts, when guarantees for workers are not guaranteed after all.

Giant retailer Sears Canada has filed for bankruptcy protection. In its efforts to restructure,  the firm will close dozens of its stores, and cut its staff by almost 3,000 people. Sears Canada had employed about 17.000 people, some 10, 500 of» 

Economy, Society

Income insecurity driving personal bankruptcies

People who file for bankruptcy in the province of Ontario are earning 41 per cent below the median salary and simply cannot meet their expenses, according to a recent report. And it seems their low revenues put them in difficulty»