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S&S Activewear strengthens Canadian division with key leadership appointments

By
Mario Toneguzzi
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Source: S&S Activewear
Source: S&S Activewear

S&S Activewear, a leading technology-enabled distributor of apparel and accessories in North America, is reinforcing its commitment to Canada with significant investments in its Canadian division.

As part of this initiative, the company announced a new commercial structure and key leadership appointments, effective Feb. 1, 2025.

“To drive continued growth and enhance customer support, Craig Ryan has been appointed vice president of commercial Canada. In this newly developed role, Ryan will lead the Canadian market’s strategic direction, overseeing all sales operations and working closely with dedicated functional leaders. With a deep understanding of the Canadian apparel distribution industry, Ryan has served as vice president of sales at alphabroder since 2013 and played an integral role in the recent integration with S&S Activewear,” said the company in a news release.

Steven Clune
Steven Clune

The company said Steven Clune has been named national director of sales for Canada, reporting directly to Ryan. In this role, Clune will strengthen sales efforts nationwide, ensuring comprehensive coverage for the S&S product portfolio. With extensive industry expertise, he is well-positioned to support the sales team and enhance the customer experience for the region’s thousands of decorators, retail brands, merchandisers and more, it said.

“This is an exciting time for S&S Activewear in Canada,” Ryan said. “With this new structure, we are reinforcing our focus on the Canadian market and strengthening our ability to serve customers with the best products, service and support.”

In October 2024, S&S Activewear announced its acquisition of alphabroder and has since been integrating the two companies to deliver enhanced benefits for customers—including offering the same or increased credit limits, more product choices and deeper inventory as a direct result of the combination, noted the company.

Toby Whitmoyer
Toby Whitmoyer

“These investments in Canada are a great example of the benefits we’re already seeing from the S&S acquisition of alphabroder—and we expect to see similar advantages for our U.S. customers as well,” said Toby Whitmoyer, chief commercial officer at S&S Activewear. “By combining the strengths of both organizations, we’re enhancing our leadership structure, expanding our capabilities and driving greater value for our customers in this key market.”

Founded in 1988 and headquartered in Bolingbrook, Illinois, S&S Activewear is a leading technology-enabled distributor of apparel and accessories in the United States and Canada. S&S offers more than 80 brands, including basic garments to fashion-forward styles, with over 4 million square feet of warehouse space across North America. S&S services a broad range of customers through its nationwide network, including retail brands, e-commerce companies, garment decorators, promotional products distributors, entertainment merchandisers, lifestyle brands and web-based platforms for apparel customization.

KINTON RAMEN to open new Markham location

By
Mario Toneguzzi
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Source: KINTON RAMEN
Source: KINTON RAMEN

KINTON RAMEN has announced the grand opening of its newest location, KINTON RAMEN Markville, on February 15.

This expansion strengthens the brand’s presence in the Greater Toronto Area (GTA), meeting the growing demand for authentic Japanese cuisine across the province, the company said in a news release.

Conveniently located at 5000 Highway 7 inside CF Markville Shopping Centre, the restaurant is currently in its soft opening phase. Operating from 11 a.m. to 10 p.m., these reduced hours allow staff to settle in and prepare for the upcoming grand opening celebration, it said.

Karalyn White
Karalyn White

“The GTA was home to our very first KINTON RAMEN, so opening yet another location here is always meaningful to us,” said Karalyn White, Senior Director of Franchising at KINKA FAMILY, the parent company that owns and operates KINTON RAMEN. “We’re excited to bring an authentic ramen experience to shoppers at CF Markville and the broader York Region. The continued demand for our offerings in the GTA is truly exciting.”

With more than 40 locations across Canada and the United States, the brand has built a loyal following in major cities like Toronto, Vancouver and Montreal by combining innovative ramen creations with traditional recipes. 

KINTON RAMEN began franchising in 2021 – nearly a decade after launching its first restaurant in downtown Toronto in 2012. Its mission is to make its unique dining experience accessible to all.

“This remarkable growth speaks to the rising demand for authentic ramen across North America, with the new Markham location as a testament to that enthusiasm.

It was one of Toronto’s first Japanese ramen restaurants.

“Led by Executive Chef Aki Urata and our team of professional ramen chefs, KINTON RAMEN strives to offer guests an extraordinary dining experience every time. KINTON RAMEN invites guests to taste their exceptional ramen bowls right down to the last drop, using the freshest ingredients to make the best quality noodles and broths,” said the company.

Founded in 2009, KINKA FAMILY is a full-service international hospitality group. Since then, the company has come to be recognized as Canada’s largest Japanese restaurant group. KINKA FAMILY owns and operates a diverse portfolio of restaurants and cafés in Toronto, Montreal, Vancouver, Chicago, and New York. Included are KINKA IZAKAYA, KINTON RAMEN and JaBistro.

Shine Beyond Your Company: Enter the 2025 Excellence in Retailing Awards

By
Craig Patterson
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2024 brought its share of challenges, but your achievements stood out as a testament to resilience, creativity, and adaptability. Now, as we look ahead to 2025, it’s time to take your success beyond your company and share it with the entire retail industry

Retail Council of Canada’s (RCC) Excellence in Retailing Awards is ultimate stage for recognizing the innovation and dedication driving the retail sector forward. It’s a chance to honour your team’s achievements, inspire your peers, and showcase the vision shaping the future of retail.

Why It Matters
The Excellence in Retailing Awards offers a powerful way to amplify your efforts, motivate your team, and position your work as a benchmark for success in the industry.

Award Categories 
There’s a category to spotlight every aspect of retail excellence. Whatever your focus, your accomplishments deserve to be celebrated: 

  • E-commerce Experience
  • Environmental Leadership
  • Health, Safety & Wellness
  • In-Store Experience & Design
  • In-Store Merchandising
  • Loss Prevention
  • Omni-Channel
  • Philanthropic Leadership
  • Pop-up Experience and Design
  • Retail Marketing
  • Supply Chain Innovations
  • Talent Development

How to Apply –Register by March 14, 2025
Time is of the essence! Submit your registration by March 14, 2025 to secure your chance at recognition. Getting started is simple:

  1. Visit the Excellence in Retailing Awards page to explore the categories.
  2. Register your submission here.

Let 2025 be the year your innovation and hard work take center stage. Celebrate the difference you’ve made and inspire what’s next in retail.

Partner content. To work with Retail Insider, contact Craig Patterson at craig@retail-insider-com

Canadian Retail News From Around The Web For February 5, 2025

By
Retail Insider
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Canadian Retail News From Around The Web

News at a Glance

Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.

Trump’s pause on tariff threats not stopping retailer and consumer shift to Canadian goods (Global)

From oranges to booze, here’s where a trade war with the U.S. will hurt Canadians in their wallets (CBC)

With Canada-U.S. tariffs delayed, should you Buy Canadian? (BNN)

Your shopping list: Buy Canada, Bye America (Globe & Mail)

Canada groceries: Wheat price is dropping, so why is cereal still so expensive? Expert explains hidden costs (Yahoo)

Beer Store has shuttered over 20 locations in Ontario (Daily Hive)

Halifax Walmart reopens more than three months after in-store death of employee (Toronto Star)

Sundre liquor store spotlights Canadian products as U.S. tariffs paused (The Albertan)

N.B. Liquor won’t buy U.S. alcohol, even with tariff delay (CBC)

Many Montrealers changing their shopping habits as trade war with U.S. looms (Montreal Gazette)

Metro apologizes after ‘Product of Canada’ signage error (Global)

Edmonton banning sale of knives in convenience stores (CityNews)

CWENCH Hydration™ Strengthens its Retail Footprint in Western Canada with Placement in 75 Locations of London Drugs (BusinessWire)

Amazon Faces Boycott for Closing Quebec Warehouses

By
Maya Johnson
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Amazon Canada office in Toronto - Photo by Dustin Fuhs

Amazon is facing growing backlash in Quebec following its January 2025 decision to shutter all seven of its warehouses in the province. The closures, set to unfold over the next two months, will eliminate approximately 4,500 jobs, including full-time positions and subcontractors.

The Confédération des syndicats nationaux (CSN), Quebec’s prominent labour federation, has responded by calling for a public and governmental boycott of Amazon. CSN President Caroline Senneville described Amazon’s move as a clear attempt to stifle unionization efforts and avoid negotiating its first North American collective agreement. “There is no doubt that the closings announced today are part of an anti-union campaign against CSN and Amazon employees,” Senneville stated.

Unionization Efforts and Controversy

The controversy arises from Amazon’s recent labour history in Quebec. In May 2024, workers at an Amazon warehouse in Laval made history by successfully unionizing, marking the company’s first unionized warehouse in Canada. Less than a year later, Amazon announced the closure of its Quebec facilities, sparking accusations that the move is retaliatory.

CSN alleges that Amazon’s decision directly undermines union activities, violating provisions of Quebec’s Labour Code designed to protect workers’ rights to organize. The union plans to pursue legal action against Amazon, arguing that the closures constitute illegal obstruction of unionization efforts.

Amazon’s Response

Amazon has firmly denied these allegations. The company claims the closures are purely operational, aimed at reverting to a third-party delivery model similar to its pre-2020 logistics structure. According to Amazon, this shift is intended to optimize efficiency and deliver long-term cost savings for customers. The company insists the decision followed a comprehensive review of its Quebec operations and is not connected to recent labour developments.

“Our focus remains on providing the best service to our customers while maintaining operational efficiency,” Amazon stated, dismissing claims that the closures are linked to unionization.

The decision has drawn sharp criticism from political leaders. François-Philippe Champagne, Canada’s Minister of Innovation, Science, and Industry, expressed disappointment, describing Amazon’s move as “inconsistent with its expressed interest in being a leader and strategic partner within Canada’s industrial economy.” Minister Champagne has reached out to Amazon’s Canadian leadership to discuss the matter further.

Legal experts suggest that the CSN’s lawsuit could mirror historical cases, such as Walmart’s 2005 closure of its Jonquière, Quebec store following a successful union drive. That case led to prolonged legal battles and heightened scrutiny over corporate anti-union practices in Canada.

Broader Implications for Labour Rights

Amazon’s exit from Quebec raises questions about the state of labour rights in Canada, particularly concerning multinational corporations. The case highlights the ongoing tension between corporate strategies aimed at operational efficiency and workers’ rights to organize and bargain collectively.

The CSN’s call for a boycott extends beyond Amazon’s direct operations. The union is urging all levels of government, public agencies, and private entities to terminate contracts with Amazon and its subsidiaries, emphasizing the broader economic and ethical stakes involved.

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Flow Water Teams Up with José Bautista 

By
Anita Mehra
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José Bautista. Photo: Toronto Blue Jays

Flow Beverage Corp. has announced a strategic partnership with Toronto Blue Jays legend José Bautista. As Flow approaches its 10th anniversary, the collaboration is set to enhance the company’s visibility, retail footprint, and consumer demand through high-impact marketing and athlete-backed credibility.

Bautista joins Flow as a Strategic Advisor and investor, bringing his renowned high-performance mindset to the company’s marketing and media strategy. This move aligns with Flow’s mission to cater to achievement-oriented consumers seeking clean-label, functional hydration in an increasingly competitive beverage market.

Aligning with Elite Performance

Flow’s partnership with Bautista underscores the brand’s commitment to excellence, both in product quality and brand positioning. Bautista, a six-time MLB All-Star and three-time Silver Slugger Award winner, embodies the peak performance and discipline that resonate with Flow’s target audience. His involvement is expected to strengthen Flow’s appeal among active consumers and sports enthusiasts, reinforcing the brand’s image as a trusted hydration choice for high achievers.

Nicholas Reichenbach, Founder and CEO of Flow

“José’s commitment to excellence in training, lifestyle, and recovery aligns strongly with Flow’s achievement-oriented consumers,” said Nicholas Reichenbach, Founder and CEO of Flow. “Our newly innovated brand emphasizes the superior mineral content and hydration benefits of Flow Mineral Spring Water. We believe people like José understand our value proposition and the positive impact superior hydration can have on performance.”

Bautista’s Impact on Flow’s Growth Strategy

Beyond lending his name, Bautista is actively involved in shaping Flow’s brand strategy. His role as Strategic Advisor will influence marketing initiatives designed to boost consumer engagement and retail presence. Additionally, Bautista’s participation in Flow’s recent private placement solidifies his long-term commitment, granting him ownership in the company.

“Joining Flow as a strategic advisor and investing in the company was an easy decision for me,” said Bautista in a statement. “As a passionate consumer of Flow, I appreciate its essential minerals and electrolytes, which provide superior hydration benefits for athletes. It’s not just about quenching thirst—it’s about fueling the body to perform at its best.”

Photo: Flow Hydration

Sustainability at the Core

This partnership comes as Flow continues to prioritize sustainability across its operations. Since its founding in 2014, Flow has been dedicated to reducing environmental impact through sustainable sourcing and eco-friendly packaging. As a B-Corp Certified company with an impressive score of 126.5, Flow remains committed to its mission of “bringing wellness to the world through the positive power of water.”

Flow offers a diversified range of health-focused beverage products, including original mineral spring water, award-winning organic flavours, and sparkling mineral spring water. Each product is rich in naturally occurring electrolytes and essential minerals, available in various sizes from 300 ml to 1 litre.

About Flow

Flow is one of North America’s fastest-growing premium water companies. With a strong presence in Canada and the United States, Flow products are available through major retailers and online at flowhydration.com. 

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L’OCA Market Opens Second Store in Edmonton

By
Craig Patterson
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L'OCA Quality Market in Edmonton. Photo: L'OCA Quality Market

L’OCA Quality Market, the Alberta-based specialty grocery chain, has opened its second location and first in Edmonton. This opening marks a milestone in its rapid expansion since its debut in Sherwood Park in May 2024. The new Edmonton store, located at 9106 142 Street NW, brings L’OCA’s commitment to high-quality, locally-sourced products and exceptional customer service to the Parkview community.

Continuing a Legacy: From Andy’s IGA to L’OCA Quality Market

The new Edmonton location occupies the former site of Andy’s IGA, a community staple for decades. “Andy’s IGA had been here since, like, 1960,” said Ben Cochrane, Partner at L’OCA Market. “Andy finally retired to play more golf, and we had the chance to take over the store and bring L’OCA here.”

Ben Cochrane

In honour of the store’s history, L’OCA has preserved beloved elements from Andy’s IGA, including the much-loved horse statue that has been a local icon for decades. 

“The horse has been here since the 60s,” Cochrane said. “I used to ride it as a kid when visiting my grandparents in the neighbourhood. It’s part of the community’s fabric, and we’re proud to keep it right where it belongs.”

What’s Inside: Artisanal Offerings with a Local Touch

While the Edmonton location is smaller at approximately 21,000 square feet—less than half the size of the flagship Sherwood Park store—it maintains the brand’s hallmark features. 

“We’ve got all our pre-mades, a massive selection of grocery items, a full-service butcher, local produce sourced as close to home as possible, and a great deli counter with Alberta dairy,” Cochrane shared.

The store also features fresh fast food options, including an on-demand pizzeria and a deli sandwich station, complemented by a cozy café serving fresh coffee and house-made gelato. Notably, the Edmonton store retains and expands upon Andy’s cherished kosher section. 

“The kosher section here is the biggest difference from our Sherwood Park store. We took Andy’s foundation and expanded it, ensuring it remains a cornerstone for the community,” Cochrane explained.

Produce area in the new L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market
Cafe area in the new L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market

A Different Vibe: What Sets It Apart

Unlike the Sherwood Park location, which boasts a wine cellar and in-house restaurants like PYRO Pizzeria & Rotisserie and ORO Trattoria, the Edmonton store focuses on core grocery offerings with an artisanal twist. Despite these differences, Cochrane emphasized the consistent quality across both stores. 

“Everything is done with as many local ingredients as we can by Michelin-trained chefs, from butter chicken to freshly baked bread,” he said.

The Sherwood Park flagship, located at 340 Baseline Road, spans 48,000 square feet and was extensively renovated from its previous life as a RONA store. It set the standard for L’OCA’s commitment to quality, community, and culinary excellence, a model the Edmonton store follows closely.

L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market
Butcher and Kosher goods at L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market

The Human Touch: Staff and Community Connection

L’OCA’s dedication to community extends beyond its products. The Edmonton store retained about 95% of Andy’s original staff, ensuring continuity and familiarity for long-time customers. 

“A key priority was keeping as many of the original team members as possible,” Cochrane noted. “They’re part of the store’s history and bring invaluable experience.”

The staff’s professionalism and product knowledge are evident at both locations. “We have a strong training program, but the passion and dedication of our team members truly set us apart,” Cochrane said.

L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market
L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market

Building the L’OCA Brand: A Focus on Quality

Discussing L’OCA Market’s origins, Cochrane highlighted the brand’s mission to “do food differently.”

“Food is about community, connection, and sharing with family and friends. We wanted to bring those values back into grocery shopping,” he explained.

L’OCA offers over 500 private-label products made in-house, from butter chicken to artisanal bread, crafted with local ingredients by Michelin-trained chefs.

Local investors have also played a significant role in supporting L’OCA’s growth. “We’ve been fortunate to have the backing of local investors who believe in our vision and the value we bring to the community,” Cochrane noted.

The famous historic horse statue, and historic IGA fliers at L’OCA Quality Market in Edmonton. Photo: L’OCA Quality Market

Growth and the Road Ahead

L’OCA Quality Market’s growth has been swift and strategic. “Two stores in 266 days,” Cochrane said. “There’s no end in sight. We’re eyeing more locations in Edmonton, and maybe even Calgary down the road.”

The brand’s success is rooted in its focus on local sourcing and community connections. “Food is about community, connection, and tradition,” Cochrane reflected. “Our goal has always been to do food differently—bringing people together through simple, fresh, natural ingredients.”

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Sleep Country innovates with multi-brand stores to revolutionize Canadian retail landscape

By
Mario Toneguzzi
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Source: Sleep Country
Source: Sleep Country

Sleep Country has unveiled a groundbreaking retail concept in South Edmonton Common, marking the company’s first multi-brand store combining Silk & Snow and Endy. 

It’s part of a bigger strategy to combine different banners across the country as well as expanding its footprint including more Sleep Country and The Rest stores in Canada.

Stewart Schaefer

“We’ve had that (Sleep Country) store in the Edmonton mall forever. It’s always been a great store for us,” said Stewart Schaefer, President and CEO of Sleep Country Canada. The innovative approach arose serendipitously when two neighboring stores closed, creating an opportunity for Sleep Country to test a multi-brand format. “The landlord reached out, and I said, well, interestingly enough, I wanted to test a combo store. So let’s do it out there.”

Sleep Country operates under the retailer banners; Sleep Country Canada, Dormez-vous, The Rest, Endy, Silk & Snow, Hush and Casper Canada with more than 300 locations.

Expanding Consumer Choice in Brick-and-Mortar

This new retail strategy aims to integrate Sleep Country’s online direct-to-consumer (DTC) brands into tactile shopping environments. “We’re testing our DTC concept, which just seems to be going really well,” Schaefer explained. “We’re choosing locations if the opportunity presents itself because you have to have the real estate near some of our best stores.”

The Edmonton location houses Silk & Snow and Endy while maintaining a separate Sleep Country store nearby. 

“So when a consumer shops, it makes it a lot easier.”

Source: Sleep Country
Source: Sleep Country

This setup reflects Schaefer’s vision of mimicking online shopping dynamics within physical stores. “When you go online and search something, right away on Google it pops up one, two, and three choices. That’s now what I’m trying to do in a retail brick-and-mortar environment. Giving our customers as much choice. We’re agnostic. We want the customer to be happy. We don’t care which one of our brands that they shop at.”

Innovative Store Concepts Across Canada

The Edmonton store is part of a broader national rollout. “We’re testing right now in Halifax, a Casper and Endy combination,” Schaefer said. Additional concepts include a Silk & Snow and Hush store-within-a-store format in Montreal inside a Dormez-vous and a cluster of standalone Sleep Country, Casper, and Endy stores in Toronto’s CF Sherway Gardens Mall. Looking ahead, Vancouver will have Silk & Snow and Endy combination store in March.

Customer-Centric Approach Driving Success

By strategically locating these multi-brand stores near existing Sleep Country outlets, the company aims to provide consumers with seamless and abundant options. 

This approach resonates with consumers who appreciate the convenience of exploring diverse products under one roof. “Combining these stores close together just makes it even more of a choice for a consumer so that there’s no reason they can’t find what they need for their sleep needs within those stores.”

A Long-Term Perspective in a Timeless Industry

As Sleep Country celebrates its 30th anniversary, Schaefer remains optimistic about the future. 

“There’s six new locations that we’re going to be opening up across the country,” he said. “There’s probably be four to six new test stores of our digital brands.

“We just celebrated our 30th year anniversary. We’re in the world of sleep which is never going out of style and we don’t manage our business based on ups and downs and cycles. This is not a bullish or bearish bet on the economy. This is exactly what we’ve done for 30 years. Remember the cycle of someone buying a bed from us is once every eight to 10 years. We’re very long-term thinkers especially in the world of retail where fashion changes monthly or even quarterly.

“We’re here to stay and continue to do what we do best. We don’t look at the economic cycles.’

Ultra-Luxury with “The Rest”

Another exciting addition to Sleep Country’s portfolio is “The Rest,” a high-end concept targeting the top 1% of consumers. Located in Toronto’s Yorkdale Mall, this store features premium products, including beds priced between $5,000 and $20,000, crafted with materials like horsehair and alpaca wool. 

“As our business continues to evolve, Sleep Country is almost like the supermarket of all the different brands that you’re familiar with and you know . . . That’s how you should think of Sleep Country and Dormez-vous. Now there’s these fabulous digital brands that started in the digital world like Casper, Endy and Hush and those are a bit of a younger demographic but a combination of all different ages. A lot of people love shopping online but a lot of these customers have asked to test the product. So it’s really our customers who are asking for that,” said Schaefer.

“When you think of The Rest, that’s the top 1%. So far it’s going well. Maybe six to 10 stores in Canada (eventually). There will be one in Calgary, one in Edmonton, maybe two in Vancouver, one or two in Montreal and probably a couple in Toronto. That’s for the high-end consumer who wants just the extreme in luxury.”

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Lacoste unveils new boutique in Vancouver’s CF Pacific Centre

By
Mario Toneguzzi
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Source- Lacoste
Lacoste at CF Pacific Centre in Vancouver. Source- Lacoste

 Lacoste, the iconic brand and pioneer of fashion-sport, is opening its newest store at CF Pacific Centre located at 701 West Georgia St, Vancouver.  

“Located in the heart of downtown Vancouver, CF Pacific Centre is a premier shopping destination that attracts both locals and tourists alike. The new store offers an immersive experience into Lacoste’s lifestyle universe and features a wide range of products, including classic polo shirts, stylish outerwear, footwear, and accessories for men, women, and children,” said the retailer in a news release. 

The grand opening is Saturday, February 15 – Sunday, February 16. 

“Step into a world where classic style meets creativity and modern sophistication and discover the latest collections that embody the spirit of Lacoste. Enjoy exclusive customizations & delightful surprises that reflect Lacoste’s iconic heritage and commitment to quality,” said the retailer. 

Source- Lacoste
Lacoste at CF Pacific Centre in Vancouver. Source- Lacoste


 The company is established in 98 countries, throughout a network of 1100 shops.

The first store in Canada opened more than 25 years ago in Montreal.

The successful international brand was co-founded in France by tennis player René Lacoste. The chain known for Polo shirts sells men’s and women’s apparel, accessories, leather goods and sportswear.

“Founded by French tennis legend René Lacoste, four-time international champion and the word’s best player in 1926-1927, the Lacoste brand draws inspiration from sporting values of high standards, fair play and daring. We pass down these values through the generations and cultivate elegance as a way of being and inventing one’s life,” says the company on its website.

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Lacoste Launches New Global Concept Store Design in Canada

Consumer and Business insolvencies reached 15-Year high in 2024

By
Mario Toneguzzi
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Photo by Kaboompics.com
Photo by Kaboompics.com

Canada experienced its highest volume of consumer insolvencies in 15 years, surpassing levels not seen since the 2009 Great Recession, according to the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).

The data from the Office of the Superintendent of Bankruptcy (OSB) reveals that consumer insolvencies rose by 11.4% in 2024 compared to the previous year. This sharp increase amounts to 137,295 filings—over 14,000 more than in 2023—averaging about 375 insolvencies per day. The surge underscores the mounting financial pressures faced by many Canadians amid increasingly challenging economic conditions, said the association in a news release on Tuesday.

André Bolduc
André Bolduc

“The rise in consumer insolvencies last year highlights the severity of the financial pressures many Canadians are experiencing, exacerbated by rising living costs and economic instability,” said André Bolduc, Licensed Insolvency Trustee and Chair of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), the national voice on insolvency matters in Canada.

Consumer insolvencies increased 6.1% in the fourth quarter of 2024 compared to the same period in 2023, while declining modestly by 2.5% from the third quarter of 2024, said the report.

With many Canadians concerned about the impact of potential tariffs and upcoming mortgage renewals at higher interest rates, Bolduc warned that these factors could further strain household finances in 2025.

“The rising cost of living is putting increasing pressure on already stretched household budgets. At the same time, homeowners facing mortgage renewals this year may see significant increases in their monthly payments, leaving less room for essential expenses and debt repayment,” he said.

Business Insolvencies Surge 30% in 2024, Hitting a 15-Year High

The report said business insolvencies jumped significantly in 2024, with a total of 6,188 filings, up 28.6% from 2023. This marks the highest number of filings in 15 years, underscoring the financial challenges many businesses faced in an uncertain economic environment. About 1,400 more businesses filed in 2024 compared to the previous year. Business insolvencies remain 68.2% higher than they were pre-pandemic in 2019.

Compared to the previous quarter, business insolvencies remained stable in the fourth quarter, rising 1.5%. However, compared to the fourth quarter of 2023, business insolvencies decreased by 12.4%, explained the association.

It said some sectors were hit harder than others in 2024. The construction sector experienced the largest increase in the number of business insolvencies, rising by 205 filings compared to 2023, followed by the transportation and warehousing sector (+198) and the accommodation and food services sector (+163). The construction sector accounted for the largest share of insolvencies in 2024, at 14.3%.

“The record high number of filings last year shows that many businesses already face significant obstacles. Many have been struggling to stay afloat since the pandemic, grappling with ongoing pressures from high operational costs and weakened consumer spending,” added Bolduc.

“Rising production costs, supply chain disruptions, reduced consumer demand, and overall uncertainty are making it increasingly difficult for Canadian businesses to maintain financial stability, particularly for those reliant on cross-border trade or already facing significant strain. Small and medium-sized enterprises (SMEs) are especially vulnerable to tariff-driven price hikes and the loss of key export markets, as they often lack the financial flexibility to withstand these pressures.”

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