Quote:
Originally Posted by chemgear
Canadian Business Insolvencies Soar To Highest Level In Nearly 20 Years
 |
Quote:
Originally Posted by GGG
Is that the final affects of Covid debt or something else? Essentially did government supports artificially surpress insolvencies as can see by the decline during Covid and this is the end state of business that would have normally failed but didn’t catching up?
|
CEBA loans were due to be repaid on Jan 18, 2024. $30-40k for most businesses.
I'm guessing that was the legitimate nail in the coffin for a good chunk of businesses, but I bet there are a lot who simply wound down their corporation to avoid payment and will simply establish another one.
I never looked into the specific implications and I think/hope there are significant risks for anyone who has done it...but seeing all the ArriveCan #### in addition to our continued provincial buffoonery makes me wish I'd explored the idea more seriously instead of repaying it like a stupid ethical rube. But it probably would have been smarter to wind down several months ago or several months from now.