Canada Braces for Wave of Bankruptcies After Ending Pandemic Support

Canadian Finance Minister Chrystia Freeland said that roughly a fifth of the 900,000 small businesses that took out interest-free loans to survive the government’s civil rights abuses during the Wuhan coronavirus pandemic have not repaid the loans yet.
The Canadian Federation of Independent Businesses (CFIB) painted an even grimmer picture, estimating that 25 percent of borrowers have missed the January deadline.

Bankruptcies in Canada began surging as pandemic funding dried up in 2023, so the possibility that more than 200,000 small businesses might not repay their emergency loans is a bad omen for 2024.
CFIB and the Canadian Finance Ministry assured Reuters on Thursday …