More than 56K businesses closed in June amid coronavirus fallout: StatCan

Statistics Canada says it recorded 56,296 business closures in June, an improvement from May but still 44 per cent more than in February before the COVID-19 pandemic struck in force in Canada.

It says the number of business closures across Canada in June was down 5.6 per cent compared with May.

The trend observed in June was observed in every province and territory except Quebec, which had a two per cent increase in business closures compared with the previous month.

There were also 52,723 business openings nationally in June, 33 per cent more than Statistics Canada recorded in May,

But the agency says only about one-fifth of all businesses that closed in March or April had reopened by June.

As a result, 14.1 of businesses that were active in February remain closed as of June.

Source: Read Full Article