Over 56,000 business closures reported in June: StatsCan

Statistics Canada says it recorded 56,296 business closures in June.

That’s an improvement from May but still 44 per cent more than in February this year, before the COVID-19 pandemic.

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

But 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.