Thousands of Canadian businesses could go bust – report Thousands of small businesses in Canada face the risk of closing down after the government ended pandemic-era support last month and as interest rates are at a two-decade high, according to a Reuters report. A surge in bankruptcies, which already jumped by 38% in the first 11 months of 2023, would weigh on the country’s economic growth, lobby groups and economists cited by Reuters warn. Subscribe to RT