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"Profits have plummeted and we've seen the stresses of CEBA loan repayments due, and perhaps other stresses coming into play," said Pedro Antunes, Chief Economist at the Conference Board of Canada.

United kingdomPedro antunesChrystia freelandStephen tappCole burston gettyDan kellyCanadian federation of independent businessesOffice of the superintendent bankruptcyCanadian association of insolvencyNegotiations break down as both sides exchangeGetty imagesFinancial districtMinister chrystia freelandCanadian federationIndependent businessesChief economist