Archived — Insolvency Statistics in Canada—July 2011

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Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

Definitions

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
Business:
Any commercial entity or organization other than an individual, or an individual who has incurred 50 percent or more of total liabilities as a result of operating a business.
Bankruptcy:
The state of a consumer or business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposal:
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.
NAICS:
North American Industry Classification System.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
July 2011 June 2011 July 2010 June 2011 to July 2011 July 2010 to July 2011 07-31-2011 07-31-2010 % Change
Newfoundland and Labrador 174 168 175 3.6 -0.6 2,281 2,596 -12.1
Bankruptcies 166 161 166 3.1 0.0 2,147 2,458 -12.7
Proposals 8 7 9 14.3 -11.1 134 138 -2.9
Prince Edward Island 47 61 45 -23.0 4.4 657 586 12.1
Bankruptcies 34 52 37 -34.6 -8.1 575 524 9.7
Proposals 13 9 8 44.4 62.5 82 62 32.3
Nova Scotia 339 418 414 -18.9 -18.1 4,998 5,405 -7.5
Bankruptcies 262 338 325 -22.5 -19.4 4,017 4,504 -10.8
Proposals 77 80 89 -3.8 -13.5 981 901 8.9
New Brunswick 298 350 303 -14.9 -1.7 3,624 3,927 -7.7
Bankruptcies 235 303 245 -22.4 -4.1 3,026 3,306 -8.5
Proposals 63 47 58 34.0 8.6 598 621 -3.7
Quebec 2,480 3,087 3,011 -19.7 -17.6 38,521 41,430 -7.0
Bankruptcies 1,794 2,265 2,294 -20.8 -21.8 28,123 31,595 -11.0
Proposals 686 822 717 -16.5 -4.3 10,398 9,835 5.7
Ontario 3,661 4,573 4,517 -19.9 -19.0 54,555 63,486 -14.1
Bankruptcies 1,924 2,398 2,686 -19.8 -28.4 29,342 40,676 -27.9
Proposals 1,737 2,175 1,831 -20.1 -5.1 25,213 22,810 10.5
Manitoba 161 212 214 -24.1 -24.8 2,446 2,918 -16.2
Bankruptcies 106 157 161 -32.5 -34.2 1,765 2,218 -20.4
Proposals 55 55 53 0.0 3.8 681 700 -2.7
Saskatchewan 188 181 206 3.9 -8.7 2,335 2,606 -10.4
Bankruptcies 118 112 127 5.4 -7.1 1,482 1,767 -16.1
Proposals 70 69 79 1.4 -11.4 853 839 1.7
Alberta 809 952 868 -15.0 -6.8 10,815 12,061 -10.3
Bankruptcies 549 665 653 -17.4 -15.9 7,866 9,364 -16.0
Proposals 260 287 215 -9.4 20.9 2,949 2,697 9.3
British Columbia 938 1,011 988 -7.2 -5.1 12,325 13,188 -6.5
Bankruptcies 650 678 739 -4.1 -12.0 9,017 10,268 -12.2
Proposals 288 333 249 -13.5 15.7 3,308 2,920 13.3
Northwest Territories 3 4 1 -25.0 200.0 45 48 -6.3
Bankruptcies 3 3 1 0.0 200.0 28 40 -30.0
Proposals 0 1 0 -100.0 17 8 112.5
Yukon 8 2 1 300.0 700.0 48 46 4.3
Bankruptcies 6 2 1 200.0 500.0 42 37 13.5
Proposals 2 0 0 6 9 -33.3
Nunavut 2 2 0 0.0 10 4 150.0
Bankruptcies 1 2 0 -50.0 9 3 200.0
Proposals 1 0 0 1 1 0.0
Canada 9,108 11,021 10,743 -17.4 -15.2 132,660 148,301 -10.5
Bankruptcies 5,848 7,136 7,435 -18.0 -21.3 87,439 106,760 -18.1
Proposals 3,260 3,885 3,308 -16.1 -1.5 45,221 41,541 8.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2011 June 2011 July 2010 June 2011 to July 2011 July 2010 to July 2011 07-31-2011 07-31-2010 % Change
Newfoundland and Labrador 173 165 175 4.8 -1.1 2,252 2,571 -12.4
Bankruptcies 165 158 166 4.4 -0.6 2,120 2,433 -12.9
Proposals 8 7 9 14.3 -11.1 132 138 -4.3
Prince Edward Island 46 60 43 -23.3 7.0 637 563 13.1
Bankruptcies 33 51 35 -35.3 -5.7 563 502 12.2
Proposals 13 9 8 44.4 62.5 74 61 21.3
Nova Scotia 334 406 402 -17.7 -16.9 4,845 5,250 -7.7
Bankruptcies 258 328 316 -21.3 -18.4 3,887 4,379 -11.2
Proposals 76 78 86 -2.6 -11.6 958 871 10.0
New Brunswick 293 346 296 -15.3 -1.0 3,559 3,821 -6.9
Bankruptcies 233 301 238 -22.6 -2.1 2,978 3,219 -7.5
Proposals 60 45 58 33.3 3.4 581 602 -3.5
Quebec 2,356 2,920 2,856 -19.3 -17.5 36,465 39,178 -6.9
Bankruptcies 1,703 2,143 2,171 -20.5 -21.6 26,595 29,974 -11.3
Proposals 653 777 685 -16.0 -4.7 9,870 9,204 7.2
Ontario 3,560 4,407 4,386 -19.2 -18.8 52,892 61,326 -13.8
Bankruptcies 1,846 2,260 2,579 -18.3 -28.4 28,020 38,838 -27.9
Proposals 1,714 2,147 1,807 -20.2 -5.1 24,872 22,488 10.6
Manitoba 157 208 212 -24.5 -25.9 2,379 2,836 -16.1
Bankruptcies 103 153 159 -32.7 -35.2 1,714 2,154 -20.4
Proposals 54 55 53 -1.8 1.9 665 682 -2.5
Saskatchewan 178 167 199 6.6 -10.6 2,184 2,435 -10.3
Bankruptcies 110 104 124 5.8 -11.3 1,380 1,654 -16.6
Proposals 68 63 75 7.9 -9.3 804 781 2.9
Alberta 790 919 833 -14.0 -5.2 10,443 11,581 -9.8
Bankruptcies 534 649 626 -17.7 -14.7 7,567 8,972 -15.7
Proposals 256 270 207 -5.2 23.7 2,876 2,609 10.2
British Columbia 916 986 969 -7.1 -5.5 12,080 12,859 -6.1
Bankruptcies 635 658 725 -3.5 -12.4 8,822 10,002 -11.8
Proposals 281 328 244 -14.3 15.2 3,258 2,857 14.0
Northwest Territories 3 4 1 -25.0 200.0 42 48 -12.5
Bankruptcies 3 3 1 0.0 200.0 28 40 -30.0
Proposals 0 1 0 -100.0 14 8 75.0
Yukon 7 2 1 250.0 600.0 46 43 7.0
Bankruptcies 5 2 1 150.0 400.0 41 37 10.8
Proposals 2 0 0 5 6 -16.7
Nunavut 2 2 0 0.0 10 4 150.0
Bankruptcies 1 2 0 -50.0 9 3 200.0
Proposals 1 0 0 1 1 0.0
Canada 8,815 10,592 10,373 -16.8 -15.0 127,834 142,515 -10.3
Bankruptcies 5,629 6,812 7,141 -17.4 -21.2 83,724 102,207 -18.1
Proposals 3,186 3,780 3,232 -15.7 -1.4 44,110 40,308 9.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2011 June 2011 July 2010 June 2011 to July 2011 July 2010 to July 2011 07-31-2011 07-31-2010 % Change
Newfoundland and Labrador 1 3 0 -66.7 29 25 16.0
Bankruptcies 1 3 0 -66.7 27 25 8.0
Proposals 0 0 0 2 0
Prince Edward Island 1 1 2 0.0 -50.0 20 23 -13.0
Bankruptcies 1 1 2 0.0 -50.0 12 22 -45.5
Proposals 0 0 0 8 1 700.0
Nova Scotia 5 12 12 -58.3 -58.3 153 155 -1.3
Bankruptcies 4 10 9 -60.0 -55.6 130 125 4.0
Proposals 1 2 3 -50.0 -66.7 23 30 -23.3
New Brunswick 5 4 7 25.0 -28.6 65 106 -38.7
Bankruptcies 2 2 7 0.0 -71.4 48 87 -44.8
Proposals 3 2 0 50.0 17 19 -10.5
Quebec 124 167 155 -25.7 -20.0 2,056 2,252 -8.7
Bankruptcies 91 122 123 -25.4 -26.0 1,528 1,621 -5.7
Proposals 33 45 32 -26.7 3.1 528 631 -16.3
Ontario 101 166 131 -39.2 -22.9 1,663 2,160 -23.0
Bankruptcies 78 138 107 -43.5 -27.1 1,322 1,838 -28.1
Proposals 23 28 24 -17.9 -4.2 341 322 5.9
Manitoba 4 4 2 0.0 100.0 67 82 -18.3
Bankruptcies 3 4 2 -25.0 50.0 51 64 -20.3
Proposals 1 0 0 16 18 -11.1
Saskatchewan 10 14 7 -28.6 42.9 151 171 -11.7
Bankruptcies 8 8 3 0.0 166.7 102 113 -9.7
Proposals 2 6 4 -66.7 -50.0 49 58 -15.5
Alberta 19 33 35 -42.4 -45.7 372 480 -22.5
Bankruptcies 15 16 27 -6.3 -44.4 299 392 -23.7
Proposals 4 17 8 -76.5 -50.0 73 88 -17.0
British Columbia 22 25 19 -12.0 15.8 245 329 -25.5
Bankruptcies 15 20 14 -25.0 7.1 195 266 -26.7
Proposals 7 5 5 40.0 40.0 50 63 -20.6
Northwest Territories 0 0 0 3 0
Bankruptcies 0 0 0 0 0
Proposals 0 0 0 3 0
Yukon 1 0 0 2 3 -33.3
Bankruptcies 1 0 0 1 0
Proposals 0 0 0 1 3 -66.7
Nunavut 0 0 0 0 0
Bankruptcies 0 0 0 0 0
Proposals 0 0 0 0 0
Canada 293 429 370 -31.7 -20.8 4,826 5,786 -16.6
Bankruptcies 219 324 294 -32.4 -25.5 3,715 4,553 -18.4
Proposals 74 105 76 -29.5 -2.6 1,111 1,233 -9.9
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
July 2011 June 2011 July 2010 June 2011 to July 2011 July 2010 to July 2011 07-31-2011 07-31-2010 % Change
Agriculture, Forestry, Fishing and Hunting 12 5 9 140.0 33.3 128 183 -30.1
Bankruptcies 9 5 6 80.0 50.0 83 136 -39.0
Proposals 3 0 3 0.0 45 47 -4.3
Mining and Oil and Gas Extraction 1 1 4 0.0 -75.0 38 64 -40.6
Bankruptcies 1 1 2 0.0 -50.0 25 48 -47.9
Proposals 0 0 2 -100.0 13 16 -18.8
Utilities 1 2 0 -50.0 12 12 0.0
Bankruptcies 1 1 0 0.0 9 12 -25.0
Proposals 0 1 0 -100.0 3 0
Construction 41 85 55 -51.8 -25.5 809 931 -13.1
Bankruptcies 36 62 46 -41.9 -21.7 650 749 -13.2
Proposals 5 23 9 -78.3 -44.4 159 182 -12.6
Manufacturing 51 45 34 13.3 50.0 544 629 -13.5
Bankruptcies 37 29 26 27.6 42.3 375 503 -25.4
Proposals 14 16 8 -12.5 75.0 169 126 34.1
Wholesale Trade 19 22 21 -13.6 -9.5 282 314 -10.2
Bankruptcies 14 15 16 -6.7 -12.5 221 249 -11.2
Proposals 5 7 5 -28.6 0.0 61 65 -6.2
Retail Trade 47 34 51 38.2 -7.8 683 803 -14.9
Bankruptcies 32 27 42 18.5 -23.8 533 667 -20.1
Proposals 15 7 9 114.3 66.7 150 136 10.3
Transportation and Warehousing 23 34 17 -32.4 35.3 333 491 -32.2
Bankruptcies 19 30 17 -36.7 11.8 276 399 -30.8
Proposals 4 4 0 0.0 57 92 -38.0
Information and Cultural Industries 5 8 6 -37.5 -16.7 81 96 -15.6
Bankruptcies 3 7 5 -57.1 -40.0 51 71 -28.2
Proposals 2 1 1 100.0 100.0 30 25 20.0
Finance and Insurance 3 14 9 -78.6 -66.7 110 114 -3.5
Bankruptcies 1 7 9 -85.7 -88.9 85 99 -14.1
Proposals 2 7 0 -71.4 25 15 66.7
Real Estate and Rental and Leasing 7 10 18 -30.0 -61.1 153 207 -26.1
Bankruptcies 6 8 16 -25.0 -62.5 123 134 -8.2
Proposals 1 2 2 -50.0 -50.0 30 73 -58.9
Professional, Scientific and Technical Services 13 28 28 -53.6 -53.6 275 392 -29.8
Bankruptcies 10 21 24 -52.4 -58.3 195 293 -33.4
Proposals 3 7 4 -57.1 -25.0 80 99 -19.2
Management of Companies and Enterprises 2 4 6 -50.0 -66.7 47 68 -30.9
Bankruptcies 1 2 4 -50.0 -75.0 40 46 -13.0
Proposals 1 2 2 -50.0 -50.0 7 22 -68.2
Administrative and Support, Waste Management and Remediation Services 6 13 20 -53.8 -70.0 187 248 -24.6
Bankruptcies 4 12 13 -66.7 -69.2 155 193 -19.7
Proposals 2 1 7 100.0 -71.4 32 55 -41.8
Educational Services 1 5 3 -80.0 -66.7 37 41 -9.8
Bankruptcies 0 1 2 -100.0 -100.0 25 35 -28.6
Proposals 1 4 1 -75.0 0.0 12 6 100.0
Health Care and Social Assistance 5 8 3 -37.5 66.7 80 72 11.1
Bankruptcies 2 5 3 -60.0 -33.3 59 57 3.5
Proposals 3 3 0 0.0 21 15 40.0
Arts, Entertainment and Recreation 4 14 4 -71.4 0.0 91 116 -21.6
Bankruptcies 4 12 3 -66.7 33.3 82 88 -6.8
Proposals 0 2 1 -100.0 -100.0 9 28 -67.9
Accommodation and Food Services 33 66 60 -50.0 -45.0 623 702 -11.3
Bankruptcies 25 54 40 -53.7 -37.5 476 524 -9.2
Proposals 8 12 20 -33.3 -60.0 147 178 -17.4
Other Services (except Public Administration) 18 30 22 -40.0 -18.2 307 294 4.4
Bankruptcies 13 24 20 -45.8 -35.0 248 244 1.6
Proposals 5 6 2 -16.7 150.0 59 50 18.0
Public Administration 1 0 0 5 9 -44.4
Bankruptcies 1 0 0 3 6 -50.0
Proposals 0 0 0 2 3 -33.3
Total 293 429 370 -31.7 -20.8 4,826 5,786 -16.6
Bankruptcies 219 324 294 -32.4 -25.5 3,715 4,553 -18.4
Proposals 74 105 76 -29.5 -2.6 1,111 1,233 -9.9
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