Insolvency Statistics in Canada—January 2014

Detailed report

Tables

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 a 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
Volume % Change 12-Month Period Ending
Jan. 2014 Dec. 2013 Jan. 2013 Dec. 2013
to
Jan. 2014
Jan. 2013
to
Jan. 2014
01-31-2014 01-31-2013 % Change
Newfoundland and Labrador 110 88 143 25.0 -23.1 1,677 1,794 -6.5
Bankruptcies 101 78 134 29.5 -24.6 1,512 1,654 -8.6
Proposals 9 10 9 -10.0 0.0 165 140 17.9
Prince Edward Island 64 56 50 14.3 28.0 654 636 2.8
Bankruptcies 48 34 42 41.2 14.3 464 490 -5.3
Proposals 16 22 8 -27.3 100.0 190 146 30.1
Nova Scotia 302 319 320 -5.3 -5.6 4,753 4,410 7.8
Bankruptcies 198 239 225 -17.2 -12.0 3,352 3,290 1.9
Proposals 104 80 95 30.0 9.5 1,401 1,120 25.1
New Brunswick 310 265 293 17.0 5.8 4,054 3,906 3.8
Bankruptcies 215 190 226 13.2 -4.9 2,899 2,949 -1.7
Proposals 95 75 67 26.7 41.8 1,155 957 20.7
Quebec 3,451 2,888 3,320 19.5 3.9 42,258 38,350 10.2
Bankruptcies 2,097 1,760 2,155 19.1 -2.7 26,754 26,002 2.9
Proposals 1,354 1,128 1,165 20.0 16.2 15,504 12,348 25.6
Ontario 3,113 3,160 3,604 -1.5 -13.6 44,863 48,732 -7.9
Bankruptcies 1,415 1,651 1,691 -14.3 -16.3 22,455 24,235 -7.3
Proposals 1,698 1,509 1,913 12.5 -11.2 22,408 24,497 -8.5
Manitoba 122 177 124 -31.1 -1.6 1,917 1,904 0.7
Bankruptcies 76 124 87 -38.7 -12.6 1,258 1,301 -3.3
Proposals 46 53 37 -13.2 24.3 659 603 9.3
Saskatchewan 166 125 132 32.8 25.8 1,839 1,816 1.3
Bankruptcies 99 77 83 28.6 19.3 1,122 1,068 5.1
Proposals 67 48 49 39.6 36.7 717 748 -4.1
Alberta 644 556 751 15.8 -14.2 8,345 9,460 -11.8
Bankruptcies 343 298 456 15.1 -24.8 4,713 5,908 -20.2
Proposals 301 258 295 16.7 2.0 3,632 3,552 2.3
British Columbia 859 816 927 5.3 -7.3 11,989 12,003 -0.1
Bankruptcies 499 525 605 -5.0 -17.5 7,213 7,791 -7.4
Proposals 360 291 322 23.7 11.8 4,776 4,212 13.4
Northwest Territories 0 5 2 -100.0 -100.0 49 52 -5.8
Bankruptcies 0 4 1 -100.0 -100.0 30 29 3.4
Proposals 0 1 1 -100.0 -100.0 19 23 -17.4
Yukon 5 3 0 66.7 -- 36 36 0.0
Bankruptcies 5 2 0 150.0 -- 27 23 17.4
Proposals 0 1 0 -100.0 -- 9 13 -30.8
Nunavut 2 0 0 -- -- 7 4 75.0
Bankruptcies 2 0 0 -- -- 5 1 400.0
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 9,148 8,458 9,666 8.2 -5.4 122,441 123,103 -0.5
Bankruptcies 5,098 4,982 5,705 2.3 -10.6 71,804 74,741 -3.9
Proposals 4,050 3,476 3,961 16.5 2.2 50,637 48,362 4.7
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
Jan. 2014 Dec. 2013 Jan. 2013 Dec. 2013
to
Jan. 2014
Jan. 2013
to
Jan. 2014
01-31-2014 01-31-2013 % Change
Newfoundland and Labrador 106 85 138 24.7 -23.2 1,646 1,772 -7.1
Bankruptcies 98 75 131 30.7 -25.2 1,491 1,638 -9.0
Proposals 8 10 7 -20.0 14.3 155 134 15.7
Prince Edward Island 64 53 47 20.8 36.2 634 619 2.4
Bankruptcies 48 32 39 50.0 23.1 449 474 -5.3
Proposals 16 21 8 -23.8 100.0 185 145 27.6
Nova Scotia 298 314 309 -5.1 -3.6 4,649 4,299 8.1
Bankruptcies 195 234 216 -16.7 -9.7 3,274 3,199 2.3
Proposals 103 80 93 28.8 10.8 1,375 1,100 25.0
New Brunswick 305 257 287 18.7 6.3 3,973 3,837 3.5
Bankruptcies 210 182 222 15.4 -5.4 2,834 2,899 -2.2
Proposals 95 75 65 26.7 46.2 1,139 938 21.4
Quebec 3,286 2,695 3,170 21.9 3.7 40,063 36,351 10.2
Bankruptcies 1,970 1,617 2,046 21.8 -3.7 25,145 24,526 2.5
Proposals 1,316 1,078 1,124 22.1 17.1 14,918 11,825 26.2
Ontario 3,013 3,050 3,509 -1.2 -14.1 43,638 47,394 -7.9
Bankruptcies 1,342 1,565 1,613 -14.2 -16.8 21,502 23,206 -7.3
Proposals 1,671 1,485 1,896 12.5 -11.9 22,136 24,188 -8.5
Manitoba 118 171 118 -31.0 0.0 1,852 1,853 -0.1
Bankruptcies 72 118 82 -39.0 -12.2 1,204 1,263 -4.7
Proposals 46 53 36 -13.2 27.8 648 590 9.8
Saskatchewan 148 125 126 18.4 17.5 1,712 1,699 0.8
Bankruptcies 87 77 80 13.0 8.7 1,045 1,000 4.5
Proposals 61 48 46 27.1 32.6 667 699 -4.6
Alberta 636 531 735 19.8 -13.5 8,159 9,157 -10.9
Bankruptcies 336 284 446 18.3 -24.7 4,579 5,688 -19.5
Proposals 300 247 289 21.5 3.8 3,580 3,469 3.2
British Columbia 844 801 906 5.4 -6.8 11,740 11,731 0.1
Bankruptcies 486 512 589 -5.1 -17.5 7,027 7,596 -7.5
Proposals 358 289 317 23.9 12.9 4,713 4,135 14.0
Northwest Territories 0 5 2 -100.0 -100.0 49 51 -3.9
Bankruptcies 0 4 1 -100.0 -100.0 30 29 3.4
Proposals 0 1 1 -100.0 -100.0 19 22 -13.6
Yukon 5 3 0 66.7 -- 34 35 -2.9
Bankruptcies 5 2 0 150.0 -- 25 22 13.6
Proposals 0 1 0 -100.0 -- 9 13 -30.8
Nunavut 2 0 0 -- -- 7 3 133.3
Bankruptcies 2 0 0 -- -- 5 0 --
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 8,825 8,090 9,347 9.1 -5.6 118,156 118,801 -0.5
Bankruptcies 4,851 4,702 5,465 3.2 -11.2 68,610 71,540 -4.1
Proposals 3,974 3,388 3,882 17.3 2.4 49,546 47,261 4.8
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
Jan. 2014 Dec. 2013 Jan. 2013 Dec. 2013
to
Jan. 2014
Jan. 2013
to
Jan. 2014
01-31-2014 01-31-2013 % Change
Newfoundland and Labrador 4 3 5 33.3 -20.0 31 22 40.9
Bankruptcies 3 3 3 0.0 0.0 21 16 31.3
Proposals 1 0 2 -- -50.0 10 6 66.7
Prince Edward Island 0 3 3 -100.0 -100.0 20 17 17.6
Bankruptcies 0 2 3 -100.0 -100.0 15 16 -6.3
Proposals 0 1 0 -100.0 -- 5 1 400.0
Nova Scotia 4 5 11 -20.0 -63.6 104 111 -6.3
Bankruptcies 3 5 9 -40.0 -66.7 78 91 -14.3
Proposals 1 0 2 -- -50.0 26 20 30.0
New Brunswick 5 8 6 -37.5 -16.7 81 69 17.4
Bankruptcies 5 8 4 -37.5 25.0 65 50 30.0
Proposals 0 0 2 -- -100.0 16 19 -15.8
Quebec 165 193 150 -14.5 10.0 2,195 1,999 9.8
Bankruptcies 127 143 109 -11.2 16.5 1,609 1,476 9.0
Proposals 38 50 41 -24.0 -7.3 586 523 12.0
Ontario 100 110 95 -9.1 5.3 1,225 1,338 -8.4
Bankruptcies 73 86 78 -15.1 -6.4 953 1,029 -7.4
Proposals 27 24 17 12.5 58.8 272 309 -12.0
Manitoba 4 6 6 -33.3 -33.3 65 51 27.5
Bankruptcies 4 6 5 -33.3 -20.0 54 38 42.1
Proposals 0 0 1 -- -100.0 11 13 -15.4
Saskatchewan 18 0 6 -- 200.0 127 117 8.5
Bankruptcies 12 0 3 -- 300.0 77 68 13.2
Proposals 6 0 3 -- 100.0 50 49 2.0
Alberta 8 25 16 -68.0 -50.0 186 303 -38.6
Bankruptcies 7 14 10 -50.0 -30.0 134 220 -39.1
Proposals 1 11 6 -90.9 -83.3 52 83 -37.3
British Columbia 15 15 21 0.0 -28.6 249 272 -8.5
Bankruptcies 13 13 16 0.0 -18.8 186 195 -4.6
Proposals 2 2 5 0.0 -60.0 63 77 -18.2
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 2 1 100.0
Bankruptcies 0 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 323 368 319 -12.2 1.3 4,285 4,302 -0.4
Bankruptcies 247 280 240 -11.8 2.9 3,194 3,201 -0.2
Proposals 76 88 79 -13.6 -3.8 1,091 1,101 -0.9
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
Jan. 2014 Dec. 2013 Jan. 2013 Dec. 2013
to
Jan. 2014
Jan. 2013
to
Jan. 2014
01-31-2014 01-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 9 13 10 -30.8 -10.0 132 116 13.8
Bankruptcies 8 11 6 -27.3 33.3 95 85 11.8
Proposals 1 2 4 -50.0 -75.0 37 31 19.4
Mining and Oil and Gas Extraction 3 2 0 50.0 -- 36 34 5.9
Bankruptcies 2 2 0 0.0 -- 17 26 -34.6
Proposals 1 0 0 -- -- 19 8 137.5
Utilities 1 3 1 -66.7 0.0 10 18 -44.4
Bankruptcies 1 2 0 -50.0 -- 6 9 -33.3
Proposals 0 1 1 -100.0 -100.0 4 9 -55.6
Construction 65 62 51 4.8 27.5 762 807 -5.6
Bankruptcies 50 51 38 -2.0 31.6 576 590 -2.4
Proposals 15 11 13 36.4 15.4 186 217 -14.3
Manufacturing 32 39 35 -17.9 -8.6 420 428 -1.9
Bankruptcies 24 25 22 -4.0 9.1 297 299 -0.7
Proposals 8 14 13 -42.9 -38.5 123 129 -4.7
Wholesale Trade 21 23 15 -8.7 40.0 237 233 1.7
Bankruptcies 16 12 13 33.3 23.1 164 171 -4.1
Proposals 5 11 2 -54.5 150.0 73 62 17.7
Retail Trade 45 46 43 -2.2 4.7 530 560 -5.4
Bankruptcies 39 41 36 -4.9 8.3 424 433 -2.1
Proposals 6 5 7 20.0 -14.3 106 127 -16.5
Transportation and Warehousing 15 16 24 -6.3 -37.5 228 260 -12.3
Bankruptcies 11 15 19 -26.7 -42.1 179 213 -16.0
Proposals 4 1 5 300.0 -20.0 49 47 4.3
Information and Cultural Industries 5 9 2 -44.4 150.0 55 62 -11.3
Bankruptcies 3 6 1 -50.0 200.0 44 52 -15.4
Proposals 2 3 1 -33.3 100.0 11 10 10.0
Finance and Insurance 3 5 7 -40.0 -57.1 74 75 -1.3
Bankruptcies 3 2 5 50.0 -40.0 61 62 -1.6
Proposals 0 3 2 -100.0 -100.0 13 13 0.0
Real Estate and Rental and Leasing 9 12 4 -25.0 125.0 149 112 33.0
Bankruptcies 6 9 2 -33.3 200.0 113 74 52.7
Proposals 3 3 2 0.0 50.0 36 38 -5.3
Professional, Scientific and Technical Services 15 22 17 -31.8 -11.8 302 265 14.0
Bankruptcies 9 17 13 -47.1 -30.8 215 192 12.0
Proposals 6 5 4 20.0 50.0 87 73 19.2
Management of Companies and Enterprises 5 6 1 -16.7 400.0 73 61 19.7
Bankruptcies 5 2 1 150.0 400.0 50 49 2.0
Proposals 0 4 0 -100.0 -- 23 12 91.7
Administrative and Support, Waste Management and Remediation Services 8 20 21 -60.0 -61.9 186 207 -10.1
Bankruptcies 5 15 17 -66.7 -70.6 136 151 -9.9
Proposals 3 5 4 -40.0 -25.0 50 56 -10.7
Educational Services 2 1 3 100.0 -33.3 34 34 0.0
Bankruptcies 2 1 3 100.0 -33.3 25 29 -13.8
Proposals 0 0 0 -- -- 9 5 80.0
Health Care and Social Assistance 1 7 3 -85.7 -66.7 65 50 30.0
Bankruptcies 1 4 2 -75.0 -50.0 50 40 25.0
Proposals 0 3 1 -100.0 -100.0 15 10 50.0
Arts, Entertainment and Recreation 1 7 6 -85.7 -83.3 76 81 -6.2
Bankruptcies 1 5 4 -80.0 -75.0 65 64 1.6
Proposals 0 2 2 -100.0 -100.0 11 17 -35.3
Accommodation and Food Services 64 57 53 12.3 20.8 671 624 7.5
Bankruptcies 47 46 37 2.2 27.0 490 439 11.6
Proposals 17 11 16 54.5 6.3 181 185 -2.2
Other Services (except Public Administration) 19 18 23 5.6 -17.4 245 272 -9.9
Bankruptcies 14 14 21 0.0 -33.3 187 221 -15.4
Proposals 5 4 2 25.0 150.0 58 51 13.7
Public Administration 0 0 0 -- -- 0 3 -100.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Total 323 368 319 -12.2 1.3 4,285 4,302 -0.4
Bankruptcies 247 280 240 -11.8 2.9 3,194 3,201 -0.2
Proposals 76 88 79 -13.6 -3.8 1,091 1,101 -0.9
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