Insolvency Statistics in Canada—February 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
Province Volume % Change 12-Month Period Ending
Feb. 2014 Jan. 2014 Feb. 2013 Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-2014 02-28-2013 % Change
Newfoundland and Labrador 128 110 149 16.4 -14.1 1,656 1,789 -7.4
Bankruptcies 116 101 136 14.9 -14.7 1,492 1,647 -9.4
Proposals 12 9 13 33.3 -7.7 164 142 15.5
Prince Edward Island 48 64 47 -25.0 2.1 655 628 4.3
Bankruptcies 29 48 35 -39.6 -17.1 458 481 -4.8
Proposals 19 16 12 18.8 58.3 197 147 34.0
Nova Scotia 434 302 340 43.7 27.6 4,847 4,346 11.5
Bankruptcies 287 198 232 44.9 23.7 3,407 3,223 5.7
Proposals 147 104 108 41.3 36.1 1,440 1,123 28.2
New Brunswick 333 310 315 7.4 5.7 4,072 3,884 4.8
Bankruptcies 236 215 233 9.8 1.3 2,902 2,938 -1.2
Proposals 97 95 82 2.1 18.3 1,170 946 23.7
Quebec 3,670 3,451 3,460 6.3 6.1 42,468 38,421 10.5
Bankruptcies 2,188 2,097 2,209 4.3 -1.0 26,733 25,883 3.3
Proposals 1,482 1,354 1,251 9.5 18.5 15,735 12,538 25.5
Ontario 3,425 3,113 3,406 10.0 0.6 44,882 47,884 -6.3
Bankruptcies 1,566 1,415 1,621 10.7 -3.4 22,400 23,828 -6.0
Proposals 1,859 1,698 1,785 9.5 4.1 22,482 24,056 -6.5
Manitoba 130 122 125 6.6 4.0 1,922 1,867 2.9
Bankruptcies 84 76 76 10.5 10.5 1,266 1,271 -0.4
Proposals 46 46 49 0.0 -6.1 656 596 10.1
Saskatchewan 154 166 126 -7.2 22.2 1,867 1,789 4.4
Bankruptcies 90 99 77 -9.1 16.9 1,135 1,059 7.2
Proposals 64 67 49 -4.5 30.6 732 730 0.3
Alberta 679 644 713 5.4 -4.8 8,311 9,346 -11.1
Bankruptcies 313 343 426 -8.7 -26.5 4,600 5,776 -20.4
Proposals 366 301 287 21.6 27.5 3,711 3,570 3.9
British Columbia 921 859 984 7.2 -6.4 11,926 11,877 0.4
Bankruptcies 541 499 601 8.4 -10.0 7,153 7,666 -6.7
Proposals 380 360 383 5.6 -0.8 4,773 4,211 13.3
Northwest Territories 4 0 4 -- 0.0 49 52 -5.8
Bankruptcies 2 0 3 -- -33.3 29 28 3.6
Proposals 2 0 1 -- 100.0 20 24 -16.7
Yukon 3 5 6 -40.0 -50.0 33 40 -17.5
Bankruptcies 1 5 3 -80.0 -66.7 25 24 4.2
Proposals 2 0 3 -- -33.3 8 16 -50.0
Nunavut 1 2 0 -50.0 -- 8 3 166.7
Bankruptcies 0 2 0 -100.0 -- 5 1 400.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,930 9,148 9,675 8.5 2.6 122,696 121,926 0.6
Bankruptcies 5,453 5,098 5,652 7.0 -3.5 71,605 73,825 -3.0
Proposals 4,477 4,050 4,023 10.5 11.3 51,091 48,101 6.2
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Feb. 2014 Jan. 2014 Feb. 2013 Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-2014 02-28-2013 % Change
Newfoundland and Labrador 127 106 148 19.8 -14.2 1,625 1,767 -8.0
Bankruptcies 115 98 135 17.3 -14.8 1,471 1,631 -9.8
Proposals 12 8 13 50.0 -7.7 154 136 13.2
Prince Edward Island 48 64 44 -25.0 9.1 638 612 4.2
Bankruptcies 29 48 32 -39.6 -9.4 446 466 -4.3
Proposals 19 16 12 18.8 58.3 192 146 31.5
Nova Scotia 427 298 328 43.3 30.2 4,748 4,236 12.1
Bankruptcies 284 195 224 45.6 26.8 3,334 3,135 6.3
Proposals 143 103 104 38.8 37.5 1,414 1,101 28.4
New Brunswick 327 305 308 7.2 6.2 3,992 3,817 4.6
Bankruptcies 233 210 228 11.0 2.2 2,839 2,890 -1.8
Proposals 94 95 80 -1.1 17.5 1,153 927 24.4
Quebec 3,465 3,286 3,246 5.4 6.7 40,282 36,383 10.7
Bankruptcies 2,039 1,970 2,058 3.5 -0.9 25,126 24,389 3.0
Proposals 1,426 1,316 1,188 8.4 20.0 15,156 11,994 26.4
Ontario 3,342 3,013 3,317 10.9 0.8 43,663 46,571 -6.2
Bankruptcies 1,511 1,342 1,556 12.6 -2.9 21,457 22,824 -6.0
Proposals 1,831 1,671 1,761 9.6 4.0 22,206 23,747 -6.5
Manitoba 125 118 119 5.9 5.0 1,858 1,817 2.3
Bankruptcies 79 72 70 9.7 12.9 1,213 1,231 -1.5
Proposals 46 46 49 0.0 -6.1 645 586 10.1
Saskatchewan 145 148 114 -2.0 27.2 1,743 1,669 4.4
Bankruptcies 87 87 73 0.0 19.2 1,059 992 6.8
Proposals 58 61 41 -4.9 41.5 684 677 1.0
Alberta 663 636 694 4.2 -4.5 8,128 9,062 -10.3
Bankruptcies 302 336 412 -10.1 -26.7 4,469 5,567 -19.7
Proposals 361 300 282 20.3 28.0 3,659 3,495 4.7
British Columbia 897 844 953 6.3 -5.9 11,684 11,607 0.7
Bankruptcies 524 486 582 7.8 -10.0 6,969 7,476 -6.8
Proposals 373 358 371 4.2 0.5 4,715 4,131 14.1
Northwest Territories 4 0 4 -- 0.0 49 51 -3.9
Bankruptcies 2 0 3 -- -33.3 29 28 3.6
Proposals 2 0 1 -- 100.0 20 23 -13.0
Yukon 3 5 4 -40.0 -25.0 33 37 -10.8
Bankruptcies 1 5 1 -80.0 0.0 25 21 19.0
Proposals 2 0 3 -- -33.3 8 16 -50.0
Nunavut 1 2 0 -50.0 -- 8 2 300.0
Bankruptcies 0 2 0 -100.0 -- 5 0 --
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,574 8,825 9,279 8.5 3.2 118,451 117,631 0.7
Bankruptcies 5,206 4,851 5,374 7.3 -3.1 68,442 70,650 -3.1
Proposals 4,368 3,974 3,905 9.9 11.9 50,009 46,981 6.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Feb. 2014 Jan. 2014 Feb. 2013 Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-2014 02-28-2013 % Change
Newfoundland and Labrador 1 4 1 -75.0 0.0 31 22 40.9
Bankruptcies 1 3 1 -66.7 0.0 21 16 31.3
Proposals 0 1 0 -100.0 -- 10 6 66.7
Prince Edward Island 0 0 3 -- -100.0 17 16 6.3
Bankruptcies 0 0 3 -- -100.0 12 15 -20.0
Proposals 0 0 0 -- -- 5 1 400.0
Nova Scotia 7 4 12 75.0 -41.7 99 110 -10.0
Bankruptcies 3 3 8 0.0 -62.5 73 88 -17.0
Proposals 4 1 4 300.0 0.0 26 22 18.2
New Brunswick 6 5 7 20.0 -14.3 80 67 19.4
Bankruptcies 3 5 5 -40.0 -40.0 63 48 31.3
Proposals 3 0 2 -- 50.0 17 19 -10.5
Quebec 205 165 214 24.2 -4.2 2,186 2,038 7.3
Bankruptcies 149 127 151 17.3 -1.3 1,607 1,494 7.6
Proposals 56 38 63 47.4 -11.1 579 544 6.4
Ontario 83 100 89 -17.0 -6.7 1,219 1,313 -7.2
Bankruptcies 55 73 65 -24.7 -15.4 943 1,004 -6.1
Proposals 28 27 24 3.7 16.7 276 309 -10.7
Manitoba 5 4 6 25.0 -16.7 64 50 28.0
Bankruptcies 5 4 6 25.0 -16.7 53 40 32.5
Proposals 0 0 0 -- -- 11 10 10.0
Saskatchewan 9 18 12 -50.0 -25.0 124 120 3.3
Bankruptcies 3 12 4 -75.0 -25.0 76 67 13.4
Proposals 6 6 8 0.0 -25.0 48 53 -9.4
Alberta 16 8 19 100.0 -15.8 183 284 -35.6
Bankruptcies 11 7 14 57.1 -21.4 131 209 -37.3
Proposals 5 1 5 400.0 0.0 52 75 -30.7
British Columbia 24 15 31 60.0 -22.6 242 270 -10.4
Bankruptcies 17 13 19 30.8 -10.5 184 190 -3.2
Proposals 7 2 12 250.0 -41.7 58 80 -27.5
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 2 -- -100.0 0 3 -100.0
Bankruptcies 0 0 2 -- -100.0 0 3 -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 356 323 396 10.2 -10.1 4,245 4,295 -1.2
Bankruptcies 247 247 278 0.0 -11.2 3,163 3,175 -0.4
Proposals 109 76 118 43.4 -7.6 1,082 1,120 -3.4
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Feb. 2014 Jan. 2014 Feb. 2013 Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-2014 02-28-2013 % Change
Agriculture, Forestry, Fishing and Hunting 5 9 9 -44.4 -44.4 128 112 14.3
Bankruptcies 4 8 7 -50.0 -42.9 92 81 13.6
Proposals 1 1 2 0.0 -50.0 36 31 16.1
Mining and Oil and Gas Extraction 3 3 0 0.0 -- 39 34 14.7
Bankruptcies 3 2 0 50.0 -- 20 26 -23.1
Proposals 0 1 0 -100.0 -- 19 8 137.5
Utilities 0 1 4 -100.0 -100.0 6 22 -72.7
Bankruptcies 0 1 3 -100.0 -100.0 3 12 -75.0
Proposals 0 0 1 -- -100.0 3 10 -70.0
Construction 69 65 87 6.2 -20.7 744 824 -9.7
Bankruptcies 45 50 57 -10.0 -21.1 564 599 -5.8
Proposals 24 15 30 60.0 -20.0 180 225 -20.0
Manufacturing 34 32 35 6.3 -2.9 419 423 -0.9
Bankruptcies 21 24 22 -12.5 -4.5 296 290 2.1
Proposals 13 8 13 62.5 0.0 123 133 -7.5
Wholesale Trade 14 21 26 -33.3 -46.2 225 238 -5.5
Bankruptcies 8 16 18 -50.0 -55.6 154 174 -11.5
Proposals 6 5 8 20.0 -25.0 71 64 10.9
Retail Trade 40 45 50 -11.1 -20.0 520 569 -8.6
Bankruptcies 30 39 36 -23.1 -16.7 418 438 -4.6
Proposals 10 6 14 66.7 -28.6 102 131 -22.1
Transportation and Warehousing 23 15 18 53.3 27.8 233 258 -9.7
Bankruptcies 14 11 12 27.3 16.7 181 209 -13.4
Proposals 9 4 6 125.0 50.0 52 49 6.1
Information and Cultural Industries 4 5 4 -20.0 0.0 55 61 -9.8
Bankruptcies 4 3 4 33.3 0.0 44 51 -13.7
Proposals 0 2 0 -100.0 -- 11 10 10.0
Finance and Insurance 8 3 11 166.7 -27.3 71 77 -7.8
Bankruptcies 6 3 10 100.0 -40.0 57 64 -10.9
Proposals 2 0 1 -- 100.0 14 13 7.7
Real Estate and Rental and Leasing 9 9 13 0.0 -30.8 145 109 33.0
Bankruptcies 8 6 10 33.3 -20.0 111 73 52.1
Proposals 1 3 3 -66.7 -66.7 34 36 -5.6
Professional, Scientific and Technical Services 29 15 25 93.3 16.0 306 260 17.7
Bankruptcies 23 9 20 155.6 15.0 218 191 14.1
Proposals 6 6 5 0.0 20.0 88 69 27.5
Management of Companies and Enterprises 2 5 4 -60.0 -50.0 71 58 22.4
Bankruptcies 2 5 3 -60.0 -33.3 49 47 4.3
Proposals 0 0 1 -- -100.0 22 11 100.0
Administrative and Support, Waste Management and Remediation Services 18 8 11 125.0 63.6 193 192 0.5
Bankruptcies 11 5 8 120.0 37.5 139 142 -2.1
Proposals 7 3 3 133.3 133.3 54 50 8.0
Educational Services 5 2 3 150.0 66.7 36 31 16.1
Bankruptcies 5 2 1 150.0 400.0 29 25 16.0
Proposals 0 0 2 -- -100.0 7 6 16.7
Health Care and Social Assistance 11 1 6 1,000.0 83.3 70 53 32.1
Bankruptcies 6 1 4 500.0 50.0 52 42 23.8
Proposals 5 0 2 -- 150.0 18 11 63.6
Arts, Entertainment and Recreation 13 1 9 1,200.0 44.4 80 80 0.0
Bankruptcies 11 1 8 1,000.0 37.5 68 63 7.9
Proposals 2 0 1 -- 100.0 12 17 -29.4
Accommodation and Food Services 48 64 59 -25.0 -18.6 660 626 5.4
Bankruptcies 31 47 40 -34.0 -22.5 481 434 10.8
Proposals 17 17 19 0.0 -10.5 179 192 -6.8
Other Services (except Public Administration) 21 19 22 10.5 -4.5 244 265 -7.9
Bankruptcies 15 14 15 7.1 0.0 187 212 -11.8
Proposals 6 5 7 20.0 -14.3 57 53 7.5
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 356 323 396 10.2 -10.1 4,245 4,295 -1.2
Bankruptcies 247 247 278 0.0 -11.2 3,163 3,175 -0.4
Proposals 109 76 118 43.4 -7.6 1,082 1,120 -3.4
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