Insolvency Statistics in Canada—March 2014

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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 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
March 2014 Feb. 2014 March 2013 Feb. 2014
to
March 2014
March 2013
to
March 2014
03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 149 128 145 16.4 2.8 1,660 1,770 -6.2
Bankruptcies 130 116 136 12.1 -4.4 1,486 1,627 -8.7
Proposals 19 12 9 58.3 111.1 174 143 21.7
Prince Edward Island 63 48 37 31.3 70.3 681 622 9.5
Bankruptcies 40 29 29 37.9 37.9 469 472 -0.6
Proposals 23 19 8 21.1 187.5 212 150 41.3
Nova Scotia 402 434 386 -7.4 4.1 4,863 4,324 12.5
Bankruptcies 282 287 289 -1.7 -2.4 3,400 3,200 6.3
Proposals 120 147 97 -18.4 23.7 1,463 1,124 30.2
New Brunswick 317 333 298 -4.8 6.4 4,091 3,803 7.6
Bankruptcies 214 236 209 -9.3 2.4 2,907 2,859 1.7
Proposals 103 97 89 6.2 15.7 1,184 944 25.4
Quebec 3,715 3,670 3,535 1.2 5.1 42,648 38,412 11.0
Bankruptcies 2,127 2,188 2,167 -2.8 -1.8 26,693 25,702 3.9
Proposals 1,588 1,482 1,368 7.2 16.1 15,955 12,710 25.5
Ontario 3,955 3,425 4,026 15.5 -1.8 44,811 47,422 -5.5
Bankruptcies 1,862 1,566 1,978 18.9 -5.9 22,284 23,609 -5.6
Proposals 2,093 1,859 2,048 12.6 2.2 22,527 23,813 -5.4
Manitoba 159 130 165 22.3 -3.6 1,916 1,861 3.0
Bankruptcies 98 84 110 16.7 -10.9 1,254 1,269 -1.2
Proposals 61 46 55 32.6 10.9 662 592 11.8
Saskatchewan 201 154 162 30.5 24.1 1,906 1,758 8.4
Bankruptcies 127 90 103 41.1 23.3 1,159 1,050 10.4
Proposals 74 64 59 15.6 25.4 747 708 5.5
Alberta 759 679 774 11.8 -1.9 8,296 9,187 -9.7
Bankruptcies 371 313 441 18.5 -15.9 4,530 5,630 -19.5
Proposals 388 366 333 6.0 16.5 3,766 3,557 5.9
British Columbia 1,021 921 998 10.9 2.3 11,949 11,770 1.5
Bankruptcies 604 541 619 11.6 -2.4 7,138 7,586 -5.9
Proposals 417 380 379 9.7 10.0 4,811 4,184 15.0
Northwest Territories 10 4 3 150.0 233.3 56 45 24.4
Bankruptcies 5 2 1 150.0 400.0 33 24 37.5
Proposals 5 2 2 150.0 150.0 23 21 9.5
Yukon 1 3 1 -66.7 0.0 33 40 -17.5
Bankruptcies 1 1 1 0.0 0.0 25 24 4.2
Proposals 0 2 0 -100.0 -- 8 16 -50.0
Nunavut 0 1 1 -100.0 -100.0 7 4 75.0
Bankruptcies 0 0 1 -- -100.0 4 2 100.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 10,752 9,930 10,531 8.3 2.1 122,917 121,018 1.6
Bankruptcies 5,861 5,453 6,084 7.5 -3.7 71,382 73,054 -2.3
Proposals 4,891 4,477 4,447 9.2 10.0 51,535 47,964 7.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March 2014 Feb. 2014 March 2013 Feb. 2014
to
March 2014
March 2013
to
March 2014
03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 145 127 145 14.2 0.0 1,625 1,752 -7.2
Bankruptcies 127 115 136 10.4 -6.6 1,462 1,615 -9.5
Proposals 18 12 9 50.0 100.0 163 137 19.0
Prince Edward Island 60 48 37 25.0 62.2 661 609 8.5
Bankruptcies 39 29 29 34.5 34.5 456 460 -0.9
Proposals 21 19 8 10.5 162.5 205 149 37.6
Nova Scotia 396 427 380 -7.3 4.2 4,764 4,215 13.0
Bankruptcies 280 284 283 -1.4 -1.1 3,331 3,112 7.0
Proposals 116 143 97 -18.9 19.6 1,433 1,103 29.9
New Brunswick 302 327 296 -7.6 2.0 3,998 3,736 7.0
Bankruptcies 202 233 207 -13.3 -2.4 2,834 2,811 0.8
Proposals 100 94 89 6.4 12.4 1,164 925 25.8
Quebec 3,520 3,465 3,354 1.6 4.9 40,448 36,369 11.2
Bankruptcies 1,974 2,039 2,030 -3.2 -2.8 25,070 24,190 3.6
Proposals 1,546 1,426 1,324 8.4 16.8 15,378 12,179 26.3
Ontario 3,864 3,342 3,908 15.6 -1.1 43,619 46,146 -5.5
Bankruptcies 1,797 1,511 1,885 18.9 -4.7 21,369 22,631 -5.6
Proposals 2,067 1,831 2,023 12.9 2.2 22,250 23,515 -5.4
Manitoba 152 125 162 21.6 -6.2 1,848 1,814 1.9
Bankruptcies 92 79 107 16.5 -14.0 1,198 1,230 -2.6
Proposals 60 46 55 30.4 9.1 650 584 11.3
Saskatchewan 182 145 146 25.5 24.7 1,779 1,634 8.9
Bankruptcies 112 87 90 28.7 24.4 1,081 979 10.4
Proposals 70 58 56 20.7 25.0 698 655 6.6
Alberta 749 663 754 13.0 -0.7 8,123 8,908 -8.8
Bankruptcies 365 302 429 20.9 -14.9 4,405 5,428 -18.8
Proposals 384 361 325 6.4 18.2 3,718 3,480 6.8
British Columbia 990 897 974 10.4 1.6 11,700 11,505 1.7
Bankruptcies 586 524 597 11.8 -1.8 6,958 7,393 -5.9
Proposals 404 373 377 8.3 7.2 4,742 4,112 15.3
Northwest Territories 10 4 3 150.0 233.3 56 44 27.3
Bankruptcies 5 2 1 150.0 400.0 33 24 37.5
Proposals 5 2 2 150.0 150.0 23 20 15.0
Yukon 1 3 1 -66.7 0.0 33 37 -10.8
Bankruptcies 1 1 1 0.0 0.0 25 21 19.0
Proposals 0 2 0 -100.0 -- 8 16 -50.0
Nunavut 0 1 1 -100.0 -100.0 7 3 133.3
Bankruptcies 0 0 1 -- -100.0 4 1 300.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 10,371 9,574 10,161 8.3 2.1 118,661 116,772 1.6
Bankruptcies 5,580 5,206 5,796 7.2 -3.7 68,226 69,895 -2.4
Proposals 4,791 4,368 4,365 9.7 9.8 50,435 46,877 7.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March 2014 Feb. 2014 March 2013 Feb. 2014
to
March 2014
March 2013
to
March 2014
03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 4 1 0 300.0 -- 35 18 94.4
Bankruptcies 3 1 0 200.0 -- 24 12 100.0
Proposals 1 0 0 -- -- 11 6 83.3
Prince Edward Island 3 0 0 -- -- 20 13 53.8
Bankruptcies 1 0 0 -- -- 13 12 8.3
Proposals 2 0 0 -- -- 7 1 600.0
Nova Scotia 6 7 6 -14.3 0.0 99 109 -9.2
Bankruptcies 2 3 6 -33.3 -66.7 69 88 -21.6
Proposals 4 4 0 0.0 -- 30 21 42.9
New Brunswick 15 6 2 150.0 650.0 93 67 38.8
Bankruptcies 12 3 2 300.0 500.0 73 48 52.1
Proposals 3 3 0 0.0 -- 20 19 5.3
Quebec 195 205 181 -4.9 7.7 2,200 2,043 7.7
Bankruptcies 153 149 137 2.7 11.7 1,623 1,512 7.3
Proposals 42 56 44 -25.0 -4.5 577 531 8.7
Ontario 91 83 118 9.6 -22.9 1,192 1,276 -6.6
Bankruptcies 65 55 93 18.2 -30.1 915 978 -6.4
Proposals 26 28 25 -7.1 4.0 277 298 -7.0
Manitoba 7 5 3 40.0 133.3 68 47 44.7
Bankruptcies 6 5 3 20.0 100.0 56 39 43.6
Proposals 1 0 0 -- -- 12 8 50.0
Saskatchewan 19 9 16 111.1 18.8 127 124 2.4
Bankruptcies 15 3 13 400.0 15.4 78 71 9.9
Proposals 4 6 3 -33.3 33.3 49 53 -7.5
Alberta 10 16 20 -37.5 -50.0 173 279 -38.0
Bankruptcies 6 11 12 -45.5 -50.0 125 202 -38.1
Proposals 4 5 8 -20.0 -50.0 48 77 -37.7
British Columbia 31 24 24 29.2 29.2 249 265 -6.0
Bankruptcies 18 17 22 5.9 -18.2 180 193 -6.7
Proposals 13 7 2 85.7 550.0 69 72 -4.2
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 -- -- 0 3 -100.0
Bankruptcies 0 0 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 381 356 370 7.0 3.0 4,256 4,246 0.2
Bankruptcies 281 247 288 13.8 -2.4 3,156 3,159 -0.1
Proposals 100 109 82 -8.3 22.0 1,100 1,087 1.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
March 2014 Feb. 2014 March 2013 Feb. 2014
to
March 2014
March 2013
to
March 2014
03-31-2014 03-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 11 5 11 120.0 0.0 128 117 9.4
Bankruptcies 8 4 9 100.0 -11.1 91 84 8.3
Proposals 3 1 2 200.0 50.0 37 33 12.1
Mining and Oil and Gas Extraction 8 3 5 166.7 60.0 42 39 7.7
Bankruptcies 3 3 2 0.0 50.0 21 28 -25.0
Proposals 5 0 3 -- 66.7 21 11 90.9
Utilities 3 0 0 -- -- 9 21 -57.1
Bankruptcies 3 0 0 -- -- 6 11 -45.5
Proposals 0 0 0 -- -- 3 10 -70.0
Construction 54 69 66 -21.7 -18.2 732 796 -8.0
Bankruptcies 44 45 57 -2.2 -22.8 551 587 -6.1
Proposals 10 24 9 -58.3 11.1 181 209 -13.4
Manufacturing 32 34 36 -5.9 -11.1 415 418 -0.7
Bankruptcies 22 21 24 4.8 -8.3 294 288 2.1
Proposals 10 13 12 -23.1 -16.7 121 130 -6.9
Wholesale Trade 19 14 14 35.7 35.7 230 226 1.8
Bankruptcies 8 8 12 0.0 -33.3 150 165 -9.1
Proposals 11 6 2 83.3 450.0 80 61 31.1
Retail Trade 48 40 52 20.0 -7.7 516 561 -8.0
Bankruptcies 36 30 41 20.0 -12.2 413 438 -5.7
Proposals 12 10 11 20.0 9.1 103 123 -16.3
Transportation and Warehousing 30 23 18 30.4 66.7 245 257 -4.7
Bankruptcies 24 14 14 71.4 71.4 191 209 -8.6
Proposals 6 9 4 -33.3 50.0 54 48 12.5
Information and Cultural Industries 7 4 5 75.0 40.0 57 60 -5.0
Bankruptcies 3 4 5 -25.0 -40.0 42 50 -16.0
Proposals 4 0 0 -- -- 15 10 50.0
Finance and Insurance 12 8 5 50.0 140.0 78 73 6.8
Bankruptcies 7 6 4 16.7 75.0 60 61 -1.6
Proposals 5 2 1 150.0 400.0 18 12 50.0
Real Estate and Rental and Leasing 13 9 18 44.4 -27.8 140 112 25.0
Bankruptcies 9 8 16 12.5 -43.8 104 79 31.6
Proposals 4 1 2 300.0 100.0 36 33 9.1
Professional, Scientific and Technical Services 29 29 36 0.0 -19.4 299 268 11.6
Bankruptcies 22 23 29 -4.3 -24.1 211 199 6.0
Proposals 7 6 7 16.7 0.0 88 69 27.5
Management of Companies and Enterprises 2 2 7 0.0 -71.4 66 60 10.0
Bankruptcies 2 2 6 0.0 -66.7 45 49 -8.2
Proposals 0 0 1 -- -100.0 21 11 90.9
Administrative and Support, Waste Management and Remediation Services 15 18 18 -16.7 -16.7 190 195 -2.6
Bankruptcies 9 11 13 -18.2 -30.8 135 145 -6.9
Proposals 6 7 5 -14.3 20.0 55 50 10.0
Educational Services 6 5 2 20.0 200.0 40 29 37.9
Bankruptcies 5 5 1 0.0 400.0 33 23 43.5
Proposals 1 0 1 -- 0.0 7 6 16.7
Health Care and Social Assistance 9 11 3 -18.2 200.0 76 53 43.4
Bankruptcies 8 6 2 33.3 300.0 58 41 41.5
Proposals 1 5 1 -80.0 0.0 18 12 50.0
Arts, Entertainment and Recreation 10 13 6 -23.1 66.7 84 77 9.1
Bankruptcies 10 11 6 -9.1 66.7 72 62 16.1
Proposals 0 2 0 -100.0 -- 12 15 -20.0
Accommodation and Food Services 52 48 57 8.3 -8.8 655 626 4.6
Bankruptcies 43 31 40 38.7 7.5 484 438 10.5
Proposals 9 17 17 -47.1 -47.1 171 188 -9.0
Other Services (except Public Administration) 21 21 11 0.0 90.9 254 257 -1.2
Bankruptcies 15 15 7 0.0 114.3 195 202 -3.5
Proposals 6 6 4 0.0 50.0 59 55 7.3
Public Administration 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Total 381 356 370 7.0 3.0 4,256 4,246 0.2
Bankruptcies 281 247 288 13.8 -2.4 3,156 3,159 -0.1
Proposals 100 109 82 -8.3 22.0 1,100 1,087 1.2
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