Insolvency Statistics in Canada—April 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
Volume % Change 12-Month Period Ending
Apr. 2014 March 2014 Apr. 2013 March 2014
to
Apr. 2014
Apr. 2013
to
Apr. 2014
04-30-2014 04-30-2013 % Change
Newfoundland and Labrador 146 149 157 -2.0 -7.0 1,649 1,763 -6.5
Bankruptcies 134 130 140 3.1 -4.3 1,480 1,619 -8.6
Proposals 12 19 17 -36.8 -29.4 169 144 17.4
Prince Edward Island 55 63 53 -12.7 3.8 683 616 10.9
Bankruptcies 43 40 41 7.5 4.9 471 475 -0.8
Proposals 12 23 12 -47.8 0.0 212 141 50.4
Nova Scotia 500 402 439 24.4 13.9 4,924 4,359 13.0
Bankruptcies 359 282 334 27.3 7.5 3,425 3,211 6.7
Proposals 141 120 105 17.5 34.3 1,499 1,148 30.6
New Brunswick 430 317 320 35.6 34.4 4,201 3,805 10.4
Bankruptcies 304 214 258 42.1 17.8 2,953 2,877 2.6
Proposals 126 103 62 22.3 103.2 1,248 928 34.5
Quebec 3,953 3,715 3,905 6.4 1.2 42,696 39,060 9.3
Bankruptcies 2,431 2,127 2,517 14.3 -3.4 26,607 25,967 2.5
Proposals 1,522 1,588 1,388 -4.2 9.7 16,089 13,093 22.9
Ontario 3,871 3,955 4,396 -2.1 -11.9 44,286 47,563 -6.9
Bankruptcies 1,846 1,862 2,248 -0.9 -17.9 21,882 23,693 -7.6
Proposals 2,025 2,093 2,148 -3.2 -5.7 22,404 23,870 -6.1
Manitoba 176 159 181 10.7 -2.8 1,911 1,870 2.2
Bankruptcies 116 98 115 18.4 0.9 1,255 1,265 -0.8
Proposals 60 61 66 -1.6 -9.1 656 605 8.4
Saskatchewan 196 201 176 -2.5 11.4 1,926 1,781 8.1
Bankruptcies 109 127 110 -14.2 -0.9 1,158 1,069 8.3
Proposals 87 74 66 17.6 31.8 768 712 7.9
Alberta 790 759 810 4.1 -2.5 8,276 9,178 -9.8
Bankruptcies 376 371 479 1.3 -21.5 4,427 5,566 -20.5
Proposals 414 388 331 6.7 25.1 3,849 3,612 6.6
British Columbia 1,008 1,021 1,113 -1.3 -9.4 11,844 11,754 0.8
Bankruptcies 625 604 689 3.5 -9.3 7,074 7,523 -6.0
Proposals 383 417 424 -8.2 -9.7 4,770 4,231 12.7
Northwest Territories 2 10 4 -80.0 -50.0 54 44 22.7
Bankruptcies 0 5 1 -100.0 -100.0 32 23 39.1
Proposals 2 5 3 -60.0 -33.3 22 21 4.8
Yukon 6 1 3 500.0 100.0 36 41 -12.2
Bankruptcies 3 1 2 200.0 50.0 26 24 8.3
Proposals 3 0 1 -- 200.0 10 17 -41.2
Nunavut 0 0 0 -- -- 7 4 75.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 0 0 0 -- -- 3 2 50.0
Canada 11,133 10,752 11,557 3.5 -3.7 122,493 121,838 0.5
Bankruptcies 6,346 5,861 6,934 8.3 -8.5 70,794 73,314 -3.4
Proposals 4,787 4,891 4,623 -2.1 3.5 51,699 48,524 6.5
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
Apr. 2014 March 2014 Apr. 2013 March 2014
to
Apr. 2014
Apr. 2013
to
Apr. 2014
04-30-2014 04-30-2013 % Change
Newfoundland and Labrador 145 145 155 0.0 -6.5 1,615 1,744 -7.4
Bankruptcies 133 127 138 4.7 -3.6 1,457 1,606 -9.3
Proposals 12 18 17 -33.3 -29.4 158 138 14.5
Prince Edward Island 55 60 51 -8.3 7.8 665 601 10.6
Bankruptcies 43 39 40 10.3 7.5 459 462 -0.6
Proposals 12 21 11 -42.9 9.1 206 139 48.2
Nova Scotia 493 396 430 24.5 14.7 4,827 4,247 13.7
Bankruptcies 354 280 327 26.4 8.3 3,358 3,121 7.6
Proposals 139 116 103 19.8 35.0 1,469 1,126 30.5
New Brunswick 423 302 314 40.1 34.7 4,107 3,741 9.8
Bankruptcies 300 202 253 48.5 18.6 2,881 2,828 1.9
Proposals 123 100 61 23.0 101.6 1,226 913 34.3
Quebec 3,716 3,520 3,715 5.6 0.0 40,449 36,993 9.3
Bankruptcies 2,251 1,974 2,384 14.0 -5.6 24,937 24,452 2.0
Proposals 1,465 1,546 1,331 -5.2 10.1 15,512 12,541 23.7
Ontario 3,775 3,864 4,258 -2.3 -11.3 43,136 46,264 -6.8
Bankruptcies 1,777 1,797 2,136 -1.1 -16.8 21,010 22,688 -7.4
Proposals 1,998 2,067 2,122 -3.3 -5.8 22,126 23,576 -6.2
Manitoba 167 152 174 9.9 -4.0 1,841 1,816 1.4
Bankruptcies 107 92 109 16.3 -1.8 1,196 1,220 -2.0
Proposals 60 60 65 0.0 -7.7 645 596 8.2
Saskatchewan 186 182 166 2.2 12.0 1,799 1,661 8.3
Bankruptcies 103 112 104 -8.0 -1.0 1,080 1,002 7.8
Proposals 83 70 62 18.6 33.9 719 659 9.1
Alberta 780 749 793 4.1 -1.6 8,110 8,907 -8.9
Bankruptcies 367 365 464 0.5 -20.9 4,308 5,369 -19.8
Proposals 413 384 329 7.6 25.5 3,802 3,538 7.5
British Columbia 991 990 1,094 0.1 -9.4 11,597 11,496 0.9
Bankruptcies 611 586 676 4.3 -9.6 6,893 7,338 -6.1
Proposals 380 404 418 -5.9 -9.1 4,704 4,158 13.1
Northwest Territories 2 10 4 -80.0 -50.0 54 44 22.7
Bankruptcies 0 5 1 -100.0 -100.0 32 23 39.1
Proposals 2 5 3 -60.0 -33.3 22 21 4.8
Yukon 6 1 3 500.0 100.0 36 38 -5.3
Bankruptcies 3 1 2 200.0 50.0 26 21 23.8
Proposals 3 0 1 -- 200.0 10 17 -41.2
Nunavut 0 0 0 -- -- 7 3 133.3
Bankruptcies 0 0 0 -- -- 4 1 300.0
Proposals 0 0 0 -- -- 3 2 50.0
Canada 10,739 10,371 11,157 3.5 -3.7 118,243 117,555 0.6
Bankruptcies 6,049 5,580 6,634 8.4 -8.8 67,641 70,131 -3.6
Proposals 4,690 4,791 4,523 -2.1 3.7 50,602 47,424 6.7
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
Apr. 2014 March 2014 Apr. 2013 March 2014
to
Apr. 2014
Apr. 2013
to
Apr. 2014
04-30-2014 04-30-2013 % Change
Newfoundland and Labrador 1 4 2 -75.0 -50.0 34 19 78.9
Bankruptcies 1 3 2 -66.7 -50.0 23 13 76.9
Proposals 0 1 0 -100.0 -- 11 6 83.3
Prince Edward Island 0 3 2 -100.0 -100.0 18 15 20.0
Bankruptcies 0 1 1 -100.0 -100.0 12 13 -7.7
Proposals 0 2 1 -100.0 -100.0 6 2 200.0
Nova Scotia 7 6 9 16.7 -22.2 97 112 -13.4
Bankruptcies 5 2 7 150.0 -28.6 67 90 -25.6
Proposals 2 4 2 -50.0 0.0 30 22 36.4
New Brunswick 7 15 6 -53.3 16.7 94 64 46.9
Bankruptcies 4 12 5 -66.7 -20.0 72 49 46.9
Proposals 3 3 1 0.0 200.0 22 15 46.7
Quebec 237 195 190 21.5 24.7 2,247 2,067 8.7
Bankruptcies 180 153 133 17.6 35.3 1,670 1,515 10.2
Proposals 57 42 57 35.7 0.0 577 552 4.5
Ontario 96 91 138 5.5 -30.4 1,150 1,299 -11.5
Bankruptcies 69 65 112 6.2 -38.4 872 1,005 -13.2
Proposals 27 26 26 3.8 3.8 278 294 -5.4
Manitoba 9 7 7 28.6 28.6 70 54 29.6
Bankruptcies 9 6 6 50.0 50.0 59 45 31.1
Proposals 0 1 1 -100.0 -100.0 11 9 22.2
Saskatchewan 10 19 10 -47.4 0.0 127 120 5.8
Bankruptcies 6 15 6 -60.0 0.0 78 67 16.4
Proposals 4 4 4 0.0 0.0 49 53 -7.5
Alberta 10 10 17 0.0 -41.2 166 271 -38.7
Bankruptcies 9 6 15 50.0 -40.0 119 197 -39.6
Proposals 1 4 2 -75.0 -50.0 47 74 -36.5
British Columbia 17 31 19 -45.2 -10.5 247 258 -4.3
Bankruptcies 14 18 13 -22.2 7.7 181 185 -2.2
Proposals 3 13 6 -76.9 -50.0 66 73 -9.6
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 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 394 381 400 3.4 -1.5 4,250 4,283 -0.8
Bankruptcies 297 281 300 5.7 -1.0 3,153 3,183 -0.9
Proposals 97 100 100 -3.0 -3.0 1,097 1,100 -0.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
Apr. 2014 March 2014 Apr. 2013 March 2014
to
Apr. 2014
Apr. 2013
to
Apr. 2014
04-30-2014 04-30-2013 % Change
Agriculture, Forestry, Fishing and Hunting 5 11 5 -54.5 0.0 128 111 15.3
Bankruptcies 3 8 4 -62.5 -25.0 90 80 12.5
Proposals 2 3 1 -33.3 100.0 38 31 22.6
Mining and Oil and Gas Extraction 6 8 5 -25.0 20.0 43 41 4.9
Bankruptcies 4 3 4 33.3 0.0 21 29 -27.6
Proposals 2 5 1 -60.0 100.0 22 12 83.3
Utilities 0 3 0 -100.0 -- 9 18 -50.0
Bankruptcies 0 3 0 -100.0 -- 6 9 -33.3
Proposals 0 0 0 -- -- 3 9 -66.7
Construction 69 54 60 27.8 15.0 741 794 -6.7
Bankruptcies 49 44 45 11.4 8.9 555 580 -4.3
Proposals 20 10 15 100.0 33.3 186 214 -13.1
Manufacturing 28 32 42 -12.5 -33.3 401 423 -5.2
Bankruptcies 21 22 31 -4.5 -32.3 284 289 -1.7
Proposals 7 10 11 -30.0 -36.4 117 134 -12.7
Wholesale Trade 26 19 28 36.8 -7.1 228 236 -3.4
Bankruptcies 18 8 15 125.0 20.0 153 168 -8.9
Proposals 8 11 13 -27.3 -38.5 75 68 10.3
Retail Trade 39 48 48 -18.8 -18.8 507 550 -7.8
Bankruptcies 30 36 38 -16.7 -21.1 405 426 -4.9
Proposals 9 12 10 -25.0 -10.0 102 124 -17.7
Transportation and Warehousing 27 30 24 -10.0 12.5 248 259 -4.2
Bankruptcies 20 24 20 -16.7 0.0 191 213 -10.3
Proposals 7 6 4 16.7 75.0 57 46 23.9
Information and Cultural Industries 7 7 7 0.0 0.0 57 61 -6.6
Bankruptcies 5 3 6 66.7 -16.7 41 50 -18.0
Proposals 2 4 1 -50.0 100.0 16 11 45.5
Finance and Insurance 4 12 6 -66.7 -33.3 76 76 0.0
Bankruptcies 3 7 5 -57.1 -40.0 58 64 -9.4
Proposals 1 5 1 -80.0 0.0 18 12 50.0
Real Estate and Rental and Leasing 19 13 7 46.2 171.4 152 110 38.2
Bankruptcies 14 9 4 55.6 250.0 114 79 44.3
Proposals 5 4 3 25.0 66.7 38 31 22.6
Professional, Scientific and Technical Services 30 29 37 3.4 -18.9 292 288 1.4
Bankruptcies 27 22 27 22.7 0.0 211 216 -2.3
Proposals 3 7 10 -57.1 -70.0 81 72 12.5
Management of Companies and Enterprises 6 2 5 200.0 20.0 67 62 8.1
Bankruptcies 5 2 4 150.0 25.0 46 50 -8.0
Proposals 1 0 1 -- 0.0 21 12 75.0
Administrative and Support, Waste Management and Remediation Services 26 15 16 73.3 62.5 200 200 0.0
Bankruptcies 19 9 13 111.1 46.2 141 149 -5.4
Proposals 7 6 3 16.7 133.3 59 51 15.7
Educational Services 7 6 4 16.7 75.0 43 32 34.4
Bankruptcies 7 5 3 40.0 133.3 37 25 48.0
Proposals 0 1 1 -100.0 -100.0 6 7 -14.3
Health Care and Social Assistance 7 9 8 -22.2 -12.5 75 56 33.9
Bankruptcies 6 8 8 -25.0 -25.0 56 45 24.4
Proposals 1 1 0 0.0 -- 19 11 72.7
Arts, Entertainment and Recreation 7 10 10 -30.0 -30.0 81 83 -2.4
Bankruptcies 6 10 9 -40.0 -33.3 69 67 3.0
Proposals 1 0 1 -- 0.0 12 16 -25.0
Accommodation and Food Services 56 52 62 7.7 -9.7 649 624 4.0
Bankruptcies 36 43 47 -16.3 -23.4 473 444 6.5
Proposals 20 9 15 122.2 33.3 176 180 -2.2
Other Services (except Public Administration) 24 21 26 14.3 -7.7 252 259 -2.7
Bankruptcies 23 15 17 53.3 35.3 201 200 0.5
Proposals 1 6 9 -83.3 -88.9 51 59 -13.6
Public Administration 1 0 0 -- -- 1 0 --
Bankruptcies 1 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 394 381 400 3.4 -1.5 4,250 4,283 -0.8
Bankruptcies 297 281 300 5.7 -1.0 3,153 3,183 -0.9
Proposals 97 100 100 -3.0 -3.0 1,097 1,100 -0.3
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