Insolvency Statistics in Canada—May 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
May 2014 Apr. 2014 May 2013 Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-2014 05-31-2013 % Change
Newfoundland and Labrador 153 146 184 4.8 -16.8 1,618 1,769 -8.5
Bankruptcies 136 134 163 1.5 -16.6 1,453 1,625 -10.6
Proposals 17 12 21 41.7 -19.0 165 144 14.6
Prince Edward Island 67 55 49 21.8 36.7 701 613 14.4
Bankruptcies 48 43 34 11.6 41.2 485 471 3.0
Proposals 19 12 15 58.3 26.7 216 142 52.1
Nova Scotia 524 500 445 4.8 17.8 5,003 4,384 14.1
Bankruptcies 394 359 325 9.7 21.2 3,494 3,203 9.1
Proposals 130 141 120 -7.8 8.3 1,509 1,181 27.8
New Brunswick 416 430 372 -3.3 11.8 4,245 3,811 11.4
Bankruptcies 298 304 277 -2.0 7.6 2,974 2,852 4.3
Proposals 118 126 95 -6.3 24.2 1,271 959 32.5
Quebec 3,921 3,953 3,944 -0.8 -0.6 42,673 39,510 8.0
Bankruptcies 2,393 2,431 2,537 -1.6 -5.7 26,463 26,074 1.5
Proposals 1,528 1,522 1,407 0.4 8.6 16,210 13,436 20.6
Ontario 3,806 3,871 4,271 -1.7 -10.9 43,821 47,193 -7.1
Bankruptcies 1,883 1,846 2,163 2.0 -12.9 21,602 23,592 -8.4
Proposals 1,923 2,025 2,108 -5.0 -8.8 22,219 23,601 -5.9
Manitoba 172 176 180 -2.3 -4.4 1,903 1,871 1.7
Bankruptcies 105 116 118 -9.5 -11.0 1,242 1,267 -2.0
Proposals 67 60 62 11.7 8.1 661 604 9.4
Saskatchewan 179 196 169 -8.7 5.9 1,936 1,783 8.6
Bankruptcies 112 109 98 2.8 14.3 1,172 1,070 9.5
Proposals 67 87 71 -23.0 -5.6 764 713 7.2
Alberta 785 790 790 -0.6 -0.6 8,271 9,142 -9.5
Bankruptcies 382 376 445 1.6 -14.2 4,364 5,468 -20.2
Proposals 403 414 345 -2.7 16.8 3,907 3,674 6.3
British Columbia 1,118 1,008 1,168 10.9 -4.3 11,794 11,850 -0.5
Bankruptcies 655 625 700 4.8 -6.4 7,029 7,512 -6.4
Proposals 463 383 468 20.9 -1.1 4,765 4,338 9.8
Northwest Territories 4 2 2 100.0 100.0 56 45 24.4
Bankruptcies 3 0 1 -- 200.0 34 23 47.8
Proposals 1 2 1 -50.0 0.0 22 22 0.0
Yukon 4 6 3 -33.3 33.3 37 43 -14.0
Bankruptcies 2 3 2 -33.3 0.0 26 25 4.0
Proposals 2 3 1 -33.3 100.0 11 18 -38.9
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 11,149 11,133 11,577 0.1 -3.7 122,065 122,018 0.0
Bankruptcies 6,411 6,346 6,863 1.0 -6.6 70,342 73,184 -3.9
Proposals 4,738 4,787 4,714 -1.0 0.5 51,723 48,834 5.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2014 Apr. 2014 May 2013 Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-2014 05-31-2013 % Change
Newfoundland and Labrador 150 145 179 3.4 -16.2 1,586 1,745 -9.1
Bankruptcies 134 133 159 0.8 -15.7 1,432 1,608 -10.9
Proposals 16 12 20 33.3 -20.0 154 137 12.4
Prince Edward Island 66 55 49 20.0 34.7 682 598 14.0
Bankruptcies 47 43 34 9.3 38.2 472 458 3.1
Proposals 19 12 15 58.3 26.7 210 140 50.0
Nova Scotia 512 493 437 3.9 17.2 4,902 4,273 14.7
Bankruptcies 384 354 319 8.5 20.4 3,423 3,115 9.9
Proposals 128 139 118 -7.9 8.5 1,479 1,158 27.7
New Brunswick 410 423 366 -3.1 12.0 4,151 3,747 10.8
Bankruptcies 293 300 272 -2.3 7.7 2,902 2,804 3.5
Proposals 117 123 94 -4.9 24.5 1,249 943 32.4
Quebec 3,723 3,716 3,735 0.2 -0.3 40,437 37,436 8.0
Bankruptcies 2,256 2,251 2,384 0.2 -5.4 24,809 24,541 1.1
Proposals 1,467 1,465 1,351 0.1 8.6 15,628 12,895 21.2
Ontario 3,713 3,775 4,166 -1.6 -10.9 42,683 45,902 -7.0
Bankruptcies 1,808 1,777 2,085 1.7 -13.3 20,733 22,587 -8.2
Proposals 1,905 1,998 2,081 -4.7 -8.5 21,950 23,315 -5.9
Manitoba 167 167 178 0.0 -6.2 1,830 1,819 0.6
Bankruptcies 102 107 117 -4.7 -12.8 1,181 1,225 -3.6
Proposals 65 60 61 8.3 6.6 649 594 9.3
Saskatchewan 169 186 159 -9.1 6.3 1,809 1,667 8.5
Bankruptcies 105 103 91 1.9 15.4 1,094 1,004 9.0
Proposals 64 83 68 -22.9 -5.9 715 663 7.8
Alberta 768 780 773 -1.5 -0.6 8,105 8,889 -8.8
Bankruptcies 369 367 434 0.5 -15.0 4,243 5,288 -19.8
Proposals 399 413 339 -3.4 17.7 3,862 3,601 7.2
British Columbia 1,092 991 1,140 10.2 -4.2 11,549 11,583 -0.3
Bankruptcies 634 611 678 3.8 -6.5 6,849 7,321 -6.4
Proposals 458 380 462 20.5 -0.9 4,700 4,262 10.3
Northwest Territories 4 2 2 100.0 100.0 56 45 24.4
Bankruptcies 3 0 1 -- 200.0 34 23 47.8
Proposals 1 2 1 -50.0 0.0 22 22 0.0
Yukon 4 6 3 -33.3 33.3 37 41 -9.8
Bankruptcies 2 3 2 -33.3 0.0 26 23 13.0
Proposals 2 3 1 -33.3 100.0 11 18 -38.9
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 10,778 10,739 11,187 0.4 -3.7 117,834 117,748 0.1
Bankruptcies 6,137 6,049 6,576 1.5 -6.7 67,202 69,998 -4.0
Proposals 4,641 4,690 4,611 -1.0 0.7 50,632 47,750 6.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2014 Apr. 2014 May 2013 Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-2014 05-31-2013 % Change
Newfoundland and Labrador 3 1 5 200.0 -40.0 32 24 33.3
Bankruptcies 2 1 4 100.0 -50.0 21 17 23.5
Proposals 1 0 1 -- 0.0 11 7 57.1
Prince Edward Island 1 0 0 -- -- 19 15 26.7
Bankruptcies 1 0 0 -- -- 13 13 0.0
Proposals 0 0 0 -- -- 6 2 200.0
Nova Scotia 12 7 8 71.4 50.0 101 111 -9.0
Bankruptcies 10 5 6 100.0 66.7 71 88 -19.3
Proposals 2 2 2 0.0 0.0 30 23 30.4
New Brunswick 6 7 6 -14.3 0.0 94 64 46.9
Bankruptcies 5 4 5 25.0 0.0 72 48 50.0
Proposals 1 3 1 -66.7 0.0 22 16 37.5
Quebec 198 237 209 -16.5 -5.3 2,236 2,074 7.8
Bankruptcies 137 180 153 -23.9 -10.5 1,654 1,533 7.9
Proposals 61 57 56 7.0 8.9 582 541 7.6
Ontario 93 96 105 -3.1 -11.4 1,138 1,291 -11.9
Bankruptcies 75 69 78 8.7 -3.8 869 1,005 -13.5
Proposals 18 27 27 -33.3 -33.3 269 286 -5.9
Manitoba 5 9 2 -44.4 150.0 73 52 40.4
Bankruptcies 3 9 1 -66.7 200.0 61 42 45.2
Proposals 2 0 1 -- 100.0 12 10 20.0
Saskatchewan 10 10 10 0.0 0.0 127 116 9.5
Bankruptcies 7 6 7 16.7 0.0 78 66 18.2
Proposals 3 4 3 -25.0 0.0 49 50 -2.0
Alberta 17 10 17 70.0 0.0 166 253 -34.4
Bankruptcies 13 9 11 44.4 18.2 121 180 -32.8
Proposals 4 1 6 300.0 -33.3 45 73 -38.4
British Columbia 26 17 28 52.9 -7.1 245 267 -8.2
Bankruptcies 21 14 22 50.0 -4.5 180 191 -5.8
Proposals 5 3 6 66.7 -16.7 65 76 -14.5
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 2 -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 371 394 390 -5.8 -4.9 4,231 4,270 -0.9
Bankruptcies 274 297 287 -7.7 -4.5 3,140 3,186 -1.4
Proposals 97 97 103 0.0 -5.8 1,091 1,084 0.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
May 2014 Apr. 2014 May 2013 Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-2014 05-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 6 5 10 20.0 -40.0 124 107 15.9
Bankruptcies 6 3 7 100.0 -14.3 89 77 15.6
Proposals 0 2 3 -100.0 -100.0 35 30 16.7
Mining and Oil and Gas Extraction 1 6 5 -83.3 -80.0 39 44 -11.4
Bankruptcies 1 4 3 -75.0 -66.7 19 30 -36.7
Proposals 0 2 2 -100.0 -100.0 20 14 42.9
Utilities 1 0 0 -- -- 10 17 -41.2
Bankruptcies 0 0 0 -- -- 6 8 -25.0
Proposals 1 0 0 -- -- 4 9 -55.6
Construction 76 69 64 10.1 18.8 753 782 -3.7
Bankruptcies 56 49 50 14.3 12.0 561 575 -2.4
Proposals 20 20 14 0.0 42.9 192 207 -7.2
Manufacturing 38 28 36 35.7 5.6 403 420 -4.0
Bankruptcies 27 21 24 28.6 12.5 287 290 -1.0
Proposals 11 7 12 57.1 -8.3 116 130 -10.8
Wholesale Trade 22 26 20 -15.4 10.0 230 237 -3.0
Bankruptcies 18 18 14 0.0 28.6 157 170 -7.6
Proposals 4 8 6 -50.0 -33.3 73 67 9.0
Retail Trade 39 39 43 0.0 -9.3 503 543 -7.4
Bankruptcies 29 30 32 -3.3 -9.4 402 420 -4.3
Proposals 10 9 11 11.1 -9.1 101 123 -17.9
Transportation and Warehousing 9 27 21 -66.7 -57.1 236 261 -9.6
Bankruptcies 7 20 15 -65.0 -53.3 183 213 -14.1
Proposals 2 7 6 -71.4 -66.7 53 48 10.4
Information and Cultural Industries 5 7 9 -28.6 -44.4 53 64 -17.2
Bankruptcies 4 5 9 -20.0 -55.6 36 54 -33.3
Proposals 1 2 0 -50.0 -- 17 10 70.0
Finance and Insurance 2 4 10 -50.0 -80.0 68 78 -12.8
Bankruptcies 2 3 9 -33.3 -77.8 51 66 -22.7
Proposals 0 1 1 -100.0 -100.0 17 12 41.7
Real Estate and Rental and Leasing 12 19 12 -36.8 0.0 152 113 34.5
Bankruptcies 9 14 10 -35.7 -10.0 113 85 32.9
Proposals 3 5 2 -40.0 50.0 39 28 39.3
Professional, Scientific and Technical Services 33 30 27 10.0 22.2 298 289 3.1
Bankruptcies 22 27 20 -18.5 10.0 213 218 -2.3
Proposals 11 3 7 266.7 57.1 85 71 19.7
Management of Companies and Enterprises 8 6 7 33.3 14.3 68 62 9.7
Bankruptcies 5 5 3 0.0 66.7 48 48 0.0
Proposals 3 1 4 200.0 -25.0 20 14 42.9
Administrative and Support, Waste Management and Remediation Services 17 26 19 -34.6 -10.5 198 196 1.0
Bankruptcies 11 19 14 -42.1 -21.4 138 147 -6.1
Proposals 6 7 5 -14.3 20.0 60 49 22.4
Educational Services 8 7 1 14.3 700.0 50 28 78.6
Bankruptcies 7 7 0 0.0 -- 44 22 100.0
Proposals 1 0 1 -- 0.0 6 6 0.0
Health Care and Social Assistance 10 7 5 42.9 100.0 80 55 45.5
Bankruptcies 8 6 4 33.3 100.0 60 45 33.3
Proposals 2 1 1 100.0 100.0 20 10 100.0
Arts, Entertainment and Recreation 13 7 6 85.7 116.7 88 83 6.0
Bankruptcies 10 6 5 66.7 100.0 74 67 10.4
Proposals 3 1 1 200.0 200.0 14 16 -12.5
Accommodation and Food Services 52 56 74 -7.1 -29.7 627 634 -1.1
Bankruptcies 37 36 50 2.8 -26.0 460 453 1.5
Proposals 15 20 24 -25.0 -37.5 167 181 -7.7
Other Services (except Public Administration) 19 24 21 -20.8 -9.5 250 257 -2.7
Bankruptcies 15 23 18 -34.8 -16.7 198 198 0.0
Proposals 4 1 3 300.0 33.3 52 59 -11.9
Public Administration 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 1 0 -100.0 -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 371 394 390 -5.8 -4.9 4,231 4,270 -0.9
Bankruptcies 274 297 287 -7.7 -4.5 3,140 3,186 -1.4
Proposals 97 97 103 0.0 -5.8 1,091 1,084 0.6
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