Insolvency Statistics in Canada—June 2014

Detailed report

PDF version

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
June 2014 May 2014 June 2013 May 2014
to
June 2014
June 2013
to
June 2014
06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 134 153 140 -12.4 -4.3 1,612 1,748 -7.8
Bankruptcies 121 136 136 -11.0 -11.0 1,438 1,615 -11.0
Bankruptcies 13 17 4 -23.5 225.0 174 133 30.8
Prince Edward Island 58 67 46 -13.4 26.1 713 604 18.0
Bankruptcies 44 48 36 -8.3 22.2 493 467 5.6
Bankruptcies 14 19 10 -26.3 40.0 220 137 60.6
Nova Scotia 445 524 419 -15.1 6.2 5,029 4,424 13.7
Bankruptcies 303 394 273 -23.1 11.0 3,524 3,192 10.4
Bankruptcies 142 130 146 9.2 -2.7 1,505 1,232 22.2
New Brunswick 333 416 347 -20.0 -4.0 4,231 3,809 11.1
Bankruptcies 231 298 241 -22.5 -4.1 2,964 2,822 5.0
Bankruptcies 102 118 106 -13.6 -3.8 1,267 987 28.4
Quebec 3,321 3,921 3,258 -15.3 1.9 42,736 39,827 7.3
Bankruptcies 2,038 2,393 2,112 -14.8 -3.5 26,389 26,147 0.9
Bankruptcies 1,283 1,528 1,146 -16.0 12.0 16,347 13,680 19.5
Ontario 3,451 3,806 3,660 -9.3 -5.7 43,612 46,679 -6.6
Bankruptcies 1,591 1,883 1,868 -15.5 -14.8 21,325 23,366 -8.7
Bankruptcies 1,860 1,923 1,792 -3.3 3.8 22,287 23,313 -4.4
Manitoba 171 172 153 -0.6 11.8 1,921 1,861 3.2
Bankruptcies 99 105 107 -5.7 -7.5 1,234 1,267 -2.6
Bankruptcies 72 67 46 7.5 56.5 687 594 15.7
Saskatchewan 158 179 134 -11.7 17.9 1,960 1,749 12.1
Bankruptcies 88 112 73 -21.4 20.5 1,187 1,043 13.8
Bankruptcies 70 67 61 4.5 14.8 773 706 9.5
Alberta 712 785 681 -9.3 4.6 8,302 8,983 -7.6
Bankruptcies 332 382 384 -13.1 -13.5 4,312 5,346 -19.3
Bankruptcies 380 403 297 -5.7 27.9 3,990 3,637 9.7
British Columbia 1,031 1,118 1,014 -7.8 1.7 11,811 11,851 -0.3
Bankruptcies 593 655 595 -9.5 -0.3 7,027 7,455 -5.7
Bankruptcies 438 463 419 -5.4 4.5 4,784 4,396 8.8
Northwest Territories 5 4 5 25.0 0.0 56 47 19.1
Bankruptcies 3 3 4 0.0 -25.0 33 25 32.0
Bankruptcies 2 1 1 100.0 100.0 23 22 4.5
Yukon 1 4 3 -75.0 -66.7 35 43 -18.6
Bankruptcies 1 2 3 -50.0 -66.7 24 26 -7.7
Bankruptcies 0 2 0 -100.0 -- 11 17 -35.3
Nunavut 0 0 1 -- -100.0 6 5 20.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Bankruptcies 0 0 1 -- -100.0 2 3 -33.3
Canada 9,820 11,149 9,861 -11.9 -0.4 122,024 121,630 0.3
Bankruptcies 5,444 6,411 5,832 -15.1 -6.7 69,954 72,773 -3.9
Bankruptcies 4,376 4,738 4,029 -7.6 8.6 52,070 48,857 6.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2014 May 2014 June 2013 May 2014
to
June 2014
June 2013
to
June 2014
06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 132 150 139 -12.0 -5.0 1,579 1,723 -8.4
Bankruptcies 119 134 135 -11.2 -11.9 1,416 1,597 -11.3
Bankruptcies 13 16 4 -18.8 225.0 163 126 29.4
Prince Edward Island 53 66 45 -19.7 17.8 690 591 16.8
Bankruptcies 40 47 36 -14.9 11.1 476 456 4.4
Bankruptcies 13 19 9 -31.6 44.4 214 135 58.5
Nova Scotia 441 512 408 -13.9 8.1 4,935 4,311 14.5
Bankruptcies 301 384 265 -21.6 13.6 3,459 3,105 11.4
Bankruptcies 140 128 143 9.4 -2.1 1,476 1,206 22.4
New Brunswick 325 410 337 -20.7 -3.6 4,139 3,738 10.7
Bankruptcies 224 293 234 -23.5 -4.3 2,892 2,770 4.4
Bankruptcies 101 117 103 -13.7 -1.9 1,247 968 28.8
Quebec 3,155 3,723 3,093 -15.3 2.0 40,499 37,751 7.3
Bankruptcies 1,918 2,256 2,000 -15.0 -4.1 24,727 24,630 0.4
Bankruptcies 1,237 1,467 1,093 -15.7 13.2 15,772 13,121 20.2
Ontario 3,369 3,713 3,564 -9.3 -5.5 42,488 45,403 -6.4
Bankruptcies 1,532 1,808 1,803 -15.3 -15.0 20,462 22,380 -8.6
Bankruptcies 1,837 1,905 1,761 -3.6 4.3 22,026 23,023 -4.3
Manitoba 166 167 150 -0.6 10.7 1,846 1,811 1.9
Bankruptcies 94 102 104 -7.8 -9.6 1,171 1,223 -4.3
Bankruptcies 72 65 46 10.8 56.5 675 588 14.8
Saskatchewan 143 169 122 -15.4 17.2 1,830 1,629 12.3
Bankruptcies 81 105 65 -22.9 24.6 1,110 975 13.8
Bankruptcies 62 64 57 -3.1 8.8 720 654 10.1
Alberta 708 768 669 -7.8 5.8 8,144 8,749 -6.9
Bankruptcies 329 369 375 -10.8 -12.3 4,197 5,179 -19.0
Bankruptcies 379 399 294 -5.0 28.9 3,947 3,570 10.6
British Columbia 1,003 1,092 992 -8.2 1.1 11,560 11,571 -0.1
Bankruptcies 568 634 578 -10.4 -1.7 6,839 7,255 -5.7
Bankruptcies 435 458 414 -5.0 5.1 4,721 4,316 9.4
Northwest Territories 5 4 5 25.0 0.0 56 47 19.1
Bankruptcies 3 3 4 0.0 -25.0 33 25 32.0
Bankruptcies 2 1 1 100.0 100.0 23 22 4.5
Yukon 1 4 3 -75.0 -66.7 35 41 -14.6
Bankruptcies 1 2 3 -50.0 -66.7 24 24 0.0
Bankruptcies 0 2 0 -100.0 -- 11 17 -35.3
Nunavut 0 0 1 -- -100.0 6 4 50.0
Bankruptcies 0 0 0 -- -- 4 1 300.0
Bankruptcies 0 0 1 -- -100.0 2 3 -33.3
Canada 9,501 10,778 9,528 -11.8 -0.3 117,807 117,369 0.4
Bankruptcies 5,210 6,137 5,602 -15.1 -7.0 66,810 69,620 -4.0
Bankruptcies 4,291 4,641 3,926 -7.5 9.3 50,997 47,749 6.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2014 May 2014 June 2013 May 2014
to
June 2014
June 2013
to
June 2014
06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 2 3 1 -33.3 100.0 33 25 32.0
Bankruptcies 2 2 1 0.0 100.0 22 18 22.2
Bankruptcies 0 1 0 -100.0 -- 11 7 57.1
Prince Edward Island 5 1 1 400.0 400.0 23 13 76.9
Bankruptcies 4 1 0 300.0 -- 17 11 54.5
Bankruptcies 1 0 1 -- 0.0 6 2 200.0
Nova Scotia 4 12 11 -66.7 -63.6 94 113 -16.8
Bankruptcies 2 10 8 -80.0 -75.0 65 87 -25.3
Bankruptcies 2 2 3 0.0 -33.3 29 26 11.5
New Brunswick 8 6 10 33.3 -20.0 92 71 29.6
Bankruptcies 7 5 7 40.0 0.0 72 52 38.5
Bankruptcies 1 1 3 0.0 -66.7 20 19 5.3
Quebec 166 198 165 -16.2 0.6 2,237 2,076 7.8
Bankruptcies 120 137 112 -12.4 7.1 1,662 1,517 9.6
Bankruptcies 46 61 53 -24.6 -13.2 575 559 2.9
Ontario 82 93 96 -11.8 -14.6 1,124 1,276 -11.9
Bankruptcies 59 75 65 -21.3 -9.2 863 986 -12.5
Bankruptcies 23 18 31 27.8 -25.8 261 290 -10.0
Manitoba 5 5 3 0.0 66.7 75 50 50.0
Bankruptcies 5 3 3 66.7 66.7 63 44 43.2
Bankruptcies 0 2 0 -100.0 -- 12 6 100.0
Saskatchewan 15 10 12 50.0 25.0 130 120 8.3
Bankruptcies 7 7 8 0.0 -12.5 77 68 13.2
Bankruptcies 8 3 4 166.7 100.0 53 52 1.9
Alberta 4 17 12 -76.5 -66.7 158 234 -32.5
Bankruptcies 3 13 9 -76.9 -66.7 115 167 -31.1
Bankruptcies 1 4 3 -75.0 -66.7 43 67 -35.8
British Columbia 28 26 22 7.7 27.3 251 280 -10.4
Bankruptcies 25 21 17 19.0 47.1 188 200 -6.0
Bankruptcies 3 5 5 -40.0 -40.0 63 80 -21.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Canada 319 371 333 -14.0 -4.2 4,217 4,261 -1.0
Bankruptcies 234 274 230 -14.6 1.7 3,144 3,153 -0.3
Bankruptcies 85 97 103 -12.4 -17.5 1,073 1,108 -3.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
June 2014 May 2014 June 2013 May 2014
to
June 2014
June 2013
to
June 2014
06-30-2014 06-30-2013 % Change
Agriculture, Forestry, Fishing and Hunting 12 6 6 100.0 100.0 130 100 30.0
Bankruptcies 6 6 6 0.0 0.0 89 73 21.9
Bankruptcies 6 0 0 -- -- 41 27 51.9
Mining and Oil and Gas Extraction 2 1 3 100.0 -33.3 38 44 -13.6
Bankruptcies 0 1 1 -100.0 -100.0 18 29 -37.9
Bankruptcies 2 0 2 -- 0.0 20 15 33.3
Utilities 0 1 0 -100.0 -- 10 15 -33.3
Bankruptcies 0 0 0 -- -- 6 6 0.0
Bankruptcies 0 1 0 -100.0 -- 4 9 -55.6
Construction 63 76 57 -17.1 10.5 759 761 -0.3
Bankruptcies 48 56 42 -14.3 14.3 567 561 1.1
Bankruptcies 15 20 15 -25.0 0.0 192 200 -4.0
Manufacturing 33 38 34 -13.2 -2.9 402 429 -6.3
Bankruptcies 25 27 21 -7.4 19.0 291 294 -1.0
Bankruptcies 8 11 13 -27.3 -38.5 111 135 -17.8
Wholesale Trade 15 22 11 -31.8 36.4 234 224 4.5
Bankruptcies 7 18 5 -61.1 40.0 159 157 1.3
Bankruptcies 8 4 6 100.0 33.3 75 67 11.9
Retail Trade 39 39 39 0.0 0.0 503 535 -6.0
Bankruptcies 28 29 28 -3.4 0.0 402 414 -2.9
Bankruptcies 11 10 11 10.0 0.0 101 121 -16.5
Transportation and Warehousing 17 9 20 88.9 -15.0 233 257 -9.3
Bankruptcies 13 7 14 85.7 -7.1 182 207 -12.1
Bankruptcies 4 2 6 100.0 -33.3 51 50 2.0
Information and Cultural Industries 1 5 5 -80.0 -80.0 49 63 -22.2
Bankruptcies 1 4 4 -75.0 -75.0 33 53 -37.7
Bankruptcies 0 1 1 -100.0 -100.0 16 10 60.0
Finance and Insurance 4 2 4 100.0 0.0 68 78 -12.8
Bankruptcies 3 2 3 50.0 0.0 51 65 -21.5
Bankruptcies 1 0 1 -- 0.0 17 13 30.8
Real Estate and Rental and Leasing 17 12 15 41.7 13.3 154 125 23.2
Bankruptcies 13 9 14 44.4 -7.1 112 96 16.7
Bankruptcies 4 3 1 33.3 300.0 42 29 44.8
Professional, Scientific and Technical Services 18 33 20 -45.5 -10.0 296 289 2.4
Bankruptcies 14 22 10 -36.4 40.0 217 213 1.9
Bankruptcies 4 11 10 -63.6 -60.0 79 76 3.9
Management of Companies and Enterprises 4 8 9 -50.0 -55.6 63 66 -4.5
Bankruptcies 4 5 6 -20.0 -33.3 46 49 -6.1
Bankruptcies 0 3 3 -100.0 -100.0 17 17 0.0
Administrative and Support, Waste Management and Remediation Services 23 17 19 35.3 21.1 202 195 3.6
Bankruptcies 17 11 15 54.5 13.3 140 147 -4.8
Bankruptcies 6 6 4 0.0 50.0 62 48 29.2
Educational Services 5 8 5 -37.5 0.0 50 31 61.3
Bankruptcies 5 7 2 -28.6 150.0 47 22 113.6
Bankruptcies 0 1 3 -100.0 -100.0 3 9 -66.7
Health Care and Social Assistance 4 10 6 -60.0 -33.3 78 58 34.5
Bankruptcies 2 8 5 -75.0 -60.0 57 47 21.3
Bankruptcies 2 2 1 0.0 100.0 21 11 90.9
Arts, Entertainment and Recreation 1 13 5 -92.3 -80.0 84 82 2.4
Bankruptcies 1 10 4 -90.0 -75.0 71 66 7.6
Bankruptcies 0 3 1 -100.0 -100.0 13 16 -18.8
Accommodation and Food Services 47 52 56 -9.6 -16.1 618 644 -4.0
Bankruptcies 36 37 37 -2.7 -2.7 459 453 1.3
Bankruptcies 11 15 19 -26.7 -42.1 159 191 -16.8
Other Services (except Public Administration) 14 19 19 -26.3 -26.3 245 265 -7.5
Bankruptcies 11 15 13 -26.7 -15.4 196 201 -2.5
Bankruptcies 3 4 6 -25.0 -50.0 49 64 -23.4
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Total 319 371 333 -14.0 -4.2 4,217 4,261 -1.0
Bankruptcies 234 274 230 -14.6 1.7 3,144 3,153 -0.3
Bankruptcies 85 97 103 -12.4 -17.5 1,073 1,108 -3.2
Date modified: