Insolvency Statistics in Canada—July 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
July 2014 June 2014 July 2013 June 2014
to
July 2014
July 2013
to
July 2014
07-31-2014 07-31-2013 % Change
Newfoundland and Labrador 126 134 156 -6.0 -19.2 1,582 1,764 -10.3
Bankruptcies 111 121 140 -8.3 -20.7 1,409 1,629 -13.5
Proposals 15 13 16 15.4 -6.3 173 135 28.1
Prince Edward Island 73 58 73 25.9 0.0 713 616 15.7
Bankruptcies 53 44 53 20.5 0.0 493 475 3.8
Proposals 20 14 20 42.9 0.0 220 141 56.0
Nova Scotia 499 445 395 12.1 26.3 5,133 4,465 15.0
Bankruptcies 356 303 264 17.5 34.8 3,616 3,190 13.4
Proposals 143 142 131 0.7 9.2 1,517 1,275 19.0
New Brunswick 358 333 369 7.5 -3.0 4,220 3,866 9.2
Bankruptcies 254 231 267 10.0 -4.9 2,951 2,876 2.6
Proposals 104 102 102 2.0 2.0 1,269 990 28.2
Quebec 3,495 3,321 3,368 5.2 3.8 42,863 40,408 6.1
Bankruptcies 2,095 2,038 2,219 2.8 -5.6 26,265 26,446 -0.7
Proposals 1,400 1,283 1,149 9.1 21.8 16,598 13,962 18.9
Ontario 3,634 3,451 3,681 5.3 -1.3 43,565 46,544 -6.4
Bankruptcies 1,714 1,591 1,906 7.7 -10.1 21,133 23,317 -9.4
Proposals 1,920 1,860 1,775 3.2 8.2 22,432 23,227 -3.4
Manitoba 156 171 164 -8.8 -4.9 1,913 1,881 1.7
Bankruptcies 107 99 107 8.1 0.0 1,234 1,271 -2.9
Proposals 49 72 57 -31.9 -14.0 679 610 11.3
Saskatchewan 182 158 145 15.2 25.5 1,997 1,748 14.2
Bankruptcies 99 88 97 12.5 2.1 1,189 1,051 13.1
Proposals 83 70 48 18.6 72.9 808 697 15.9
Alberta 655 712 678 -8.0 -3.4 8,279 8,857 -6.5
Bankruptcies 303 332 394 -8.7 -23.1 4,221 5,235 -19.4
Proposals 352 380 284 -7.4 23.9 4,058 3,622 12.0
British Columbia 1,044 1,031 1,037 1.3 0.7 11,818 11,897 -0.7
Bankruptcies 581 593 594 -2.0 -2.2 7,014 7,404 -5.3
Proposals 463 438 443 5.7 4.5 4,804 4,493 6.9
Northwest Territories 2 5 8 -60.0 -75.0 50 51 -2.0
Bankruptcies 2 3 6 -33.3 -66.7 29 29 0.0
Proposals 0 2 2 -100.0 -100.0 21 22 -4.5
Yukon 6 1 2 500.0 200.0 39 41 -4.9
Bankruptcies 3 1 2 200.0 50.0 25 26 -3.8
Proposals 3 0 0 -- -- 14 15 -6.7
Nunavut 0 0 0 -- -- 6 3 100.0
Bankruptcies 0 0 0 -- -- 4 1 300.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,230 9,820 10,076 4.2 1.5 122,178 122,141 0.0
Bankruptcies 5,678 5,444 6,049 4.3 -6.1 69,583 72,950 -4.6
Proposals 4,552 4,376 4,027 4.0 13.0 52,595 49,191 6.9
 
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2014 June 2014 July 2013 June 2014
to
July 2014
July 2013
to
July 2014
07-31-2014 07-31-2013 % Change
Newfoundland and Labrador 126 132 154 -4.5 -18.2 1,551 1,739 -10.8
Bankruptcies 111 119 140 -6.7 -20.7 1,387 1,612 -14.0
Proposals 15 13 14 15.4 7.1 164 127 29.1
Prince Edward Island 69 53 73 30.2 -5.5 686 604 13.6
Bankruptcies 51 40 53 27.5 -3.8 474 465 1.9
Proposals 18 13 20 38.5 -10.0 212 139 52.5
Nova Scotia 490 441 389 11.1 26.0 5,036 4,355 15.6
Bankruptcies 350 301 259 16.3 35.1 3,550 3,105 14.3
Proposals 140 140 130 0.0 7.7 1,486 1,250 18.9
New Brunswick 352 325 364 8.3 -3.3 4,127 3,796 8.7
Bankruptcies 250 224 262 11.6 -4.6 2,880 2,823 2.0
Proposals 102 101 102 1.0 0.0 1,247 973 28.2
Quebec 3,327 3,155 3,192 5.5 4.2 40,634 38,297 6.1
Bankruptcies 1,967 1,918 2,081 2.6 -5.5 24,613 24,904 -1.2
Proposals 1,360 1,237 1,111 9.9 22.4 16,021 13,393 19.6
Ontario 3,552 3,369 3,592 5.4 -1.1 42,448 45,275 -6.2
Bankruptcies 1,644 1,532 1,835 7.3 -10.4 20,271 22,337 -9.2
Proposals 1,908 1,837 1,757 3.9 8.6 22,177 22,938 -3.3
Manitoba 153 166 157 -7.8 -2.5 1,842 1,828 0.8
Bankruptcies 105 94 104 11.7 1.0 1,172 1,228 -4.6
Proposals 48 72 53 -33.3 -9.4 670 600 11.7
Saskatchewan 175 143 133 22.4 31.6 1,872 1,625 15.2
Bankruptcies 95 81 89 17.3 6.7 1,116 977 14.2
Proposals 80 62 44 29.0 81.8 756 648 16.7
Alberta 642 708 669 -9.3 -4.0 8,117 8,633 -6.0
Bankruptcies 296 329 385 -10.0 -23.1 4,108 5,075 -19.1
Proposals 346 379 284 -8.7 21.8 4,009 3,558 12.7
British Columbia 1,017 1,003 1,024 1.4 -0.7 11,553 11,632 -0.7
Bankruptcies 559 568 586 -1.6 -4.6 6,812 7,217 -5.6
Proposals 458 435 438 5.3 4.6 4,741 4,415 7.4
Northwest Territories 2 5 8 -60.0 -75.0 50 51 -2.0
Bankruptcies 2 3 6 -33.3 -66.7 29 29 0.0
Proposals 0 2 2 -100.0 -100.0 21 22 -4.5
Yukon 6 1 2 500.0 200.0 39 39 0.0
Bankruptcies 3 1 2 200.0 50.0 25 24 4.2
Proposals 3 0 0 -- -- 14 15 -6.7
Nunavut 0 0 0 -- -- 6 3 100.0
Bankruptcies 0 0 0 -- -- 4 1 300.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,911 9,501 9,757 4.3 1.6 117,961 117,877 0.1
Bankruptcies 5,433 5,210 5,802 4.3 -6.4 66,441 69,797 -4.8
Proposals 4,478 4,291 3,955 4.4 13.2 51,520 48,080 7.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2014 June 2014 July 2013 June 2014
to
July 2014
July 2013
to
July 2014
07-31-2014 07-31-2013 % Change
Newfoundland and Labrador 0 2 2 -100.0 -100.0 31 25 24.0
Bankruptcies 0 2 0 -100.0 -- 22 17 29.4
Proposals 0 0 2 -- -100.0 9 8 12.5
Prince Edward Island 4 5 0 -20.0 -- 27 12 125.0
Bankruptcies 2 4 0 -50.0 -- 19 10 90.0
Proposals 2 1 0 100.0 -- 8 2 300.0
Nova Scotia 9 4 6 125.0 50.0 97 110 -11.8
Bankruptcies 6 2 5 200.0 20.0 66 85 -22.4
Proposals 3 2 1 50.0 200.0 31 25 24.0
New Brunswick 6 8 5 -25.0 20.0 93 70 32.9
Bankruptcies 4 7 5 -42.9 -20.0 71 53 34.0
Proposals 2 1 0 100.0 -- 22 17 29.4
Quebec 168 166 176 1.2 -4.5 2,229 2,111 5.6
Bankruptcies 128 120 138 6.7 -7.2 1,652 1,542 7.1
Proposals 40 46 38 -13.0 5.3 577 569 1.4
Ontario 82 82 89 0.0 -7.9 1,117 1,269 -12.0
Bankruptcies 70 59 71 18.6 -1.4 862 980 -12.0
Proposals 12 23 18 -47.8 -33.3 255 289 -11.8
Manitoba 3 5 7 -40.0 -57.1 71 53 34.0
Bankruptcies 2 5 3 -60.0 -33.3 62 43 44.2
Proposals 1 0 4 -- -75.0 9 10 -10.0
Saskatchewan 7 15 12 -53.3 -41.7 125 123 1.6
Bankruptcies 4 7 8 -42.9 -50.0 73 74 -1.4
Proposals 3 8 4 -62.5 -25.0 52 49 6.1
Alberta 13 4 9 225.0 44.4 162 224 -27.7
Bankruptcies 7 3 9 133.3 -22.2 113 160 -29.4
Proposals 6 1 0 500.0 -- 49 64 -23.4
British Columbia 27 28 13 -3.6 107.7 265 265 0.0
Bankruptcies 22 25 8 -12.0 175.0 202 187 8.0
Proposals 5 3 5 66.7 0.0 63 78 -19.2
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 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 319 319 319 0.0 0.0 4,217 4,264 -1.1
Bankruptcies 245 234 247 4.7 -0.8 3,142 3,153 -0.3
Proposals 74 85 72 -12.9 2.8 1,075 1,111 -3.2
 
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
July 2014 June 2014 July 2013 June 2014
to
July 2014
July 2013
to
July 2014
07-31-2014 07-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 8 12 9 -33.3 -11.1 129 104 24.0
Bankruptcies 6 6 6 0.0 0.0 89 75 18.7
Proposals 2 6 3 -66.7 -33.3 40 29 37.9
Mining and Oil and Gas Extraction 2 2 1 0.0 100.0 39 39 0.0
Bankruptcies 0 0 0 -- -- 18 23 -21.7
Proposals 2 2 1 0.0 100.0 21 16 31.3
Utilities 3 0 0 -- -- 13 11 18.2
Bankruptcies 2 0 0 -- -- 8 5 60.0
Proposals 1 0 0 -- -- 5 6 -16.7
Construction 54 63 60 -14.3 -10.0 753 755 -0.3
Bankruptcies 44 48 46 -8.3 -4.3 565 557 1.4
Proposals 10 15 14 -33.3 -28.6 188 198 -5.1
Manufacturing 33 33 25 0.0 32.0 410 420 -2.4
Bankruptcies 23 25 21 -8.0 9.5 293 289 1.4
Proposals 10 8 4 25.0 150.0 117 131 -10.7
Wholesale Trade 21 15 16 40.0 31.3 239 226 5.8
Bankruptcies 19 7 16 171.4 18.8 162 161 0.6
Proposals 2 8 0 -75.0 -- 77 65 18.5
Retail Trade 41 39 35 5.1 17.1 509 541 -5.9
Bankruptcies 28 28 28 0.0 0.0 402 421 -4.5
Proposals 13 11 7 18.2 85.7 107 120 -10.8
Transportation and Warehousing 18 17 16 5.9 12.5 235 258 -8.9
Bankruptcies 17 13 12 30.8 41.7 187 205 -8.8
Proposals 1 4 4 -75.0 -75.0 48 53 -9.4
Information and Cultural Industries 6 1 6 500.0 0.0 49 64 -23.4
Bankruptcies 4 1 5 300.0 -20.0 32 55 -41.8
Proposals 2 0 1 -- 100.0 17 9 88.9
Finance and Insurance 7 4 3 75.0 133.3 72 74 -2.7
Bankruptcies 6 3 3 100.0 100.0 54 61 -11.5
Proposals 1 1 0 0.0 -- 18 13 38.5
Real Estate and Rental and Leasing 9 17 14 -47.1 -35.7 149 130 14.6
Bankruptcies 7 13 11 -46.2 -36.4 108 100 8.0
Proposals 2 4 3 -50.0 -33.3 41 30 36.7
Professional, Scientific and Technical Services 21 18 22 16.7 -4.5 295 290 1.7
Bankruptcies 15 14 16 7.1 -6.3 216 215 0.5
Proposals 6 4 6 50.0 0.0 79 75 5.3
Management of Companies and Enterprises 6 4 5 50.0 20.0 64 66 -3.0
Bankruptcies 5 4 4 25.0 25.0 47 48 -2.1
Proposals 1 0 1 -- 0.0 17 18 -5.6
Administrative and Support, Waste Management and Remediation Services 17 23 19 -26.1 -10.5 200 199 0.5
Bankruptcies 14 17 14 -17.6 0.0 140 151 -7.3
Proposals 3 6 5 -50.0 -40.0 60 48 25.0
Educational Services 1 5 5 -80.0 -80.0 46 32 43.8
Bankruptcies 0 5 5 -100.0 -100.0 42 23 82.6
Proposals 1 0 0 -- -- 4 9 -55.6
Health Care and Social Assistance 6 4 3 50.0 100.0 81 55 47.3
Bankruptcies 6 2 2 200.0 200.0 61 45 35.6
Proposals 0 2 1 -100.0 -100.0 20 10 100.0
Arts, Entertainment and Recreation 4 1 10 300.0 -60.0 78 86 -9.3
Bankruptcies 4 1 8 300.0 -50.0 67 70 -4.3
Proposals 0 0 2 -- -100.0 11 16 -31.3
Accommodation and Food Services 51 47 51 8.5 0.0 618 653 -5.4
Bankruptcies 36 36 38 0.0 -5.3 457 455 0.4
Proposals 15 11 13 36.4 15.4 161 198 -18.7
Other Services (except Public Administration) 11 14 19 -21.4 -42.1 237 261 -9.2
Bankruptcies 9 11 12 -18.2 -25.0 193 194 -0.5
Proposals 2 3 7 -33.3 -71.4 44 67 -34.3
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 319 319 319 0.0 0.0 4,217 4,264 -1.1
Bankruptcies 245 234 247 4.7 -0.8 3,142 3,153 -0.3
Proposals 74 85 72 -12.9 2.8 1,075 1,111 -3.2
Date modified: