Insolvency Statistics in Canada—August 2014

Detailed report

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
August 2014 July 2014 August 2013 July 2014
to
August 2014
August 2013
to
August 2014
08-31-2014 08-31-2013 % Change
Newfoundland and Labrador 128 126 135 1.6 -5.2 1,575 1,733 -9.1
Bankruptcies 103 111 113 -7.2 -8.8 1,399 1,587 -11.8
Proposals 25 15 22 66.7 13.6 176 146 20.5
Prince Edward Island 82 73 68 12.3 20.6 727 639 13.8
Bankruptcies 61 53 46 15.1 32.6 508 484 5.0
Proposals 21 20 22 5.0 -4.5 219 155 41.3
Nova Scotia 396 499 433 -20.6 -8.5 5,096 4,534 12.4
Bankruptcies 283 356 294 -20.5 -3.7 3,605 3,229 11.6
Proposals 113 143 139 -21.0 -18.7 1,491 1,305 14.3
New Brunswick 398 358 378 11.2 5.3 4,240 3,884 9.2
Bankruptcies 276 254 269 8.7 2.6 2,958 2,879 2.7
Proposals 122 104 109 17.3 11.9 1,282 1,005 27.6
Quebec 3,461 3,495 3,408 -1.0 1.6 42,916 40,726 5.4
Bankruptcies 2,022 2,095 2,215 -3.5 -8.7 26,072 26,505 -1.6
Proposals 1,439 1,400 1,193 2.8 20.6 16,844 14,221 18.4
Ontario 3,132 3,634 3,628 -13.8 -13.7 43,069 46,205 -6.8
Bankruptcies 1,487 1,714 1,846 -13.2 -19.4 20,774 23,191 -10.4
Proposals 1,645 1,920 1,782 -14.3 -7.7 22,295 23,014 -3.1
Manitoba 166 156 176 6.4 -5.7 1,903 1,910 -0.4
Bankruptcies 97 107 109 -9.3 -11.0 1,222 1,277 -4.3
Proposals 69 49 67 40.8 3.0 681 633 7.6
Saskatchewan 163 182 160 -10.4 1.9 2,000 1,736 15.2
Bankruptcies 85 99 98 -14.1 -13.3 1,176 1,049 12.1
Proposals 78 83 62 -6.0 25.8 824 687 19.9
Alberta 644 655 650 -1.7 -0.9 8,273 8,754 -5.5
Bankruptcies 300 303 386 -1.0 -22.3 4,135 5,157 -19.8
Proposals 344 352 264 -2.3 30.3 4,138 3,597 15.0
British Columbia 844 1,044 929 -19.2 -9.1 11,733 11,818 -0.7
Bankruptcies 454 581 530 -21.9 -14.3 6,938 7,307 -5.0
Proposals 390 463 399 -15.8 -2.3 4,795 4,511 6.3
Northwest Territories 5 2 2 150.0 150.0 53 50 6.0
Bankruptcies 1 2 2 -50.0 -50.0 28 30 -6.7
Proposals 4 0 0 -- -- 25 20 25.0
Yukon 3 6 2 -50.0 50.0 40 40 0.0
Bankruptcies 3 3 1 0.0 200.0 27 26 3.8
Proposals 0 3 1 -100.0 -100.0 13 14 -7.1
Nunavut 1 0 1 -- 0.0 6 4 50.0
Bankruptcies 0 0 1 -- -100.0 3 2 50.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,423 10,230 9,970 -7.9 -5.5 121,631 122,033 -0.3
Bankruptcies 5,172 5,678 5,910 -8.9 -12.5 68,845 72,723 -5.3
Proposals 4,251 4,552 4,060 -6.6 4.7 52,786 49,310 7.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
August 2014 July 2014 August 2013 July 2014
to
August 2014
August 2013
to
August 2014
08-31-2014 08-31-2013 % Change
Newfoundland and Labrador 126 126 125 0.0 0.8 1,552 1,699 -8.7
Bankruptcies 101 111 109 -9.0 -7.3 1,379 1,567 -12.0
Proposals 25 15 16 66.7 56.3 173 132 31.1
Prince Edward Island 82 69 64 18.8 28.1 704 624 12.8
Bankruptcies 61 51 44 19.6 38.6 491 473 3.8
Proposals 21 18 20 16.7 5.0 213 151 41.1
Nova Scotia 389 490 419 -20.6 -7.2 5,006 4,417 13.3
Bankruptcies 279 350 283 -20.3 -1.4 3,546 3,137 13.0
Proposals 110 140 136 -21.4 -19.1 1,460 1,280 14.1
New Brunswick 397 352 370 12.8 7.3 4,154 3,812 9.0
Bankruptcies 275 250 265 10.0 3.8 2,890 2,825 2.3
Proposals 122 102 105 19.6 16.2 1,264 987 28.1
Quebec 3,301 3,327 3,254 -0.8 1.4 40,681 38,609 5.4
Bankruptcies 1,908 1,967 2,097 -3.0 -9.0 24,424 24,957 -2.1
Proposals 1,393 1,360 1,157 2.4 20.4 16,257 13,652 19.1
Ontario 3,041 3,552 3,532 -14.4 -13.9 41,957 44,950 -6.7
Bankruptcies 1,413 1,644 1,761 -14.1 -19.8 19,923 22,210 -10.3
Proposals 1,628 1,908 1,771 -14.7 -8.1 22,034 22,740 -3.1
Manitoba 162 153 166 5.9 -2.4 1,838 1,849 -0.6
Bankruptcies 96 105 99 -8.6 -3.0 1,169 1,226 -4.6
Proposals 66 48 67 37.5 -1.5 669 623 7.4
Saskatchewan 155 175 153 -11.4 1.3 1,874 1,622 15.5
Bankruptcies 81 95 94 -14.7 -13.8 1,103 981 12.4
Proposals 74 80 59 -7.5 25.4 771 641 20.3
Alberta 629 642 637 -2.0 -1.3 8,109 8,531 -4.9
Bankruptcies 289 296 379 -2.4 -23.7 4,018 5,000 -19.6
Proposals 340 346 258 -1.7 31.8 4,091 3,531 15.9
British Columbia 823 1,017 911 -19.1 -9.7 11,465 11,562 -0.8
Bankruptcies 438 559 519 -21.6 -15.6 6,731 7,126 -5.5
Proposals 385 458 392 -15.9 -1.8 4,734 4,436 6.7
Northwest Territories 5 2 2 150.0 150.0 53 50 6.0
Bankruptcies 1 2 2 -50.0 -50.0 28 30 -6.7
Proposals 4 0 0 -- -- 25 20 25.0
Yukon 3 6 2 -50.0 50.0 40 38 5.3
Bankruptcies 3 3 1 0.0 200.0 27 24 12.5
Proposals 0 3 1 -100.0 -100.0 13 14 -7.1
Nunavut 1 0 1 -- 0.0 6 4 50.0
Bankruptcies 0 0 1 -- -100.0 3 2 50.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,114 9,911 9,636 -8.0 -5.4 117,439 117,767 -0.3
Bankruptcies 4,945 5,433 5,654 -9.0 -12.5 65,732 69,558 -5.5
Proposals 4,169 4,478 3,982 -6.9 4.7 51,707 48,209 7.3
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
August 2014 July 2014 August 2013 July 2014
to
August 2014
August 2013
to
August 2014
08-31-2014 08-31-2013 % Change
Newfoundland and Labrador 2 0 10 -- -80.0 23 34 -32.4
Bankruptcies 2 0 4 -- -50.0 20 20 0.0
Proposals 0 0 6 -- -100.0 3 14 -78.6
Prince Edward Island 0 4 4 -100.0 -100.0 23 15 53.3
Bankruptcies 0 2 2 -100.0 -100.0 17 11 54.5
Proposals 0 2 2 -100.0 -100.0 6 4 50.0
Nova Scotia 7 9 14 -22.2 -50.0 90 117 -23.1
Bankruptcies 4 6 11 -33.3 -63.6 59 92 -35.9
Proposals 3 3 3 0.0 0.0 31 25 24.0
New Brunswick 1 6 8 -83.3 -87.5 86 72 19.4
Bankruptcies 1 4 4 -75.0 -75.0 68 54 25.9
Proposals 0 2 4 -100.0 -100.0 18 18 0.0
Quebec 160 168 154 -4.8 3.9 2,235 2,117 5.6
Bankruptcies 114 128 118 -10.9 -3.4 1,648 1,548 6.5
Proposals 46 40 36 15.0 27.8 587 569 3.2
Ontario 91 82 96 11.0 -5.2 1,112 1,255 -11.4
Bankruptcies 74 70 85 5.7 -12.9 851 981 -13.3
Proposals 17 12 11 41.7 54.5 261 274 -4.7
Manitoba 4 3 10 33.3 -60.0 65 61 6.6
Bankruptcies 1 2 10 -50.0 -90.0 53 51 3.9
Proposals 3 1 0 200.0 -- 12 10 20.0
Saskatchewan 8 7 7 14.3 14.3 126 114 10.5
Bankruptcies 4 4 4 0.0 0.0 73 68 7.4
Proposals 4 3 3 33.3 33.3 53 46 15.2
Alberta 15 13 13 15.4 15.4 164 223 -26.5
Bankruptcies 11 7 7 57.1 57.1 117 157 -25.5
Proposals 4 6 6 -33.3 -33.3 47 66 -28.8
British Columbia 21 27 18 -22.2 16.7 268 256 4.7
Bankruptcies 16 22 11 -27.3 45.5 207 181 14.4
Proposals 5 5 7 0.0 -28.6 61 75 -18.7
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 309 319 334 -3.1 -7.5 4,192 4,266 -1.7
Bankruptcies 227 245 256 -7.3 -11.3 3,113 3,165 -1.6
Proposals 82 74 78 10.8 5.1 1,079 1,101 -2.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
August 2014 July 2014 August 2013 July 2014
to
August 2014
August 2013
to
August 2014
08-31-2014 08-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 8 8 23 0.0 -65.2 114 115 -0.9
Bankruptcies 2 6 12 -66.7 -83.3 79 79 0.0
Proposals 6 2 11 200.0 -45.5 35 36 -2.8
Mining and Oil and Gas Extraction 3 2 2 50.0 50.0 40 38 5.3
Bankruptcies 1 0 0 -- -- 19 21 -9.5
Proposals 2 2 2 0.0 0.0 21 17 23.5
Utilities 1 3 0 -66.7 -- 14 10 40.0
Bankruptcies 1 2 0 -50.0 -- 9 5 80.0
Proposals 0 1 0 -100.0 -- 5 5 0.0
Construction 49 54 65 -9.3 -24.6 737 759 -2.9
Bankruptcies 35 44 50 -20.5 -30.0 550 566 -2.8
Proposals 14 10 15 40.0 -6.7 187 193 -3.1
Manufacturing 21 33 35 -36.4 -40.0 396 423 -6.4
Bankruptcies 18 23 24 -21.7 -25.0 287 296 -3.0
Proposals 3 10 11 -70.0 -72.7 109 127 -14.2
Wholesale Trade 17 21 20 -19.0 -15.0 236 228 3.5
Bankruptcies 13 19 18 -31.6 -27.8 157 165 -4.8
Proposals 4 2 2 100.0 100.0 79 63 25.4
Retail Trade 38 41 35 -7.3 8.6 512 526 -2.7
Bankruptcies 29 28 33 3.6 -12.1 398 411 -3.2
Proposals 9 13 2 -30.8 350.0 114 115 -0.9
Transportation and Warehousing 23 18 16 27.8 43.8 242 259 -6.6
Bankruptcies 18 17 13 5.9 38.5 192 207 -7.2
Proposals 5 1 3 400.0 66.7 50 52 -3.8
Information and Cultural Industries 5 6 0 -16.7 -- 54 62 -12.9
Bankruptcies 4 4 0 0.0 -- 36 54 -33.3
Proposals 1 2 0 -50.0 -- 18 8 125.0
Finance and Insurance 9 7 6 28.6 50.0 75 75 0.0
Bankruptcies 7 6 6 16.7 16.7 55 64 -14.1
Proposals 2 1 0 100.0 -- 20 11 81.8
Real Estate and Rental and Leasing 6 9 7 -33.3 -14.3 148 130 13.8
Bankruptcies 4 7 6 -42.9 -33.3 106 100 6.0
Proposals 2 2 1 0.0 100.0 42 30 40.0
Professional, Scientific and Technical Services 18 21 19 -14.3 -5.3 294 291 1.0
Bankruptcies 17 15 10 13.3 70.0 223 213 4.7
Proposals 1 6 9 -83.3 -88.9 71 78 -9.0
Management of Companies and Enterprises 5 6 10 -16.7 -50.0 59 73 -19.2
Bankruptcies 4 5 8 -20.0 -50.0 43 53 -18.9
Proposals 1 1 2 0.0 -50.0 16 20 -20.0
Administrative and Support, Waste Management and Remediation Services 17 17 18 0.0 -5.6 199 206 -3.4
Bankruptcies 15 14 13 7.1 15.4 142 156 -9.0
Proposals 2 3 5 -33.3 -60.0 57 50 14.0
Educational Services 5 1 3 400.0 66.7 48 35 37.1
Bankruptcies 3 0 3 -- 0.0 42 26 61.5
Proposals 2 1 0 100.0 -- 6 9 -33.3
Health Care and Social Assistance 4 6 2 -33.3 100.0 83 50 66.0
Bankruptcies 2 6 2 -66.7 0.0 61 41 48.8
Proposals 2 0 0 -- -- 22 9 144.4
Arts, Entertainment and Recreation 6 4 6 50.0 0.0 78 89 -12.4
Bankruptcies 5 4 6 25.0 -16.7 66 73 -9.6
Proposals 1 0 0 -- -- 12 16 -25.0
Accommodation and Food Services 61 51 44 19.6 38.6 635 642 -1.1
Bankruptcies 38 36 32 5.6 18.8 463 447 3.6
Proposals 23 15 12 53.3 91.7 172 195 -11.8
Other Services (except Public Administration) 13 11 23 18.2 -43.5 227 255 -11.0
Bankruptcies 11 9 20 22.2 -45.0 184 188 -2.1
Proposals 2 2 3 0.0 -33.3 43 67 -35.8
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 309 319 334 -3.1 -7.5 4,192 4,266 -1.7
Bankruptcies 227 245 256 -7.3 -11.3 3,113 3,165 -1.6
Proposals 82 74 78 10.8 5.1 1,079 1,101 -2.0
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