Insolvency Statistics in Canada—September 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
Sept. 2014 August 2014 Sept. 2013 August 2014
to
Sept. 2014
Sept. 2013
to
Sept. 2014
09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 127 128 123 -0.8 3.3 1,579 1,734 -8.9
Bankruptcies 111 103 115 7.8 -3.5 1,395 1,589 -12.2
Proposals 16 25 8 -36.0 100.0 184 145 26.9
Prince Edward Island 62 82 47 -24.4 31.9 742 641 15.8
Bankruptcies 43 61 28 -29.5 53.6 523 480 9.0
Proposals 19 21 19 -9.5 0.0 219 161 36.0
Nova Scotia 500 396 450 26.3 11.1 5,146 4,670 10.2
Bankruptcies 360 283 306 27.2 17.6 3,659 3,293 11.1
Proposals 140 113 144 23.9 -2.8 1,487 1,377 8.0
New Brunswick 393 398 330 -1.3 19.1 4,303 3,905 10.2
Bankruptcies 275 276 217 -0.4 26.7 3,016 2,857 5.6
Proposals 118 122 113 -3.3 4.4 1,287 1,048 22.8
Quebec 3,694 3,461 3,499 6.7 5.6 43,111 41,266 4.5
Bankruptcies 2,200 2,022 2,253 8.8 -2.4 26,019 26,747 -2.7
Proposals 1,494 1,439 1,246 3.8 19.9 17,092 14,519 17.7
Ontario 3,537 3,132 3,722 12.9 -5.0 42,884 46,149 -7.1
Bankruptcies 1,706 1,487 1,801 14.7 -5.3 20,679 23,073 -10.4
Proposals 1,831 1,645 1,921 11.3 -4.7 22,205 23,076 -3.8
Manitoba 186 166 151 12.0 23.2 1,938 1,888 2.6
Bankruptcies 130 97 100 34.0 30.0 1,252 1,253 -0.1
Proposals 56 69 51 -18.8 9.8 686 635 8.0
Saskatchewan 181 163 163 11.0 11.0 2,018 1,752 15.2
Bankruptcies 104 85 105 22.4 -1.0 1,175 1,065 10.3
Proposals 77 78 58 -1.3 32.8 843 687 22.7
Alberta 707 644 689 9.8 2.6 8,291 8,757 -5.3
Bankruptcies 318 300 388 6.0 -18.0 4,065 5,103 -20.3
Proposals 389 344 301 13.1 29.2 4,226 3,654 15.7
British Columbia 988 844 952 17.1 3.8 11,769 11,894 -1.1
Bankruptcies 519 454 591 14.3 -12.2 6,866 7,310 -6.1
Proposals 469 390 361 20.3 29.9 4,903 4,584 7.0
Northwest Territories 1 5 3 -80.0 -66.7 51 51 0.0
Bankruptcies 0 1 1 -100.0 -100.0 27 31 -12.9
Proposals 1 4 2 -75.0 -50.0 24 20 20.0
Yukon 2 3 0 -33.3 -- 42 35 20.0
Bankruptcies 1 3 0 -66.7 -- 28 24 16.7
Proposals 1 0 0 -- -- 14 11 27.3
Nunavut 0 1 0 -100.0 -- 6 4 50.0
Bankruptcies 0 0 0 -- -- 3 2 50.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 10,378 9,423 10,129 10.1 2.5 121,880 122,746 -0.7
Bankruptcies 5,767 5,172 5,905 11.5 -2.3 68,707 72,827 -5.7
Proposals 4,611 4,251 4,224 8.5 9.2 53,173 49,919 6.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Sept. 2014 August 2014 Sept. 2013 August 2014
to
Sept. 2014
Sept. 2013
to
Sept. 2014
09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 126 126 123 0.0 2.4 1,555 1,705 -8.8
Bankruptcies 110 101 115 8.9 -4.3 1,374 1,571 -12.5
Proposals 16 25 8 -36.0 100.0 181 134 35.1
Prince Edward Island 61 82 43 -25.6 41.9 722 623 15.9
Bankruptcies 42 61 24 -31.1 75.0 509 466 9.2
Proposals 19 21 19 -9.5 0.0 213 157 35.7
Nova Scotia 497 389 443 27.8 12.2 5,060 4,552 11.2
Bankruptcies 357 279 300 28.0 19.0 3,603 3,200 12.6
Proposals 140 110 143 27.3 -2.1 1,457 1,352 7.8
New Brunswick 386 397 325 -2.8 18.8 4,215 3,833 10.0
Bankruptcies 268 275 213 -2.5 25.8 2,945 2,801 5.1
Proposals 118 122 112 -3.3 5.4 1,270 1,032 23.1
Quebec 3,506 3,301 3,322 6.2 5.5 40,865 39,162 4.3
Bankruptcies 2,057 1,908 2,127 7.8 -3.3 24,354 25,209 -3.4
Proposals 1,449 1,393 1,195 4.0 21.3 16,511 13,953 18.3
Ontario 3,458 3,041 3,630 13.7 -4.7 41,785 44,908 -7.0
Bankruptcies 1,636 1,413 1,727 15.8 -5.3 19,832 22,097 -10.3
Proposals 1,822 1,628 1,903 11.9 -4.3 21,953 22,811 -3.8
Manitoba 184 162 146 13.6 26.0 1,876 1,824 2.9
Bankruptcies 128 96 95 33.3 34.7 1,202 1,199 0.3
Proposals 56 66 51 -15.2 9.8 674 625 7.8
Saskatchewan 173 155 156 11.6 10.9 1,891 1,639 15.4
Bankruptcies 100 81 101 23.5 -1.0 1,102 997 10.5
Proposals 73 74 55 -1.4 32.7 789 642 22.9
Alberta 698 629 673 11.0 3.7 8,134 8,542 -4.8
Bankruptcies 313 289 375 8.3 -16.5 3,956 4,954 -20.1
Proposals 385 340 298 13.2 29.2 4,178 3,588 16.4
British Columbia 971 823 932 18.0 4.2 11,504 11,632 -1.1
Bankruptcies 505 438 573 15.3 -11.9 6,663 7,122 -6.4
Proposals 466 385 359 21.0 29.8 4,841 4,510 7.3
Northwest Territories 1 5 3 -80.0 -66.7 51 51 0.0
Bankruptcies 0 1 1 -100.0 -100.0 27 31 -12.9
Proposals 1 4 2 -75.0 -50.0 24 20 20.0
Yukon 2 3 0 -33.3 -- 42 33 27.3
Bankruptcies 1 3 0 -66.7 -- 28 22 27.3
Proposals 1 0 0 -- -- 14 11 27.3
Nunavut 0 1 0 -100.0 -- 6 4 50.0
Bankruptcies 0 0 0 -- -- 3 2 50.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 10,063 9,114 9,796 10.4 2.7 117,706 118,508 -0.7
Bankruptcies 5,517 4,945 5,651 11.6 -2.4 65,598 69,671 -5.8
Proposals 4,546 4,169 4,145 9.0 9.7 52,108 48,837 6.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Sept. 2014 August 2014 Sept. 2013 August 2014
to
Sept. 2014
Sept. 2013
to
Sept. 2014
09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 1 2 0 -50.0 -- 24 29 -17.2
Bankruptcies 1 2 0 -50.0 -- 21 18 16.7
Proposals 0 0 0 -- -- 3 11 -72.7
Prince Edward Island 1 0 4 -- -75.0 20 18 11.1
Bankruptcies 1 0 4 -- -75.0 14 14 0.0
Proposals 0 0 0 -- -- 6 4 50.0
Nova Scotia 3 7 7 -57.1 -57.1 86 118 -27.1
Bankruptcies 3 4 6 -25.0 -50.0 56 93 -39.8
Proposals 0 3 1 -100.0 -100.0 30 25 20.0
New Brunswick 7 1 5 600.0 40.0 88 72 22.2
Bankruptcies 7 1 4 600.0 75.0 71 56 26.8
Proposals 0 0 1 -- -100.0 17 16 6.3
Quebec 188 160 177 17.5 6.2 2,246 2,104 6.7
Bankruptcies 143 114 126 25.4 13.5 1,665 1,538 8.3
Proposals 45 46 51 -2.2 -11.8 581 566 2.7
Ontario 79 91 92 -13.2 -14.1 1,099 1,241 -11.4
Bankruptcies 70 74 74 -5.4 -5.4 847 976 -13.2
Proposals 9 17 18 -47.1 -50.0 252 265 -4.9
Manitoba 2 4 5 -50.0 -60.0 62 64 -3.1
Bankruptcies 2 1 5 100.0 -60.0 50 54 -7.4
Proposals 0 3 0 -100.0 -- 12 10 20.0
Saskatchewan 8 8 7 0.0 14.3 127 113 12.4
Bankruptcies 4 4 4 0.0 0.0 73 68 7.4
Proposals 4 4 3 0.0 33.3 54 45 20.0
Alberta 9 15 16 -40.0 -43.8 157 215 -27.0
Bankruptcies 5 11 13 -54.5 -61.5 109 149 -26.8
Proposals 4 4 3 0.0 33.3 48 66 -27.3
British Columbia 17 21 20 -19.0 -15.0 265 262 1.1
Bankruptcies 14 16 18 -12.5 -22.2 203 188 8.0
Proposals 3 5 2 -40.0 50.0 62 74 -16.2
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 315 309 333 1.9 -5.4 4,174 4,238 -1.5
Bankruptcies 250 227 254 10.1 -1.6 3,109 3,156 -1.5
Proposals 65 82 79 -20.7 -17.7 1,065 1,082 -1.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Sept. 2014 August 2014 Sept. 2013 August 2014
to
Sept. 2014
Sept. 2013
to
Sept. 2014
09-30-2014 09-30-2013 % Change
Agriculture, Forestry, Fishing and Hunting 6 8 14 -25.0 -57.1 106 120 -11.7
Bankruptcies 4 2 10 100.0 -60.0 73 84 -13.1
Proposals 2 6 4 -66.7 -50.0 33 36 -8.3
Mining and Oil and Gas Extraction 5 3 1 66.7 400.0 44 34 29.4
Bankruptcies 2 1 1 100.0 100.0 20 18 11.1
Proposals 3 2 0 50.0 -- 24 16 50.0
Utilities 2 1 1 100.0 100.0 15 11 36.4
Bankruptcies 2 1 0 100.0 -- 11 5 120.0
Proposals 0 0 1 -- -100.0 4 6 -33.3
Construction 49 49 62 0.0 -21.0 724 767 -5.6
Bankruptcies 37 35 44 5.7 -15.9 543 568 -4.4
Proposals 12 14 18 -14.3 -33.3 181 199 -9.0
Manufacturing 33 21 37 57.1 -10.8 392 425 -7.8
Bankruptcies 25 18 27 38.9 -7.4 285 298 -4.4
Proposals 8 3 10 166.7 -20.0 107 127 -15.7
Wholesale Trade 13 17 12 -23.5 8.3 237 222 6.8
Bankruptcies 8 13 7 -38.5 14.3 158 159 -0.6
Proposals 5 4 5 25.0 0.0 79 63 25.4
Retail Trade 44 38 44 15.8 0.0 512 514 -0.4
Bankruptcies 33 29 35 13.8 -5.7 396 404 -2.0
Proposals 11 9 9 22.2 22.2 116 110 5.5
Transportation and Warehousing 17 23 29 -26.1 -41.4 230 268 -14.2
Bankruptcies 16 18 24 -11.1 -33.3 184 214 -14.0
Proposals 1 5 5 -80.0 -80.0 46 54 -14.8
Information and Cultural Industries 7 5 1 40.0 600.0 60 57 5.3
Bankruptcies 6 4 0 50.0 -- 42 50 -16.0
Proposals 1 1 1 0.0 0.0 18 7 157.1
Finance and Insurance 6 9 9 -33.3 -33.3 72 79 -8.9
Bankruptcies 5 7 8 -28.6 -37.5 52 69 -24.6
Proposals 1 2 1 -50.0 0.0 20 10 100.0
Real Estate and Rental and Leasing 6 6 4 0.0 50.0 150 123 22.0
Bankruptcies 5 4 1 25.0 400.0 110 95 15.8
Proposals 1 2 3 -50.0 -66.7 40 28 42.9
Professional, Scientific and Technical Services 23 18 27 27.8 -14.8 290 298 -2.7
Bankruptcies 19 17 20 11.8 -5.0 222 217 2.3
Proposals 4 1 7 300.0 -42.9 68 81 -16.0
Management of Companies and Enterprises 4 5 7 -20.0 -42.9 56 73 -23.3
Bankruptcies 3 4 4 -25.0 -25.0 42 50 -16.0
Proposals 1 1 3 0.0 -66.7 14 23 -39.1
Administrative and Support, Waste Management and Remediation Services 17 17 13 0.0 30.8 203 200 1.5
Bankruptcies 15 15 9 0.0 66.7 148 150 -1.3
Proposals 2 2 4 0.0 -50.0 55 50 10.0
Educational Services 3 5 2 -40.0 50.0 49 35 40.0
Bankruptcies 1 3 2 -66.7 -50.0 41 26 57.7
Proposals 2 2 0 0.0 -- 8 9 -11.1
Health Care and Social Assistance 6 4 8 50.0 -25.0 81 52 55.8
Bankruptcies 5 2 6 150.0 -16.7 60 42 42.9
Proposals 1 2 2 -50.0 -50.0 21 10 110.0
Arts, Entertainment and Recreation 8 6 8 33.3 0.0 78 91 -14.3
Bankruptcies 7 5 6 40.0 16.7 67 75 -10.7
Proposals 1 1 2 0.0 -50.0 11 16 -31.3
Accommodation and Food Services 47 61 40 -23.0 17.5 642 618 3.9
Bankruptcies 39 38 37 2.6 5.4 465 445 4.5
Proposals 8 23 3 -65.2 166.7 177 173 2.3
Other Services (except Public Administration) 19 13 14 46.2 35.7 232 251 -7.6
Bankruptcies 18 11 13 63.6 38.5 189 187 1.1
Proposals 1 2 1 -50.0 0.0 43 64 -32.8
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 315 309 333 1.9 -5.4 4,174 4,238 -1.5
Bankruptcies 250 227 254 10.1 -1.6 3,109 3,156 -1.5
Proposals 65 82 79 -20.7 -17.7 1,065 1,082 -1.6
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