Insolvency Statistics in Canada—October 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
Oct. 2014 Sept. 2014 Oct. 2013 Sept. 2014
to
Oct. 2014
Oct. 2013
to
Oct. 2014
10-31-2014 10-31-2013 % Change
Newfoundland and Labrador 151 127 143 18.9 5.6 1,587 1,696 -6.4
Bankruptcies 128 111 126 15.3 1.6 1,397 1,543 -9.5
Proposals 23 16 17 43.8 35.3 190 153 24.2
Prince Edward Island 57 62 51 -8.1 11.8 748 619 20.8
Bankruptcies 44 43 35 2.3 25.7 532 458 16.2
Proposals 13 19 16 -31.6 -18.8 216 161 34.2
Nova Scotia 511 500 463 2.2 10.4 5,194 4,739 9.6
Bankruptcies 372 360 333 3.3 11.7 3,698 3,334 10.9
Proposals 139 140 130 -0.7 6.9 1,496 1,405 6.5
New Brunswick 394 393 387 0.3 1.8 4,310 3,966 8.7
Bankruptcies 285 275 269 3.6 5.9 3,032 2,903 4.4
Proposals 109 118 118 -7.6 -7.6 1,278 1,063 20.2
Quebec 4,210 3,694 4,010 14.0 5.0 43,311 41,576 4.2
Bankruptcies 2,490 2,200 2,514 13.2 -1.0 25,995 26,815 -3.1
Proposals 1,720 1,494 1,496 15.1 15.0 17,316 14,761 17.3
Ontario 3,776 3,537 4,075 6.8 -7.3 42,585 45,967 -7.4
Bankruptcies 1,765 1,706 2,071 3.5 -14.8 20,373 22,984 -11.4
Proposals 2,011 1,831 2,004 9.8 0.3 22,212 22,983 -3.4
Manitoba 165 186 153 -11.3 7.8 1,950 1,884 3.5
Bankruptcies 91 130 103 -30.0 -11.7 1,240 1,253 -1.0
Proposals 74 56 50 32.1 48.0 710 631 12.5
Saskatchewan 183 181 155 1.1 18.1 2,046 1,769 15.7
Bankruptcies 107 104 95 2.9 12.6 1,187 1,083 9.6
Proposals 76 77 60 -1.3 26.7 859 686 25.2
Alberta 727 707 731 2.8 -0.5 8,287 8,647 -4.2
Bankruptcies 353 318 398 11.0 -11.3 4,020 4,994 -19.5
Proposals 374 389 333 -3.9 12.3 4,267 3,653 16.8
British Columbia 1,022 988 1,109 3.4 -7.8 11,682 11,993 -2.6
Bankruptcies 508 519 683 -2.1 -25.6 6,691 7,344 -8.9
Proposals 514 469 426 9.6 20.7 4,991 4,649 7.4
Northwest Territories 4 1 8 300.0 -50.0 47 48 -2.1
Bankruptcies 4 0 4 -- 0.0 27 29 -6.9
Proposals 0 1 4 -100.0 -100.0 20 19 5.3
Yukon 3 2 2 50.0 50.0 43 29 48.3
Bankruptcies 1 1 1 0.0 0.0 28 21 33.3
Proposals 2 1 1 100.0 100.0 15 8 87.5
Nunavut 2 0 1 -- 100.0 7 4 75.0
Bankruptcies 2 0 0 -- -- 5 2 150.0
Proposals 0 0 1 -- -100.0 2 2 0.0
Canada 11,205 10,378 11,288 8.0 -0.7 121,797 122,937 -0.9
Bankruptcies 6,150 5,767 6,632 6.6 -7.3 68,225 72,763 -6.2
Proposals 5,055 4,611 4,656 9.6 8.6 53,572 50,174 6.8
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Oct. 2014 Sept. 2014 Oct. 2013 Sept. 2014
to
Oct. 2014
Oct. 2013
to
Oct. 2014
10-31-2014 10-31-2013 % Change
Newfoundland and Labrador 143 126 141 13.5 1.4 1,557 1,667 -6.6
Bankruptcies 120 110 124 9.1 -3.2 1,370 1,525 -10.2
Proposals 23 16 17 43.8 35.3 187 142 31.7
Prince Edward Island 57 61 49 -6.6 16.3 730 599 21.9
Bankruptcies 44 42 33 4.8 33.3 520 442 17.6
Proposals 13 19 16 -31.6 -18.8 210 157 33.8
Nova Scotia 507 497 452 2.0 12.2 5,115 4,624 10.6
Bankruptcies 368 357 326 3.1 12.9 3,645 3,246 12.3
Proposals 139 140 126 -0.7 10.3 1,470 1,378 6.7
New Brunswick 384 386 383 -0.5 0.3 4,216 3,900 8.1
Bankruptcies 276 268 266 3.0 3.8 2,955 2,852 3.6
Proposals 108 118 117 -8.5 -7.7 1,261 1,048 20.3
Quebec 3,984 3,506 3,811 13.6 4.5 41,038 39,420 4.1
Bankruptcies 2,326 2,057 2,363 13.1 -1.6 24,317 25,225 -3.6
Proposals 1,658 1,449 1,448 14.4 14.5 16,721 14,195 17.8
Ontario 3,656 3,458 3,968 5.7 -7.9 41,473 44,728 -7.3
Bankruptcies 1,671 1,636 1,989 2.1 -16.0 19,514 22,011 -11.3
Proposals 1,985 1,822 1,979 8.9 0.3 21,959 22,717 -3.3
Manitoba 162 184 146 -12.0 11.0 1,892 1,819 4.0
Bankruptcies 89 128 98 -30.5 -9.2 1,193 1,198 -0.4
Proposals 73 56 48 30.4 52.1 699 621 12.6
Saskatchewan 177 173 150 2.3 18.0 1,918 1,661 15.5
Bankruptcies 103 100 91 3.0 13.2 1,114 1,016 9.6
Proposals 74 73 59 1.4 25.4 804 645 24.7
Alberta 711 698 711 1.9 0.0 8,134 8,437 -3.6
Bankruptcies 339 313 383 8.3 -11.5 3,912 4,848 -19.3
Proposals 372 385 328 -3.4 13.4 4,222 3,589 17.6
British Columbia 1,012 971 1,089 4.2 -7.1 11,427 11,731 -2.6
Bankruptcies 498 505 672 -1.4 -25.9 6,489 7,153 -9.3
Proposals 514 466 417 10.3 23.3 4,938 4,578 7.9
Northwest Territories 4 1 8 300.0 -50.0 47 48 -2.1
Bankruptcies 4 0 4 -- 0.0 27 29 -6.9
Proposals 0 1 4 -100.0 -100.0 20 19 5.3
Yukon 3 2 2 50.0 50.0 43 27 59.3
Bankruptcies 1 1 1 0.0 0.0 28 19 47.4
Proposals 2 1 1 100.0 100.0 15 8 87.5
Nunavut 1 0 1 -- 0.0 6 4 50.0
Bankruptcies 1 0 0 -- -- 4 2 100.0
Proposals 0 0 1 -- -100.0 2 2 0.0
Canada 10,801 10,063 10,911 7.3 -1.0 117,596 118,665 -0.9
Bankruptcies 5,840 5,517 6,350 5.9 -8.0 65,088 69,566 -6.4
Proposals 4,961 4,546 4,561 9.1 8.8 52,508 49,099 6.9
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Oct. 2014 Sept. 2014 Oct. 2013 Sept. 2014
to
Oct. 2014
Oct. 2013
to
Oct. 2014
10-31-2014 10-31-2013 % Change
Newfoundland and Labrador 8 1 2 700.0 300.0 30 29 3.4
Bankruptcies 8 1 2 700.0 300.0 27 18 50.0
Proposals 0 0 0 -- -- 3 11 -72.7
Prince Edward Island 0 1 2 -100.0 -100.0 18 20 -10.0
Bankruptcies 0 1 2 -100.0 -100.0 12 16 -25.0
Proposals 0 0 0 -- -- 6 4 50.0
Nova Scotia 4 3 11 33.3 -63.6 79 115 -31.3
Bankruptcies 4 3 7 33.3 -42.9 53 88 -39.8
Proposals 0 0 4 -- -100.0 26 27 -3.7
New Brunswick 10 7 4 42.9 150.0 94 66 42.4
Bankruptcies 9 7 3 28.6 200.0 77 51 51.0
Proposals 1 0 1 -- 0.0 17 15 13.3
Quebec 226 188 199 20.2 13.6 2,273 2,156 5.4
Bankruptcies 164 143 151 14.7 8.6 1,678 1,590 5.5
Proposals 62 45 48 37.8 29.2 595 566 5.1
Ontario 120 79 107 51.9 12.1 1,112 1,239 -10.3
Bankruptcies 94 70 82 34.3 14.6 859 973 -11.7
Proposals 26 9 25 188.9 4.0 253 266 -4.9
Manitoba 3 2 7 50.0 -57.1 58 65 -10.8
Bankruptcies 2 2 5 0.0 -60.0 47 55 -14.5
Proposals 1 0 2 -- -50.0 11 10 10.0
Saskatchewan 6 8 5 -25.0 20.0 128 108 18.5
Bankruptcies 4 4 4 0.0 0.0 73 67 9.0
Proposals 2 4 1 -50.0 100.0 55 41 34.1
Alberta 16 9 20 77.8 -20.0 153 210 -27.1
Bankruptcies 14 5 15 180.0 -6.7 108 146 -26.0
Proposals 2 4 5 -50.0 -60.0 45 64 -29.7
British Columbia 10 17 20 -41.2 -50.0 255 262 -2.7
Bankruptcies 10 14 11 -28.6 -9.1 202 191 5.8
Proposals 0 3 9 -100.0 -100.0 53 71 -25.4
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 1 0 0 -- -- 1 0 --
Bankruptcies 1 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 404 315 377 28.3 7.2 4,201 4,272 -1.7
Bankruptcies 310 250 282 24.0 9.9 3,137 3,197 -1.9
Proposals 94 65 95 44.6 -1.1 1,064 1,075 -1.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Oct. 2014 Sept. 2014 Oct. 2013 Sept. 2014
to
Oct. 2014
Oct. 2013
to
Oct. 2014
10-31-2014 10-31-2013 % Change
Agriculture, Forestry, Fishing and Hunting 7 6 10 16.7 -30.0 103 123 -16.3
Bankruptcies 6 4 7 50.0 -14.3 72 85 -15.3
Proposals 1 2 3 -50.0 -66.7 31 38 -18.4
Mining and Oil and Gas Extraction 3 5 3 -40.0 0.0 44 36 22.2
Bankruptcies 2 2 2 0.0 0.0 20 20 0.0
Proposals 1 3 1 -66.7 0.0 24 16 50.0
Utilities 0 2 1 -100.0 -100.0 14 10 40.0
Bankruptcies 0 2 0 -100.0 -- 11 3 266.7
Proposals 0 0 1 -- -100.0 3 7 -57.1
Construction 59 49 57 20.4 3.5 726 753 -3.6
Bankruptcies 43 37 43 16.2 0.0 543 562 -3.4
Proposals 16 12 14 33.3 14.3 183 191 -4.2
Manufacturing 40 33 42 21.2 -4.8 390 424 -8.0
Bankruptcies 24 25 32 -4.0 -25.0 277 301 -8.0
Proposals 16 8 10 100.0 60.0 113 123 -8.1
Wholesale Trade 17 13 26 30.8 -34.6 228 232 -1.7
Bankruptcies 11 8 19 37.5 -42.1 150 170 -11.8
Proposals 6 5 7 20.0 -14.3 78 62 25.8
Retail Trade 50 44 45 13.6 11.1 517 516 0.2
Bankruptcies 38 33 37 15.2 2.7 397 411 -3.4
Proposals 12 11 8 9.1 50.0 120 105 14.3
Transportation and Warehousing 29 17 14 70.6 107.1 245 249 -1.6
Bankruptcies 23 16 12 43.8 91.7 195 200 -2.5
Proposals 6 1 2 500.0 200.0 50 49 2.0
Information and Cultural Industries 9 7 1 28.6 800.0 68 54 25.9
Bankruptcies 5 6 1 -16.7 400.0 46 48 -4.2
Proposals 4 1 0 300.0 -- 22 6 266.7
Finance and Insurance 10 6 7 66.7 42.9 75 82 -8.5
Bankruptcies 7 5 4 40.0 75.0 55 69 -20.3
Proposals 3 1 3 200.0 0.0 20 13 53.8
Real Estate and Rental and Leasing 12 6 22 100.0 -45.5 140 140 0.0
Bankruptcies 10 5 14 100.0 -28.6 106 105 1.0
Proposals 2 1 8 100.0 -75.0 34 35 -2.9
Professional, Scientific and Technical Services 30 23 29 30.4 3.4 291 310 -6.1
Bankruptcies 25 19 23 31.6 8.7 224 228 -1.8
Proposals 5 4 6 25.0 -16.7 67 82 -18.3
Management of Companies and Enterprises 4 4 3 0.0 33.3 57 67 -14.9
Bankruptcies 2 3 2 -33.3 0.0 42 46 -8.7
Proposals 2 1 1 100.0 100.0 15 21 -28.6
Administrative and Support, Waste Management and Remediation Services 22 17 16 29.4 37.5 209 202 3.5
Bankruptcies 18 15 10 20.0 80.0 156 149 4.7
Proposals 4 2 6 100.0 -33.3 53 53 0.0
Educational Services 4 3 5 33.3 -20.0 48 37 29.7
Bankruptcies 4 1 4 300.0 0.0 41 28 46.4
Proposals 0 2 1 -100.0 -100.0 7 9 -22.2
Health Care and Social Assistance 21 6 6 250.0 250.0 96 56 71.4
Bankruptcies 17 5 3 240.0 466.7 74 43 72.1
Proposals 4 1 3 300.0 33.3 22 13 69.2
Arts, Entertainment and Recreation 6 8 4 -25.0 50.0 80 87 -8.0
Bankruptcies 6 7 4 -14.3 50.0 69 74 -6.8
Proposals 0 1 0 -100.0 -- 11 13 -15.4
Accommodation and Food Services 63 47 55 34.0 14.5 650 636 2.2
Bankruptcies 53 39 38 35.9 39.5 480 457 5.0
Proposals 10 8 17 25.0 -41.2 170 179 -5.0
Other Services (except Public Administration) 18 19 31 -5.3 -41.9 219 258 -15.1
Bankruptcies 16 18 27 -11.1 -40.7 178 198 -10.1
Proposals 2 1 4 100.0 -50.0 41 60 -31.7
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 404 315 377 28.3 7.2 4,201 4,272 -1.7
Bankruptcies 310 250 282 24.0 9.9 3,137 3,197 -1.9
Proposals 94 65 95 44.6 -1.1 1,064 1,075 -1.0
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