Insolvency Statistics in Canada—November 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
Nov. 2014 Oct. 2014 Nov. 2013 Oct. 2014
to
Nov. 2014
Nov. 2013
to
Nov. 2014
11-30-2014 11-30-2013 % change
Newfoundland and Labrador 131 151 147 -13.2 -10.9 1,571 1,719 -8.6
Bankruptcies 110 128 128 -14.1 -14.1 1,379 1,559 -11.5
Proposals 21 23 19 -8.7 10.5 192 160 20.0
Prince Edward Island 55 57 63 -3.5 -12.7 740 628 17.8
Bankruptcies 35 44 45 -20.5 -22.2 522 462 13.0
Proposals 20 13 18 53.8 11.1 218 166 31.3
Nova Scotia 375 511 362 -26.6 3.6 5,207 4,704 10.7
Bankruptcies 285 372 265 -23.4 7.5 3,718 3,322 11.9
Proposals 90 139 97 -35.3 -7.2 1,489 1,382 7.7
New Brunswick 356 394 363 -9.6 -1.9 4,303 4,014 7.2
Bankruptcies 247 285 254 -13.3 -2.8 3,025 2,909 4.0
Proposals 109 109 109 0.0 0.0 1,278 1,105 15.7
Quebec 3,724 4,210 3,532 -11.5 5.4 43,503 41,603 4.6
Bankruptcies 2,185 2,490 2,154 -12.2 1.4 26,026 26,635 -2.3
Proposals 1,539 1,720 1,378 -10.5 11.7 17,477 14,968 16.8
Ontario 3,248 3,776 3,725 -14.0 -12.8 42,108 45,509 -7.5
Bankruptcies 1,531 1,765 1,887 -13.3 -18.9 20,017 22,793 -12.2
Proposals 1,717 2,011 1,838 -14.6 -6.6 22,091 22,716 -2.8
Manitoba 166 165 170 0.6 -2.4 1,946 1,870 4.1
Bankruptcies 117 91 113 28.6 3.5 1,244 1,236 0.6
Proposals 49 74 57 -33.8 -14.0 702 634 10.7
Saskatchewan 130 183 158 -29.0 -17.7 2,018 1,799 12.2
Bankruptcies 63 107 90 -41.1 -30.0 1,160 1,098 5.6
Proposals 67 76 68 -11.8 -1.5 858 701 22.4
Alberta 654 727 629 -10.0 4.0 8,312 8,511 -2.3
Bankruptcies 302 353 331 -14.4 -8.8 3,991 4,890 -18.4
Proposals 352 374 298 -5.9 18.1 4,321 3,621 19.3
British Columbia 892 1,022 1,010 -12.7 -11.7 11,564 12,054 -4.1
Bankruptcies 478 508 587 -5.9 -18.6 6,582 7,325 -10.1
Proposals 414 514 423 -19.5 -2.1 4,982 4,729 5.3
Northwest Territories 5 4 5 25.0 0.0 47 51 -7.8
Bankruptcies 1 4 3 -75.0 -66.7 25 30 -16.7
Proposals 4 0 2 -- 100.0 22 21 4.8
Yukon 2 3 6 -33.3 -66.7 39 29 34.5
Bankruptcies 0 1 5 -100.0 -100.0 23 21 9.5
Proposals 2 2 1 0.0 100.0 16 8 100.0
Nunavut 0 2 1 -100.0 -100.0 6 5 20.0
Bankruptcies 0 2 1 -100.0 -100.0 4 3 33.3
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,738 11,205 10,171 -13.1 -4.3 121,364 122,496 -0.9
Bankruptcies 5,354 6,150 5,863 -12.9 -8.7 67,716 72,283 -6.3
Proposals 4,384 5,055 4,308 -13.3 1.8 53,648 50,213 6.8
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Nov. 2014 Oct. 2014 Nov. 2013 Oct. 2014
to
Nov. 2014
Nov. 2013
to
Nov. 2014
11-30-2014 11-30-2013 % change
Newfoundland and Labrador 129 143 146 -9.8 -11.6 1,540 1,690 -8.9
Bankruptcies 108 120 127 -10.0 -15.0 1,351 1,541 -12.3
Proposals 21 23 19 -8.7 10.5 189 149 26.8
Prince Edward Island 53 57 62 -7.0 -14.5 721 607 18.8
Bankruptcies 33 44 44 -25.0 -25.0 509 445 14.4
Proposals 20 13 18 53.8 11.1 212 162 30.9
Nova Scotia 368 507 351 -27.4 4.8 5,132 4,593 11.7
Bankruptcies 280 368 259 -23.9 8.1 3,666 3,238 13.2
Proposals 88 139 92 -36.7 -4.3 1,466 1,355 8.2
New Brunswick 348 384 348 -9.4 0.0 4,216 3,936 7.1
Bankruptcies 243 276 242 -12.0 0.4 2,956 2,849 3.8
Proposals 105 108 106 -2.8 -0.9 1,260 1,087 15.9
Quebec 3,516 3,984 3,360 -11.7 4.6 41,194 39,450 4.4
Bankruptcies 2,039 2,326 2,034 -12.3 0.2 24,322 25,055 -2.9
Proposals 1,477 1,658 1,326 -10.9 11.4 16,872 14,395 17.2
Ontario 3,156 3,656 3,640 -13.7 -13.3 40,989 44,307 -7.5
Bankruptcies 1,458 1,671 1,818 -12.7 -19.8 19,154 21,846 -12.3
Proposals 1,698 1,985 1,822 -14.5 -6.8 21,835 22,461 -2.8
Manitoba 160 162 165 -1.2 -3.0 1,887 1,805 4.5
Bankruptcies 111 89 111 24.7 0.0 1,193 1,183 0.8
Proposals 49 73 54 -32.9 -9.3 694 622 11.6
Saskatchewan 126 177 140 -28.8 -10.0 1,904 1,680 13.3
Bankruptcies 60 103 83 -41.7 -27.7 1,091 1,030 5.9
Proposals 66 74 57 -10.8 15.8 813 650 25.1
Alberta 643 711 619 -9.6 3.9 8,158 8,318 -1.9
Bankruptcies 292 339 323 -13.9 -9.6 3,881 4,751 -18.3
Proposals 351 372 296 -5.6 18.6 4,277 3,567 19.9
British Columbia 877 1,012 986 -13.3 -11.1 11,318 11,793 -4.0
Bankruptcies 466 498 568 -6.4 -18.0 6,387 7,131 -10.4
Proposals 411 514 418 -20.0 -1.7 4,931 4,662 5.8
Northwest Territories 5 4 5 25.0 0.0 47 51 -7.8
Bankruptcies 1 4 3 -75.0 -66.7 25 30 -16.7
Proposals 4 0 2 -- 100.0 22 21 4.8
Yukon 2 3 6 -33.3 -66.7 39 27 44.4
Bankruptcies 0 1 5 -100.0 -100.0 23 19 21.1
Proposals 2 2 1 0.0 100.0 16 8 100.0
Nunavut 0 1 1 -100.0 -100.0 5 5 0.0
Bankruptcies 0 1 1 -100.0 -100.0 3 3 0.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,383 10,801 9,829 -13.1 -4.5 117,150 118,262 -0.9
Bankruptcies 5,091 5,840 5,618 -12.8 -9.4 64,561 69,121 -6.6
Proposals 4,292 4,961 4,211 -13.5 1.9 52,589 49,141 7.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Nov. 2014 Oct. 2014 Nov. 2013 Oct. 2014
to
Nov. 2014
Nov. 2013
to
Nov. 2014
11-30-2014 11-30-2013 % change
Newfoundland and Labrador 2 8 1 -75.0 100.0 31 29 6.9
Bankruptcies 2 8 1 -75.0 100.0 28 18 55.6
Proposals 0 0 0 -- -- 3 11 -72.7
Prince Edward Island 2 0 1 -- 100.0 19 21 -9.5
Bankruptcies 2 0 1 -- 100.0 13 17 -23.5
Proposals 0 0 0 -- -- 6 4 50.0
Nova Scotia 7 4 11 75.0 -36.4 75 111 -32.4
Bankruptcies 5 4 6 25.0 -16.7 52 84 -38.1
Proposals 2 0 5 -- -60.0 23 27 -14.8
New Brunswick 8 10 15 -20.0 -46.7 87 78 11.5
Bankruptcies 4 9 12 -55.6 -66.7 69 60 15.0
Proposals 4 1 3 300.0 33.3 18 18 0.0
Quebec 208 226 172 -8.0 20.9 2,309 2,153 7.2
Bankruptcies 146 164 120 -11.0 21.7 1,704 1,580 7.8
Proposals 62 62 52 0.0 19.2 605 573 5.6
Ontario 92 120 85 -23.3 8.2 1,119 1,202 -6.9
Bankruptcies 73 94 69 -22.3 5.8 863 947 -8.9
Proposals 19 26 16 -26.9 18.8 256 255 0.4
Manitoba 6 3 5 100.0 20.0 59 65 -9.2
Bankruptcies 6 2 2 200.0 200.0 51 53 -3.8
Proposals 0 1 3 -100.0 -100.0 8 12 -33.3
Saskatchewan 4 6 18 -33.3 -77.8 114 119 -4.2
Bankruptcies 3 4 7 -25.0 -57.1 69 68 1.5
Proposals 1 2 11 -50.0 -90.9 45 51 -11.8
Alberta 11 16 10 -31.3 10.0 154 193 -20.2
Bankruptcies 10 14 8 -28.6 25.0 110 139 -20.9
Proposals 1 2 2 -50.0 -50.0 44 54 -18.5
British Columbia 15 10 24 50.0 -37.5 246 261 -5.7
Bankruptcies 12 10 19 20.0 -36.8 195 194 0.5
Proposals 3 0 5 -- -40.0 51 67 -23.9
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 1 0 -100.0 -- 1 0 --
Bankruptcies 0 1 0 -100.0 -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 355 404 342 -12.1 3.8 4,214 4,234 -0.5
Bankruptcies 263 310 245 -15.2 7.3 3,155 3,162 -0.2
Proposals 92 94 97 -2.1 -5.2 1,059 1,072 -1.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Nov. 2014 Oct. 2014 Nov. 2013 Oct. 2014
to
Nov. 2014
Nov. 2013
to
Nov. 2014
11-30-2014 11-30-2013 % change
Agriculture, Forestry, Fishing and Hunting 5 7 13 -28.6 -61.5 95 126 -24.6
Bankruptcies 5 6 8 -16.7 -37.5 69 87 -20.7
Proposals 0 1 5 -100.0 -100.0 26 39 -33.3
Mining and Oil and Gas Extraction 1 3 6 -66.7 -83.3 39 38 2.6
Bankruptcies 1 2 0 -50.0 -- 21 18 16.7
Proposals 0 1 6 -100.0 -100.0 18 20 -10.0
Utilities 0 0 0 -- -- 14 9 55.6
Bankruptcies 0 0 0 -- -- 11 3 266.7
Proposals 0 0 0 -- -- 3 6 -50.0
Construction 57 59 57 -3.4 0.0 726 735 -1.2
Bankruptcies 37 43 41 -14.0 -9.8 539 551 -2.2
Proposals 20 16 16 25.0 25.0 187 184 1.6
Manufacturing 28 40 27 -30.0 3.7 391 414 -5.6
Bankruptcies 18 24 22 -25.0 -18.2 273 293 -6.8
Proposals 10 16 5 -37.5 100.0 118 121 -2.5
Wholesale Trade 14 17 20 -17.6 -30.0 222 230 -3.5
Bankruptcies 9 11 12 -18.2 -25.0 147 164 -10.4
Proposals 5 6 8 -16.7 -37.5 75 66 13.6
Retail Trade 42 50 48 -16.0 -12.5 511 521 -1.9
Bankruptcies 32 38 36 -15.8 -11.1 393 412 -4.6
Proposals 10 12 12 -16.7 -16.7 118 109 8.3
Transportation and Warehousing 19 29 21 -34.5 -9.5 243 244 -0.4
Bankruptcies 13 23 17 -43.5 -23.5 191 193 -1.0
Proposals 6 6 4 0.0 50.0 52 51 2.0
Information and Cultural Industries 10 9 3 11.1 233.3 75 52 44.2
Bankruptcies 7 5 1 40.0 600.0 52 44 18.2
Proposals 3 4 2 -25.0 50.0 23 8 187.5
Finance and Insurance 7 10 5 -30.0 40.0 77 80 -3.8
Bankruptcies 7 7 4 0.0 75.0 58 66 -12.1
Proposals 0 3 1 -100.0 -100.0 19 14 35.7
Real Estate and Rental and Leasing 15 12 16 25.0 -6.3 139 148 -6.1
Bankruptcies 10 10 12 0.0 -16.7 104 114 -8.8
Proposals 5 2 4 150.0 25.0 35 34 2.9
Professional, Scientific and Technical Services 31 30 23 3.3 34.8 299 304 -1.6
Bankruptcies 24 25 14 -4.0 71.4 234 221 5.9
Proposals 7 5 9 40.0 -22.2 65 83 -21.7
Management of Companies and Enterprises 6 4 5 50.0 20.0 58 67 -13.4
Bankruptcies 5 2 3 150.0 66.7 44 47 -6.4
Proposals 1 2 2 -50.0 -50.0 14 20 -30.0
Administrative and Support, Waste Management and Remediation Services 17 22 9 -22.7 88.9 217 194 11.9
Bankruptcies 11 18 7 -38.9 57.1 160 145 10.3
Proposals 6 4 2 50.0 200.0 57 49 16.3
Educational Services 3 4 1 -25.0 200.0 50 36 38.9
Bankruptcies 3 4 1 -25.0 200.0 43 27 59.3
Proposals 0 0 0 -- -- 7 9 -22.2
Health Care and Social Assistance 10 21 10 -52.4 0.0 96 64 50.0
Bankruptcies 7 17 9 -58.8 -22.2 72 50 44.0
Proposals 3 4 1 -25.0 200.0 24 14 71.4
Arts, Entertainment and Recreation 10 6 4 66.7 150.0 86 80 7.5
Bankruptcies 3 6 3 -50.0 0.0 69 69 0.0
Proposals 7 0 1 -- 600.0 17 11 54.5
Accommodation and Food Services 70 63 52 11.1 34.6 668 640 4.4
Bankruptcies 63 53 38 18.9 65.8 505 461 9.5
Proposals 7 10 14 -30.0 -50.0 163 179 -8.9
Other Services (except Public Administration) 10 18 22 -44.4 -54.5 207 252 -17.9
Bankruptcies 8 16 17 -50.0 -52.9 169 197 -14.2
Proposals 2 2 5 0.0 -60.0 38 55 -30.9
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 355 404 342 -12.1 3.8 4,214 4,234 -0.5
Bankruptcies 263 310 245 -15.2 7.3 3,155 3,162 -0.2
Proposals 92 94 97 -2.1 -5.2 1,059 1,072 -1.2
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