Insolvency Statistics in Canada—December 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
Dec. 2014 Nov. 2014 Dec. 2013 Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-2014 12-31-2013 % change
Newfoundland and Labrador 92 131 88 -29.8 4.5 1,575 1,710 -7.9
Bankruptcies 74 110 78 -32.7 -5.1 1,375 1,545 -11.0
Proposals 18 21 10 -14.3 80.0 200 165 21.2
Prince Edward Island 55 55 56 0.0 -1.8 739 640 15.5
Bankruptcies 27 35 34 -22.9 -20.6 515 458 12.4
Proposals 28 20 22 40.0 27.3 224 182 23.1
Nova Scotia 416 375 319 10.9 30.4 5,304 4,771 11.2
Bankruptcies 299 285 239 4.9 25.1 3,778 3,379 11.8
Proposals 117 90 80 30.0 46.3 1,526 1,392 9.6
New Brunswick 357 356 265 0.3 34.7 4,395 4,037 8.9
Bankruptcies 254 247 190 2.8 33.7 3,089 2,910 6.2
Proposals 103 109 75 -5.5 37.3 1,306 1,127 15.9
Quebec 3,276 3,724 2,888 -12.0 13.4 43,891 42,127 4.2
Bankruptcies 1,871 2,185 1,760 -14.4 6.3 26,137 26,812 -2.5
Proposals 1,405 1,539 1,128 -8.7 24.6 17,754 15,315 15.9
Ontario 3,250 3,248 3,160 0.1 2.8 42,198 45,354 -7.0
Bankruptcies 1,703 1,531 1,651 11.2 3.1 20,069 22,731 -11.7
Proposals 1,547 1,717 1,509 -9.9 2.5 22,129 22,623 -2.2
Manitoba 179 166 177 7.8 1.1 1,948 1,919 1.5
Bankruptcies 128 117 124 9.4 3.2 1,248 1,269 -1.7
Proposals 51 49 53 4.1 -3.8 700 650 7.7
Saskatchewan 169 130 125 30.0 35.2 2,062 1,805 14.2
Bankruptcies 99 63 77 57.1 28.6 1,182 1,106 6.9
Proposals 70 67 48 4.5 45.8 880 699 25.9
Alberta 666 654 556 1.8 19.8 8,422 8,452 -0.4
Bankruptcies 271 302 298 -10.3 -9.1 3,964 4,826 -17.9
Proposals 395 352 258 12.2 53.1 4,458 3,626 22.9
British Columbia 891 892 816 -0.1 9.2 11,639 12,057 -3.5
Bankruptcies 488 478 525 2.1 -7.0 6,545 7,319 -10.6
Proposals 403 414 291 -2.7 38.5 5,094 4,738 7.5
Northwest Territories 7 5 5 40.0 40.0 49 51 -3.9
Bankruptcies 5 1 4 400.0 25.0 26 31 -16.1
Proposals 2 4 1 -50.0 100.0 23 20 15.0
Yukon 4 2 3 100.0 33.3 40 31 29.0
Bankruptcies 1 0 2 -- -50.0 22 22 0.0
Proposals 3 2 1 50.0 200.0 18 9 100.0
Nunavut 1 0 0 -- -- 7 5 40.0
Bankruptcies 1 0 0 -- -- 5 3 66.7
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,363 9,738 8,458 -3.9 10.7 122,269 122,959 -0.6
Bankruptcies 5,221 5,354 4,982 -2.5 4.8 67,955 72,411 -6.2
Proposals 4,142 4,384 3,476 -5.5 19.2 54,314 50,548 7.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Dec. 2014 Nov. 2014 Dec. 2013 Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-2014 12-31-2013 % change
Newfoundland and Labrador 90 129 85 -30.2 5.9 1,545 1,678 -7.9
Bankruptcies 72 108 75 -33.3 -4.0 1,348 1,524 -11.5
Proposals 18 21 10 -14.3 80.0 197 154 27.9
Prince Edward Island 53 53 53 0.0 0.0 721 617 16.9
Bankruptcies 25 33 32 -24.2 -21.9 502 440 14.1
Proposals 28 20 21 40.0 33.3 219 177 23.7
Nova Scotia 409 368 314 11.1 30.3 5,227 4,660 12.2
Bankruptcies 294 280 234 5.0 25.6 3,726 3,295 13.1
Proposals 115 88 80 30.7 43.8 1,501 1,365 10.0
New Brunswick 349 348 257 0.3 35.8 4,308 3,955 8.9
Bankruptcies 247 243 182 1.6 35.7 3,021 2,846 6.1
Proposals 102 105 75 -2.9 36.0 1,287 1,109 16.1
Quebec 3,055 3,516 2,695 -13.1 13.4 41,554 39,947 4.0
Bankruptcies 1,742 2,039 1,617 -14.6 7.7 24,447 25,221 -3.1
Proposals 1,313 1,477 1,078 -11.1 21.8 17,107 14,726 16.2
Ontario 3,169 3,156 3,050 0.4 3.9 41,108 44,134 -6.9
Bankruptcies 1,645 1,458 1,565 12.8 5.1 19,234 21,773 -11.7
Proposals 1,524 1,698 1,485 -10.2 2.6 21,874 22,361 -2.2
Manitoba 175 160 171 9.4 2.3 1,891 1,852 2.1
Bankruptcies 125 111 118 12.6 5.9 1,200 1,214 -1.2
Proposals 50 49 53 2.0 -5.7 691 638 8.3
Saskatchewan 159 126 125 26.2 27.2 1,938 1,690 14.7
Bankruptcies 91 60 77 51.7 18.2 1,105 1,038 6.5
Proposals 68 66 48 3.0 41.7 833 652 27.8
Alberta 654 643 531 1.7 23.2 8,281 8,258 0.3
Bankruptcies 262 292 284 -10.3 -7.7 3,859 4,689 -17.7
Proposals 392 351 247 11.7 58.7 4,422 3,569 23.9
British Columbia 866 877 801 -1.3 8.1 11,383 11,802 -3.6
Bankruptcies 470 466 512 0.9 -8.2 6,345 7,130 -11.0
Proposals 396 411 289 -3.6 37.0 5,038 4,672 7.8
Northwest Territories 7 5 5 40.0 40.0 49 51 -3.9
Bankruptcies 5 1 4 400.0 25.0 26 31 -16.1
Proposals 2 4 1 -50.0 100.0 23 20 15.0
Yukon 3 2 3 50.0 0.0 39 29 34.5
Bankruptcies 1 0 2 -- -50.0 22 20 10.0
Proposals 2 2 1 0.0 100.0 17 9 88.9
Nunavut 1 0 0 -- -- 6 5 20.0
Bankruptcies 1 0 0 -- -- 4 3 33.3
Proposals 0 0 0 -- -- 2 2 0.0
Canada 8,990 9,383 8,090 -4.2 11.1 118,050 118,678 -0.5
Bankruptcies 4,980 5,091 4,702 -2.2 5.9 64,839 69,224 -6.3
Proposals 4,010 4,292 3,388 -6.6 18.4 53,211 49,454 7.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Dec. 2014 Nov. 2014 Dec. 2013 Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-2014 12-31-2013 % change
Newfoundland and Labrador 2 2 3 0.0 -33.3 30 32 -6.3
Bankruptcies 2 2 3 0.0 -33.3 27 21 28.6
Proposals 0 0 0 -- -- 3 11 -72.7
Prince Edward Island 2 2 3 0.0 -33.3 18 23 -21.7
Bankruptcies 2 2 2 0.0 0.0 13 18 -27.8
Proposals 0 0 1 -- -100.0 5 5 0.0
Nova Scotia 7 7 5 0.0 40.0 77 111 -30.6
Bankruptcies 5 5 5 0.0 0.0 52 84 -38.1
Proposals 2 2 0 0.0 -- 25 27 -7.4
New Brunswick 8 8 8 0.0 0.0 87 82 6.1
Bankruptcies 7 4 8 75.0 -12.5 68 64 6.3
Proposals 1 4 0 -75.0 -- 19 18 5.6
Quebec 221 208 193 6.3 14.5 2,337 2,180 7.2
Bankruptcies 129 146 143 -11.6 -9.8 1,690 1,591 6.2
Proposals 92 62 50 48.4 84.0 647 589 9.8
Ontario 81 92 110 -12.0 -26.4 1,090 1,220 -10.7
Bankruptcies 58 73 86 -20.5 -32.6 835 958 -12.8
Proposals 23 19 24 21.1 -4.2 255 262 -2.7
Manitoba 4 6 6 -33.3 -33.3 57 67 -14.9
Bankruptcies 3 6 6 -50.0 -50.0 48 55 -12.7
Proposals 1 0 0 -- -- 9 12 -25.0
Saskatchewan 10 4 0 150.0 -- 124 115 7.8
Bankruptcies 8 3 0 166.7 -- 77 68 13.2
Proposals 2 1 0 100.0 -- 47 47 0.0
Alberta 12 11 25 9.1 -52.0 141 194 -27.3
Bankruptcies 9 10 14 -10.0 -35.7 105 137 -23.4
Proposals 3 1 11 200.0 -72.7 36 57 -36.8
British Columbia 25 15 15 66.7 66.7 256 255 0.4
Bankruptcies 18 12 13 50.0 38.5 200 189 5.8
Proposals 7 3 2 133.3 250.0 56 66 -15.2
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 1 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Proposals 1 0 0 -- -- 1 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 373 355 368 5.1 1.4 4,219 4,281 -1.4
Bankruptcies 241 263 280 -8.4 -13.9 3,116 3,187 -2.2
Proposals 132 92 88 43.5 50.0 1,103 1,094 0.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Dec. 2014 Nov. 2014 Dec. 2013 Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-2014 12-31-2013 % change
Agriculture, Forestry, Fishing and Hunting 6 5 13 20.0 -53.8 88 133 -33.8
Bankruptcies 2 5 11 -60.0 -81.8 60 93 -35.5
Proposals 4 0 2 -- 100.0 28 40 -30.0
Mining and Oil and Gas Extraction 3 1 2 200.0 50.0 40 33 21.2
Bankruptcies 1 1 2 0.0 -50.0 20 15 33.3
Proposals 2 0 0 -- -- 20 18 11.1
Utilities 2 0 3 -- -33.3 13 10 30.0
Bankruptcies 0 0 2 -- -100.0 9 5 80.0
Proposals 2 0 1 -- 100.0 4 5 -20.0
Construction 55 57 62 -3.5 -11.3 719 748 -3.9
Bankruptcies 42 37 51 13.5 -17.6 530 564 -6.0
Proposals 13 20 11 -35.0 18.2 189 184 2.7
Manufacturing 34 28 39 21.4 -12.8 386 423 -8.7
Bankruptcies 28 18 25 55.6 12.0 276 295 -6.4
Proposals 6 10 14 -40.0 -57.1 110 128 -14.1
Wholesale Trade 27 14 23 92.9 17.4 226 231 -2.2
Bankruptcies 20 9 12 122.2 66.7 155 161 -3.7
Proposals 7 5 11 40.0 -36.4 71 70 1.4
Retail Trade 33 42 46 -21.4 -28.3 498 528 -5.7
Bankruptcies 24 32 41 -25.0 -41.5 376 421 -10.7
Proposals 9 10 5 -10.0 80.0 122 107 14.0
Transportation and Warehousing 46 19 16 142.1 187.5 273 237 15.2
Bankruptcies 9 13 15 -30.8 -40.0 185 187 -1.1
Proposals 37 6 1 516.7 3,600.0 88 50 76.0
Information and Cultural Industries 5 10 9 -50.0 -44.4 71 52 36.5
Bankruptcies 4 7 6 -42.9 -33.3 50 42 19.0
Proposals 1 3 3 -66.7 -66.7 21 10 110.0
Finance and Insurance 8 7 5 14.3 60.0 80 78 2.6
Bankruptcies 8 7 2 14.3 300.0 64 63 1.6
Proposals 0 0 3 -- -100.0 16 15 6.7
Real Estate and Rental and Leasing 7 15 12 -53.3 -41.7 134 144 -6.9
Bankruptcies 6 10 9 -40.0 -33.3 101 109 -7.3
Proposals 1 5 3 -80.0 -66.7 33 35 -5.7
Professional, Scientific and Technical Services 31 31 22 0.0 40.9 308 304 1.3
Bankruptcies 25 24 17 4.2 47.1 242 219 10.5
Proposals 6 7 5 -14.3 20.0 66 85 -22.4
Management of Companies and Enterprises 7 6 6 16.7 16.7 59 69 -14.5
Bankruptcies 5 5 2 0.0 150.0 47 46 2.2
Proposals 2 1 4 100.0 -50.0 12 23 -47.8
Administrative and Support, Waste Management and Remediation Services 26 17 20 52.9 30.0 223 199 12.1
Bankruptcies 12 11 15 9.1 -20.0 157 148 6.1
Proposals 14 6 5 133.3 180.0 66 51 29.4
Educational Services 3 3 1 0.0 200.0 52 35 48.6
Bankruptcies 2 3 1 -33.3 100.0 44 26 69.2
Proposals 1 0 0 -- -- 8 9 -11.1
Health Care and Social Assistance 10 10 7 0.0 42.9 99 67 47.8
Bankruptcies 5 7 4 -28.6 25.0 73 51 43.1
Proposals 5 3 3 66.7 66.7 26 16 62.5
Arts, Entertainment and Recreation 5 10 7 -50.0 -28.6 84 81 3.7
Bankruptcies 4 3 5 33.3 -20.0 68 68 0.0
Proposals 1 7 2 -85.7 -50.0 16 13 23.1
Accommodation and Food Services 49 70 57 -30.0 -14.0 660 660 0.0
Bankruptcies 34 63 46 -46.0 -26.1 493 480 2.7
Proposals 15 7 11 114.3 36.4 167 180 -7.2
Other Services (except Public Administration) 16 10 18 60.0 -11.1 205 249 -17.7
Bankruptcies 10 8 14 25.0 -28.6 165 194 -14.9
Proposals 6 2 4 200.0 50.0 40 55 -27.3
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 373 355 368 5.1 1.4 4,219 4,281 -1.4
Bankruptcies 241 263 280 -8.4 -13.9 3,116 3,187 -2.2
Proposals 132 92 88 43.5 50.0 1,103 1,094 0.8
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