Insolvency Statistics in Canada—January 2015

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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
Jan. 2015 Dec. 2014 Jan. 2014 Dec. 2014
to
Jan. 2015
Jan. 2014
to
Jan. 2015
01-31-2015 01-31-2014 % change
Newfoundland and Labrador 108 92 110 17.4 -1.8 1,573 1,677 -6.2
Bankruptcies 92 74 101 24.3 -8.9 1,366 1,512 -9.7
Proposals 16 18 9 -11.1 77.8 207 165 25.5
Prince Edward Island 43 55 64 -21.8 -32.8 718 654 9.8
Bankruptcies 33 27 48 22.2 -31.3 500 464 7.8
Proposals 10 28 16 -64.3 -37.5 218 190 14.7
Nova Scotia 368 416 302 -11.5 21.9 5,370 4,753 13.0
Bankruptcies 251 299 198 -16.1 26.8 3,831 3,352 14.3
Proposals 117 117 104 0.0 12.5 1,539 1,401 9.9
New Brunswick 261 357 310 -26.9 -15.8 4,346 4,054 7.2
Bankruptcies 167 254 215 -34.3 -22.3 3,041 2,899 4.9
Proposals 94 103 95 -8.7 -1.1 1,305 1,155 13.0
Quebec 3,558 3,276 3,451 8.6 3.1 43,998 42,258 4.1
Bankruptcies 1,921 1,871 2,097 2.7 -8.4 25,961 26,754 -3.0
Proposals 1,637 1,405 1,354 16.5 20.9 18,037 15,504 16.3
Ontario 2,888 3,250 3,113 -11.1 -7.2 41,973 44,863 -6.4
Bankruptcies 1,273 1,703 1,415 -25.2 -10.0 19,927 22,455 -11.3
Proposals 1,615 1,547 1,698 4.4 -4.9 22,046 22,408 -1.6
Manitoba 147 179 122 -17.9 20.5 1,973 1,917 2.9
Bankruptcies 90 128 76 -29.7 18.4 1,262 1,258 0.3
Proposals 57 51 46 11.8 23.9 711 659 7.9
Saskatchewan 143 169 166 -15.4 -13.9 2,039 1,839 10.9
Bankruptcies 71 99 99 -28.3 -28.3 1,154 1,122 2.9
Proposals 72 70 67 2.9 7.5 885 717 23.4
Alberta 652 666 644 -2.1 1.2 8,430 8,345 1.0
Bankruptcies 287 271 343 5.9 -16.3 3,908 4,713 -17.1
Proposals 365 395 301 -7.6 21.3 4,522 3,632 24.5
British Columbia 910 891 859 2.1 5.9 11,690 11,989 -2.5
Bankruptcies 521 488 499 6.8 4.4 6,567 7,213 -9.0
Proposals 389 403 360 -3.5 8.1 5,123 4,776 7.3
Northwest Territories 1 7 0 -85.7 -- 50 49 2.0
Bankruptcies 0 5 0 -100.0 -- 26 30 -13.3
Proposals 1 2 0 -50.0 -- 24 19 26.3
Yukon 3 4 5 -25.0 -40.0 38 36 5.6
Bankruptcies 1 1 5 0.0 -80.0 18 27 -33.3
Proposals 2 3 0 -33.3 -- 20 9 122.2
Nunavut 1 1 2 0.0 -50.0 6 7 -14.3
Bankruptcies 0 1 2 -100.0 -100.0 3 5 -40.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,083 9,363 9,148 -3.0 -0.7 122,204 122,441 -0.2
Bankruptcies 4,707 5,221 5,098 -9.8 -7.7 67,564 71,804 -5.9
Proposals 4,376 4,142 4,050 5.6 8.0 54,640 50,637 7.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Jan. 2015 Dec. 2014 Jan. 2014 Dec. 2014
to
Jan. 2015
Jan. 2014
to
Jan. 2015
01-31-2015 01-31-2014 % change
Newfoundland and Labrador 107 90 106 18.9 0.9 1,546 1,646 -6.1
Bankruptcies 91 72 98 26.4 -7.1 1,341 1,491 -10.1
Proposals 16 18 8 -11.1 100.0 205 155 32.3
Prince Edward Island 42 53 64 -20.8 -34.4 699 634 10.3
Bankruptcies 33 25 48 32.0 -31.3 487 449 8.5
Proposals 9 28 16 -67.9 -43.8 212 185 14.6
Nova Scotia 360 409 298 -12.0 20.8 5,289 4,649 13.8
Bankruptcies 246 294 195 -16.3 26.2 3,777 3,274 15.4
Proposals 114 115 103 -0.9 10.7 1,512 1,375 10.0
New Brunswick 254 349 305 -27.2 -16.7 4,257 3,973 7.1
Bankruptcies 164 247 210 -33.6 -21.9 2,975 2,834 5.0
Proposals 90 102 95 -11.8 -5.3 1,282 1,139 12.6
Quebec 3,373 3,055 3,286 10.4 2.6 41,641 40,063 3.9
Bankruptcies 1,791 1,742 1,970 2.8 -9.1 24,268 25,145 -3.5
Proposals 1,582 1,313 1,316 20.5 20.2 17,373 14,918 16.5
Ontario 2,807 3,169 3,013 -11.4 -6.8 40,902 43,638 -6.3
Bankruptcies 1,209 1,645 1,342 -26.5 -9.9 19,101 21,502 -11.2
Proposals 1,598 1,524 1,671 4.9 -4.4 21,801 22,136 -1.5
Manitoba 146 175 118 -16.6 23.7 1,919 1,852 3.6
Bankruptcies 90 125 72 -28.0 25.0 1,218 1,204 1.2
Proposals 56 50 46 12.0 21.7 701 648 8.2
Saskatchewan 135 159 148 -15.1 -8.8 1,925 1,712 12.4
Bankruptcies 65 91 87 -28.6 -25.3 1,083 1,045 3.6
Proposals 70 68 61 2.9 14.8 842 667 26.2
Alberta 640 654 636 -2.1 0.6 8,285 8,159 1.5
Bankruptcies 278 262 336 6.1 -17.3 3,801 4,579 -17.0
Proposals 362 392 300 -7.7 20.7 4,484 3,580 25.3
British Columbia 894 866 844 3.2 5.9 11,433 11,740 -2.6
Bankruptcies 510 470 486 8.5 4.9 6,369 7,027 -9.4
Proposals 384 396 358 -3.0 7.3 5,064 4,713 7.4
Northwest Territories 1 7 0 -85.7 -- 50 49 2.0
Bankruptcies 0 5 0 -100.0 -- 26 30 -13.3
Proposals 1 2 0 -50.0 -- 24 19 26.3
Yukon 3 3 5 0.0 -40.0 37 34 8.8
Bankruptcies 1 1 5 0.0 -80.0 18 25 -28.0
Proposals 2 2 0 0.0 -- 19 9 111.1
Nunavut 1 1 2 0.0 -50.0 5 7 -28.6
Bankruptcies 0 1 2 -100.0 -100.0 2 5 -60.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 8,763 8,990 8,825 -2.5 -0.7 117,988 118,156 -0.1
Bankruptcies 4,478 4,980 4,851 -10.1 -7.7 64,466 68,610 -6.0
Proposals 4,285 4,010 3,974 6.9 7.8 53,522 49,546 8.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Jan. 2015 Dec. 2014 Jan. 2014 Dec. 2014
to
Jan. 2015
Jan. 2014
to
Jan. 2015
01-31-2015 01-31-2014 % change
Newfoundland and Labrador 1 2 4 -50.0 -75.0 27 31 -12.9
Bankruptcies 1 2 3 -50.0 -66.7 25 21 19.0
Proposals 0 0 1 -- -100.0 2 10 -80.0
Prince Edward Island 1 2 0 -50.0 -- 19 20 -5.0
Bankruptcies 0 2 0 -100.0 -- 13 15 -13.3
Proposals 1 0 0 -- -- 6 5 20.0
Nova Scotia 8 7 4 14.3 100.0 81 104 -22.1
Bankruptcies 5 5 3 0.0 66.7 54 78 -30.8
Proposals 3 2 1 50.0 200.0 27 26 3.8
New Brunswick 7 8 5 -12.5 40.0 89 81 9.9
Bankruptcies 3 7 5 -57.1 -40.0 66 65 1.5
Proposals 4 1 0 300.0 -- 23 16 43.8
Quebec 185 221 165 -16.3 12.1 2,357 2,195 7.4
Bankruptcies 130 129 127 0.8 2.4 1,693 1,609 5.2
Proposals 55 92 38 -40.2 44.7 664 586 13.3
Ontario 81 81 100 0.0 -19.0 1,071 1,225 -12.6
Bankruptcies 64 58 73 10.3 -12.3 826 953 -13.3
Proposals 17 23 27 -26.1 -37.0 245 272 -9.9
Manitoba 1 4 4 -75.0 -75.0 54 65 -16.9
Bankruptcies 0 3 4 -100.0 -100.0 44 54 -18.5
Proposals 1 1 0 0.0 -- 10 11 -9.1
Saskatchewan 8 10 18 -20.0 -55.6 114 127 -10.2
Bankruptcies 6 8 12 -25.0 -50.0 71 77 -7.8
Proposals 2 2 6 0.0 -66.7 43 50 -14.0
Alberta 12 12 8 0.0 50.0 145 186 -22.0
Bankruptcies 9 9 7 0.0 28.6 107 134 -20.1
Proposals 3 3 1 0.0 200.0 38 52 -26.9
British Columbia 16 25 15 -36.0 6.7 257 249 3.2
Bankruptcies 11 18 13 -38.9 -15.4 198 186 6.5
Proposals 5 7 2 -28.6 150.0 59 63 -6.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 1 0 -100.0 -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Proposals 0 1 0 -100.0 -- 1 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 320 373 323 -14.2 -0.9 4,216 4,285 -1.6
Bankruptcies 229 241 247 -5.0 -7.3 3,098 3,194 -3.0
Proposals 91 132 76 -31.1 19.7 1,118 1,091 2.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Jan. 2015 Dec. 2014 Jan. 2014 Dec. 2014
to
Jan. 2015
Jan. 2014
to
Jan. 2015
01-31-2015 01-31-2014 % change
Agriculture, Forestry, Fishing and Hunting 7 6 9 16.7 -22.2 86 132 -34.8
Bankruptcies 7 2 8 250.0 -12.5 59 95 -37.9
Proposals 0 4 1 -100.0 -100.0 27 37 -27.0
Mining and Oil and Gas Extraction 3 3 3 0.0 0.0 40 36 11.1
Bankruptcies 1 1 2 0.0 -50.0 19 17 11.8
Proposals 2 2 1 0.0 100.0 21 19 10.5
Utilities 0 2 1 -100.0 -100.0 12 10 20.0
Bankruptcies 0 0 1 -- -100.0 8 6 33.3
Proposals 0 2 0 -100.0 -- 4 4 0.0
Construction 52 55 65 -5.5 -20.0 706 762 -7.3
Bankruptcies 38 42 50 -9.5 -24.0 518 576 -10.1
Proposals 14 13 15 7.7 -6.7 188 186 1.1
Manufacturing 16 34 32 -52.9 -50.0 370 420 -11.9
Bankruptcies 9 28 24 -67.9 -62.5 261 297 -12.1
Proposals 7 6 8 16.7 -12.5 109 123 -11.4
Wholesale Trade 24 27 21 -11.1 14.3 229 237 -3.4
Bankruptcies 13 20 16 -35.0 -18.8 152 164 -7.3
Proposals 11 7 5 57.1 120.0 77 73 5.5
Retail Trade 45 33 45 36.4 0.0 498 530 -6.0
Bankruptcies 29 24 39 20.8 -25.6 366 424 -13.7
Proposals 16 9 6 77.8 166.7 132 106 24.5
Transportation and Warehousing 21 46 15 -54.3 40.0 279 228 22.4
Bankruptcies 15 9 11 66.7 36.4 189 179 5.6
Proposals 6 37 4 -83.8 50.0 90 49 83.7
Information and Cultural Industries 2 5 5 -60.0 -60.0 68 55 23.6
Bankruptcies 0 4 3 -100.0 -100.0 47 44 6.8
Proposals 2 1 2 100.0 0.0 21 11 90.9
Finance and Insurance 12 8 3 50.0 300.0 89 74 20.3
Bankruptcies 7 8 3 -12.5 133.3 68 61 11.5
Proposals 5 0 0 -- -- 21 13 61.5
Real Estate and Rental and Leasing 7 7 9 0.0 -22.2 132 149 -11.4
Bankruptcies 6 6 6 0.0 0.0 101 113 -10.6
Proposals 1 1 3 0.0 -66.7 31 36 -13.9
Professional, Scientific and Technical Services 26 31 15 -16.1 73.3 319 302 5.6
Bankruptcies 20 25 9 -20.0 122.2 253 215 17.7
Proposals 6 6 6 0.0 0.0 66 87 -24.1
Management of Companies and Enterprises 4 7 5 -42.9 -20.0 58 73 -20.5
Bankruptcies 3 5 5 -40.0 -40.0 45 50 -10.0
Proposals 1 2 0 -50.0 -- 13 23 -43.5
Administrative and Support, Waste Management and Remediation Services 17 26 8 -34.6 112.5 232 186 24.7
Bankruptcies 10 12 5 -16.7 100.0 162 136 19.1
Proposals 7 14 3 -50.0 133.3 70 50 40.0
Educational Services 3 3 2 0.0 50.0 53 34 55.9
Bankruptcies 3 2 2 50.0 50.0 45 25 80.0
Proposals 0 1 0 -100.0 -- 8 9 -11.1
Health Care and Social Assistance 4 10 1 -60.0 300.0 102 65 56.9
Bankruptcies 4 5 1 -20.0 300.0 76 50 52.0
Proposals 0 5 0 -100.0 -- 26 15 73.3
Arts, Entertainment and Recreation 3 5 1 -40.0 200.0 86 76 13.2
Bankruptcies 3 4 1 -25.0 200.0 70 65 7.7
Proposals 0 1 0 -100.0 -- 16 11 45.5
Accommodation and Food Services 51 49 64 4.1 -20.3 647 671 -3.6
Bankruptcies 43 34 47 26.5 -8.5 489 490 -0.2
Proposals 8 15 17 -46.7 -52.9 158 181 -12.7
Other Services (except Public Administration) 23 16 19 43.8 21.1 209 245 -14.7
Bankruptcies 18 10 14 80.0 28.6 169 187 -9.6
Proposals 5 6 5 -16.7 0.0 40 58 -31.0
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 320 373 323 -14.2 -0.9 4,216 4,285 -1.6
Bankruptcies 229 241 247 -5.0 -7.3 3,098 3,194 -3.0
Proposals 91 132 76 -31.1 19.7 1,118 1,091 2.5
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