Insolvency Statistics in Canada—February 2015

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
Feb. 2015 Jan. 2015 Feb. 2014 Jan. 2015
to
Feb. 2015
Feb. 2014
to
Feb. 2015
02-28-2015 02-28-2014 % change
Newfoundland and Labrador 147 108 128 36.1 14.8 1,592 1,656 -3.9
Bankruptcies 123 92 116 33.7 6.0 1,373 1,492 -8.0
Proposals 24 16 12 50.0 100.0 219 164 33.5
Prince Edward Island 62 43 48 44.2 29.2 732 655 11.8
Bankruptcies 42 33 29 27.3 44.8 513 458 12.0
Proposals 20 10 19 100.0 5.3 219 197 11.2
Nova Scotia 398 368 434 8.2 -8.3 5,334 4,847 10.0
Bankruptcies 255 251 287 1.6 -11.1 3,799 3,407 11.5
Proposals 143 117 147 22.2 -2.7 1,535 1,440 6.6
New Brunswick 313 261 333 19.9 -6.0 4,326 4,072 6.2
Bankruptcies 206 167 236 23.4 -12.7 3,011 2,902 3.8
Proposals 107 94 97 13.8 10.3 1,315 1,170 12.4
Quebec 3,884 3,558 3,670 9.2 5.8 44,212 42,468 4.1
Bankruptcies 2,070 1,921 2,188 7.8 -5.4 25,843 26,733 -3.3
Proposals 1,814 1,637 1,482 10.8 22.4 18,369 15,735 16.7
Ontario 3,227 2,888 3,425 11.7 -5.8 41,775 44,882 -6.9
Bankruptcies 1,467 1,273 1,566 15.2 -6.3 19,828 22,400 -11.5
Proposals 1,760 1,615 1,859 9.0 -5.3 21,947 22,482 -2.4
Manitoba 161 147 130 9.5 23.8 2,004 1,922 4.3
Bankruptcies 85 90 84 -5.6 1.2 1,263 1,266 -0.2
Proposals 76 57 46 33.3 65.2 741 656 13.0
Saskatchewan 171 143 154 19.6 11.0 2,056 1,867 10.1
Bankruptcies 82 71 90 15.5 -8.9 1,146 1,135 1.0
Proposals 89 72 64 23.6 39.1 910 732 24.3
Alberta 744 652 679 14.1 9.6 8,495 8,311 2.2
Bankruptcies 336 287 313 17.1 7.3 3,931 4,600 -14.5
Proposals 408 365 366 11.8 11.5 4,564 3,711 23.0
British Columbia 964 910 921 5.9 4.7 11,733 11,926 -1.6
Bankruptcies 524 521 541 0.6 -3.1 6,550 7,153 -8.4
Proposals 440 389 380 13.1 15.8 5,183 4,773 8.6
Northwest Territories 2 1 4 100.0 -50.0 48 49 -2.0
Bankruptcies 1 0 2 -- -50.0 25 29 -13.8
Proposals 1 1 2 0.0 -50.0 23 20 15.0
Yukon 4 3 3 33.3 33.3 39 33 18.2
Bankruptcies 4 1 1 300.0 300.0 21 25 -16.0
Proposals 0 2 2 -100.0 -100.0 18 8 125.0
Nunavut 0 1 1 -100.0 -100.0 5 8 -37.5
Bankruptcies 0 0 0 -- -- 3 5 -40.0
Proposals 0 1 1 -100.0 -100.0 2 3 -33.3
Canada 10,077 9,083 9,930 10.9 1.5 122,351 122,696 -0.3
Bankruptcies 5,195 4,707 5,453 10.4 -4.7 67,306 71,605 -6.0
Proposals 4,882 4,376 4,477 11.6 9.0 55,045 51,091 7.7
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Feb. 2015 Jan. 2015 Feb. 2014 Jan. 2015
to
Feb. 2015
Feb. 2014
to
Feb. 2015
02-28-2015 02-28-2014 % change
Newfoundland and Labrador 144 107 127 34.6 13.4 1,563 1,625 -3.8
Bankruptcies 121 91 115 33.0 5.2 1,347 1,471 -8.4
Proposals 23 16 12 43.8 91.7 216 154 40.3
Prince Edward Island 61 42 48 45.2 27.1 712 638 11.6
Bankruptcies 41 33 29 24.2 41.4 499 446 11.9
Proposals 20 9 19 122.2 5.3 213 192 10.9
Nova Scotia 392 360 427 8.9 -8.2 5,254 4,748 10.7
Bankruptcies 253 246 284 2.8 -10.9 3,746 3,334 12.4
Proposals 139 114 143 21.9 -2.8 1,508 1,414 6.6
New Brunswick 306 254 327 20.5 -6.4 4,236 3,992 6.1
Bankruptcies 203 164 233 23.8 -12.9 2,945 2,839 3.7
Proposals 103 90 94 14.4 9.6 1,291 1,153 12.0
Quebec 3,687 3,373 3,465 9.3 6.4 41,863 40,282 3.9
Bankruptcies 1,926 1,791 2,039 7.5 -5.5 24,155 25,126 -3.9
Proposals 1,761 1,582 1,426 11.3 23.5 17,708 15,156 16.8
Ontario 3,110 2,807 3,342 10.8 -6.9 40,670 43,663 -6.9
Bankruptcies 1,380 1,209 1,511 14.1 -8.7 18,970 21,457 -11.6
Proposals 1,730 1,598 1,831 8.3 -5.5 21,700 22,206 -2.3
Manitoba 160 146 125 9.6 28.0 1,954 1,858 5.2
Bankruptcies 85 90 79 -5.6 7.6 1,224 1,213 0.9
Proposals 75 56 46 33.9 63.0 730 645 13.2
Saskatchewan 163 135 145 20.7 12.4 1,943 1,743 11.5
Bankruptcies 78 65 87 20.0 -10.3 1,074 1,059 1.4
Proposals 85 70 58 21.4 46.6 869 684 27.0
Alberta 737 640 663 15.2 11.2 8,359 8,128 2.8
Bankruptcies 332 278 302 19.4 9.9 3,831 4,469 -14.3
Proposals 405 362 361 11.9 12.2 4,528 3,659 23.7
British Columbia 948 894 897 6.0 5.7 11,484 11,684 -1.7
Bankruptcies 514 510 524 0.8 -1.9 6,359 6,969 -8.8
Proposals 434 384 373 13.0 16.4 5,125 4,715 8.7
Northwest Territories 2 1 4 100.0 -50.0 48 49 -2.0
Bankruptcies 1 0 2 -- -50.0 25 29 -13.8
Proposals 1 1 2 0.0 -50.0 23 20 15.0
Yukon 4 3 3 33.3 33.3 38 33 15.2
Bankruptcies 4 1 1 300.0 300.0 21 25 -16.0
Proposals 0 2 2 -100.0 -100.0 17 8 112.5
Nunavut 0 1 1 -100.0 -100.0 4 8 -50.0
Bankruptcies 0 0 0 -- -- 2 5 -60.0
Proposals 0 1 1 -100.0 -100.0 2 3 -33.3
Canada 9,714 8,763 9,574 10.9 1.5 118,128 118,451 -0.3
Bankruptcies 4,938 4,478 5,206 10.3 -5.1 64,198 68,442 -6.2
Proposals 4,776 4,285 4,368 11.5 9.3 53,930 50,009 7.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Feb. 2015 Jan. 2015 Feb. 2014 Jan. 2015
to
Feb. 2015
Feb. 2014
to
Feb. 2015
02-28-2015 02-28-2014 % change
Newfoundland and Labrador 3 1 1 200.0 200.0 29 31 -6.5
Bankruptcies 2 1 1 100.0 100.0 26 21 23.8
Proposals 1 0 0 -- -- 3 10 -70.0
Prince Edward Island 1 1 0 0.0 -- 20 17 17.6
Bankruptcies 1 0 0 -- -- 14 12 16.7
Proposals 0 1 0 -100.0 -- 6 5 20.0
Nova Scotia 6 8 7 -25.0 -14.3 80 99 -19.2
Bankruptcies 2 5 3 -60.0 -33.3 53 73 -27.4
Proposals 4 3 4 33.3 0.0 27 26 3.8
New Brunswick 7 7 6 0.0 16.7 90 80 12.5
Bankruptcies 3 3 3 0.0 0.0 66 63 4.8
Proposals 4 4 3 0.0 33.3 24 17 41.2
Quebec 197 185 205 6.5 -3.9 2,349 2,186 7.5
Bankruptcies 144 130 149 10.8 -3.4 1,688 1,607 5.0
Proposals 53 55 56 -3.6 -5.4 661 579 14.2
Ontario 117 81 83 44.4 41.0 1,105 1,219 -9.4
Bankruptcies 87 64 55 35.9 58.2 858 943 -9.0
Proposals 30 17 28 76.5 7.1 247 276 -10.5
Manitoba 1 1 5 0.0 -80.0 50 64 -21.9
Bankruptcies 0 0 5 -- -100.0 39 53 -26.4
Proposals 1 1 0 0.0 -- 11 11 0.0
Saskatchewan 8 8 9 0.0 -11.1 113 124 -8.9
Bankruptcies 4 6 3 -33.3 33.3 72 76 -5.3
Proposals 4 2 6 100.0 -33.3 41 48 -14.6
Alberta 7 12 16 -41.7 -56.3 136 183 -25.7
Bankruptcies 4 9 11 -55.6 -63.6 100 131 -23.7
Proposals 3 3 5 0.0 -40.0 36 52 -30.8
British Columbia 16 16 24 0.0 -33.3 249 242 2.9
Bankruptcies 10 11 17 -9.1 -41.2 191 184 3.8
Proposals 6 5 7 20.0 -14.3 58 58 0.0
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 363 320 356 13.4 2.0 4,223 4,245 -0.5
Bankruptcies 257 229 247 12.2 4.0 3,108 3,163 -1.7
Proposals 106 91 109 16.5 -2.8 1,115 1,082 3.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Feb. 2015 Jan. 2015 Feb. 2014 Jan. 2015
to
Feb. 2015
Feb. 2014
to
Feb. 2015
02-28-2015 02-28-2014 % change
Agriculture, Forestry, Fishing and Hunting 8 7 5 14.3 60.0 89 128 -30.5
Bankruptcies 1 7 4 -85.7 -75.0 56 92 -39.1
Proposals 7 0 1 -- 600.0 33 36 -8.3
Mining and Oil and Gas Extraction 4 3 3 33.3 33.3 41 39 5.1
Bankruptcies 1 1 3 0.0 -66.7 17 20 -15.0
Proposals 3 2 0 50.0 -- 24 19 26.3
Utilities 1 0 0 -- -- 13 6 116.7
Bankruptcies 1 0 0 -- -- 9 3 200.0
Proposals 0 0 0 -- -- 4 3 33.3
Construction 70 52 69 34.6 1.4 707 744 -5.0
Bankruptcies 45 38 45 18.4 0.0 518 564 -8.2
Proposals 25 14 24 78.6 4.2 189 180 5.0
Manufacturing 44 16 34 175.0 29.4 380 419 -9.3
Bankruptcies 28 9 21 211.1 33.3 268 296 -9.5
Proposals 16 7 13 128.6 23.1 112 123 -8.9
Wholesale Trade 17 24 14 -29.2 21.4 232 225 3.1
Bankruptcies 10 13 8 -23.1 25.0 154 154 0.0
Proposals 7 11 6 -36.4 16.7 78 71 9.9
Retail Trade 50 45 40 11.1 25.0 508 520 -2.3
Bankruptcies 39 29 30 34.5 30.0 375 418 -10.3
Proposals 11 16 10 -31.3 10.0 133 102 30.4
Transportation and Warehousing 16 21 23 -23.8 -30.4 272 233 16.7
Bankruptcies 11 15 14 -26.7 -21.4 186 181 2.8
Proposals 5 6 9 -16.7 -44.4 86 52 65.4
Information and Cultural Industries 10 2 4 400.0 150.0 74 55 34.5
Bankruptcies 8 0 4 -- 100.0 51 44 15.9
Proposals 2 2 0 0.0 -- 23 11 109.1
Finance and Insurance 6 12 8 -50.0 -25.0 87 71 22.5
Bankruptcies 5 7 6 -28.6 -16.7 67 57 17.5
Proposals 1 5 2 -80.0 -50.0 20 14 42.9
Real Estate and Rental and Leasing 10 7 9 42.9 11.1 133 145 -8.3
Bankruptcies 5 6 8 -16.7 -37.5 98 111 -11.7
Proposals 5 1 1 400.0 400.0 35 34 2.9
Professional, Scientific and Technical Services 20 26 29 -23.1 -31.0 310 306 1.3
Bankruptcies 17 20 23 -15.0 -26.1 247 218 13.3
Proposals 3 6 6 -50.0 -50.0 63 88 -28.4
Management of Companies and Enterprises 2 4 2 -50.0 0.0 58 71 -18.3
Bankruptcies 1 3 2 -66.7 -50.0 44 49 -10.2
Proposals 1 1 0 0.0 -- 14 22 -36.4
Administrative and Support, Waste Management and Remediation Services 9 17 18 -47.1 -50.0 223 193 15.5
Bankruptcies 8 10 11 -20.0 -27.3 159 139 14.4
Proposals 1 7 7 -85.7 -85.7 64 54 18.5
Educational Services 6 3 5 100.0 20.0 54 36 50.0
Bankruptcies 6 3 5 100.0 20.0 46 29 58.6
Proposals 0 0 0 -- -- 8 7 14.3
Health Care and Social Assistance 3 4 11 -25.0 -72.7 94 70 34.3
Bankruptcies 2 4 6 -50.0 -66.7 72 52 38.5
Proposals 1 0 5 -- -80.0 22 18 22.2
Arts, Entertainment and Recreation 8 3 13 166.7 -38.5 81 80 1.3
Bankruptcies 7 3 11 133.3 -36.4 66 68 -2.9
Proposals 1 0 2 -- -50.0 15 12 25.0
Accommodation and Food Services 56 51 48 9.8 16.7 655 660 -0.8
Bankruptcies 48 43 31 11.6 54.8 506 481 5.2
Proposals 8 8 17 0.0 -52.9 149 179 -16.8
Other Services (except Public Administration) 23 23 21 0.0 9.5 211 244 -13.5
Bankruptcies 14 18 15 -22.2 -6.7 168 187 -10.2
Proposals 9 5 6 80.0 50.0 43 57 -24.6
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 363 320 356 13.4 2.0 4,223 4,245 -0.5
Bankruptcies 257 229 247 12.2 4.0 3,108 3,163 -1.7
Proposals 106 91 109 16.5 -2.8 1,115 1,082 3.0
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