Insolvency Statistics in Canada—March 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
March 2015 Feb. 2015 March 2014 Feb. 2015
to
March 2015
March 2014
to
March 2015
03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 143 147 149 -2.7 -4.0 1,586 1,660 -4.5
Bankruptcies 119 123 130 -3.3 -8.5 1,362 1,486 -8.3
Proposals 24 24 19 0.0 26.3 224 174 28.7
Prince Edward Island 78 62 63 25.8 23.8 747 681 9.7
Bankruptcies 46 42 40 9.5 15.0 519 469 10.7
Proposals 32 20 23 60.0 39.1 228 212 7.5
Nova Scotia 461 398 402 15.8 14.7 5,393 4,863 10.9
Bankruptcies 306 255 282 20.0 8.5 3,823 3,400 12.4
Proposals 155 143 120 8.4 29.2 1,570 1,463 7.3
New Brunswick 382 313 317 22.0 20.5 4,391 4,091 7.3
Bankruptcies 258 206 214 25.2 20.6 3,055 2,907 5.1
Proposals 124 107 103 15.9 20.4 1,336 1,184 12.8
Quebec 4,309 3,884 3,715 10.9 16.0 44,806 42,648 5.1
Bankruptcies 2,379 2,070 2,127 14.9 11.8 26,095 26,693 -2.2
Proposals 1,930 1,814 1,588 6.4 21.5 18,711 15,955 17.3
Ontario 4,061 3,227 3,955 25.8 2.7 41,881 44,811 -6.5
Bankruptcies 1,814 1,467 1,862 23.7 -2.6 19,780 22,284 -11.2
Proposals 2,247 1,760 2,093 27.7 7.4 22,101 22,527 -1.9
Manitoba 194 161 159 20.5 22.0 2,039 1,916 6.4
Bankruptcies 118 85 98 38.8 20.4 1,283 1,254 2.3
Proposals 76 76 61 0.0 24.6 756 662 14.2
Saskatchewan 212 171 201 24.0 5.5 2,067 1,906 8.4
Bankruptcies 111 82 127 35.4 -12.6 1,130 1,159 -2.5
Proposals 101 89 74 13.5 36.5 937 747 25.4
Alberta 858 744 759 15.3 13.0 8,594 8,296 3.6
Bankruptcies 394 336 371 17.3 6.2 3,954 4,530 -12.7
Proposals 464 408 388 13.7 19.6 4,640 3,766 23.2
British Columbia 1,079 964 1,021 11.9 5.7 11,791 11,949 -1.3
Bankruptcies 490 524 604 -6.5 -18.9 6,436 7,138 -9.8
Proposals 589 440 417 33.9 41.2 5,355 4,811 11.3
Northwest Territories 5 2 10 150.0 -50.0 43 56 -23.2
Bankruptcies 3 1 5 200.0 -40.0 23 33 -30.3
Proposals 2 1 5 100.0 -60.0 20 23 -13.0
Yukon 4 4 1 0.0 300.0 42 33 27.3
Bankruptcies 2 4 1 -50.0 100.0 22 25 -12.0
Proposals 2 0 0 -- -- 20 8 150.0
Nunavut 0 0 0 -- -- 5 7 -28.6
Bankruptcies 0 0 0 -- -- 3 4 -25.0
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 11,786 10,077 10,752 17.0 9.6 123,385 122,917 0.4
Bankruptcies 6,040 5,195 5,861 16.3 3.1 67,485 71,382 -5.5
Proposals 5,746 4,882 4,891 17.7 17.5 55,900 51,535 8.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March 2015 Feb. 2015 March 2014 Feb. 2015
to
March 2015
March 2014
to
March 2015
03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 141 144 145 -2.1 -2.8 1,559 1,625 -4.1
Bankruptcies 118 121 127 -2.5 -7.1 1,338 1,462 -8.5
Proposals 23 23 18 0.0 27.8 221 163 35.6
Prince Edward Island 76 61 60 24.6 26.7 728 661 10.1
Bankruptcies 45 41 39 9.8 15.4 505 456 10.7
Proposals 31 20 21 55.0 47.6 223 205 8.8
Nova Scotia 456 392 396 16.3 15.2 5,314 4,764 11.5
Bankruptcies 304 253 280 20.2 8.6 3,770 3,331 13.2
Proposals 152 139 116 9.4 31.0 1,544 1,433 7.7
New Brunswick 373 306 302 21.9 23.5 4,307 3,998 7.7
Bankruptcies 252 203 202 24.1 24.8 2,995 2,834 5.7
Proposals 121 103 100 17.5 21.0 1,312 1,164 12.7
Quebec 4,069 3,687 3,520 10.4 15.6 42,412 40,448 4.9
Bankruptcies 2,187 1,926 1,974 13.6 10.8 24,368 25,070 -2.8
Proposals 1,882 1,761 1,546 6.9 21.7 18,044 15,378 17.3
Ontario 3,948 3,110 3,864 26.9 2.2 40,754 43,619 -6.6
Bankruptcies 1,726 1,380 1,797 25.1 -4.0 18,899 21,369 -11.6
Proposals 2,222 1,730 2,067 28.4 7.5 21,855 22,250 -1.8
Manitoba 190 160 152 18.8 25.0 1,992 1,848 7.8
Bankruptcies 115 85 92 35.3 25.0 1,247 1,198 4.1
Proposals 75 75 60 0.0 25.0 745 650 14.6
Saskatchewan 207 163 182 27.0 13.7 1,968 1,779 10.6
Bankruptcies 108 78 112 38.5 -3.6 1,070 1,081 -1.0
Proposals 99 85 70 16.5 41.4 898 698 28.7
Alberta 847 737 749 14.9 13.1 8,457 8,123 4.1
Bankruptcies 387 332 365 16.6 6.0 3,853 4,405 -12.5
Proposals 460 405 384 13.6 19.8 4,604 3,718 23.8
British Columbia 1,065 948 990 12.3 7.6 11,559 11,700 -1.2
Bankruptcies 484 514 586 -5.8 -17.4 6,257 6,958 -10.1
Proposals 581 434 404 33.9 43.8 5,302 4,742 11.8
Northwest Territories 5 2 10 150.0 -50.0 43 56 -23.2
Bankruptcies 3 1 5 200.0 -40.0 23 33 -30.3
Proposals 2 1 5 100.0 -60.0 20 23 -13.0
Yukon 4 4 1 0.0 300.0 41 33 24.2
Bankruptcies 2 4 1 -50.0 100.0 22 25 -12.0
Proposals 2 0 0 -- -- 19 8 137.5
Nunavut 0 0 0 -- -- 4 7 -42.9
Bankruptcies 0 0 0 -- -- 2 4 -50.0
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 11,381 9,714 10,371 17.2 9.7 119,138 118,661 0.4
Bankruptcies 5,731 4,938 5,580 16.1 2.7 64,349 68,226 -5.7
Proposals 5,650 4,776 4,791 18.3 17.9 54,789 50,435 8.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March 2015 Feb. 2015 March 2014 Feb. 2015
to
March 2015
March 2014
to
March 2015
03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 2 3 4 -33.3 -50.0 27 35 -22.9
Bankruptcies 1 2 3 -50.0 -66.7 24 24 0.0
Proposals 1 1 1 0.0 0.0 3 11 -72.7
Prince Edward Island 2 1 3 100.0 -33.3 19 20 -5.0
Bankruptcies 1 1 1 0.0 0.0 14 13 7.7
Proposals 1 0 2 -- -50.0 5 7 -28.6
Nova Scotia 5 6 6 -16.7 -16.7 79 99 -20.2
Bankruptcies 2 2 2 0.0 0.0 53 69 -23.2
Proposals 3 4 4 -25.0 -25.0 26 30 -13.3
New Brunswick 9 7 15 28.6 -40.0 84 93 -9.7
Bankruptcies 6 3 12 100.0 -50.0 60 73 -17.8
Proposals 3 4 3 -25.0 0.0 24 20 20.0
Quebec 240 197 195 21.8 23.1 2,394 2,200 8.8
Bankruptcies 192 144 153 33.3 25.5 1,727 1,623 6.4
Proposals 48 53 42 -9.4 14.3 667 577 15.6
Ontario 113 117 91 -3.4 24.2 1,127 1,192 -5.5
Bankruptcies 88 87 65 1.1 35.4 881 915 -3.7
Proposals 25 30 26 -16.7 -3.8 246 277 -11.2
Manitoba 4 1 7 300.0 -42.9 47 68 -30.9
Bankruptcies 3 0 6 -- -50.0 36 56 -35.7
Proposals 1 1 1 0.0 0.0 11 12 -8.3
Saskatchewan 5 8 19 -37.5 -73.7 99 127 -22.0
Bankruptcies 3 4 15 -25.0 -80.0 60 78 -23.1
Proposals 2 4 4 -50.0 -50.0 39 49 -20.4
Alberta 11 7 10 57.1 10.0 137 173 -20.8
Bankruptcies 7 4 6 75.0 16.7 101 125 -19.2
Proposals 4 3 4 33.3 0.0 36 48 -25.0
British Columbia 14 16 31 -12.5 -54.8 232 249 -6.8
Bankruptcies 6 10 18 -40.0 -66.7 179 180 -0.6
Proposals 8 6 13 33.3 -38.5 53 69 -23.2
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 405 363 381 11.6 6.3 4,247 4,256 -0.2
Bankruptcies 309 257 281 20.2 10.0 3,136 3,156 -0.6
Proposals 96 106 100 -9.4 -4.0 1,111 1,100 1.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
March 2015 Feb. 2015 March 2014 Feb. 2015
to
March 2015
March 2014
to
March 2015
03-31-2015 03-31-2014 % Change
Agriculture, Forestry, Fishing and Hunting 10 8 11 25.0 -9.1 88 128 -31.3
Bankruptcies 2 1 8 100.0 -75.0 50 91 -45.1
Proposals 8 7 3 14.3 166.7 38 37 2.7
Mining and Oil and Gas Extraction 2 4 8 -50.0 -75.0 35 42 -16.7
Bankruptcies 2 1 3 100.0 -33.3 16 21 -23.8
Proposals 0 3 5 -100.0 -100.0 19 21 -9.5
Utilities 0 1 3 -100.0 -100.0 10 9 11.1
Bankruptcies 0 1 3 -100.0 -100.0 6 6 0.0
Proposals 0 0 0 -- -- 4 3 33.3
Construction 73 70 54 4.3 35.2 726 732 -0.8
Bankruptcies 58 45 44 28.9 31.8 532 551 -3.4
Proposals 15 25 10 -40.0 50.0 194 181 7.2
Manufacturing 36 44 32 -18.2 12.5 384 415 -7.5
Bankruptcies 25 28 22 -10.7 13.6 271 294 -7.8
Proposals 11 16 10 -31.3 10.0 113 121 -6.6
Wholesale Trade 23 17 19 35.3 21.1 236 230 2.6
Bankruptcies 20 10 8 100.0 150.0 166 150 10.7
Proposals 3 7 11 -57.1 -72.7 70 80 -12.5
Retail Trade 52 50 48 4.0 8.3 512 516 -0.8
Bankruptcies 36 39 36 -7.7 0.0 375 413 -9.2
Proposals 16 11 12 45.5 33.3 137 103 33.0
Transportation and Warehousing 28 16 30 75.0 -6.7 270 245 10.2
Bankruptcies 24 11 24 118.2 0.0 186 191 -2.6
Proposals 4 5 6 -20.0 -33.3 84 54 55.6
Information and Cultural Industries 5 10 7 -50.0 -28.6 72 57 26.3
Bankruptcies 4 8 3 -50.0 33.3 52 42 23.8
Proposals 1 2 4 -50.0 -75.0 20 15 33.3
Finance and Insurance 4 6 12 -33.3 -66.7 79 78 1.3
Bankruptcies 4 5 7 -20.0 -42.9 64 60 6.7
Proposals 0 1 5 -100.0 -100.0 15 18 -16.7
Real Estate and Rental and Leasing 17 10 13 70.0 30.8 137 140 -2.1
Bankruptcies 16 5 9 220.0 77.8 105 104 1.0
Proposals 1 5 4 -80.0 -75.0 32 36 -11.1
Professional, Scientific and Technical Services 18 20 29 -10.0 -37.9 299 299 0.0
Bankruptcies 14 17 22 -17.6 -36.4 239 211 13.3
Proposals 4 3 7 33.3 -42.9 60 88 -31.8
Management of Companies and Enterprises 7 2 2 250.0 250.0 63 66 -4.5
Bankruptcies 7 1 2 600.0 250.0 49 45 8.9
Proposals 0 1 0 -100.0 -- 14 21 -33.3
Administrative and Support, Waste Management and Remediation Services 22 9 15 144.4 46.7 230 190 21.1
Bankruptcies 17 8 9 112.5 88.9 167 135 23.7
Proposals 5 1 6 400.0 -16.7 63 55 14.5
Educational Services 4 6 6 -33.3 -33.3 52 40 30.0
Bankruptcies 3 6 5 -50.0 -40.0 44 33 33.3
Proposals 1 0 1 -- 0.0 8 7 14.3
Health Care and Social Assistance 7 3 9 133.3 -22.2 92 76 21.1
Bankruptcies 7 2 8 250.0 -12.5 71 58 22.4
Proposals 0 1 1 -100.0 -100.0 21 18 16.7
Arts, Entertainment and Recreation 13 8 10 62.5 30.0 84 84 0.0
Bankruptcies 7 7 10 0.0 -30.0 63 72 -12.5
Proposals 6 1 0 500.0 -- 21 12 75.0
Accommodation and Food Services 62 56 52 10.7 19.2 665 655 1.5
Bankruptcies 45 48 43 -6.3 4.7 508 484 5.0
Proposals 17 8 9 112.5 88.9 157 171 -8.2
Other Services (except Public Administration) 22 23 21 -4.3 4.8 212 254 -16.5
Bankruptcies 18 14 15 28.6 20.0 171 195 -12.3
Proposals 4 9 6 -55.6 -33.3 41 59 -30.5
Public Administration 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 405 363 381 11.6 6.3 4,247 4,256 -0.2
Bankruptcies 309 257 281 20.2 10.0 3,136 3,156 -0.6
Proposals 96 106 100 -9.4 -4.0 1,111 1,100 1.0
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