Insolvency Statistics in Canada—April 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
April 2015 March 2015 April 2014 March 2015
to
April 2015
April 2014
to
April 2015
04-30-2015 04-30-2014 % change
Newfoundland and Labrador 180 143 146 25.9 23.3 1,620 1,649 -1.8
Bankruptcies 152 119 134 27.7 13.4 1,380 1,480 -6.8
Proposals 28 24 12 16.7 133.3 240 169 42.0
Prince Edward Island 83 78 55 6.4 50.9 775 683 13.5
Bankruptcies 50 46 43 8.7 16.3 526 471 11.7
Proposals 33 32 12 3.1 175.0 249 212 17.5
Nova Scotia 495 461 500 7.4 -1.0 5,388 4,924 9.4
Bankruptcies 383 306 359 25.2 6.7 3,847 3,425 12.3
Proposals 112 155 141 -27.7 -20.6 1,541 1,499 2.8
New Brunswick 394 382 430 3.1 -8.4 4,355 4,201 3.7
Bankruptcies 250 258 304 -3.1 -17.8 3,001 2,953 1.6
Proposals 144 124 126 16.1 14.3 1,354 1,248 8.5
Quebec 4,275 4,309 3,953 -0.8 8.1 45,128 42,696 5.7
Bankruptcies 2,475 2,379 2,431 4.0 1.8 26,139 26,607 -1.8
Proposals 1,800 1,930 1,522 -6.7 18.3 18,989 16,089 18.0
Ontario 3,841 4,061 3,871 -5.4 -0.8 41,851 44,286 -5.5
Bankruptcies 1,812 1,814 1,846 -0.1 -1.8 19,746 21,882 -9.8
Proposals 2,029 2,247 2,025 -9.7 0.2 22,105 22,404 -1.3
Manitoba 165 194 176 -14.9 -6.3 2,028 1,911 6.1
Bankruptcies 120 118 116 1.7 3.4 1,287 1,255 2.5
Proposals 45 76 60 -40.8 -25.0 741 656 13.0
Saskatchewan 199 212 196 -6.1 1.5 2,070 1,926 7.5
Bankruptcies 118 111 109 6.3 8.3 1,139 1,158 -1.6
Proposals 81 101 87 -19.8 -6.9 931 768 21.2
Alberta 781 858 790 -9.0 -1.1 8,585 8,276 3.7
Bankruptcies 376 394 376 -4.6 0.0 3,954 4,427 -10.7
Proposals 405 464 414 -12.7 -2.2 4,631 3,849 20.3
British Columbia 989 1,079 1,008 -8.3 -1.9 11,772 11,844 -0.6
Bankruptcies 522 490 625 6.5 -16.5 6,333 7,074 -10.5
Proposals 467 589 383 -20.7 21.9 5,439 4,770 14.0
Northwest Territories 2 5 2 -60.0 0.0 43 54 -20.4
Bankruptcies 1 3 0 -66.7 -- 24 32 -25.0
Proposals 1 2 2 -50.0 -50.0 19 22 -13.6
Yukon 1 4 6 -75.0 -83.3 37 36 2.8
Bankruptcies 0 2 3 -100.0 -100.0 19 26 -26.9
Proposals 1 2 3 -50.0 -66.7 18 10 80.0
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 11,405 11,786 11,133 -3.2 2.4 123,657 122,493 1.0
Bankruptcies 6,259 6,040 6,346 3.6 -1.4 67,398 70,794 -4.8
Proposals 5,146 5,746 4,787 -10.4 7.5 56,259 51,699 8.8
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
April 2015 March 2015 April 2014 March 2015
to
April 2015
April 2014
to
April 2015
04-30-2015 04-30-2014 % change
Newfoundland and Labrador 178 141 145 26.2 22.8 1,592 1,615 -1.4
Bankruptcies 150 118 133 27.1 12.8 1,355 1,457 -7.0
Proposals 28 23 12 21.7 133.3 237 158 50.0
Prince Edward Island 80 76 55 5.3 45.5 753 665 13.2
Bankruptcies 47 45 43 4.4 9.3 509 459 10.9
Proposals 33 31 12 6.5 175.0 244 206 18.4
Nova Scotia 486 456 493 6.6 -1.4 5,307 4,827 9.9
Bankruptcies 376 304 354 23.7 6.2 3,792 3,358 12.9
Proposals 110 152 139 -27.6 -20.9 1,515 1,469 3.1
New Brunswick 390 373 423 4.6 -7.8 4,274 4,107 4.1
Bankruptcies 248 252 300 -1.6 -17.3 2,943 2,881 2.2
Proposals 142 121 123 17.4 15.4 1,331 1,226 8.6
Quebec 4,066 4,069 3,716 -0.1 9.4 42,762 40,449 5.7
Bankruptcies 2,324 2,187 2,251 6.3 3.2 24,441 24,937 -2.0
Proposals 1,742 1,882 1,465 -7.4 18.9 18,321 15,512 18.1
Ontario 3,724 3,948 3,775 -5.7 -1.4 40,703 43,136 -5.6
Bankruptcies 1,724 1,726 1,777 -0.1 -3.0 18,846 21,010 -10.3
Proposals 2,000 2,222 1,998 -10.0 0.1 21,857 22,126 -1.2
Manitoba 162 190 167 -14.7 -3.0 1,987 1,841 7.9
Bankruptcies 117 115 107 1.7 9.3 1,257 1,196 5.1
Proposals 45 75 60 -40.0 -25.0 730 645 13.2
Saskatchewan 190 207 186 -8.2 2.2 1,972 1,799 9.6
Bankruptcies 111 108 103 2.8 7.8 1,078 1,080 -0.2
Proposals 79 99 83 -20.2 -4.8 894 719 24.3
Alberta 767 847 780 -9.4 -1.7 8,444 8,110 4.1
Bankruptcies 368 387 367 -4.9 0.3 3,854 4,308 -10.5
Proposals 399 460 413 -13.3 -3.4 4,590 3,802 20.7
British Columbia 974 1,065 991 -8.5 -1.7 11,542 11,597 -0.5
Bankruptcies 510 484 611 5.4 -16.5 6,156 6,893 -10.7
Proposals 464 581 380 -20.1 22.1 5,386 4,704 14.5
Northwest Territories 2 5 2 -60.0 0.0 43 54 -20.4
Bankruptcies 1 3 0 -66.7 -- 24 32 -25.0
Proposals 1 2 2 -50.0 -50.0 19 22 -13.6
Yukon 1 4 6 -75.0 -83.3 36 36 0.0
Bankruptcies 0 2 3 -100.0 -100.0 19 26 -26.9
Proposals 1 2 3 -50.0 -66.7 17 10 70.0
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 11,020 11,381 10,739 -3.2 2.6 119,419 118,243 1.0
Bankruptcies 5,976 5,731 6,049 4.3 -1.2 64,276 67,641 -5.0
Proposals 5,044 5,650 4,690 -10.7 7.5 55,143 50,602 9.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
April 2015 March 2015 April 2014 March 2015
to
April 2015
April 2014
to
April 2015
04-30-2015 04-30-2014 % change
Newfoundland and Labrador 2 2 1 0.0 100.0 28 34 -17.6
Bankruptcies 2 1 1 100.0 100.0 25 23 8.7
Proposals 0 1 0 -100.0 -- 3 11 -72.7
Prince Edward Island 3 2 0 50.0 -- 22 18 22.2
Bankruptcies 3 1 0 200.0 -- 17 12 41.7
Proposals 0 1 0 -100.0 -- 5 6 -16.7
Nova Scotia 9 5 7 80.0 28.6 81 97 -16.5
Bankruptcies 7 2 5 250.0 40.0 55 67 -17.9
Proposals 2 3 2 -33.3 0.0 26 30 -13.3
New Brunswick 4 9 7 -55.6 -42.9 81 94 -13.8
Bankruptcies 2 6 4 -66.7 -50.0 58 72 -19.4
Proposals 2 3 3 -33.3 -33.3 23 22 4.5
Quebec 209 240 237 -12.9 -11.8 2,366 2,247 5.3
Bankruptcies 151 192 180 -21.4 -16.1 1,698 1,670 1.7
Proposals 58 48 57 20.8 1.8 668 577 15.8
Ontario 117 113 96 3.5 21.9 1,148 1,150 -0.2
Bankruptcies 88 88 69 0.0 27.5 900 872 3.2
Proposals 29 25 27 16.0 7.4 248 278 -10.8
Manitoba 3 4 9 -25.0 -66.7 41 70 -41.4
Bankruptcies 3 3 9 0.0 -66.7 30 59 -49.2
Proposals 0 1 0 -100.0 -- 11 11 0.0
Saskatchewan 9 5 10 80.0 -10.0 98 127 -22.8
Bankruptcies 7 3 6 133.3 16.7 61 78 -21.8
Proposals 2 2 4 0.0 -50.0 37 49 -24.5
Alberta 14 11 10 27.3 40.0 141 166 -15.1
Bankruptcies 8 7 9 14.3 -11.1 100 119 -16.0
Proposals 6 4 1 50.0 500.0 41 47 -12.8
British Columbia 15 14 17 7.1 -11.8 230 247 -6.9
Bankruptcies 12 6 14 100.0 -14.3 177 181 -2.2
Proposals 3 8 3 -62.5 0.0 53 66 -19.7
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 385 405 394 -4.9 -2.3 4,238 4,250 -0.3
Bankruptcies 283 309 297 -8.4 -4.7 3,122 3,153 -1.0
Proposals 102 96 97 6.3 5.2 1,116 1,097 1.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
April 2015 March 2015 April 2014 March 2015
to
April 2015
April 2014
to
April 2015
04-30-2015 04-30-2014 % change
Agriculture, Forestry, Fishing and Hunting 10 10 5 0.0 100.0 93 128 -27.3
Bankruptcies 6 2 3 200.0 100.0 53 90 -41.1
Proposals 4 8 2 -50.0 100.0 40 38 5.3
Mining and Oil and Gas Extraction 7 2 6 250.0 16.7 36 43 -16.3
Bankruptcies 5 2 4 150.0 25.0 17 21 -19.0
Proposals 2 0 2 -- 0.0 19 22 -13.6
Utilities 2 0 0 -- -- 12 9 33.3
Bankruptcies 2 0 0 -- -- 8 6 33.3
Proposals 0 0 0 -- -- 4 3 33.3
Construction 82 73 69 12.3 18.8 739 741 -0.3
Bankruptcies 56 58 49 -3.4 14.3 539 555 -2.9
Proposals 26 15 20 73.3 30.0 200 186 7.5
Manufacturing 41 36 28 13.9 46.4 397 401 -1.0
Bankruptcies 27 25 21 8.0 28.6 277 284 -2.5
Proposals 14 11 7 27.3 100.0 120 117 2.6
Wholesale Trade 19 23 26 -17.4 -26.9 229 228 0.4
Bankruptcies 16 20 18 -20.0 -11.1 164 153 7.2
Proposals 3 3 8 0.0 -62.5 65 75 -13.3
Retail Trade 41 52 39 -21.2 5.1 514 507 1.4
Bankruptcies 35 36 30 -2.8 16.7 380 405 -6.2
Proposals 6 16 9 -62.5 -33.3 134 102 31.4
Transportation and Warehousing 21 28 27 -25.0 -22.2 264 248 6.5
Bankruptcies 14 24 20 -41.7 -30.0 180 191 -5.8
Proposals 7 4 7 75.0 0.0 84 57 47.4
Information and Cultural Industries 9 5 7 80.0 28.6 74 57 29.8
Bankruptcies 5 4 5 25.0 0.0 52 41 26.8
Proposals 4 1 2 300.0 100.0 22 16 37.5
Finance and Insurance 7 4 4 75.0 75.0 82 76 7.9
Bankruptcies 5 4 3 25.0 66.7 66 58 13.8
Proposals 2 0 1 -- 100.0 16 18 -11.1
Real Estate and Rental and Leasing 10 17 19 -41.2 -47.4 128 152 -15.8
Bankruptcies 7 16 14 -56.3 -50.0 98 114 -14.0
Proposals 3 1 5 200.0 -40.0 30 38 -21.1
Professional, Scientific and Technical Services 28 18 30 55.6 -6.7 297 292 1.7
Bankruptcies 24 14 27 71.4 -11.1 236 211 11.8
Proposals 4 4 3 0.0 33.3 61 81 -24.7
Management of Companies and Enterprises 8 7 6 14.3 33.3 65 67 -3.0
Bankruptcies 2 7 5 -71.4 -60.0 46 46 0.0
Proposals 6 0 1 -- 500.0 19 21 -9.5
Administrative and Support, Waste Management and Remediation Services 16 22 26 -27.3 -38.5 220 200 10.0
Bankruptcies 15 17 19 -11.8 -21.1 163 141 15.6
Proposals 1 5 7 -80.0 -85.7 57 59 -3.4
Educational Services 4 4 7 0.0 -42.9 49 43 14.0
Bankruptcies 3 3 7 0.0 -57.1 40 37 8.1
Proposals 1 1 0 0.0 -- 9 6 50.0
Health Care and Social Assistance 7 7 7 0.0 0.0 92 75 22.7
Bankruptcies 4 7 6 -42.9 -33.3 69 56 23.2
Proposals 3 0 1 -- 200.0 23 19 21.1
Arts, Entertainment and Recreation 6 13 7 -53.8 -14.3 83 81 2.5
Bankruptcies 4 7 6 -42.9 -33.3 61 69 -11.6
Proposals 2 6 1 -66.7 100.0 22 12 83.3
Accommodation and Food Services 52 62 56 -16.1 -7.1 661 649 1.8
Bankruptcies 41 45 36 -8.9 13.9 513 473 8.5
Proposals 11 17 20 -35.3 -45.0 148 176 -15.9
Other Services (except Public Administration) 15 22 24 -31.8 -37.5 203 252 -19.4
Bankruptcies 12 18 23 -33.3 -47.8 160 201 -20.4
Proposals 3 4 1 -25.0 200.0 43 51 -15.7
Public Administration 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 1 -- -100.0 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Total 385 405 394 -4.9 -2.3 4,238 4,250 -0.3
Bankruptcies 283 309 297 -8.4 -4.7 3,122 3,153 -1.0
Proposals 102 96 97 6.3 5.2 1,116 1,097 1.7
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