Insolvency Statistics in Canada—May 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
May 2015 April 2015 May 2014 April 2015
to
May 2015
May 2014
to
May 2015
05-31-2015 05-31-2014 % change
Newfoundland and Labrador 153 180 153 -15.0 0.0 1,620 1,618 0.1
Bankruptcies 132 152 136 -13.2 -2.9 1,376 1,453 -5.3
Proposals 21 28 17 -25.0 23.5 244 165 47.9
Prince Edward Island 71 83 67 -14.5 6.0 779 701 11.1
Bankruptcies 51 50 48 2.0 6.3 529 485 9.1
Proposals 20 33 19 -39.4 5.3 250 216 15.7
Nova Scotia 424 495 524 -14.3 -19.1 5,288 5,003 5.7
Bankruptcies 306 383 394 -20.1 -22.3 3,759 3,494 7.6
Proposals 118 112 130 5.4 -9.2 1,529 1,509 1.3
New Brunswick 435 394 416 10.4 4.6 4,374 4,245 3.0
Bankruptcies 270 250 298 8.0 -9.4 2,973 2,974 0.0
Proposals 165 144 118 14.6 39.8 1,401 1,271 10.2
Quebec 3,849 4,275 3,921 -10.0 -1.8 45,056 42,673 5.6
Bankruptcies 2,281 2,475 2,393 -7.8 -4.7 26,027 26,463 -1.6
Proposals 1,568 1,800 1,528 -12.9 2.6 19,029 16,210 17.4
Ontario 3,468 3,841 3,806 -9.7 -8.9 41,513 43,821 -5.3
Bankruptcies 1,648 1,812 1,883 -9.1 -12.5 19,511 21,602 -9.7
Proposals 1,820 2,029 1,923 -10.3 -5.4 22,002 22,219 -1.0
Manitoba 182 165 172 10.3 5.8 2,038 1,903 7.1
Bankruptcies 122 120 105 1.7 16.2 1,304 1,242 5.0
Proposals 60 45 67 33.3 -10.4 734 661 11.0
Saskatchewan 189 199 179 -5.0 5.6 2,080 1,936 7.4
Bankruptcies 102 118 112 -13.6 -8.9 1,129 1,172 -3.7
Proposals 87 81 67 7.4 29.9 951 764 24.5
Alberta 852 781 785 9.1 8.5 8,652 8,271 4.6
Bankruptcies 348 376 382 -7.4 -8.9 3,920 4,364 -10.2
Proposals 504 405 403 24.4 25.1 4,732 3,907 21.1
British Columbia 978 989 1,118 -1.1 -12.5 11,632 11,794 -1.4
Bankruptcies 487 522 655 -6.7 -25.6 6,165 7,029 -12.3
Proposals 491 467 463 5.1 6.0 5,467 4,765 14.7
Northwest Territories 2 2 4 0.0 -50.0 41 56 -26.8
Bankruptcies 1 1 3 0.0 -66.7 22 34 -35.3
Proposals 1 1 1 0.0 0.0 19 22 -13.6
Yukon 2 1 4 100.0 -50.0 35 37 -5.4
Bankruptcies 0 0 2 -- -100.0 17 26 -34.6
Proposals 2 1 2 100.0 0.0 18 11 63.6
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 10,605 11,405 11,149 -7.0 -4.9 123,113 122,065 0.9
Bankruptcies 5,748 6,259 6,411 -8.2 -10.3 66,735 70,342 -5.1
Proposals 4,857 5,146 4,738 -5.6 2.5 56,378 51,723 9.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2015 April 2015 May 2014 April 2015
to
May 2015
May 2014
to
May 2015
05-31-2015 05-31-2014 % change
Newfoundland and Labrador 152 178 150 -14.6 1.3 1,594 1,586 0.5
Bankruptcies 131 150 134 -12.7 -2.2 1,352 1,432 -5.6
Proposals 21 28 16 -25.0 31.3 242 154 57.1
Prince Edward Island 69 80 66 -13.8 4.5 756 682 10.9
Bankruptcies 49 47 47 4.3 4.3 511 472 8.3
Proposals 20 33 19 -39.4 5.3 245 210 16.7
Nova Scotia 414 486 512 -14.8 -19.1 5,209 4,902 6.3
Bankruptcies 297 376 384 -21.0 -22.7 3,705 3,423 8.2
Proposals 117 110 128 6.4 -8.6 1,504 1,479 1.7
New Brunswick 427 390 410 9.5 4.1 4,291 4,151 3.4
Bankruptcies 263 248 293 6.0 -10.2 2,913 2,902 0.4
Proposals 164 142 117 15.5 40.2 1,378 1,249 10.3
Quebec 3,685 4,066 3,723 -9.4 -1.0 42,724 40,437 5.7
Bankruptcies 2,158 2,324 2,256 -7.1 -4.3 24,343 24,809 -1.9
Proposals 1,527 1,742 1,467 -12.3 4.1 18,381 15,628 17.6
Ontario 3,374 3,724 3,713 -9.4 -9.1 40,364 42,683 -5.4
Bankruptcies 1,575 1,724 1,808 -8.6 -12.9 18,613 20,733 -10.2
Proposals 1,799 2,000 1,905 -10.1 -5.6 21,751 21,950 -0.9
Manitoba 180 162 167 11.1 7.8 2,000 1,830 9.3
Bankruptcies 122 117 102 4.3 19.6 1,277 1,181 8.1
Proposals 58 45 65 28.9 -10.8 723 649 11.4
Saskatchewan 184 190 169 -3.2 8.9 1,987 1,809 9.8
Bankruptcies 99 111 105 -10.8 -5.7 1,072 1,094 -2.0
Proposals 85 79 64 7.6 32.8 915 715 28.0
Alberta 840 767 768 9.5 9.4 8,516 8,105 5.1
Bankruptcies 338 368 369 -8.2 -8.4 3,823 4,243 -9.9
Proposals 502 399 399 25.8 25.8 4,693 3,862 21.5
British Columbia 966 974 1,092 -0.8 -11.5 11,416 11,549 -1.2
Bankruptcies 480 510 634 -5.9 -24.3 6,002 6,849 -12.4
Proposals 486 464 458 4.7 6.1 5,414 4,700 15.2
Northwest Territories 2 2 4 0.0 -50.0 41 56 -26.8
Bankruptcies 1 1 3 0.0 -66.7 22 34 -35.3
Proposals 1 1 1 0.0 0.0 19 22 -13.6
Yukon 2 1 4 100.0 -50.0 34 37 -8.1
Bankruptcies 0 0 2 -- -100.0 17 26 -34.6
Proposals 2 1 2 100.0 0.0 17 11 54.5
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 10,295 11,020 10,778 -6.6 -4.5 118,936 117,834 0.9
Bankruptcies 5,513 5,976 6,137 -7.7 -10.2 63,652 67,202 -5.3
Proposals 4,782 5,044 4,641 -5.2 3.0 55,284 50,632 9.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2015 April 2015 May 2014 April 2015
to
May 2015
May 2014
to
May 2015
05-31-2015 05-31-2014 % change
Newfoundland and Labrador 1 2 3 -50.0 -66.7 26 32 -18.8
Bankruptcies 1 2 2 -50.0 -50.0 24 21 14.3
Proposals 0 0 1 -- -100.0 2 11 -81.8
Prince Edward Island 2 3 1 -33.3 100.0 23 19 21.1
Bankruptcies 2 3 1 -33.3 100.0 18 13 38.5
Proposals 0 0 0 -- -- 5 6 -16.7
Nova Scotia 10 9 12 11.1 -16.7 79 101 -21.8
Bankruptcies 9 7 10 28.6 -10.0 54 71 -23.9
Proposals 1 2 2 -50.0 -50.0 25 30 -16.7
New Brunswick 8 4 6 100.0 33.3 83 94 -11.7
Bankruptcies 7 2 5 250.0 40.0 60 72 -16.7
Proposals 1 2 1 -50.0 0.0 23 22 4.5
Quebec 164 209 198 -21.5 -17.2 2,332 2,236 4.3
Bankruptcies 123 151 137 -18.5 -10.2 1,684 1,654 1.8
Proposals 41 58 61 -29.3 -32.8 648 582 11.3
Ontario 94 117 93 -19.7 1.1 1,149 1,138 1.0
Bankruptcies 73 88 75 -17.0 -2.7 898 869 3.3
Proposals 21 29 18 -27.6 16.7 251 269 -6.7
Manitoba 2 3 5 -33.3 -60.0 38 73 -47.9
Bankruptcies 0 3 3 -100.0 -100.0 27 61 -55.7
Proposals 2 0 2 -- 0.0 11 12 -8.3
Saskatchewan 5 9 10 -44.4 -50.0 93 127 -26.8
Bankruptcies 3 7 7 -57.1 -57.1 57 78 -26.9
Proposals 2 2 3 0.0 -33.3 36 49 -26.5
Alberta 12 14 17 -14.3 -29.4 136 166 -18.1
Bankruptcies 10 8 13 25.0 -23.1 97 121 -19.8
Proposals 2 6 4 -66.7 -50.0 39 45 -13.3
British Columbia 12 15 26 -20.0 -53.8 216 245 -11.8
Bankruptcies 7 12 21 -41.7 -66.7 163 180 -9.4
Proposals 5 3 5 66.7 0.0 53 65 -18.5
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 310 385 371 -19.5 -16.4 4,177 4,231 -1.3
Bankruptcies 235 283 274 -17.0 -14.2 3,083 3,140 -1.8
Proposals 75 102 97 -26.5 -22.7 1,094 1,091 0.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
May 2015 April 2015 May 2014 April 2015
to
May 2015
May 2014
to
May 2015
05-31-2015 05-31-2014 % change
Agriculture, Forestry, Fishing and Hunting 6 10 6 -40.0 0.0 93 124 -25.0
Bankruptcies 2 6 6 -66.7 -66.7 49 89 -44.9
Proposals 4 4 0 0.0 -- 44 35 25.7
Mining and Oil and Gas Extraction 2 7 1 -71.4 100.0 37 39 -5.1
Bankruptcies 2 5 1 -60.0 100.0 18 19 -5.3
Proposals 0 2 0 -100.0 -- 19 20 -5.0
Utilities 1 2 1 -50.0 0.0 12 10 20.0
Bankruptcies 1 2 0 -50.0 -- 9 6 50.0
Proposals 0 0 1 -- -100.0 3 4 -25.0
Construction 58 82 76 -29.3 -23.7 721 753 -4.2
Bankruptcies 38 56 56 -32.1 -32.1 521 561 -7.1
Proposals 20 26 20 -23.1 0.0 200 192 4.2
Manufacturing 30 41 38 -26.8 -21.1 389 403 -3.5
Bankruptcies 23 27 27 -14.8 -14.8 273 287 -4.9
Proposals 7 14 11 -50.0 -36.4 116 116 0.0
Wholesale Trade 17 19 22 -10.5 -22.7 224 230 -2.6
Bankruptcies 14 16 18 -12.5 -22.2 160 157 1.9
Proposals 3 3 4 0.0 -25.0 64 73 -12.3
Retail Trade 29 41 39 -29.3 -25.6 504 503 0.2
Bankruptcies 25 35 29 -28.6 -13.8 376 402 -6.5
Proposals 4 6 10 -33.3 -60.0 128 101 26.7
Transportation and Warehousing 16 21 9 -23.8 77.8 271 236 14.8
Bankruptcies 9 14 7 -35.7 28.6 182 183 -0.5
Proposals 7 7 2 0.0 250.0 89 53 67.9
Information and Cultural Industries 5 9 5 -44.4 0.0 74 53 39.6
Bankruptcies 2 5 4 -60.0 -50.0 50 36 38.9
Proposals 3 4 1 -25.0 200.0 24 17 41.2
Finance and Insurance 7 7 2 0.0 250.0 87 68 27.9
Bankruptcies 2 5 2 -60.0 0.0 66 51 29.4
Proposals 5 2 0 150.0 -- 21 17 23.5
Real Estate and Rental and Leasing 9 10 12 -10.0 -25.0 125 152 -17.8
Bankruptcies 7 7 9 0.0 -22.2 96 113 -15.0
Proposals 2 3 3 -33.3 -33.3 29 39 -25.6
Professional, Scientific and Technical Services 27 28 33 -3.6 -18.2 291 298 -2.3
Bankruptcies 23 24 22 -4.2 4.5 237 213 11.3
Proposals 4 4 11 0.0 -63.6 54 85 -36.5
Management of Companies and Enterprises 2 8 8 -75.0 -75.0 59 68 -13.2
Bankruptcies 2 2 5 0.0 -60.0 43 48 -10.4
Proposals 0 6 3 -100.0 -100.0 16 20 -20.0
Administrative and Support, Waste Management and Remediation Services 13 16 17 -18.8 -23.5 216 198 9.1
Bankruptcies 11 15 11 -26.7 0.0 163 138 18.1
Proposals 2 1 6 100.0 -66.7 53 60 -11.7
Educational Services 2 4 8 -50.0 -75.0 43 50 -14.0
Bankruptcies 2 3 7 -33.3 -71.4 35 44 -20.5
Proposals 0 1 1 -100.0 -100.0 8 6 33.3
Health Care and Social Assistance 5 7 10 -28.6 -50.0 87 80 8.8
Bankruptcies 5 4 8 25.0 -37.5 66 60 10.0
Proposals 0 3 2 -100.0 -100.0 21 20 5.0
Arts, Entertainment and Recreation 7 6 13 16.7 -46.2 77 88 -12.5
Bankruptcies 7 4 10 75.0 -30.0 58 74 -21.6
Proposals 0 2 3 -100.0 -100.0 19 14 35.7
Accommodation and Food Services 53 52 52 1.9 1.9 662 627 5.6
Bankruptcies 45 41 37 9.8 21.6 521 460 13.3
Proposals 8 11 15 -27.3 -46.7 141 167 -15.6
Other Services (except Public Administration) 20 15 19 33.3 5.3 204 250 -18.4
Bankruptcies 14 12 15 16.7 -6.7 159 198 -19.7
Proposals 6 3 4 100.0 50.0 45 52 -13.5
Public Administration 1 0 0 -- -- 1 1 0.0
Bankruptcies 1 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Total 310 385 371 -19.5 -16.4 4,177 4,231 -1.3
Bankruptcies 235 283 274 -17.0 -14.2 3,083 3,140 -1.8
Proposals 75 102 97 -26.5 -22.7 1,094 1,091 0.3
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