Insolvency Statistics in Canada—June 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
June 2015 May 2015 June 2014 May 2015
to
June 2015
June 2014
to
June 2015
06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 179 153 134 17.0 33.6 1,665 1,612 3.3
Bankruptcies 145 132 121 9.8 19.8 1,400 1,438 -2.6
Proposals 34 21 13 61.9 161.5 265 174 52.3
Prince Edward Island 68 71 58 -4.2 17.2 789 713 10.7
Bankruptcies 38 51 44 -25.5 -13.6 523 493 6.1
Proposals 30 20 14 50.0 114.3 266 220 20.9
Nova Scotia 503 424 445 18.6 13.0 5,346 5,029 6.3
Bankruptcies 349 306 303 14.1 15.2 3,805 3,524 8.0
Proposals 154 118 142 30.5 8.5 1,541 1,505 2.4
New Brunswick 394 435 333 -9.4 18.3 4,435 4,231 4.8
Bankruptcies 263 270 231 -2.6 13.9 3,005 2,964 1.4
Proposals 131 165 102 -20.6 28.4 1,430 1,267 12.9
Quebec 3,775 3,849 3,321 -1.9 13.7 45,510 42,736 6.5
Bankruptcies 2,233 2,281 2,038 -2.1 9.6 26,222 26,389 -0.6
Proposals 1,542 1,568 1,283 -1.7 20.2 19,288 16,347 18.0
Ontario 3,559 3,468 3,451 2.6 3.1 41,621 43,612 -4.6
Bankruptcies 1,657 1,648 1,591 0.5 4.1 19,577 21,325 -8.2
Proposals 1,902 1,820 1,860 4.5 2.3 22,044 22,287 -1.1
Manitoba 187 182 171 2.7 9.4 2,054 1,921 6.9
Bankruptcies 125 122 99 2.5 26.3 1,330 1,234 7.8
Proposals 62 60 72 3.3 -13.9 724 687 5.4
Saskatchewan 189 189 158 0.0 19.6 2,111 1,960 7.7
Bankruptcies 96 102 88 -5.9 9.1 1,137 1,187 -4.2
Proposals 93 87 70 6.9 32.9 974 773 26.0
Alberta 877 852 712 2.9 23.2 8,817 8,302 6.2
Bankruptcies 409 348 332 17.5 23.2 3,997 4,312 -7.3
Proposals 468 504 380 -7.1 23.2 4,820 3,990 20.8
British Columbia 1,079 978 1,031 10.3 4.7 11,680 11,811 -1.1
Bankruptcies 536 487 593 10.1 -9.6 6,108 7,027 -13.1
Proposals 543 491 438 10.6 24.0 5,572 4,784 16.5
Northwest Territories 6 2 5 200.0 20.0 42 56 -25.0
Bankruptcies 4 1 3 300.0 33.3 23 33 -30.3
Proposals 2 1 2 100.0 0.0 19 23 -17.4
Yukon 3 2 1 50.0 200.0 37 35 5.7
Bankruptcies 1 0 1 -- 0.0 17 24 -29.2
Proposals 2 2 0 0.0 -- 20 11 81.8
Nunavut 1 0 0 -- -- 6 6 0.0
Bankruptcies 1 0 0 -- -- 4 4 0.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,820 10,605 9,820 2.0 10.2 124,113 122,024 1.7
Bankruptcies 5,857 5,748 5,444 1.9 7.6 67,148 69,954 -4.0
Proposals 4,963 4,857 4,376 2.2 13.4 56,965 52,070 9.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2015 May 2015 June 2014 May 2015
to
June 2015
June 2014
to
June 2015
06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 176 152 132 15.8 33.3 1,638 1,579 3.7
Bankruptcies 142 131 119 8.4 19.3 1,375 1,416 -2.9
Proposals 34 21 13 61.9 161.5 263 163 61.3
Prince Edward Island 67 69 53 -2.9 26.4 770 690 11.6
Bankruptcies 38 49 40 -22.4 -5.0 509 476 6.9
Proposals 29 20 13 45.0 123.1 261 214 22.0
Nova Scotia 486 414 441 17.4 10.2 5,254 4,935 6.5
Bankruptcies 339 297 301 14.1 12.6 3,743 3,459 8.2
Proposals 147 117 140 25.6 5.0 1,511 1,476 2.4
New Brunswick 392 427 325 -8.2 20.6 4,358 4,139 5.3
Bankruptcies 262 263 224 -0.4 17.0 2,951 2,892 2.0
Proposals 130 164 101 -20.7 28.7 1,407 1,247 12.8
Quebec 3,585 3,685 3,155 -2.7 13.6 43,154 40,499 6.6
Bankruptcies 2,092 2,158 1,918 -3.1 9.1 24,517 24,727 -0.8
Proposals 1,493 1,527 1,237 -2.2 20.7 18,637 15,772 18.2
Ontario 3,470 3,374 3,369 2.8 3.0 40,465 42,488 -4.8
Bankruptcies 1,590 1,575 1,532 1.0 3.8 18,671 20,462 -8.8
Proposals 1,880 1,799 1,837 4.5 2.3 21,794 22,026 -1.1
Manitoba 184 180 166 2.2 10.8 2,018 1,846 9.3
Bankruptcies 122 122 94 0.0 29.8 1,305 1,171 11.4
Proposals 62 58 72 6.9 -13.9 713 675 5.6
Saskatchewan 178 184 143 -3.3 24.5 2,022 1,830 10.5
Bankruptcies 88 99 81 -11.1 8.6 1,079 1,110 -2.8
Proposals 90 85 62 5.9 45.2 943 720 31.0
Alberta 859 840 708 2.3 21.3 8,667 8,144 6.4
Bankruptcies 393 338 329 16.3 19.5 3,887 4,197 -7.4
Proposals 466 502 379 -7.2 23.0 4,780 3,947 21.1
British Columbia 1,056 966 1,003 9.3 5.3 11,469 11,560 -0.8
Bankruptcies 517 480 568 7.7 -9.0 5,951 6,839 -13.0
Proposals 539 486 435 10.9 23.9 5,518 4,721 16.9
Northwest Territories 6 2 5 200.0 20.0 42 56 -25.0
Bankruptcies 4 1 3 300.0 33.3 23 33 -30.3
Proposals 2 1 2 100.0 0.0 19 23 -17.4
Yukon 3 2 1 50.0 200.0 36 35 2.9
Bankruptcies 1 0 1 -- 0.0 17 24 -29.2
Proposals 2 2 0 0.0 -- 19 11 72.7
Nunavut 1 0 0 -- -- 5 6 -16.7
Bankruptcies 1 0 0 -- -- 3 4 -25.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,463 10,295 9,501 1.6 10.1 119,898 117,807 1.8
Bankruptcies 5,589 5,513 5,210 1.4 7.3 64,031 66,810 -4.2
Proposals 4,874 4,782 4,291 1.9 13.6 55,867 50,997 9.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2015 May 2015 June 2014 May 2015
to
June 2015
June 2014
to
June 2015
06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 3 1 2 200.0 50.0 27 33 -18.2
Bankruptcies 3 1 2 200.0 50.0 25 22 13.6
Proposals 0 0 0 -- -- 2 11 -81.8
Prince Edward Island 1 2 5 -50.0 -80.0 19 23 -17.4
Bankruptcies 0 2 4 -100.0 -100.0 14 17 -17.6
Proposals 1 0 1 -- 0.0 5 6 -16.7
Nova Scotia 17 10 4 70.0 325.0 92 94 -2.1
Bankruptcies 10 9 2 11.1 400.0 62 65 -4.6
Proposals 7 1 2 600.0 250.0 30 29 3.4
New Brunswick 2 8 8 -75.0 -75.0 77 92 -16.3
Bankruptcies 1 7 7 -85.7 -85.7 54 72 -25.0
Proposals 1 1 1 0.0 0.0 23 20 15.0
Quebec 190 164 166 15.9 14.5 2,356 2,237 5.3
Bankruptcies 141 123 120 14.6 17.5 1,705 1,662 2.6
Proposals 49 41 46 19.5 6.5 651 575 13.2
Ontario 89 94 82 -5.3 8.5 1,156 1,124 2.8
Bankruptcies 67 73 59 -8.2 13.6 906 863 5.0
Proposals 22 21 23 4.8 -4.3 250 261 -4.2
Manitoba 3 2 5 50.0 -40.0 36 75 -52.0
Bankruptcies 3 0 5 -- -40.0 25 63 -60.3
Proposals 0 2 0 -100.0 -- 11 12 -8.3
Saskatchewan 11 5 15 120.0 -26.7 89 130 -31.5
Bankruptcies 8 3 7 166.7 14.3 58 77 -24.7
Proposals 3 2 8 50.0 -62.5 31 53 -41.5
Alberta 18 12 4 50.0 350.0 150 158 -5.1
Bankruptcies 16 10 3 60.0 433.3 110 115 -4.3
Proposals 2 2 1 0.0 100.0 40 43 -7.0
British Columbia 23 12 28 91.7 -17.9 211 251 -15.9
Bankruptcies 19 7 25 171.4 -24.0 157 188 -16.5
Proposals 4 5 3 -20.0 33.3 54 63 -14.3
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 357 310 319 15.2 11.9 4,215 4,217 0.0
Bankruptcies 268 235 234 14.0 14.5 3,117 3,144 -0.9
Proposals 89 75 85 18.7 4.7 1,098 1,073 2.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
June 2015 May 2015 June 2014 May 2015
to
June 2015
June 2014
to
June 2015
06-30-2015 06-30-2014 % Change
Agriculture, Forestry, Fishing and Hunting 5 6 12 -16.7 -58.3 86 130 -33.8
Bankruptcies 1 2 6 -50.0 -83.3 44 89 -50.6
Proposals 4 4 6 0.0 -33.3 42 41 2.4
Mining and Oil and Gas Extraction 3 2 2 50.0 50.0 38 38 0.0
Bankruptcies 3 2 0 50.0 -- 21 18 16.7
Proposals 0 0 2 -- -100.0 17 20 -15.0
Utilities 1 1 0 0.0 -- 13 10 30.0
Bankruptcies 1 1 0 0.0 -- 10 6 66.7
Proposals 0 0 0 -- -- 3 4 -25.0
Construction 71 58 63 22.4 12.7 729 759 -4.0
Bankruptcies 54 38 48 42.1 12.5 527 567 -7.1
Proposals 17 20 15 -15.0 13.3 202 192 5.2
Manufacturing 28 30 33 -6.7 -15.2 384 402 -4.5
Bankruptcies 18 23 25 -21.7 -28.0 266 291 -8.6
Proposals 10 7 8 42.9 25.0 118 111 6.3
Wholesale Trade 15 17 15 -11.8 0.0 224 234 -4.3
Bankruptcies 10 14 7 -28.6 42.9 163 159 2.5
Proposals 5 3 8 66.7 -37.5 61 75 -18.7
Retail Trade 36 29 39 24.1 -7.7 501 503 -0.4
Bankruptcies 27 25 28 8.0 -3.6 375 402 -6.7
Proposals 9 4 11 125.0 -18.2 126 101 24.8
Transportation and Warehousing 21 16 17 31.3 23.5 275 233 18.0
Bankruptcies 14 9 13 55.6 7.7 183 182 0.5
Proposals 7 7 4 0.0 75.0 92 51 80.4
Information and Cultural Industries 7 5 1 40.0 600.0 80 49 63.3
Bankruptcies 6 2 1 200.0 500.0 55 33 66.7
Proposals 1 3 0 -66.7 -- 25 16 56.3
Finance and Insurance 8 7 4 14.3 100.0 91 68 33.8
Bankruptcies 7 2 3 250.0 133.3 70 51 37.3
Proposals 1 5 1 -80.0 0.0 21 17 23.5
Real Estate and Rental and Leasing 12 9 17 33.3 -29.4 120 154 -22.1
Bankruptcies 12 7 13 71.4 -7.7 95 112 -15.2
Proposals 0 2 4 -100.0 -100.0 25 42 -40.5
Professional, Scientific and Technical Services 28 27 18 3.7 55.6 301 296 1.7
Bankruptcies 20 23 14 -13.0 42.9 243 217 12.0
Proposals 8 4 4 100.0 100.0 58 79 -26.6
Management of Companies and Enterprises 7 2 4 250.0 75.0 62 63 -1.6
Bankruptcies 5 2 4 150.0 25.0 44 46 -4.3
Proposals 2 0 0 -- -- 18 17 5.9
Administrative and Support, Waste Management and Remediation Services 18 13 23 38.5 -21.7 211 202 4.5
Bankruptcies 15 11 17 36.4 -11.8 161 140 15.0
Proposals 3 2 6 50.0 -50.0 50 62 -19.4
Educational Services 2 2 5 0.0 -60.0 40 50 -20.0
Bankruptcies 2 2 5 0.0 -60.0 32 47 -31.9
Proposals 0 0 0 -- -- 8 3 166.7
Health Care and Social Assistance 10 5 4 100.0 150.0 93 78 19.2
Bankruptcies 5 5 2 0.0 150.0 69 57 21.1
Proposals 5 0 2 -- 150.0 24 21 14.3
Arts, Entertainment and Recreation 3 7 1 -57.1 200.0 79 84 -6.0
Bankruptcies 2 7 1 -71.4 100.0 59 71 -16.9
Proposals 1 0 0 -- -- 20 13 53.8
Accommodation and Food Services 68 53 47 28.3 44.7 683 618 10.5
Bankruptcies 54 45 36 20.0 50.0 539 459 17.4
Proposals 14 8 11 75.0 27.3 144 159 -9.4
Other Services (except Public Administration) 14 20 14 -30.0 0.0 204 245 -16.7
Bankruptcies 12 14 11 -14.3 9.1 160 196 -18.4
Proposals 2 6 3 -66.7 -33.3 44 49 -10.2
Public Administration 0 1 0 -100.0 -- 1 1 0.0
Bankruptcies 0 1 0 -100.0 -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Total 357 310 319 15.2 11.9 4,215 4,217 0.0
Bankruptcies 268 235 234 14.0 14.5 3,117 3,144 -0.9
Proposals 89 75 85 18.7 4.7 1,098 1,073 2.3
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