Insolvency Statistics in Canada—July 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
July 2015 June 2015 July 2014 June 2015
to
July 2015
July 2014
to
July 2015
07-31-2015 07-31-2014 % Change
Newfoundland and Labrador 155 179 126 -13.4 23.0 1,694 1,582 7.1
Bankruptcies 137 145 111 -5.5 23.4 1,426 1,409 1.2
Proposals 18 34 15 -47.1 20.0 268 173 54.9
Prince Edward Island 84 68 73 23.5 15.1 800 713 12.2
Bankruptcies 55 38 53 44.7 3.8 525 493 6.5
Proposals 29 30 20 -3.3 45.0 275 220 25.0
Nova Scotia 457 503 499 -9.1 -8.4 5,304 5,133 3.3
Bankruptcies 322 349 356 -7.7 -9.6 3,771 3,616 4.3
Proposals 135 154 143 -12.3 -5.6 1,533 1,517 1.1
New Brunswick 402 394 358 2.0 12.3 4,479 4,220 6.1
Bankruptcies 268 263 254 1.9 5.5 3,019 2,951 2.3
Proposals 134 131 104 2.3 28.8 1,460 1,269 15.1
Quebec 3,867 3,775 3,495 2.4 10.6 45,882 42,863 7.0
Bankruptcies 2,137 2,233 2,095 -4.3 2.0 26,264 26,265 0.0
Proposals 1,730 1,542 1,400 12.2 23.6 19,618 16,598 18.2
Ontario 3,420 3,559 3,634 -3.9 -5.9 41,407 43,565 -5.0
Bankruptcies 1,549 1,657 1,714 -6.5 -9.6 19,412 21,133 -8.1
Proposals 1,871 1,902 1,920 -1.6 -2.6 21,995 22,432 -1.9
Manitoba 202 187 156 8.0 29.5 2,100 1,913 9.8
Bankruptcies 119 125 107 -4.8 11.2 1,342 1,234 8.8
Proposals 83 62 49 33.9 69.4 758 679 11.6
Saskatchewan 205 189 182 8.5 12.6 2,134 1,997 6.9
Bankruptcies 105 96 99 9.4 6.1 1,143 1,189 -3.9
Proposals 100 93 83 7.5 20.5 991 808 22.6
Alberta 830 877 655 -5.4 26.7 8,992 8,279 8.6
Bankruptcies 358 409 303 -12.5 18.2 4,052 4,221 -4.0
Proposals 472 468 352 0.9 34.1 4,940 4,058 21.7
British Columbia 1,021 1,079 1,044 -5.4 -2.2 11,657 11,818 -1.4
Bankruptcies 488 536 581 -9.0 -16.0 6,015 7,014 -14.2
Proposals 533 543 463 -1.8 15.1 5,642 4,804 17.4
Northwest Territories 4 6 2 -33.3 100.0 44 50 -12.0
Bankruptcies 1 4 2 -75.0 -50.0 22 29 -24.1
Proposals 3 2 0 50.0 -- 22 21 4.8
Yukon 4 3 6 33.3 -33.3 35 39 -10.3
Bankruptcies 2 1 3 100.0 -33.3 16 25 -36.0
Proposals 2 2 3 0.0 -33.3 19 14 35.7
Nunavut 0 1 0 -100.0 -- 6 6 0.0
Bankruptcies 0 1 0 -100.0 -- 4 4 0.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,651 10,820 10,230 -1.6 4.1 124,534 122,178 1.9
Bankruptcies 5,541 5,857 5,678 -5.4 -2.4 67,011 69,583 -3.7
Proposals 5,110 4,963 4,552 3.0 12.3 57,523 52,595 9.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2015 June 2015 July 2014 June 2015
to
July 2015
July 2014
to
July 2015
07-31-2015 07-31-2014 % Change
Newfoundland and Labrador 155 176 126 -11.9 23.0 1,667 1,551 7.5
Bankruptcies 137 142 111 -3.5 23.4 1,401 1,387 1.0
Proposals 18 34 15 -47.1 20.0 266 164 62.2
Prince Edward Island 82 67 69 22.4 18.8 783 686 14.1
Bankruptcies 54 38 51 42.1 5.9 512 474 8.0
Proposals 28 29 18 -3.4 55.6 271 212 27.8
Nova Scotia 451 486 490 -7.2 -8.0 5,215 5,036 3.6
Bankruptcies 316 339 350 -6.8 -9.7 3,709 3,550 4.5
Proposals 135 147 140 -8.2 -3.6 1,506 1,486 1.3
New Brunswick 394 392 352 0.5 11.9 4,400 4,127 6.6
Bankruptcies 261 262 250 -0.4 4.4 2,962 2,880 2.8
Proposals 133 130 102 2.3 30.4 1,438 1,247 15.3
Quebec 3,707 3,585 3,327 3.4 11.4 43,534 40,634 7.1
Bankruptcies 2,016 2,092 1,967 -3.6 2.5 24,566 24,613 -0.2
Proposals 1,691 1,493 1,360 13.3 24.3 18,968 16,021 18.4
Ontario 3,317 3,470 3,552 -4.4 -6.6 40,230 42,448 -5.2
Bankruptcies 1,469 1,590 1,644 -7.6 -10.6 18,496 20,271 -8.8
Proposals 1,848 1,880 1,908 -1.7 -3.1 21,734 22,177 -2.0
Manitoba 198 184 153 7.6 29.4 2,063 1,842 12.0
Bankruptcies 118 122 105 -3.3 12.4 1,318 1,172 12.5
Proposals 80 62 48 29.0 66.7 745 670 11.2
Saskatchewan 195 178 175 9.6 11.4 2,042 1,872 9.1
Bankruptcies 97 88 95 10.2 2.1 1,081 1,116 -3.1
Proposals 98 90 80 8.9 22.5 961 756 27.1
Alberta 824 859 642 -4.1 28.3 8,849 8,117 9.0
Bankruptcies 353 393 296 -10.2 19.3 3,944 4,108 -4.0
Proposals 471 466 346 1.1 36.1 4,905 4,009 22.3
British Columbia 1,007 1,056 1,017 -4.6 -1.0 11,459 11,553 -0.8
Bankruptcies 476 517 559 -7.9 -14.8 5,868 6,812 -13.9
Proposals 531 539 458 -1.5 15.9 5,591 4,741 17.9
Northwest Territories 4 6 2 -33.3 100.0 44 50 -12.0
Bankruptcies 1 4 2 -75.0 -50.0 22 29 -24.1
Proposals 3 2 0 50.0 -- 22 21 4.8
Yukon 4 3 6 33.3 -33.3 34 39 -12.8
Bankruptcies 2 1 3 100.0 -33.3 16 25 -36.0
Proposals 2 2 3 0.0 -33.3 18 14 28.6
Nunavut 0 1 0 -100.0 -- 5 6 -16.7
Bankruptcies 0 1 0 -100.0 -- 3 4 -25.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,338 10,463 9,911 -1.2 4.3 120,325 117,961 2.0
Bankruptcies 5,300 5,589 5,433 -5.2 -2.4 63,898 66,441 -3.8
Proposals 5,038 4,874 4,478 3.4 12.5 56,427 51,520 9.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2015 June 2015 July 2014 June 2015
to
July 2015
July 2014
to
July 2015
07-31-2015 07-31-2014 % Change
Newfoundland and Labrador 0 3 0 -100.0 -- 27 31 -12.9
Bankruptcies 0 3 0 -100.0 -- 25 22 13.6
Proposals 0 0 0 -- -- 2 9 -77.8
Prince Edward Island 2 1 4 100.0 -50.0 17 27 -37.0
Bankruptcies 1 0 2 -- -50.0 13 19 -31.6
Proposals 1 1 2 0.0 -50.0 4 8 -50.0
Nova Scotia 6 17 9 -64.7 -33.3 89 97 -8.2
Bankruptcies 6 10 6 -40.0 0.0 62 66 -6.1
Proposals 0 7 3 -100.0 -100.0 27 31 -12.9
New Brunswick 8 2 6 300.0 33.3 79 93 -15.1
Bankruptcies 7 1 4 600.0 75.0 57 71 -19.7
Proposals 1 1 2 0.0 -50.0 22 22 0.0
Quebec 160 190 168 -15.8 -4.8 2,348 2,229 5.3
Bankruptcies 121 141 128 -14.2 -5.5 1,698 1,652 2.8
Proposals 39 49 40 -20.4 -2.5 650 577 12.7
Ontario 103 89 82 15.7 25.6 1,177 1,117 5.4
Bankruptcies 80 67 70 19.4 14.3 916 862 6.3
Proposals 23 22 12 4.5 91.7 261 255 2.4
Manitoba 4 3 3 33.3 33.3 37 71 -47.9
Bankruptcies 1 3 2 -66.7 -50.0 24 62 -61.3
Proposals 3 0 1 -- 200.0 13 9 44.4
Saskatchewan 10 11 7 -9.1 42.9 92 125 -26.4
Bankruptcies 8 8 4 0.0 100.0 62 73 -15.1
Proposals 2 3 3 -33.3 -33.3 30 52 -42.3
Alberta 6 18 13 -66.7 -53.8 143 162 -11.7
Bankruptcies 5 16 7 -68.8 -28.6 108 113 -4.4
Proposals 1 2 6 -50.0 -83.3 35 49 -28.6
British Columbia 14 23 27 -39.1 -48.1 198 265 -25.3
Bankruptcies 12 19 22 -36.8 -45.5 147 202 -27.2
Proposals 2 4 5 -50.0 -60.0 51 63 -19.0
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 313 357 319 -12.3 -1.9 4,209 4,217 -0.2
Bankruptcies 241 268 245 -10.1 -1.6 3,113 3,142 -0.9
Proposals 72 89 74 -19.1 -2.7 1,096 1,075 2.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
July 2015 June 2015 July 2014 June 2015
to
July 2015
July 2014
to
July 2015
07-31-2015 07-31-2014 % Change
Agriculture, Forestry, Fishing and Hunting 7 5 8 40.0 -12.5 85 129 -34.1
Bankruptcies 5 1 6 400.0 -16.7 43 89 -51.7
Proposals 2 4 2 -50.0 0.0 42 40 5.0
Mining and Oil and Gas Extraction 2 3 2 -33.3 0.0 38 39 -2.6
Bankruptcies 0 3 0 -100.0 -- 21 18 16.7
Proposals 2 0 2 -- 0.0 17 21 -19.0
Utilities 4 1 3 300.0 33.3 14 13 7.7
Bankruptcies 2 1 2 100.0 0.0 10 8 25.0
Proposals 2 0 1 -- 100.0 4 5 -20.0
Construction 53 71 54 -25.4 -1.9 728 753 -3.3
Bankruptcies 44 54 44 -18.5 0.0 527 565 -6.7
Proposals 9 17 10 -47.1 -10.0 201 188 6.9
Manufacturing 25 28 33 -10.7 -24.2 376 410 -8.3
Bankruptcies 16 18 23 -11.1 -30.4 259 293 -11.6
Proposals 9 10 10 -10.0 -10.0 117 117 0.0
Wholesale Trade 18 15 21 20.0 -14.3 221 239 -7.5
Bankruptcies 15 10 19 50.0 -21.1 159 162 -1.9
Proposals 3 5 2 -40.0 50.0 62 77 -19.5
Retail Trade 38 36 41 5.6 -7.3 498 509 -2.2
Bankruptcies 30 27 28 11.1 7.1 377 402 -6.2
Proposals 8 9 13 -11.1 -38.5 121 107 13.1
Transportation and Warehousing 14 21 18 -33.3 -22.2 271 235 15.3
Bankruptcies 12 14 17 -14.3 -29.4 178 187 -4.8
Proposals 2 7 1 -71.4 100.0 93 48 93.8
Information and Cultural Industries 4 7 6 -42.9 -33.3 78 49 59.2
Bankruptcies 4 6 4 -33.3 0.0 55 32 71.9
Proposals 0 1 2 -100.0 -100.0 23 17 35.3
Finance and Insurance 5 8 7 -37.5 -28.6 89 72 23.6
Bankruptcies 3 7 6 -57.1 -50.0 67 54 24.1
Proposals 2 1 1 100.0 100.0 22 18 22.2
Real Estate and Rental and Leasing 9 12 9 -25.0 0.0 120 149 -19.5
Bankruptcies 9 12 7 -25.0 28.6 97 108 -10.2
Proposals 0 0 2 -- -100.0 23 41 -43.9
Professional, Scientific and Technical Services 24 28 21 -14.3 14.3 304 295 3.1
Bankruptcies 20 20 15 0.0 33.3 248 216 14.8
Proposals 4 8 6 -50.0 -33.3 56 79 -29.1
Management of Companies and Enterprises 5 7 6 -28.6 -16.7 61 64 -4.7
Bankruptcies 3 5 5 -40.0 -40.0 42 47 -10.6
Proposals 2 2 1 0.0 100.0 19 17 11.8
Administrative and Support, Waste Management and Remediation Services 23 18 17 27.8 35.3 217 200 8.5
Bankruptcies 18 15 14 20.0 28.6 165 140 17.9
Proposals 5 3 3 66.7 66.7 52 60 -13.3
Educational Services 0 2 1 -100.0 -100.0 39 46 -15.2
Bankruptcies 0 2 0 -100.0 -- 32 42 -23.8
Proposals 0 0 1 -- -100.0 7 4 75.0
Health Care and Social Assistance 8 10 6 -20.0 33.3 95 81 17.3
Bankruptcies 2 5 6 -60.0 -66.7 65 61 6.6
Proposals 6 5 0 20.0 -- 30 20 50.0
Arts, Entertainment and Recreation 6 3 4 100.0 50.0 81 78 3.8
Bankruptcies 5 2 4 150.0 25.0 60 67 -10.4
Proposals 1 1 0 0.0 -- 21 11 90.9
Accommodation and Food Services 58 68 51 -14.7 13.7 690 618 11.7
Bankruptcies 43 54 36 -20.4 19.4 546 457 19.5
Proposals 15 14 15 7.1 0.0 144 161 -10.6
Other Services (except Public Administration) 10 14 11 -28.6 -9.1 203 237 -14.3
Bankruptcies 10 12 9 -16.7 11.1 161 193 -16.6
Proposals 0 2 2 -100.0 -100.0 42 44 -4.5
Public Administration 0 0 0 -- -- 1 1 0.0
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Total 313 357 319 -12.3 -1.9 4,209 4,217 -0.2
Bankruptcies 241 268 245 -10.1 -1.6 3,113 3,142 -0.9
Proposals 72 89 74 -19.1 -2.7 1,096 1,075 2.0
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