Insolvency Statistics in Canada—August 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
August
2015
July
2015
August
2014
Jul. 2015
to
Aug. 2015
Aug. 2014
to
Aug. 2015
08-31-2015 08-31-2014 % Change
Newfoundland and Labrador 156 155 128 0.6 21.9 1,722 1,575 9.3
Bankruptcies 126 137 103 -8.0 22.3 1,449 1,399 3.6
Proposals 30 18 25 66.7 20.0 273 176 55.1
Prince Edward Island 61 84 82 -27.4 -25.6 779 727 7.2
Bankruptcies 39 55 61 -29.1 -36.1 503 508 -1.0
Proposals 22 29 21 -24.1 4.8 276 219 26.0
Nova Scotia 381 457 396 -16.6 -3.8 5,289 5,096 3.8
Bankruptcies 260 322 283 -19.3 -8.1 3,748 3,605 4.0
Proposals 121 135 113 -10.4 7.1 1,541 1,491 3.4
New Brunswick 385 402 398 -4.2 -3.3 4,466 4,240 5.3
Bankruptcies 249 268 276 -7.1 -9.8 2,992 2,958 1.1
Proposals 136 134 122 1.5 11.5 1,474 1,282 15.0
Quebec 3,319 3,867 3,461 -14.2 -4.1 45,740 42,916 6.6
Bankruptcies 1,973 2,137 2,022 -7.7 -2.4 26,215 26,072 0.5
Proposals 1,346 1,730 1,439 -22.2 -6.5 19,525 16,844 15.9
Ontario 3,103 3,420 3,132 -9.3 -0.9 41,378 43,069 -3.9
Bankruptcies 1,434 1,549 1,487 -7.4 -3.6 19,359 20,774 -6.8
Proposals 1,669 1,871 1,645 -10.8 1.5 22,019 22,295 -1.2
Manitoba 161 202 166 -20.3 -3.0 2,095 1,903 10.1
Bankruptcies 98 119 97 -17.6 1.0 1,343 1,222 9.9
Proposals 63 83 69 -24.1 -8.7 752 681 10.4
Saskatchewan 196 205 163 -4.4 20.2 2,167 2,000 8.4
Bankruptcies 102 105 85 -2.9 20.0 1,160 1,176 -1.4
Proposals 94 100 78 -6.0 20.5 1,007 824 22.2
Alberta 756 830 644 -8.9 17.4 9,104 8,273 10.0
Bankruptcies 337 358 300 -5.9 12.3 4,089 4,135 -1.1
Proposals 419 472 344 -11.2 21.8 5,015 4,138 21.2
British Columbia 955 1,021 844 -6.5 13.2 11,768 11,733 0.3
Bankruptcies 449 488 454 -8.0 -1.1 6,010 6,938 -13.4
Proposals 506 533 390 -5.1 29.7 5,758 4,795 20.1
Northwest Territories 3 4 5 -25.0 -40.0 42 53 -20.8
Bankruptcies 1 1 1 0.0 0.0 22 28 -21.4
Proposals 2 3 4 -33.3 -50.0 20 25 -20.0
Yukon 5 4 3 25.0 66.7 37 40 -7.5
Bankruptcies 3 2 3 50.0 0.0 16 27 -40.7
Proposals 2 2 0 0.0 -- 21 13 61.5
Nunavut 0 0 1 -- -100.0 5 6 -16.7
Bankruptcies 0 0 0 -- -- 4 3 33.3
Proposals 0 0 1 -- -100.0 1 3 -66.7
Canada 9,481 10,651 9,423 -11.0 0.6 124,592 121,631 2.4
Bankruptcies 5,071 5,541 5,172 -8.5 -2.0 66,910 68,845 -2.8
Proposals 4,410 5,110 4,251 -13.7 3.7 57,682 52,786 9.3
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
August
2015
July
2015
August
2014
Jul. 2015
to
Aug. 2015
Aug. 2014
to
Aug. 2015
08-31-2015 08-31-2014 % Change
Newfoundland and Labrador 153 155 126 -1.3 21.4 1,694 1,552 9.1
Bankruptcies 124 137 101 -9.5 22.8 1,424 1,379 3.3
Proposals 29 18 25 61.1 16.0 270 173 56.1
Prince Edward Island 61 82 82 -25.6 -25.6 762 704 8.2
Bankruptcies 39 54 61 -27.8 -36.1 490 491 -0.2
Proposals 22 28 21 -21.4 4.8 272 213 27.7
Nova Scotia 378 451 389 -16.2 -2.8 5,204 5,006 4.0
Bankruptcies 257 316 279 -18.7 -7.9 3,687 3,546 4.0
Proposals 121 135 110 -10.4 10.0 1,517 1,460 3.9
New Brunswick 381 394 397 -3.3 -4.0 4,384 4,154 5.5
Bankruptcies 246 261 275 -5.7 -10.5 2,933 2,890 1.5
Proposals 135 133 122 1.5 10.7 1,451 1,264 14.8
Quebec 3,190 3,707 3,301 -13.9 -3.4 43,423 40,681 6.7
Bankruptcies 1,869 2,016 1,908 -7.3 -2.0 24,527 24,424 0.4
Proposals 1,321 1,691 1,393 -21.9 -5.2 18,896 16,257 16.2
Ontario 3,026 3,317 3,041 -8.8 -0.5 40,215 41,957 -4.2
Bankruptcies 1,376 1,469 1,413 -6.3 -2.6 18,459 19,923 -7.3
Proposals 1,650 1,848 1,628 -10.7 1.4 21,756 22,034 -1.3
Manitoba 155 198 162 -21.7 -4.3 2,056 1,838 11.9
Bankruptcies 93 118 96 -21.2 -3.1 1,315 1,169 12.5
Proposals 62 80 66 -22.5 -6.1 741 669 10.8
Saskatchewan 184 195 155 -5.6 18.7 2,071 1,874 10.5
Bankruptcies 92 97 81 -5.2 13.6 1,092 1,103 -1.0
Proposals 92 98 74 -6.1 24.3 979 771 27.0
Alberta 743 824 629 -9.8 18.1 8,963 8,109 10.5
Bankruptcies 333 353 289 -5.7 15.2 3,988 4,018 -0.7
Proposals 410 471 340 -13.0 20.6 4,975 4,091 21.6
British Columbia 942 1,007 823 -6.5 14.5 11,578 11,465 1.0
Bankruptcies 438 476 438 -8.0 0.0 5,868 6,731 -12.8
Proposals 504 531 385 -5.1 30.9 5,710 4,734 20.6
Northwest Territories 3 4 5 -25.0 -40.0 42 53 -20.8
Bankruptcies 1 1 1 0.0 0.0 22 28 -21.4
Proposals 2 3 4 -33.3 -50.0 20 25 -20.0
Yukon 5 4 3 25.0 66.7 36 40 -10.0
Bankruptcies 3 2 3 50.0 0.0 16 27 -40.7
Proposals 2 2 0 0.0 -- 20 13 53.8
Nunavut 0 0 1 -- -100.0 4 6 -33.3
Bankruptcies 0 0 0 -- -- 3 3 0.0
Proposals 0 0 1 -- -100.0 1 3 -66.7
Canada 9,221 10,338 9,114 -10.8 1.2 120,432 117,439 2.5
Bankruptcies 4,871 5,300 4,945 -8.1 -1.5 63,824 65,732 -2.9
Proposals 4,350 5,038 4,169 -13.7 4.3 56,608 51,707 9.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
August
2015
July
2015
August
2014
Jul. 2015
to
Aug. 2015
Aug. 2014
to
Aug. 2015
08-31-2015 08-31-2014 % Change
Newfoundland and Labrador 3 0 2 -- 50.0 28 23 21.7
Bankruptcies 2 0 2 -- 0.0 25 20 25.0
Proposals 1 0 0 -- -- 3 3 0.0
Prince Edward Island 0 2 0 -100.0 -- 17 23 -26.1
Bankruptcies 0 1 0 -100.0 -- 13 17 -23.5
Proposals 0 1 0 -100.0 -- 4 6 -33.3
Nova Scotia 3 6 7 -50.0 -57.1 85 90 -5.6
Bankruptcies 3 6 4 -50.0 -25.0 61 59 3.4
Proposals 0 0 3 -- -100.0 24 31 -22.6
New Brunswick 4 8 1 -50.0 300.0 82 86 -4.7
Bankruptcies 3 7 1 -57.1 200.0 59 68 -13.2
Proposals 1 1 0 0.0 -- 23 18 27.8
Quebec 129 160 160 -19.4 -19.4 2,317 2,235 3.7
Bankruptcies 104 121 114 -14.0 -8.8 1,688 1,648 2.4
Proposals 25 39 46 -35.9 -45.7 629 587 7.2
Ontario 77 103 91 -25.2 -15.4 1,163 1,112 4.6
Bankruptcies 58 80 74 -27.5 -21.6 900 851 5.8
Proposals 19 23 17 -17.4 11.8 263 261 0.8
Manitoba 6 4 4 50.0 50.0 39 65 -40.0
Bankruptcies 5 1 1 400.0 400.0 28 53 -47.2
Proposals 1 3 3 -66.7 -66.7 11 12 -8.3
Saskatchewan 12 10 8 20.0 50.0 96 126 -23.8
Bankruptcies 10 8 4 25.0 150.0 68 73 -6.8
Proposals 2 2 4 0.0 -50.0 28 53 -47.2
Alberta 13 6 15 116.7 -13.3 141 164 -14.0
Bankruptcies 4 5 11 -20.0 -63.6 101 117 -13.7
Proposals 9 1 4 800.0 125.0 40 47 -14.9
British Columbia 13 14 21 -7.1 -38.1 190 268 -29.1
Bankruptcies 11 12 16 -8.3 -31.3 142 207 -31.4
Proposals 2 2 5 0.0 -60.0 48 61 -21.3
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 260 313 309 -16.9 -15.9 4,160 4,192 -0.8
Bankruptcies 200 241 227 -17.0 -11.9 3,086 3,113 -0.9
Proposals 60 72 82 -16.7 -26.8 1,074 1,079 -0.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
August
2015
July
2015
August
2014
Jul. 2015
to
Aug. 2015
Aug. 2014
to
Aug. 2015
08-31-2015 08-31-2014 % Change
Agriculture, Forestry, Fishing and Hunting 2 7 8 -71.4 -75.0 79 114 -30.7
Bankruptcies 1 5 2 -80.0 -50.0 42 79 -46.8
Proposals 1 2 6 -50.0 -83.3 37 35 5.7
Mining and Oil and Gas Extraction 2 2 3 0.0 -33.3 37 40 -7.5
Bankruptcies 1 0 1 -- 0.0 21 19 10.5
Proposals 1 2 2 -50.0 -50.0 16 21 -23.8
Utilities 0 4 1 -100.0 -100.0 13 14 -7.1
Bankruptcies 0 2 1 -100.0 -100.0 9 9 0.0
Proposals 0 2 0 -100.0 -- 4 5 -20.0
Construction 43 53 49 -18.9 -12.2 722 737 -2.0
Bankruptcies 32 44 35 -27.3 -8.6 524 550 -4.7
Proposals 11 9 14 22.2 -21.4 198 187 5.9
Manufacturing 24 25 21 -4.0 14.3 379 396 -4.3
Bankruptcies 18 16 18 12.5 0.0 259 287 -9.8
Proposals 6 9 3 -33.3 100.0 120 109 10.1
Wholesale Trade 14 18 17 -22.2 -17.6 218 236 -7.6
Bankruptcies 9 15 13 -40.0 -30.8 155 157 -1.3
Proposals 5 3 4 66.7 25.0 63 79 -20.3
Retail Trade 32 38 38 -15.8 -15.8 492 512 -3.9
Bankruptcies 29 30 29 -3.3 0.0 377 398 -5.3
Proposals 3 8 9 -62.5 -66.7 115 114 0.9
Transportation and Warehousing 12 14 23 -14.3 -47.8 260 242 7.4
Bankruptcies 7 12 18 -41.7 -61.1 167 192 -13.0
Proposals 5 2 5 150.0 0.0 93 50 86.0
Information and Cultural Industries 3 4 5 -25.0 -40.0 76 54 40.7
Bankruptcies 2 4 4 -50.0 -50.0 53 36 47.2
Proposals 1 0 1 -- 0.0 23 18 27.8
Finance and Insurance 3 5 9 -40.0 -66.7 83 75 10.7
Bankruptcies 3 3 7 0.0 -57.1 63 55 14.5
Proposals 0 2 2 -100.0 -100.0 20 20 0.0
Real Estate and Rental and Leasing 11 9 6 22.2 83.3 125 148 -15.5
Bankruptcies 8 9 4 -11.1 100.0 101 106 -4.7
Proposals 3 0 2 -- 50.0 24 42 -42.9
Professional, Scientific and Technical Services 25 24 18 4.2 38.9 311 294 5.8
Bankruptcies 17 20 17 -15.0 0.0 248 223 11.2
Proposals 8 4 1 100.0 700.0 63 71 -11.3
Management of Companies and Enterprises 1 5 5 -80.0 -80.0 57 59 -3.4
Bankruptcies 1 3 4 -66.7 -75.0 39 43 -9.3
Proposals 0 2 1 -100.0 -100.0 18 16 12.5
Administrative and Support, Waste Management and Remediation Services 13 23 17 -43.5 -23.5 213 199 7.0
Bankruptcies 9 18 15 -50.0 -40.0 159 142 12.0
Proposals 4 5 2 -20.0 100.0 54 57 -5.3
Educational Services 2 0 5 -- -60.0 36 48 -25.0
Bankruptcies 2 0 3 -- -33.3 31 42 -26.2
Proposals 0 0 2 -- -100.0 5 6 -16.7
Health Care and Social Assistance 6 8 4 -25.0 50.0 97 83 16.9
Bankruptcies 4 2 2 100.0 100.0 67 61 9.8
Proposals 2 6 2 -66.7 0.0 30 22 36.4
Arts, Entertainment and Recreation 5 6 6 -16.7 -16.7 80 78 2.6
Bankruptcies 4 5 5 -20.0 -20.0 59 66 -10.6
Proposals 1 1 1 0.0 0.0 21 12 75.0
Accommodation and Food Services 48 58 61 -17.2 -21.3 677 635 6.6
Bankruptcies 40 43 38 -7.0 5.3 548 463 18.4
Proposals 8 15 23 -46.7 -65.2 129 172 -25.0
Other Services (except Public Administration) 13 10 13 30.0 0.0 203 227 -10.6
Bankruptcies 12 10 11 20.0 9.1 162 184 -12.0
Proposals 1 0 2 -- -50.0 41 43 -4.7
Public Administration 1 0 0 -- -- 2 1 100.0
Bankruptcies 1 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 0 0 --
Total 260 313 309 -16.9 -15.9 4,160 4,192 -0.8
Bankruptcies 200 241 227 -17.0 -11.9 3,086 3,113 -0.9
Proposals 60 72 82 -16.7 -26.8 1,074 1,079 -0.5
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