Insolvency Statistics in Canada—October 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
October
2015
September
2015
October
2014
Sept. 2015
to
Oct. 2015
Oct. 2014
to
Oct. 2015
10-31-2015 10-31-2014 % Change
Newfoundland and Labrador 191 156 151 22.4 26.5 1,791 1,587 12.9
Bankruptcies 142 137 128 3.6 10.9 1,489 1,397 6.6
Proposals 49 19 23 157.9 113.0 302 190 58.9
Prince Edward Island 79 53 57 49.1 38.6 792 748 5.9
Bankruptcies 51 32 44 59.4 15.9 499 532 -6.2
Proposals 28 21 13 33.3 115.4 293 216 35.6
Nova Scotia 494 474 511 4.2 -3.3 5,246 5,194 1.0
Bankruptcies 354 332 372 6.6 -4.8 3,702 3,698 0.1
Proposals 140 142 139 -1.4 0.7 1,544 1,496 3.2
New Brunswick 364 411 394 -11.4 -7.6 4,454 4,310 3.3
Bankruptcies 238 270 285 -11.9 -16.5 2,940 3,032 -3.0
Proposals 126 141 109 -10.6 15.6 1,514 1,278 18.5
Quebec 4,061 3,915 4,210 3.7 -3.5 45,812 43,311 5.8
Bankruptcies 2,287 2,324 2,490 -1.6 -8.2 26,136 25,995 0.5
Proposals 1,774 1,591 1,720 11.5 3.1 19,676 17,316 13.6
Ontario 3,481 3,329 3,776 4.6 -7.8 40,875 42,585 -4.0
Bankruptcies 1,554 1,515 1,765 2.6 -12.0 18,957 20,373 -7.0
Proposals 1,927 1,814 2,011 6.2 -4.2 21,918 22,212 -1.3
Manitoba 187 176 165 6.3 13.3 2,107 1,950 8.1
Bankruptcies 110 101 91 8.9 20.9 1,333 1,240 7.5
Proposals 77 75 74 2.7 4.1 774 710 9.0
Saskatchewan 201 198 183 1.5 9.8 2,202 2,046 7.6
Bankruptcies 108 100 107 8.0 0.9 1,157 1,187 -2.5
Proposals 93 98 76 -5.1 22.4 1,045 859 21.7
Alberta 924 922 727 0.2 27.1 9,516 8,287 14.8
Bankruptcies 387 390 353 -0.8 9.6 4,195 4,020 4.4
Proposals 537 532 374 0.9 43.6 5,321 4,267 24.7
British Columbia 933 983 1,022 -5.1 -8.7 11,674 11,682 -0.1
Bankruptcies 440 480 508 -8.3 -13.4 5,903 6,691 -11.8
Proposals 493 503 514 -2.0 -4.1 5,771 4,991 15.6
Northwest Territories 5 4 4 25.0 25.0 46 47 -2.1
Bankruptcies 4 3 4 33.3 0.0 25 27 -7.4
Proposals 1 1 0 0.0 -- 21 20 5.0
Yukon 1 4 3 -75.0 -66.7 37 43 -14.0
Bankruptcies 0 3 1 -100.0 -100.0 17 28 -39.3
Proposals 1 1 2 0.0 -50.0 20 15 33.3
Nunavut 1 0 2 -- -50.0 4 7 -42.9
Bankruptcies 0 0 2 -- -100.0 2 5 -60.0
Proposals 1 0 0 -- -- 2 2 0.0
Canada 10,922 10,625 11,205 2.8 -2.5 124,556 121,797 2.3
Bankruptcies 5,675 5,687 6,150 -0.2 -7.7 66,355 68,225 -2.7
Proposals 5,247 4,938 5,055 6.3 3.8 58,201 53,572 8.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
October
2015
September
2015
October
2014
Sept. 2015
to
Oct. 2015
Oct. 2014
to
Oct. 2015
10-31-2015 10-31-2014 % Change
Newfoundland and Labrador 190 151 143 25.8 32.9 1,766 1,557 13.4
Bankruptcies 141 133 120 6.0 17.5 1,468 1,370 7.2
Proposals 49 18 23 172.2 113.0 298 187 59.4
Prince Edward Island 77 52 57 48.1 35.1 773 730 5.9
Bankruptcies 49 31 44 58.1 11.4 484 520 -6.9
Proposals 28 21 13 33.3 115.4 289 210 37.6
Nova Scotia 490 462 507 6.1 -3.4 5,152 5,115 0.7
Bankruptcies 351 323 368 8.7 -4.6 3,636 3,645 -0.2
Proposals 139 139 139 0.0 0.0 1,516 1,470 3.1
New Brunswick 357 401 384 -11.0 -7.0 4,372 4,216 3.7
Bankruptcies 232 263 276 -11.8 -15.9 2,884 2,955 -2.4
Proposals 125 138 108 -9.4 15.7 1,488 1,261 18.0
Quebec 3,877 3,733 3,984 3.9 -2.7 43,543 41,038 6.1
Bankruptcies 2,151 2,193 2,326 -1.9 -7.5 24,488 24,317 0.7
Proposals 1,726 1,540 1,658 12.1 4.1 19,055 16,721 14.0
Ontario 3,402 3,234 3,656 5.2 -6.9 39,737 41,473 -4.2
Bankruptcies 1,496 1,438 1,671 4.0 -10.5 18,086 19,514 -7.3
Proposals 1,906 1,796 1,985 6.1 -4.0 21,651 21,959 -1.4
Manitoba 183 173 162 5.8 13.0 2,066 1,892 9.2
Bankruptcies 107 99 89 8.1 20.2 1,304 1,193 9.3
Proposals 76 74 73 2.7 4.1 762 699 9.0
Saskatchewan 189 178 177 6.2 6.8 2,088 1,918 8.9
Bankruptcies 101 87 103 16.1 -1.9 1,077 1,114 -3.3
Proposals 88 91 74 -3.3 18.9 1,011 804 25.7
Alberta 916 910 711 0.7 28.8 9,380 8,134 15.3
Bankruptcies 380 381 339 -0.3 12.1 4,097 3,912 4.7
Proposals 536 529 372 1.3 44.1 5,283 4,222 25.1
British Columbia 905 960 1,012 -5.7 -10.6 11,460 11,427 0.3
Bankruptcies 423 461 498 -8.2 -15.1 5,749 6,489 -11.4
Proposals 482 499 514 -3.4 -6.2 5,711 4,938 15.7
Northwest Territories 5 4 4 25.0 25.0 46 47 -2.1
Bankruptcies 4 3 4 33.3 0.0 25 27 -7.4
Proposals 1 1 0 0.0 -- 21 20 5.0
Yukon 1 4 3 -75.0 -66.7 36 43 -16.3
Bankruptcies 0 3 1 -100.0 -100.0 17 28 -39.3
Proposals 1 1 2 0.0 -50.0 19 15 26.7
Nunavut 1 0 1 -- 0.0 4 6 -33.3
Bankruptcies 0 0 1 -- -100.0 2 4 -50.0
Proposals 1 0 0 -- -- 2 2 0.0
Canada 10,593 10,262 10,801 3.2 -1.9 120,423 117,596 2.4
Bankruptcies 5,435 5,415 5,840 0.4 -6.9 63,317 65,088 -2.7
Proposals 5,158 4,847 4,961 6.4 4.0 57,106 52,508 8.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
October
2015
September
2015
October
2014
Sept. 2015
to
Oct. 2015
Oct. 2014
to
Oct. 2015
10-31-2015 10-31-2014 % Change
Newfoundland and Labrador 1 5 8 -80.0 -87.5 25 30 -16.7
Bankruptcies 1 4 8 -75.0 -87.5 21 27 -22.2
Proposals 0 1 0 -100.0 -- 4 3 33.3
Prince Edward Island 2 1 0 100.0 -- 19 18 5.6
Bankruptcies 2 1 0 100.0 -- 15 12 25.0
Proposals 0 0 0 -- -- 4 6 -33.3
Nova Scotia 4 12 4 -66.7 0.0 94 79 19.0
Bankruptcies 3 9 4 -66.7 -25.0 66 53 24.5
Proposals 1 3 0 -66.7 -- 28 26 7.7
New Brunswick 7 10 10 -30.0 -30.0 82 94 -12.8
Bankruptcies 6 7 9 -14.3 -33.3 56 77 -27.3
Proposals 1 3 1 -66.7 0.0 26 17 52.9
Quebec 184 182 226 1.1 -18.6 2,269 2,273 -0.2
Bankruptcies 136 131 164 3.8 -17.1 1,648 1,678 -1.8
Proposals 48 51 62 -5.9 -22.6 621 595 4.4
Ontario 79 95 120 -16.8 -34.2 1,138 1,112 2.3
Bankruptcies 58 77 94 -24.7 -38.3 871 859 1.4
Proposals 21 18 26 16.7 -19.2 267 253 5.5
Manitoba 4 3 3 33.3 33.3 41 58 -29.3
Bankruptcies 3 2 2 50.0 50.0 29 47 -38.3
Proposals 1 1 1 0.0 0.0 12 11 9.1
Saskatchewan 12 20 6 -40.0 100.0 114 128 -10.9
Bankruptcies 7 13 4 -46.2 75.0 80 73 9.6
Proposals 5 7 2 -28.6 150.0 34 55 -38.2
Alberta 8 12 16 -33.3 -50.0 136 153 -11.1
Bankruptcies 7 9 14 -22.2 -50.0 98 108 -9.3
Proposals 1 3 2 -66.7 -50.0 38 45 -15.6
British Columbia 28 23 10 21.7 180.0 214 255 -16.1
Bankruptcies 17 19 10 -10.5 70.0 154 202 -23.8
Proposals 11 4 0 175.0 -- 60 53 13.2
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 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 1 -- -100.0 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 329 363 404 -9.4 -18.6 4,133 4,201 -1.6
Bankruptcies 240 272 310 -11.8 -22.6 3,038 3,137 -3.2
Proposals 89 91 94 -2.2 -5.3 1,095 1,064 2.9
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
October
2015
September
2015
October
2014
Sept. 2015
to
Oct. 2015
Oct. 2014
to
Oct. 2015
10-31-2015 10-31-2014 % Change
Agriculture, Forestry, Fishing and Hunting 6 13 7 -53.8 -14.3 85 103 -17.5
Bankruptcies 4 5 6 -20.0 -33.3 41 72 -43.1
Proposals 2 8 1 -75.0 100.0 44 31 41.9
Mining and Oil and Gas Extraction 3 5 3 -40.0 0.0 37 44 -15.9
Bankruptcies 1 5 2 -80.0 -50.0 23 20 15.0
Proposals 2 0 1 -- 100.0 14 24 -41.7
Utilities 0 2 0 -100.0 -- 13 14 -7.1
Bankruptcies 0 2 0 -100.0 -- 9 11 -18.2
Proposals 0 0 0 -- -- 4 3 33.3
Construction 67 79 59 -15.2 13.6 760 726 4.7
Bankruptcies 49 57 43 -14.0 14.0 550 543 1.3
Proposals 18 22 16 -18.2 12.5 210 183 14.8
Manufacturing 36 34 40 5.9 -10.0 376 390 -3.6
Bankruptcies 26 29 24 -10.3 8.3 265 277 -4.3
Proposals 10 5 16 100.0 -37.5 111 113 -1.8
Wholesale Trade 14 13 17 7.7 -17.6 215 228 -5.7
Bankruptcies 10 10 11 0.0 -9.1 156 150 4.0
Proposals 4 3 6 33.3 -33.3 59 78 -24.4
Retail Trade 43 50 50 -14.0 -14.0 491 517 -5.0
Bankruptcies 30 39 38 -23.1 -21.1 375 397 -5.5
Proposals 13 11 12 18.2 8.3 116 120 -3.3
Transportation and Warehousing 18 17 29 5.9 -37.9 249 245 1.6
Bankruptcies 14 12 23 16.7 -39.1 154 195 -21.0
Proposals 4 5 6 -20.0 -33.3 95 50 90.0
Information and Cultural Industries 7 5 9 40.0 -22.2 72 68 5.9
Bankruptcies 7 4 5 75.0 40.0 53 46 15.2
Proposals 0 1 4 -100.0 -100.0 19 22 -13.6
Finance and Insurance 4 5 10 -20.0 -60.0 76 75 1.3
Bankruptcies 4 3 7 33.3 -42.9 58 55 5.5
Proposals 0 2 3 -100.0 -100.0 18 20 -10.0
Real Estate and Rental and Leasing 15 11 12 36.4 25.0 133 140 -5.0
Bankruptcies 12 10 10 20.0 20.0 108 106 1.9
Proposals 3 1 2 200.0 50.0 25 34 -26.5
Professional, Scientific and Technical Services 21 24 30 -12.5 -30.0 303 291 4.1
Bankruptcies 19 14 25 35.7 -24.0 237 224 5.8
Proposals 2 10 5 -80.0 -60.0 66 67 -1.5
Management of Companies and Enterprises 4 6 4 -33.3 0.0 59 57 3.5
Bankruptcies 2 5 2 -60.0 0.0 41 42 -2.4
Proposals 2 1 2 100.0 0.0 18 15 20.0
Administrative and Support, Waste Management and Remediation Services 14 13 22 7.7 -36.4 201 209 -3.8
Bankruptcies 8 11 18 -27.3 -55.6 145 156 -7.1
Proposals 6 2 4 200.0 50.0 56 53 5.7
Educational Services 2 4 4 -50.0 -50.0 35 48 -27.1
Bankruptcies 1 2 4 -50.0 -75.0 29 41 -29.3
Proposals 1 2 0 -50.0 -- 6 7 -14.3
Health Care and Social Assistance 6 11 21 -45.5 -71.4 87 96 -9.4
Bankruptcies 5 11 17 -54.5 -70.6 61 74 -17.6
Proposals 1 0 4 -- -75.0 26 22 18.2
Arts, Entertainment and Recreation 7 2 6 250.0 16.7 75 80 -6.3
Bankruptcies 4 0 6 -- -33.3 50 69 -27.5
Proposals 3 2 0 50.0 -- 25 11 127.3
Accommodation and Food Services 42 47 63 -10.6 -33.3 656 650 0.9
Bankruptcies 29 35 53 -17.1 -45.3 520 480 8.3
Proposals 13 12 10 8.3 30.0 136 170 -20.0
Other Services (except Public Administration) 19 21 18 -9.5 5.6 206 219 -5.9
Bankruptcies 14 17 16 -17.6 -12.5 159 178 -10.7
Proposals 5 4 2 25.0 150.0 47 41 14.6
Public Administration 1 1 0 0.0 -- 4 1 300.0
Bankruptcies 1 1 0 0.0 -- 4 1 300.0
Proposals 0 0 0 -- -- 0 0 --
Total 329 363 404 -9.4 -18.6 4,133 4,201 -1.6
Bankruptcies 240 272 310 -11.8 -22.6 3,038 3,137 -3.2
Proposals 89 91 94 -2.2 -5.3 1,095 1,064 2.9
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