Insolvency Statistics in Canada—December 2015

Tables

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
December
2015
November
2015
December
2014
Nov. 2015
to
Dec. 2015
Dec. 2014
to
Dec. 2015
12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 120 161 92 -25.5 30.4 1,849 1,575 17.4
Bankruptcies 104 110 74 -5.5 40.5 1,519 1,375 10.5
Proposals 16 51 18 -68.6 -11.1 330 200 65.0
Prince Edward Island 59 81 55 -27.2 7.3 822 739 11.2
Bankruptcies 36 58 27 -37.9 33.3 531 515 3.1
Proposals 23 23 28 0.0 -17.9 291 224 29.9
Nova Scotia 414 456 416 -9.2 -0.5 5,325 5,304 0.4
Bankruptcies 286 313 299 -8.6 -4.3 3,717 3,778 -1.6
Proposals 128 143 117 -10.5 9.4 1,608 1,526 5.4
New Brunswick 324 346 357 -6.4 -9.2 4,411 4,395 0.4
Bankruptcies 213 221 254 -3.6 -16.1 2,873 3,089 -7.0
Proposals 111 125 103 -11.2 7.8 1,538 1,306 17.8
Quebec 3,337 3,793 3,276 -12.0 1.9 45,942 43,891 4.7
Bankruptcies 2,008 2,135 1,871 -5.9 7.3 26,223 26,137 0.3
Proposals 1,329 1,658 1,405 -19.8 -5.4 19,719 17,754 11.1
Ontario 3,422 3,277 3,250 4.4 5.3 41,076 42,198 -2.7
Bankruptcies 1,626 1,493 1,703 8.9 -4.5 18,842 20,069 -6.1
Proposals 1,796 1,784 1,547 0.7 16.1 22,234 22,129 0.5
Manitoba 175 199 179 -12.1 -2.2 2,136 1,948 9.7
Bankruptcies 98 104 128 -5.8 -23.4 1,290 1,248 3.4
Proposals 77 95 51 -18.9 51.0 846 700 20.9
Saskatchewan 219 195 169 12.3 29.6 2,317 2,062 12.4
Bankruptcies 131 114 99 14.9 32.3 1,240 1,182 4.9
Proposals 88 81 70 8.6 25.7 1,077 880 22.4
Alberta 830 918 666 -9.6 24.6 9,944 8,422 18.1
Bankruptcies 383 370 271 3.5 41.3 4,375 3,964 10.4
Proposals 447 548 395 -18.4 13.2 5,569 4,458 24.9
British Columbia 931 980 891 -5.0 4.5 11,802 11,639 1.4
Bankruptcies 418 482 488 -13.3 -14.3 5,837 6,545 -10.8
Proposals 513 498 403 3.0 27.3 5,965 5,094 17.1
Northwest Territories 10 8 7 25.0 42.9 52 49 6.1
Bankruptcies 4 5 5 -20.0 -20.0 28 26 7.7
Proposals 6 3 2 100.0 200.0 24 23 4.3
Yukon 3 1 4 200.0 -25.0 35 40 -12.5
Bankruptcies 1 1 1 0.0 0.0 18 22 -18.2
Proposals 2 0 3 -- -33.3 17 18 -5.6
Nunavut 0 2 1 -100.0 -100.0 5 7 -28.6
Bankruptcies 0 1 1 -100.0 -100.0 2 5 -60.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 9,844 10,417 9,363 -5.5 5.1 125,716 122,269 2.8
Bankruptcies 5,308 5,407 5,221 -1.8 1.7 66,495 67,955 -2.1
Proposals 4,536 5,010 4,142 -9.5 9.5 59,221 54,314 9.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
December
2015
November
2015
December
2014
Nov. 2015
to
Dec. 2015
Dec. 2014
to
Dec. 2015
12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 119 156 90 -23.7 32.2 1,822 1,545 17.9
Bankruptcies 104 106 72 -1.9 44.4 1,498 1,348 11.1
Proposals 15 50 18 -70.0 -16.7 324 197 64.5
Prince Edward Island 59 80 53 -26.3 11.3 806 721 11.8
Bankruptcies 36 57 25 -36.8 44.0 519 502 3.4
Proposals 23 23 28 0.0 -17.9 287 219 31.1
Nova Scotia 408 449 409 -9.1 -0.2 5,232 5,227 0.1
Bankruptcies 280 306 294 -8.5 -4.8 3,648 3,726 -2.1
Proposals 128 143 115 -10.5 11.3 1,584 1,501 5.5
New Brunswick 313 343 349 -8.7 -10.3 4,331 4,308 0.5
Bankruptcies 202 218 247 -7.3 -18.2 2,814 3,021 -6.9
Proposals 111 125 102 -11.2 8.8 1,517 1,287 17.9
Quebec 3,133 3,600 3,055 -13.0 2.6 43,705 41,554 5.2
Bankruptcies 1,853 1,979 1,742 -6.4 6.4 24,539 24,447 0.4
Proposals 1,280 1,621 1,313 -21.0 -2.5 19,166 17,107 12.0
Ontario 3,335 3,188 3,169 4.6 5.2 39,935 41,108 -2.9
Bankruptcies 1,557 1,418 1,645 9.8 -5.3 17,958 19,234 -6.6
Proposals 1,778 1,770 1,524 0.5 16.7 21,977 21,874 0.5
Manitoba 170 197 175 -13.7 -2.9 2,098 1,891 10.9
Bankruptcies 94 102 125 -7.8 -24.8 1,264 1,200 5.3
Proposals 76 95 50 -20.0 52.0 834 691 20.7
Saskatchewan 214 181 159 18.2 34.6 2,198 1,938 13.4
Bankruptcies 127 102 91 24.5 39.6 1,155 1,105 4.5
Proposals 87 79 68 10.1 27.9 1,043 833 25.2
Alberta 821 906 654 -9.4 25.5 9,810 8,281 18.5
Bankruptcies 375 362 262 3.6 43.1 4,280 3,859 10.9
Proposals 446 544 392 -18.0 13.8 5,530 4,422 25.1
British Columbia 915 948 866 -3.5 5.7 11,580 11,383 1.7
Bankruptcies 403 467 470 -13.7 -14.3 5,683 6,345 -10.4
Proposals 512 481 396 6.4 29.3 5,897 5,038 17.1
Northwest Territories 10 8 7 25.0 42.9 52 49 6.1
Bankruptcies 4 5 5 -20.0 -20.0 28 26 7.7
Proposals 6 3 2 100.0 200.0 24 23 4.3
Yukon 3 1 3 200.0 0.0 35 39 -10.3
Bankruptcies 1 1 1 0.0 0.0 18 22 -18.2
Proposals 2 0 2 -- 0.0 17 17 0.0
Nunavut 0 2 1 -100.0 -100.0 5 6 -16.7
Bankruptcies 0 1 1 -100.0 -100.0 2 4 -50.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Canada 9,500 10,059 8,990 -5.6 5.7 121,609 118,050 3.0
Bankruptcies 5,036 5,124 4,980 -1.7 1.1 63,406 64,839 -2.2
Proposals 4,464 4,935 4,010 -9.5 11.3 58,203 53,211 9.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
December
2015
November
2015
December
2014
Nov. 2015
to
Dec. 2015
Dec. 2014
to
Dec. 2015
12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 1 5 2 -80.0 -50.0 27 30 -10.0
Bankruptcies 0 4 2 -100.0 -100.0 21 27 -22.2
Proposals 1 1 0 0.0 -- 6 3 100.0
Prince Edward Island 0 1 2 -100.0 -100.0 16 18 -11.1
Bankruptcies 0 1 2 -100.0 -100.0 12 13 -7.7
Proposals 0 0 0 -- -- 4 5 -20.0
Nova Scotia 6 7 7 -14.3 -14.3 93 77 20.8
Bankruptcies 6 7 5 -14.3 20.0 69 52 32.7
Proposals 0 0 2 -- -100.0 24 25 -4.0
New Brunswick 11 3 8 266.7 37.5 80 87 -8.0
Bankruptcies 11 3 7 266.7 57.1 59 68 -13.2
Proposals 0 0 1 -- -100.0 21 19 10.5
Quebec 204 193 221 5.7 -7.7 2,237 2,337 -4.3
Bankruptcies 155 156 129 -0.6 20.2 1,684 1,690 -0.4
Proposals 49 37 92 32.4 -46.7 553 647 -14.5
Ontario 87 89 81 -2.2 7.4 1,141 1,090 4.7
Bankruptcies 69 75 58 -8.0 19.0 884 835 5.9
Proposals 18 14 23 28.6 -21.7 257 255 0.8
Manitoba 5 2 4 150.0 25.0 38 57 -33.3
Bankruptcies 4 2 3 100.0 33.3 26 48 -45.8
Proposals 1 0 1 -- 0.0 12 9 33.3
Saskatchewan 5 14 10 -64.3 -50.0 119 124 -4.0
Bankruptcies 4 12 8 -66.7 -50.0 85 77 10.4
Proposals 1 2 2 -50.0 -50.0 34 47 -27.7
Alberta 9 12 12 -25.0 -25.0 134 141 -5.0
Bankruptcies 8 8 9 0.0 -11.1 95 105 -9.5
Proposals 1 4 3 -75.0 -66.7 39 36 8.3
British Columbia 16 32 25 -50.0 -36.0 222 256 -13.3
Bankruptcies 15 15 18 0.0 -16.7 154 200 -23.0
Proposals 1 17 7 -94.1 -85.7 68 56 21.4
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 1 -- -100.0 0 1 -100.0
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 344 358 373 -3.9 -7.8 4,107 4,219 -2.7
Bankruptcies 272 283 241 -3.9 12.9 3,089 3,116 -0.9
Proposals 72 75 132 -4.0 -45.5 1,018 1,103 -7.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
December
2015
November
2015
December
2014
Nov. 2015
to
Dec. 2015
Dec. 2014
to
Dec. 2015
12-31-2015 12-31-2014 % Change
Agriculture, Forestry, Fishing and Hunting 5 5 6 0.0 -16.7 84 88 -4.5
Bankruptcies 4 5 2 -20.0 100.0 43 60 -28.3
Proposals 1 0 4 -- -75.0 41 28 46.4
Mining and Oil and Gas Extraction 6 5 3 20.0 100.0 44 40 10.0
Bankruptcies 6 4 1 50.0 500.0 31 20 55.0
Proposals 0 1 2 -100.0 -100.0 13 20 -35.0
Utilities 1 1 2 0.0 -50.0 13 13 0.0
Bankruptcies 0 1 0 -100.0 -- 10 9 11.1
Proposals 1 0 2 -- -50.0 3 4 -25.0
Construction 56 71 55 -21.1 1.8 775 719 7.8
Bankruptcies 47 54 42 -13.0 11.9 572 530 7.9
Proposals 9 17 13 -47.1 -30.8 203 189 7.4
Manufacturing 34 32 34 6.3 0.0 380 386 -1.6
Bankruptcies 25 23 28 8.7 -10.7 267 276 -3.3
Proposals 9 9 6 0.0 50.0 113 110 2.7
Wholesale Trade 18 16 27 12.5 -33.3 208 226 -8.0
Bankruptcies 14 13 20 7.7 -30.0 154 155 -0.6
Proposals 4 3 7 33.3 -42.9 54 71 -23.9
Retail Trade 44 42 33 4.8 33.3 502 498 0.8
Bankruptcies 33 33 24 0.0 37.5 385 376 2.4
Proposals 11 9 9 22.2 22.2 117 122 -4.1
Transportation and Warehousing 14 21 46 -33.3 -69.6 219 273 -19.8
Bankruptcies 11 16 9 -31.3 22.2 159 185 -14.1
Proposals 3 5 37 -40.0 -91.9 60 88 -31.8
Information and Cultural Industries 8 7 5 14.3 60.0 72 71 1.4
Bankruptcies 7 5 4 40.0 75.0 54 50 8.0
Proposals 1 2 1 -50.0 0.0 18 21 -14.3
Finance and Insurance 6 7 8 -14.3 -25.0 74 80 -7.5
Bankruptcies 6 6 8 0.0 -25.0 55 64 -14.1
Proposals 0 1 0 -100.0 -- 19 16 18.8
Real Estate and Rental and Leasing 13 17 7 -23.5 85.7 141 134 5.2
Bankruptcies 10 12 6 -16.7 66.7 114 101 12.9
Proposals 3 5 1 -40.0 200.0 27 33 -18.2
Professional, Scientific and Technical Services 22 24 31 -8.3 -29.0 287 308 -6.8
Bankruptcies 15 21 25 -28.6 -40.0 224 242 -7.4
Proposals 7 3 6 133.3 16.7 63 66 -4.5
Management of Companies and Enterprises 6 5 7 20.0 -14.3 57 59 -3.4
Bankruptcies 4 5 5 -20.0 -20.0 40 47 -14.9
Proposals 2 0 2 -- 0.0 17 12 41.7
Administrative and Support, Waste Management and Remediation Services 17 21 26 -19.0 -34.6 196 223 -12.1
Bankruptcies 12 14 12 -14.3 0.0 148 157 -5.7
Proposals 5 7 14 -28.6 -64.3 48 66 -27.3
Educational Services 5 3 3 66.7 66.7 37 52 -28.8
Bankruptcies 4 2 2 100.0 100.0 30 44 -31.8
Proposals 1 1 1 0.0 0.0 7 8 -12.5
Health Care and Social Assistance 2 6 10 -66.7 -80.0 75 99 -24.2
Bankruptcies 2 5 5 -60.0 -60.0 56 73 -23.3
Proposals 0 1 5 -100.0 -100.0 19 26 -26.9
Arts, Entertainment and Recreation 3 8 5 -62.5 -40.0 71 84 -15.5
Bankruptcies 1 8 4 -87.5 -75.0 52 68 -23.5
Proposals 2 0 1 -- 100.0 19 16 18.8
Accommodation and Food Services 67 54 49 24.1 36.7 658 660 -0.3
Bankruptcies 58 45 34 28.9 70.6 526 493 6.7
Proposals 9 9 15 0.0 -40.0 132 167 -21.0
Other Services (except Public Administration) 17 13 16 30.8 6.3 210 205 2.4
Bankruptcies 13 11 10 18.2 30.0 165 165 0.0
Proposals 4 2 6 100.0 -33.3 45 40 12.5
Public Administration 0 0 0 -- -- 4 1 300.0
Bankruptcies 0 0 0 -- -- 4 1 300.0
Proposals 0 0 0 -- -- 0 0 --
Total 344 358 373 -3.9 -7.8 4,107 4,219 -2.7
Bankruptcies 272 283 241 -3.9 12.9 3,089 3,116 -0.9
Proposals 72 75 132 -4.0 -45.5 1,018 1,103 -7.7
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