Insolvency Statistics in Canada—January 2016

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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
January
2016
December
2015
January
2015
Dec. 2015
to
Jan. 2016
Jan. 2015
to
Jan. 2016
01-31-2016 01-31-2015 % Change
Newfoundland and Labrador 151 120 108 25.8 39.8 1,892 1,573 20.3
Bankruptcies 110 104 92 5.8 19.6 1,537 1,366 12.5
Proposals 41 16 16 156.3 156.3 355 207 71.5
Prince Edward Island 54 59 43 -8.5 25.6 833 718 16.0
Bankruptcies 31 36 33 -13.9 -6.1 529 500 5.8
Proposals 23 23 10 0.0 130.0 304 218 39.4
Nova Scotia 342 414 368 -17.4 -7.1 5,299 5,370 -1.3
Bankruptcies 250 286 251 -12.6 -0.4 3,716 3,831 -3.0
Proposals 92 128 117 -28.1 -21.4 1,583 1,539 2.9
New Brunswick 278 324 261 -14.2 6.5 4,428 4,346 1.9
Bankruptcies 178 213 167 -16.4 6.6 2,884 3,041 -5.2
Proposals 100 111 94 -9.9 6.4 1,544 1,305 18.3
Quebec 3,325 3,337 3,558 -0.4 -6.5 45,709 43,998 3.9
Bankruptcies 1,832 2,008 1,921 -8.8 -4.6 26,134 25,961 0.7
Proposals 1,493 1,329 1,637 12.3 -8.8 19,575 18,037 8.5
Ontario 2,817 3,422 2,888 -17.7 -2.5 41,005 41,973 -2.3
Bankruptcies 1,129 1,626 1,273 -30.6 -11.3 18,698 19,927 -6.2
Proposals 1,688 1,796 1,615 -6.0 4.5 22,307 22,046 1.2
Manitoba 189 175 147 8.0 28.6 2,178 1,973 10.4
Bankruptcies 101 98 90 3.1 12.2 1,301 1,262 3.1
Proposals 88 77 57 14.3 54.4 877 711 23.3
Saskatchewan 200 219 143 -8.7 39.9 2,374 2,039 16.4
Bankruptcies 100 131 71 -23.7 40.8 1,269 1,154 10.0
Proposals 100 88 72 13.6 38.9 1,105 885 24.9
Alberta 904 830 652 8.9 38.7 10,196 8,430 20.9
Bankruptcies 395 383 287 3.1 37.6 4,483 3,908 14.7
Proposals 509 447 365 13.9 39.5 5,713 4,522 26.3
British Columbia 805 931 910 -13.5 -11.5 11,697 11,690 0.1
Bankruptcies 392 418 521 -6.2 -24.8 5,708 6,567 -13.1
Proposals 413 513 389 -19.5 6.2 5,989 5,123 16.9
Northwest Territories 1 10 1 -90.0 0.0 52 50 4.0
Bankruptcies 1 4 0 -75.0 -- 29 26 11.5
Proposals 0 6 1 -100.0 -100.0 23 24 -4.2
Yukon 5 3 3 66.7 66.7 37 38 -2.6
Bankruptcies 1 1 1 0.0 0.0 18 18 0.0
Proposals 4 2 2 100.0 100.0 19 20 -5.0
Nunavut 2 0 1 -- 100.0 6 6 0.0
Bankruptcies 2 0 0 -- -- 4 3 33.3
Proposals 0 0 1 -- -100.0 2 3 -33.3
Canada 9,073 9,844 9,083 -7.8 -0.1 125,706 122,204 2.9
Bankruptcies 4,522 5,308 4,707 -14.8 -3.9 66,310 67,564 -1.9
Proposals 4,551 4,536 4,376 0.3 4.0 59,396 54,640 8.7
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
January
2016
December
2015
January
2015
Dec. 2015
to
Jan. 2016
Jan. 2015
to
Jan. 2016
01-31-2016 01-31-2015 % Change
Newfoundland and Labrador 150 119 107 26.1 40.2 1,865 1,546 20.6
Bankruptcies 109 104 91 4.8 19.8 1,516 1,341 13.0
Proposals 41 15 16 173.3 156.3 349 205 70.2
Prince Edward Island 54 59 42 -8.5 28.6 818 699 17.0
Bankruptcies 31 36 33 -13.9 -6.1 517 487 6.2
Proposals 23 23 9 0.0 155.6 301 212 42.0
Nova Scotia 336 408 360 -17.6 -6.7 5,208 5,289 -1.5
Bankruptcies 244 280 246 -12.9 -0.8 3,646 3,777 -3.5
Proposals 92 128 114 -28.1 -19.3 1,562 1,512 3.3
New Brunswick 275 313 254 -12.1 8.3 4,352 4,257 2.2
Bankruptcies 177 202 164 -12.4 7.9 2,827 2,975 -5.0
Proposals 98 111 90 -11.7 8.9 1,525 1,282 19.0
Quebec 3,158 3,133 3,373 0.8 -6.4 43,490 41,641 4.4
Bankruptcies 1,701 1,853 1,791 -8.2 -5.0 24,449 24,268 0.7
Proposals 1,457 1,280 1,582 13.8 -7.9 19,041 17,373 9.6
Ontario 2,764 3,335 2,807 -17.1 -1.5 39,892 40,902 -2.5
Bankruptcies 1,087 1,557 1,209 -30.2 -10.1 17,836 19,101 -6.6
Proposals 1,677 1,778 1,598 -5.7 4.9 22,056 21,801 1.2
Manitoba 183 170 146 7.6 25.3 2,135 1,919 11.3
Bankruptcies 97 94 90 3.2 7.8 1,271 1,218 4.4
Proposals 86 76 56 13.2 53.6 864 701 23.3
Saskatchewan 189 214 135 -11.7 40.0 2,252 1,925 17.0
Bankruptcies 91 127 65 -28.3 40.0 1,181 1,083 9.0
Proposals 98 87 70 12.6 40.0 1,071 842 27.2
Alberta 895 821 640 9.0 39.8 10,065 8,285 21.5
Bankruptcies 390 375 278 4.0 40.3 4,392 3,801 15.5
Proposals 505 446 362 13.2 39.5 5,673 4,484 26.5
British Columbia 782 915 894 -14.5 -12.5 11,468 11,433 0.3
Bankruptcies 374 403 510 -7.2 -26.7 5,547 6,369 -12.9
Proposals 408 512 384 -20.3 6.3 5,921 5,064 16.9
Northwest Territories 1 10 1 -90.0 0.0 52 50 4.0
Bankruptcies 1 4 0 -75.0 -- 29 26 11.5
Proposals 0 6 1 -100.0 -100.0 23 24 -4.2
Yukon 5 3 3 66.7 66.7 37 37 0.0
Bankruptcies 1 1 1 0.0 0.0 18 18 0.0
Proposals 4 2 2 100.0 100.0 19 19 0.0
Nunavut 2 0 1 -- 100.0 6 5 20.0
Bankruptcies 2 0 0 -- -- 4 2 100.0
Proposals 0 0 1 -- -100.0 2 3 -33.3
Canada 8,794 9,500 8,763 -7.4 0.4 121,640 117,988 3.1
Bankruptcies 4,305 5,036 4,478 -14.5 -3.9 63,233 64,466 -1.9
Proposals 4,489 4,464 4,285 0.6 4.8 58,407 53,522 9.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
January
2016
December
2015
January
2015
Dec. 2015
to
Jan. 2016
Jan. 2015
to
Jan. 2016
01-31-2016 01-31-2015 % Change
Newfoundland and Labrador 1 1 1 0.0 0.0 27 27 0.0
Bankruptcies 1 0 1 -- 0.0 21 25 -16.0
Proposals 0 1 0 -100.0 -- 6 2 200.0
Prince Edward Island 0 0 1 -- -100.0 15 19 -21.1
Bankruptcies 0 0 0 -- -- 12 13 -7.7
Proposals 0 0 1 -- -100.0 3 6 -50.0
Nova Scotia 6 6 8 0.0 -25.0 91 81 12.3
Bankruptcies 6 6 5 0.0 20.0 70 54 29.6
Proposals 0 0 3 -- -100.0 21 27 -22.2
New Brunswick 3 11 7 -72.7 -57.1 76 89 -14.6
Bankruptcies 1 11 3 -90.9 -66.7 57 66 -13.6
Proposals 2 0 4 -- -50.0 19 23 -17.4
Quebec 167 204 185 -18.1 -9.7 2,219 2,357 -5.9
Bankruptcies 131 155 130 -15.5 0.8 1,685 1,693 -0.5
Proposals 36 49 55 -26.5 -34.5 534 664 -19.6
Ontario 53 87 81 -39.1 -34.6 1,113 1,071 3.9
Bankruptcies 42 69 64 -39.1 -34.4 862 826 4.4
Proposals 11 18 17 -38.9 -35.3 251 245 2.4
Manitoba 6 5 1 20.0 500.0 43 54 -20.4
Bankruptcies 4 4 0 0.0 -- 30 44 -31.8
Proposals 2 1 1 100.0 100.0 13 10 30.0
Saskatchewan 11 5 8 120.0 37.5 122 114 7.0
Bankruptcies 9 4 6 125.0 50.0 88 71 23.9
Proposals 2 1 2 100.0 0.0 34 43 -20.9
Alberta 9 9 12 0.0 -25.0 131 145 -9.7
Bankruptcies 5 8 9 -37.5 -44.4 91 107 -15.0
Proposals 4 1 3 300.0 33.3 40 38 5.3
British Columbia 23 16 16 43.8 43.8 229 257 -10.9
Bankruptcies 18 15 11 20.0 63.6 161 198 -18.7
Proposals 5 1 5 400.0 0.0 68 59 15.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 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 279 344 320 -18.9 -12.8 4,066 4,216 -3.6
Bankruptcies 217 272 229 -20.2 -5.2 3,077 3,098 -0.7
Proposals 62 72 91 -13.9 -31.9 989 1,118 -11.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
January
2016
December
2015
January
2015
Dec. 2015
to
Jan. 2016
Jan. 2015
to
Jan. 2016
01-31-2016 01-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 5 5 7 0.0 -28.6 82 86 -4.7
Bankruptcies 3 4 7 -25.0 -57.1 39 59 -33.9
Proposals 2 1 0 100.0 -- 43 27 59.3
Mining and Oil and Gas Extraction 3 6 3 -50.0 0.0 44 40 10.0
Bankruptcies 3 6 1 -50.0 200.0 33 19 73.7
Proposals 0 0 2 -- -100.0 11 21 -47.6
Utilities 0 1 0 -100.0 -- 13 12 8.3
Bankruptcies 0 0 0 -- -- 10 8 25.0
Proposals 0 1 0 -100.0 -- 3 4 -25.0
Construction 51 56 52 -8.9 -1.9 774 706 9.6
Bankruptcies 40 47 38 -14.9 5.3 574 518 10.8
Proposals 11 9 14 22.2 -21.4 200 188 6.4
Manufacturing 29 34 16 -14.7 81.3 393 370 6.2
Bankruptcies 22 25 9 -12.0 144.4 280 261 7.3
Proposals 7 9 7 -22.2 0.0 113 109 3.7
Wholesale Trade 9 18 24 -50.0 -62.5 193 229 -15.7
Bankruptcies 7 14 13 -50.0 -46.2 148 152 -2.6
Proposals 2 4 11 -50.0 -81.8 45 77 -41.6
Retail Trade 41 44 45 -6.8 -8.9 498 498 0.0
Bankruptcies 30 33 29 -9.1 3.4 386 366 5.5
Proposals 11 11 16 0.0 -31.3 112 132 -15.2
Transportation and Warehousing 12 14 21 -14.3 -42.9 210 279 -24.7
Bankruptcies 11 11 15 0.0 -26.7 155 189 -18.0
Proposals 1 3 6 -66.7 -83.3 55 90 -38.9
Information and Cultural Industries 4 8 2 -50.0 100.0 74 68 8.8
Bankruptcies 3 7 0 -57.1 -- 57 47 21.3
Proposals 1 1 2 0.0 -50.0 17 21 -19.0
Finance and Insurance 6 6 12 0.0 -50.0 68 89 -23.6
Bankruptcies 5 6 7 -16.7 -28.6 53 68 -22.1
Proposals 1 0 5 -- -80.0 15 21 -28.6
Real Estate and Rental and Leasing 9 13 7 -30.8 28.6 143 132 8.3
Bankruptcies 8 10 6 -20.0 33.3 116 101 14.9
Proposals 1 3 1 -66.7 0.0 27 31 -12.9
Professional, Scientific and Technical Services 19 22 26 -13.6 -26.9 280 319 -12.2
Bankruptcies 17 15 20 13.3 -15.0 221 253 -12.6
Proposals 2 7 6 -71.4 -66.7 59 66 -10.6
Management of Companies and Enterprises 8 6 4 33.3 100.0 61 58 5.2
Bankruptcies 7 4 3 75.0 133.3 44 45 -2.2
Proposals 1 2 1 -50.0 0.0 17 13 30.8
Administrative and Support, Waste Management and Remediation Services 15 17 17 -11.8 -11.8 194 232 -16.4
Bankruptcies 11 12 10 -8.3 10.0 149 162 -8.0
Proposals 4 5 7 -20.0 -42.9 45 70 -35.7
Educational Services 0 5 3 -100.0 -100.0 34 53 -35.8
Bankruptcies 0 4 3 -100.0 -100.0 27 45 -40.0
Proposals 0 1 0 -100.0 -- 7 8 -12.5
Health Care and Social Assistance 7 2 4 250.0 75.0 78 102 -23.5
Bankruptcies 4 2 4 100.0 0.0 56 76 -26.3
Proposals 3 0 0 -- -- 22 26 -15.4
Arts, Entertainment and Recreation 6 3 3 100.0 100.0 74 86 -14.0
Bankruptcies 6 1 3 500.0 100.0 55 70 -21.4
Proposals 0 2 0 -100.0 -- 19 16 18.8
Accommodation and Food Services 49 67 51 -26.9 -3.9 656 647 1.4
Bankruptcies 36 58 43 -37.9 -16.3 519 489 6.1
Proposals 13 9 8 44.4 62.5 137 158 -13.3
Other Services (except Public Administration) 5 17 23 -70.6 -78.3 192 209 -8.1
Bankruptcies 3 13 18 -76.9 -83.3 150 169 -11.2
Proposals 2 4 5 -50.0 -60.0 42 40 5.0
Public Administration 1 0 0 -- -- 5 1 400.0
Bankruptcies 1 0 0 -- -- 5 1 400.0
Proposals 0 0 0 -- -- 0 0 --
Total 279 344 320 -18.9 -12.8 4,066 4,216 -3.6
Bankruptcies 217 272 229 -20.2 -5.2 3,077 3,098 -0.7
Proposals 62 72 91 -13.9 -31.9 989 1,118 -11.5
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