Insolvency Statistics in Canada—February 2016

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
February
2016
January
2016
February
2015
Jan. 2016
to
Feb. 2016
Feb. 2015
to
Feb. 2016
02-29-2016 02-28-2015 % Change
Newfoundland and Labrador 188 151 147 24.5 27.9 1,933 1,592 21.4
Bankruptcies 126 110 123 14.5 2.4 1,540 1,373 12.2
Proposals 62 41 24 51.2 158.3 393 219 79.5
Prince Edward Island 72 54 62 33.3 16.1 843 732 15.2
Bankruptcies 47 31 42 51.6 11.9 534 513 4.1
Proposals 25 23 20 8.7 25.0 309 219 41.1
Nova Scotia 433 342 398 26.6 8.8 5,334 5,334 0.0
Bankruptcies 304 250 255 21.6 19.2 3,765 3,799 -0.9
Proposals 129 92 143 40.2 -9.8 1,569 1,535 2.2
New Brunswick 339 278 313 21.9 8.3 4,454 4,326 3.0
Bankruptcies 212 178 206 19.1 2.9 2,890 3,011 -4.0
Proposals 127 100 107 27.0 18.7 1,564 1,315 18.9
Quebec 3,965 3,325 3,884 19.2 2.1 45,790 44,212 3.6
Bankruptcies 2,228 1,832 2,070 21.6 7.6 26,292 25,843 1.7
Proposals 1,737 1,493 1,814 16.3 -4.2 19,498 18,369 6.1
Ontario 3,462 2,817 3,227 22.9 7.3 41,240 41,775 -1.3
Bankruptcies 1,437 1,129 1,467 27.3 -2.0 18,668 19,828 -5.9
Proposals 2,025 1,688 1,760 20.0 15.1 22,572 21,947 2.8
Manitoba 200 189 161 5.8 24.2 2,217 2,004 10.6
Bankruptcies 102 101 85 1.0 20.0 1,318 1,263 4.4
Proposals 98 88 76 11.4 28.9 899 741 21.3
Saskatchewan 214 200 171 7.0 25.1 2,417 2,056 17.6
Bankruptcies 102 100 82 2.0 24.4 1,289 1,146 12.5
Proposals 112 100 89 12.0 25.8 1,128 910 24.0
Alberta 1,099 904 744 21.6 47.7 10,551 8,495 24.2
Bankruptcies 491 395 336 24.3 46.1 4,638 3,931 18.0
Proposals 608 509 408 19.4 49.0 5,913 4,564 29.6
British Columbia 1,049 805 964 30.3 8.8 11,782 11,733 0.4
Bankruptcies 469 392 524 19.6 -10.5 5,653 6,550 -13.7
Proposals 580 413 440 40.4 31.8 6,129 5,183 18.3
Northwest Territories 3 1 2 200.0 50.0 53 48 10.4
Bankruptcies 1 1 1 0.0 0.0 29 25 16.0
Proposals 2 0 1 -- 100.0 24 23 4.3
Yukon 5 5 4 0.0 25.0 38 39 -2.6
Bankruptcies 3 1 4 200.0 -25.0 17 21 -19.0
Proposals 2 4 0 -50.0 -- 21 18 16.7
Nunavut 3 2 0 50.0 -- 9 5 80.0
Bankruptcies 0 2 0 -100.0 -- 4 3 33.3
Proposals 3 0 0 -- -- 5 2 150.0
Canada 11,032 9,073 10,077 21.6 9.5 126,661 122,351 3.5
Bankruptcies 5,522 4,522 5,195 22.1 6.3 66,637 67,306 -1.0
Proposals 5,510 4,551 4,882 21.1 12.9 60,024 55,045 9.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
February
2016
January
2016
February
2015
Jan. 2016
to
Feb. 2016
Feb. 2015
to
Feb. 2016
02-29-2016 02-28-2015 % Change
Newfoundland and Labrador 186 150 144 24.0 29.2 1,907 1,563 22.0
Bankruptcies 125 109 121 14.7 3.3 1,520 1,347 12.8
Proposals 61 41 23 48.8 165.2 387 216 79.2
Prince Edward Island 72 54 61 33.3 18.0 829 712 16.4
Bankruptcies 47 31 41 51.6 14.6 523 499 4.8
Proposals 25 23 20 8.7 25.0 306 213 43.7
Nova Scotia 430 336 392 28.0 9.7 5,246 5,254 -0.2
Bankruptcies 301 244 253 23.4 19.0 3,694 3,746 -1.4
Proposals 129 92 139 40.2 -7.2 1,552 1,508 2.9
New Brunswick 333 275 306 21.1 8.8 4,379 4,236 3.4
Bankruptcies 207 177 203 16.9 2.0 2,831 2,945 -3.9
Proposals 126 98 103 28.6 22.3 1,548 1,291 19.9
Quebec 3,728 3,158 3,687 18.0 1.1 43,531 41,863 4.0
Bankruptcies 2,046 1,701 1,926 20.3 6.2 24,569 24,155 1.7
Proposals 1,682 1,457 1,761 15.4 -4.5 18,962 17,708 7.1
Ontario 3,378 2,764 3,110 22.2 8.6 40,160 40,670 -1.3
Bankruptcies 1,379 1,087 1,380 26.9 -0.1 17,835 18,970 -6.0
Proposals 1,999 1,677 1,730 19.2 15.5 22,325 21,700 2.9
Manitoba 199 183 160 8.7 24.4 2,174 1,954 11.3
Bankruptcies 102 97 85 5.2 20.0 1,288 1,224 5.2
Proposals 97 86 75 12.8 29.3 886 730 21.4
Saskatchewan 207 189 163 9.5 27.0 2,296 1,943 18.2
Bankruptcies 97 91 78 6.6 24.4 1,200 1,074 11.7
Proposals 110 98 85 12.2 29.4 1,096 869 26.1
Alberta 1,086 895 737 21.3 47.4 10,414 8,359 24.6
Bankruptcies 483 390 332 23.8 45.5 4,543 3,831 18.6
Proposals 603 505 405 19.4 48.9 5,871 4,528 29.7
British Columbia 1,027 782 948 31.3 8.3 11,547 11,484 0.5
Bankruptcies 458 374 514 22.5 -10.9 5,491 6,359 -13.6
Proposals 569 408 434 39.5 31.1 6,056 5,125 18.2
Northwest Territories 3 1 2 200.0 50.0 53 48 10.4
Bankruptcies 1 1 1 0.0 0.0 29 25 16.0
Proposals 2 0 1 -- 100.0 24 23 4.3
Yukon 5 5 4 0.0 25.0 38 38 0.0
Bankruptcies 3 1 4 200.0 -25.0 17 21 -19.0
Proposals 2 4 0 -50.0 -- 21 17 23.5
Nunavut 3 2 0 50.0 -- 9 4 125.0
Bankruptcies 0 2 0 -100.0 -- 4 2 100.0
Proposals 3 0 0 -- -- 5 2 150.0
Canada 10,657 8,794 9,714 21.2 9.7 122,583 118,128 3.8
Bankruptcies 5,249 4,305 4,938 21.9 6.3 63,544 64,198 -1.0
Proposals 5,408 4,489 4,776 20.5 13.2 59,039 53,930 9.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
February
2016
January
2016
February
2015
Jan. 2016
to
Feb. 2016
Feb. 2015
to
Feb. 2016
02-29-2016 02-28-2015 % Change
Newfoundland and Labrador 2 1 3 100.0 -33.3 26 29 -10.3
Bankruptcies 1 1 2 0.0 -50.0 20 26 -23.1
Proposals 1 0 1 -- 0.0 6 3 100.0
Prince Edward Island 0 0 1 -- -100.0 14 20 -30.0
Bankruptcies 0 0 1 -- -100.0 11 14 -21.4
Proposals 0 0 0 -- -- 3 6 -50.0
Nova Scotia 3 6 6 -50.0 -50.0 88 80 10.0
Bankruptcies 3 6 2 -50.0 50.0 71 53 34.0
Proposals 0 0 4 -- -100.0 17 27 -37.0
New Brunswick 6 3 7 100.0 -14.3 75 90 -16.7
Bankruptcies 5 1 3 400.0 66.7 59 66 -10.6
Proposals 1 2 4 -50.0 -75.0 16 24 -33.3
Quebec 237 167 197 41.9 20.3 2,259 2,349 -3.8
Bankruptcies 182 131 144 38.9 26.4 1,723 1,688 2.1
Proposals 55 36 53 52.8 3.8 536 661 -18.9
Ontario 84 53 117 58.5 -28.2 1,080 1,105 -2.3
Bankruptcies 58 42 87 38.1 -33.3 833 858 -2.9
Proposals 26 11 30 136.4 -13.3 247 247 0.0
Manitoba 1 6 1 -83.3 0.0 43 50 -14.0
Bankruptcies 0 4 0 -100.0 -- 30 39 -23.1
Proposals 1 2 1 -50.0 0.0 13 11 18.2
Saskatchewan 7 11 8 -36.4 -12.5 121 113 7.1
Bankruptcies 5 9 4 -44.4 25.0 89 72 23.6
Proposals 2 2 4 0.0 -50.0 32 41 -22.0
Alberta 13 9 7 44.4 85.7 137 136 0.7
Bankruptcies 8 5 4 60.0 100.0 95 100 -5.0
Proposals 5 4 3 25.0 66.7 42 36 16.7
British Columbia 22 23 16 -4.3 37.5 235 249 -5.6
Bankruptcies 11 18 10 -38.9 10.0 162 191 -15.2
Proposals 11 5 6 120.0 83.3 73 58 25.9
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 375 279 363 34.4 3.3 4,078 4,223 -3.4
Bankruptcies 273 217 257 25.8 6.2 3,093 3,108 -0.5
Proposals 102 62 106 64.5 -3.8 985 1,115 -11.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
February
2016
January
2016
February
2015
Jan. 2016
to
Feb. 2016
Feb. 2015
to
Feb. 2016
02-29-2016 02-28-2015 % Change
Agriculture, Forestry, Fishing and Hunting 12 5 8 140.0 50.0 86 89 -3.4
Bankruptcies 11 3 1 266.7 1,000.0 49 56 -12.5
Proposals 1 2 7 -50.0 -85.7 37 33 12.1
Mining and Oil and Gas Extraction 5 3 4 66.7 25.0 45 41 9.8
Bankruptcies 3 3 1 0.0 200.0 35 17 105.9
Proposals 2 0 3 -- -33.3 10 24 -58.3
Utilities 2 0 1 -- 100.0 14 13 7.7
Bankruptcies 0 0 1 -- -100.0 9 9 0.0
Proposals 2 0 0 -- -- 5 4 25.0
Construction 60 51 70 17.6 -14.3 764 707 8.1
Bankruptcies 48 40 45 20.0 6.7 577 518 11.4
Proposals 12 11 25 9.1 -52.0 187 189 -1.1
Manufacturing 31 29 44 6.9 -29.5 380 380 0.0
Bankruptcies 24 22 28 9.1 -14.3 276 268 3.0
Proposals 7 7 16 0.0 -56.3 104 112 -7.1
Wholesale Trade 14 9 17 55.6 -17.6 190 232 -18.1
Bankruptcies 7 7 10 0.0 -30.0 145 154 -5.8
Proposals 7 2 7 250.0 0.0 45 78 -42.3
Retail Trade 59 41 50 43.9 18.0 507 508 -0.2
Bankruptcies 40 30 39 33.3 2.6 387 375 3.2
Proposals 19 11 11 72.7 72.7 120 133 -9.8
Transportation and Warehousing 17 12 16 41.7 6.3 211 272 -22.4
Bankruptcies 13 11 11 18.2 18.2 157 186 -15.6
Proposals 4 1 5 300.0 -20.0 54 86 -37.2
Information and Cultural Industries 10 4 10 150.0 0.0 74 74 0.0
Bankruptcies 9 3 8 200.0 12.5 58 51 13.7
Proposals 1 1 2 0.0 -50.0 16 23 -30.4
Finance and Insurance 4 6 6 -33.3 -33.3 66 87 -24.1
Bankruptcies 3 5 5 -40.0 -40.0 51 67 -23.9
Proposals 1 1 1 0.0 0.0 15 20 -25.0
Real Estate and Rental and Leasing 13 9 10 44.4 30.0 146 133 9.8
Bankruptcies 6 8 5 -25.0 20.0 117 98 19.4
Proposals 7 1 5 600.0 40.0 29 35 -17.1
Professional, Scientific and Technical Services 19 19 20 0.0 -5.0 279 310 -10.0
Bankruptcies 13 17 17 -23.5 -23.5 217 247 -12.1
Proposals 6 2 3 200.0 100.0 62 63 -1.6
Management of Companies and Enterprises 6 8 2 -25.0 200.0 65 58 12.1
Bankruptcies 6 7 1 -14.3 500.0 49 44 11.4
Proposals 0 1 1 -100.0 -100.0 16 14 14.3
Administrative and Support, Waste Management and Remediation Services 18 15 9 20.0 100.0 203 223 -9.0
Bankruptcies 12 11 8 9.1 50.0 153 159 -3.8
Proposals 6 4 1 50.0 500.0 50 64 -21.9
Educational Services 5 0 6 -- -16.7 33 54 -38.9
Bankruptcies 4 0 6 -- -33.3 25 46 -45.7
Proposals 1 0 0 -- -- 8 8 0.0
Health Care and Social Assistance 4 7 3 -42.9 33.3 79 94 -16.0
Bankruptcies 1 4 2 -75.0 -50.0 55 72 -23.6
Proposals 3 3 1 0.0 200.0 24 22 9.1
Arts, Entertainment and Recreation 9 6 8 50.0 12.5 75 81 -7.4
Bankruptcies 9 6 7 50.0 28.6 57 66 -13.6
Proposals 0 0 1 -- -100.0 18 15 20.0
Accommodation and Food Services 69 49 56 40.8 23.2 669 655 2.1
Bankruptcies 47 36 48 30.6 -2.1 518 506 2.4
Proposals 22 13 8 69.2 175.0 151 149 1.3
Other Services (except Public Administration) 17 5 23 240.0 -26.1 186 211 -11.8
Bankruptcies 16 3 14 433.3 14.3 152 168 -9.5
Proposals 1 2 9 -50.0 -88.9 34 43 -20.9
Public Administration 1 1 0 0.0 -- 6 1 500.0
Bankruptcies 1 1 0 0.0 -- 6 1 500.0
Proposals 0 0 0 -- -- 0 0 --
Total 375 279 363 34.4 3.3 4,078 4,223 -3.4
Bankruptcies 273 217 257 25.8 6.2 3,093 3,108 -0.5
Proposals 102 62 106 64.5 -3.8 985 1,115 -11.7
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