Insolvency Statistics in Canada—March 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
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 209 188 143 11.2 46.2 1,999 1,586 26.0
Bankruptcies 131 126 119 4.0 10.1 1,552 1,362 14.0
Proposals 78 62 24 25.8 225.0 447 224 99.6
Prince Edward Island 76 72 78 5.6 -2.6 841 747 12.6
Bankruptcies 46 47 46 -2.1 0.0 534 519 2.9
Proposals 30 25 32 20.0 -6.3 307 228 34.6
Nova Scotia 519 433 461 19.9 12.6 5,392 5,393 0.0
Bankruptcies 374 304 306 23.0 22.2 3,833 3,823 0.3
Proposals 145 129 155 12.4 -6.5 1,559 1,570 -0.7
New Brunswick 356 339 382 5.0 -6.8 4,428 4,391 0.8
Bankruptcies 255 212 258 20.3 -1.2 2,887 3,055 -5.5
Proposals 101 127 124 -20.5 -18.5 1,541 1,336 15.3
Quebec 4,136 3,965 4,309 4.3 -4.0 45,617 44,806 1.8
Bankruptcies 2,285 2,228 2,379 2.6 -4.0 26,198 26,095 0.4
Proposals 1,851 1,737 1,930 6.6 -4.1 19,419 18,711 3.8
Ontario 3,866 3,462 4,061 11.7 -4.8 41,045 41,881 -2.0
Bankruptcies 1,710 1,437 1,814 19.0 -5.7 18,564 19,780 -6.1
Proposals 2,156 2,025 2,247 6.5 -4.0 22,481 22,101 1.7
Manitoba 228 200 194 14.0 17.5 2,251 2,039 10.4
Bankruptcies 123 102 118 20.6 4.2 1,323 1,283 3.1
Proposals 105 98 76 7.1 38.2 928 756 22.8
Saskatchewan 271 214 212 26.6 27.8 2,476 2,067 19.8
Bankruptcies 144 102 111 41.2 29.7 1,322 1,130 17.0
Proposals 127 112 101 13.4 25.7 1,154 937 23.2
Alberta 1,231 1,099 858 12.0 43.5 10,924 8,594 27.1
Bankruptcies 523 491 394 6.5 32.7 4,767 3,954 20.6
Proposals 708 608 464 16.4 52.6 6,157 4,640 32.7
British Columbia 1,098 1,049 1,079 4.7 1.8 11,801 11,791 0.1
Bankruptcies 497 469 490 6.0 1.4 5,660 6,436 -12.1
Proposals 601 580 589 3.6 2.0 6,141 5,355 14.7
Northwest Territories 6 3 5 100.0 20.0 54 43 25.6
Bankruptcies 3 1 3 200.0 0.0 29 23 26.1
Proposals 3 2 2 50.0 50.0 25 20 25.0
Yukon 5 5 4 0.0 25.0 39 42 -7.1
Bankruptcies 3 3 2 0.0 50.0 18 22 -18.2
Proposals 2 2 2 0.0 0.0 21 20 5.0
Nunavut 0 3 0 -100.0 -- 9 5 80.0
Bankruptcies 0 0 0 -- -- 4 3 33.3
Proposals 0 3 0 -100.0 -- 5 2 150.0
Canada 12,001 11,032 11,786 8.8 1.8 126,876 123,385 2.8
Bankruptcies 6,094 5,522 6,040 10.4 0.9 66,691 67,485 -1.2
Proposals 5,907 5,510 5,746 7.2 2.8 60,185 55,900 7.7
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 207 186 141 11.3 46.8 1,973 1,559 26.6
Bankruptcies 130 125 118 4.0 10.2 1,532 1,338 14.5
Proposals 77 61 23 26.2 234.8 441 221 99.5
Prince Edward Island 75 72 76 4.2 -1.3 828 728 13.7
Bankruptcies 45 47 45 -4.3 0.0 523 505 3.6
Proposals 30 25 31 20.0 -3.2 305 223 36.8
Nova Scotia 515 430 456 19.8 12.9 5,305 5,314 -0.2
Bankruptcies 370 301 304 22.9 21.7 3,760 3,770 -0.3
Proposals 145 129 152 12.4 -4.6 1,545 1,544 0.1
New Brunswick 348 333 373 4.5 -6.7 4,354 4,307 1.1
Bankruptcies 249 207 252 20.3 -1.2 2,828 2,995 -5.6
Proposals 99 126 121 -21.4 -18.2 1,526 1,312 16.3
Quebec 3,911 3,728 4,069 4.9 -3.9 43,373 42,412 2.3
Bankruptcies 2,106 2,046 2,187 2.9 -3.7 24,488 24,368 0.5
Proposals 1,805 1,682 1,882 7.3 -4.1 18,885 18,044 4.7
Ontario 3,778 3,378 3,948 11.8 -4.3 39,990 40,754 -1.9
Bankruptcies 1,642 1,379 1,726 19.1 -4.9 17,751 18,899 -6.1
Proposals 2,136 1,999 2,222 6.9 -3.9 22,239 21,855 1.8
Manitoba 226 199 190 13.6 18.9 2,210 1,992 10.9
Bankruptcies 122 102 115 19.6 6.1 1,295 1,247 3.8
Proposals 104 97 75 7.2 38.7 915 745 22.8
Saskatchewan 253 207 207 22.2 22.2 2,342 1,968 19.0
Bankruptcies 130 97 108 34.0 20.4 1,222 1,070 14.2
Proposals 123 110 99 11.8 24.2 1,120 898 24.7
Alberta 1,216 1,086 847 12.0 43.6 10,783 8,457 27.5
Bankruptcies 515 483 387 6.6 33.1 4,671 3,853 21.2
Proposals 701 603 460 16.3 52.4 6,112 4,604 32.8
British Columbia 1,085 1,027 1,065 5.6 1.9 11,567 11,559 0.1
Bankruptcies 486 458 484 6.1 0.4 5,493 6,257 -12.2
Proposals 599 569 581 5.3 3.1 6,074 5,302 14.6
Northwest Territories 6 3 5 100.0 20.0 54 43 25.6
Bankruptcies 3 1 3 200.0 0.0 29 23 26.1
Proposals 3 2 2 50.0 50.0 25 20 25.0
Yukon 5 5 4 0.0 25.0 39 41 -4.9
Bankruptcies 3 3 2 0.0 50.0 18 22 -18.2
Proposals 2 2 2 0.0 0.0 21 19 10.5
Nunavut 0 3 0 -100.0 -- 9 4 125.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 0 3 0 -100.0 -- 5 2 150.0
Canada 11,625 10,657 11,381 9.1 2.1 122,827 119,138 3.1
Bankruptcies 5,801 5,249 5,731 10.5 1.2 63,614 64,349 -1.1
Proposals 5,824 5,408 5,650 7.7 3.1 59,213 54,789 8.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 2 2 2 0.0 0.0 26 27 -3.7
Bankruptcies 1 1 1 0.0 0.0 20 24 -16.7
Proposals 1 1 1 0.0 0.0 6 3 100.0
Prince Edward Island 1 0 2 -- -50.0 13 19 -31.6
Bankruptcies 1 0 1 -- 0.0 11 14 -21.4
Proposals 0 0 1 -- -100.0 2 5 -60.0
Nova Scotia 4 3 5 33.3 -20.0 87 79 10.1
Bankruptcies 4 3 2 33.3 100.0 73 53 37.7
Proposals 0 0 3 -- -100.0 14 26 -46.2
New Brunswick 8 6 9 33.3 -11.1 74 84 -11.9
Bankruptcies 6 5 6 20.0 0.0 59 60 -1.7
Proposals 2 1 3 100.0 -33.3 15 24 -37.5
Quebec 225 237 240 -5.1 -6.3 2,244 2,394 -6.3
Bankruptcies 179 182 192 -1.6 -6.8 1,710 1,727 -1.0
Proposals 46 55 48 -16.4 -4.2 534 667 -19.9
Ontario 88 84 113 4.8 -22.1 1,055 1,127 -6.4
Bankruptcies 68 58 88 17.2 -22.7 813 881 -7.7
Proposals 20 26 25 -23.1 -20.0 242 246 -1.6
Manitoba 2 1 4 100.0 -50.0 41 47 -12.8
Bankruptcies 1 0 3 -- -66.7 28 36 -22.2
Proposals 1 1 1 0.0 0.0 13 11 18.2
Saskatchewan 18 7 5 157.1 260.0 134 99 35.4
Bankruptcies 14 5 3 180.0 366.7 100 60 66.7
Proposals 4 2 2 100.0 100.0 34 39 -12.8
Alberta 15 13 11 15.4 36.4 141 137 2.9
Bankruptcies 8 8 7 0.0 14.3 96 101 -5.0
Proposals 7 5 4 40.0 75.0 45 36 25.0
British Columbia 13 22 14 -40.9 -7.1 234 232 0.9
Bankruptcies 11 11 6 0.0 83.3 167 179 -6.7
Proposals 2 11 8 -81.8 -75.0 67 53 26.4
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 376 375 405 0.3 -7.2 4,049 4,247 -4.7
Bankruptcies 293 273 309 7.3 -5.2 3,077 3,136 -1.9
Proposals 83 102 96 -18.6 -13.5 972 1,111 -12.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-2016 03-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 9 12 10 -25.0 -10.0 85 88 -3.4
Bankruptcies 8 11 2 -27.3 300.0 55 50 10.0
Proposals 1 1 8 0.0 -87.5 30 38 -21.1
Mining and Oil and Gas Extraction 2 5 2 -60.0 0.0 45 35 28.6
Bankruptcies 1 3 2 -66.7 -50.0 34 16 112.5
Proposals 1 2 0 -50.0 -- 11 19 -42.1
Utilities 0 2 0 -100.0 -- 14 10 40.0
Bankruptcies 0 0 0 -- -- 9 6 50.0
Proposals 0 2 0 -100.0 -- 5 4 25.0
Construction 74 60 73 23.3 1.4 765 726 5.4
Bankruptcies 56 48 58 16.7 -3.4 575 532 8.1
Proposals 18 12 15 50.0 20.0 190 194 -2.1
Manufacturing 29 31 36 -6.5 -19.4 373 384 -2.9
Bankruptcies 21 24 25 -12.5 -16.0 272 271 0.4
Proposals 8 7 11 14.3 -27.3 101 113 -10.6
Wholesale Trade 19 14 23 35.7 -17.4 186 236 -21.2
Bankruptcies 17 7 20 142.9 -15.0 142 166 -14.5
Proposals 2 7 3 -71.4 -33.3 44 70 -37.1
Retail Trade 45 59 52 -23.7 -13.5 500 512 -2.3
Bankruptcies 32 40 36 -20.0 -11.1 383 375 2.1
Proposals 13 19 16 -31.6 -18.8 117 137 -14.6
Transportation and Warehousing 15 17 28 -11.8 -46.4 198 270 -26.7
Bankruptcies 13 13 24 0.0 -45.8 146 186 -21.5
Proposals 2 4 4 -50.0 -50.0 52 84 -38.1
Information and Cultural Industries 12 10 5 20.0 140.0 81 72 12.5
Bankruptcies 11 9 4 22.2 175.0 65 52 25.0
Proposals 1 1 1 0.0 0.0 16 20 -20.0
Finance and Insurance 9 4 4 125.0 125.0 71 79 -10.1
Bankruptcies 6 3 4 100.0 50.0 53 64 -17.2
Proposals 3 1 0 200.0 -- 18 15 20.0
Real Estate and Rental and Leasing 10 13 17 -23.1 -41.2 139 137 1.5
Bankruptcies 8 6 16 33.3 -50.0 109 105 3.8
Proposals 2 7 1 -71.4 100.0 30 32 -6.3
Professional, Scientific and Technical Services 32 19 18 68.4 77.8 293 299 -2.0
Bankruptcies 27 13 14 107.7 92.9 230 239 -3.8
Proposals 5 6 4 -16.7 25.0 63 60 5.0
Management of Companies and Enterprises 5 6 7 -16.7 -28.6 63 63 0.0
Bankruptcies 5 6 7 -16.7 -28.6 47 49 -4.1
Proposals 0 0 0 -- -- 16 14 14.3
Administrative and Support, Waste Management and Remediation Services 14 18 22 -22.2 -36.4 195 230 -15.2
Bankruptcies 8 12 17 -33.3 -52.9 144 167 -13.8
Proposals 6 6 5 0.0 20.0 51 63 -19.0
Educational Services 4 5 4 -20.0 0.0 33 52 -36.5
Bankruptcies 2 4 3 -50.0 -33.3 24 44 -45.5
Proposals 2 1 1 100.0 100.0 9 8 12.5
Health Care and Social Assistance 7 4 7 75.0 0.0 79 92 -14.1
Bankruptcies 6 1 7 500.0 -14.3 54 71 -23.9
Proposals 1 3 0 -66.7 -- 25 21 19.0
Arts, Entertainment and Recreation 8 9 13 -11.1 -38.5 70 84 -16.7
Bankruptcies 8 9 7 -11.1 14.3 58 63 -7.9
Proposals 0 0 6 -- -100.0 12 21 -42.9
Accommodation and Food Services 54 69 62 -21.7 -12.9 661 665 -0.6
Bankruptcies 42 47 45 -10.6 -6.7 515 508 1.4
Proposals 12 22 17 -45.5 -29.4 146 157 -7.0
Other Services (except Public Administration) 28 17 22 64.7 27.3 192 212 -9.4
Bankruptcies 22 16 18 37.5 22.2 156 171 -8.8
Proposals 6 1 4 500.0 50.0 36 41 -12.2
Public Administration 0 1 0 -100.0 -- 6 1 500.0
Bankruptcies 0 1 0 -100.0 -- 6 1 500.0
Proposals 0 0 0 -- -- 0 0 --
Total 376 375 405 0.3 -7.2 4,049 4,247 -4.7
Bankruptcies 293 273 309 7.3 -5.2 3,077 3,136 -1.9
Proposals 83 102 96 -18.6 -13.5 972 1,111 -12.5
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