Insolvency Statistics in Canada—April 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
April
2016
March
2016
April
2015
March 2016
to
April 2016
April 2015
to
April 2016
04-30-2016 04-30-2015 % Change
Newfoundland and Labrador 216 209 180 3.3 20.0 2,035 1,620 25.6
Bankruptcies 135 131 152 3.1 -11.2 1,535 1,380 11.2
Proposals 81 78 28 3.8 189.3 500 240 108.3
Prince Edward Island 71 76 83 -6.6 -14.5 829 775 7.0
Bankruptcies 52 46 50 13.0 4.0 536 526 1.9
Proposals 19 30 33 -36.7 -42.4 293 249 17.7
Nova Scotia 527 519 495 1.5 6.5 5,424 5,388 0.7
Bankruptcies 382 374 383 2.1 -0.3 3,832 3,847 -0.4
Proposals 145 145 112 0.0 29.5 1,592 1,541 3.3
New Brunswick 418 356 394 17.4 6.1 4,452 4,355 2.2
Bankruptcies 289 255 250 13.3 15.6 2,926 3,001 -2.5
Proposals 129 101 144 27.7 -10.4 1,526 1,354 12.7
Quebec 4,249 4,136 4,275 2.7 -0.6 45,591 45,128 1.0
Bankruptcies 2,526 2,285 2,475 10.5 2.1 26,249 26,139 0.4
Proposals 1,723 1,851 1,800 -6.9 -4.3 19,342 18,989 1.9
Ontario 3,755 3,866 3,841 -2.9 -2.2 40,959 41,851 -2.1
Bankruptcies 1,678 1,710 1,812 -1.9 -7.4 18,430 19,746 -6.7
Proposals 2,077 2,156 2,029 -3.7 2.4 22,529 22,105 1.9
Manitoba 243 228 165 6.6 47.3 2,329 2,028 14.8
Bankruptcies 146 123 120 18.7 21.7 1,349 1,287 4.8
Proposals 97 105 45 -7.6 115.6 980 741 32.3
Saskatchewan 274 271 199 1.1 37.7 2,551 2,070 23.2
Bankruptcies 162 144 118 12.5 37.3 1,366 1,139 19.9
Proposals 112 127 81 -11.8 38.3 1,185 931 27.3
Alberta 1,178 1,231 781 -4.3 50.8 11,321 8,585 31.9
Bankruptcies 506 523 376 -3.3 34.6 4,897 3,954 23.8
Proposals 672 708 405 -5.1 65.9 6,424 4,631 38.7
British Columbia 972 1,098 989 -11.5 -1.7 11,784 11,772 0.1
Bankruptcies 438 497 522 -11.9 -16.1 5,576 6,333 -12.0
Proposals 534 601 467 -11.1 14.3 6,208 5,439 14.1
Northwest Territories 6 6 2 0.0 200.0 58 43 34.9
Bankruptcies 5 3 1 66.7 400.0 33 24 37.5
Proposals 1 3 1 -66.7 0.0 25 19 31.6
Yukon 5 5 1 0.0 400.0 43 37 16.2
Bankruptcies 4 3 0 33.3 -- 22 19 15.8
Proposals 1 2 1 -50.0 0.0 21 18 16.7
Nunavut 1 0 0 -- -- 10 5 100.0
Bankruptcies 1 0 0 -- -- 5 3 66.7
Proposals 0 0 0 -- -- 5 2 150.0
Canada 11,915 12,001 11,405 -0.7 4.5 127,386 123,657 3.0
Bankruptcies 6,324 6,094 6,259 3.8 1.0 66,756 67,398 -1.0
Proposals 5,591 5,907 5,146 -5.3 8.6 60,630 56,259 7.8
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
April
2016
March
2016
April
2015
March 2016
to
April 2016
April 2015
to
April 2016
04-30-2016 04-30-2015 % Change
Newfoundland and Labrador 214 207 178 3.4 20.2 2,009 1,592 26.2
Bankruptcies 133 130 150 2.3 -11.3 1,515 1,355 11.8
Proposals 81 77 28 5.2 189.3 494 237 108.4
Prince Edward Island 67 75 80 -10.7 -16.3 815 753 8.2
Bankruptcies 50 45 47 11.1 6.4 526 509 3.3
Proposals 17 30 33 -43.3 -48.5 289 244 18.4
Nova Scotia 519 515 486 0.8 6.8 5,338 5,307 0.6
Bankruptcies 376 370 376 1.6 0.0 3,760 3,792 -0.8
Proposals 143 145 110 -1.4 30.0 1,578 1,515 4.2
New Brunswick 413 348 390 18.7 5.9 4,377 4,274 2.4
Bankruptcies 286 249 248 14.9 15.3 2,866 2,943 -2.6
Proposals 127 99 142 28.3 -10.6 1,511 1,331 13.5
Quebec 4,047 3,911 4,066 3.5 -0.5 43,354 42,762 1.4
Bankruptcies 2,376 2,106 2,324 12.8 2.2 24,540 24,441 0.4
Proposals 1,671 1,805 1,742 -7.4 -4.1 18,814 18,321 2.7
Ontario 3,657 3,778 3,724 -3.2 -1.8 39,923 40,703 -1.9
Bankruptcies 1,624 1,642 1,724 -1.1 -5.8 17,651 18,846 -6.3
Proposals 2,033 2,136 2,000 -4.8 1.7 22,272 21,857 1.9
Manitoba 237 226 162 4.9 46.3 2,285 1,987 15.0
Bankruptcies 140 122 117 14.8 19.7 1,318 1,257 4.9
Proposals 97 104 45 -6.7 115.6 967 730 32.5
Saskatchewan 263 253 190 4.0 38.4 2,415 1,972 22.5
Bankruptcies 156 130 111 20.0 40.5 1,267 1,078 17.5
Proposals 107 123 79 -13.0 35.4 1,148 894 28.4
Alberta 1,172 1,216 767 -3.6 52.8 11,188 8,444 32.5
Bankruptcies 500 515 368 -2.9 35.9 4,803 3,854 24.6
Proposals 672 701 399 -4.1 68.4 6,385 4,590 39.1
British Columbia 960 1,085 974 -11.5 -1.4 11,553 11,542 0.1
Bankruptcies 427 486 510 -12.1 -16.3 5,410 6,156 -12.1
Proposals 533 599 464 -11.0 14.9 6,143 5,386 14.1
Northwest Territories 6 6 2 0.0 200.0 58 43 34.9
Bankruptcies 5 3 1 66.7 400.0 33 24 37.5
Proposals 1 3 1 -66.7 0.0 25 19 31.6
Yukon 5 5 1 0.0 400.0 43 36 19.4
Bankruptcies 4 3 0 33.3 -- 22 19 15.8
Proposals 1 2 1 -50.0 0.0 21 17 23.5
Nunavut 0 0 0 -- -- 9 4 125.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 0 0 0 -- -- 5 2 150.0
Canada 11,560 11,625 11,020 -0.6 4.9 123,367 119,419 3.3
Bankruptcies 6,077 5,801 5,976 4.8 1.7 63,715 64,276 -0.9
Proposals 5,483 5,824 5,044 -5.9 8.7 59,652 55,143 8.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
April
2016
March
2016
April
2015
March 2016
to
April 2016
April 2015
to
April 2016
04-30-2016 04-30-2015 % Change
Newfoundland and Labrador 2 2 2 0.0 0.0 26 28 -7.1
Bankruptcies 2 1 2 100.0 0.0 20 25 -20.0
Proposals 0 1 0 -100.0 -- 6 3 100.0
Prince Edward Island 4 1 3 300.0 33.3 14 22 -36.4
Bankruptcies 2 1 3 100.0 -33.3 10 17 -41.2
Proposals 2 0 0 -- -- 4 5 -20.0
Nova Scotia 8 4 9 100.0 -11.1 86 81 6.2
Bankruptcies 6 4 7 50.0 -14.3 72 55 30.9
Proposals 2 0 2 -- 0.0 14 26 -46.2
New Brunswick 5 8 4 -37.5 25.0 75 81 -7.4
Bankruptcies 3 6 2 -50.0 50.0 60 58 3.4
Proposals 2 2 2 0.0 0.0 15 23 -34.8
Quebec 202 225 209 -10.2 -3.3 2,237 2,366 -5.5
Bankruptcies 150 179 151 -16.2 -0.7 1,709 1,698 0.6
Proposals 52 46 58 13.0 -10.3 528 668 -21.0
Ontario 98 88 117 11.4 -16.2 1,036 1,148 -9.8
Bankruptcies 54 68 88 -20.6 -38.6 779 900 -13.4
Proposals 44 20 29 120.0 51.7 257 248 3.6
Manitoba 6 2 3 200.0 100.0 44 41 7.3
Bankruptcies 6 1 3 500.0 100.0 31 30 3.3
Proposals 0 1 0 -100.0 -- 13 11 18.2
Saskatchewan 11 18 9 -38.9 22.2 136 98 38.8
Bankruptcies 6 14 7 -57.1 -14.3 99 61 62.3
Proposals 5 4 2 25.0 150.0 37 37 0.0
Alberta 6 15 14 -60.0 -57.1 133 141 -5.7
Bankruptcies 6 8 8 -25.0 -25.0 94 100 -6.0
Proposals 0 7 6 -100.0 -100.0 39 41 -4.9
British Columbia 12 13 15 -7.7 -20.0 231 230 0.4
Bankruptcies 11 11 12 0.0 -8.3 166 177 -6.2
Proposals 1 2 3 -50.0 -66.7 65 53 22.6
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 1 0 0 -- -- 1 1 0.0
Bankruptcies 1 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Canada 355 376 385 -5.6 -7.8 4,019 4,238 -5.2
Bankruptcies 247 293 283 -15.7 -12.7 3,041 3,122 -2.6
Proposals 108 83 102 30.1 5.9 978 1,116 -12.4
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
April
2016
March
2016
April
2015
March 2016
to
April 2016
April 2015
to
April 2016
04-30-2016 04-30-2015 % Change
Agriculture, Forestry, Fishing and Hunting 9 9 10 0.0 -10.0 84 93 -9.7
Bankruptcies 6 8 6 -25.0 0.0 55 53 3.8
Proposals 3 1 4 200.0 -25.0 29 40 -27.5
Mining and Oil and Gas Extraction 4 2 7 100.0 -42.9 42 36 16.7
Bankruptcies 1 1 5 0.0 -80.0 30 17 76.5
Proposals 3 1 2 200.0 50.0 12 19 -36.8
Utilities 0 0 2 -- -100.0 12 12 0.0
Bankruptcies 0 0 2 -- -100.0 7 8 -12.5
Proposals 0 0 0 -- -- 5 4 25.0
Construction 76 74 82 2.7 -7.3 759 739 2.7
Bankruptcies 53 56 56 -5.4 -5.4 572 539 6.1
Proposals 23 18 26 27.8 -11.5 187 200 -6.5
Manufacturing 23 29 41 -20.7 -43.9 355 397 -10.6
Bankruptcies 17 21 27 -19.0 -37.0 262 277 -5.4
Proposals 6 8 14 -25.0 -57.1 93 120 -22.5
Wholesale Trade 16 19 19 -15.8 -15.8 183 229 -20.1
Bankruptcies 12 17 16 -29.4 -25.0 138 164 -15.9
Proposals 4 2 3 100.0 33.3 45 65 -30.8
Retail Trade 50 45 41 11.1 22.0 509 514 -1.0
Bankruptcies 37 32 35 15.6 5.7 385 380 1.3
Proposals 13 13 6 0.0 116.7 124 134 -7.5
Transportation and Warehousing 24 15 21 60.0 14.3 201 264 -23.9
Bankruptcies 17 13 14 30.8 21.4 149 180 -17.2
Proposals 7 2 7 250.0 0.0 52 84 -38.1
Information and Cultural Industries 1 12 9 -91.7 -88.9 73 74 -1.4
Bankruptcies 1 11 5 -90.9 -80.0 61 52 17.3
Proposals 0 1 4 -100.0 -100.0 12 22 -45.5
Finance and Insurance 3 9 7 -66.7 -57.1 67 82 -18.3
Bankruptcies 2 6 5 -66.7 -60.0 50 66 -24.2
Proposals 1 3 2 -66.7 -50.0 17 16 6.3
Real Estate and Rental and Leasing 23 10 10 130.0 130.0 152 128 18.8
Bankruptcies 6 8 7 -25.0 -14.3 108 98 10.2
Proposals 17 2 3 750.0 466.7 44 30 46.7
Professional, Scientific and Technical Services 34 32 28 6.3 21.4 299 297 0.7
Bankruptcies 26 27 24 -3.7 8.3 232 236 -1.7
Proposals 8 5 4 60.0 100.0 67 61 9.8
Management of Companies and Enterprises 8 5 8 60.0 0.0 63 65 -3.1
Bankruptcies 3 5 2 -40.0 50.0 48 46 4.3
Proposals 5 0 6 -- -16.7 15 19 -21.1
Administrative and Support, Waste Management and Remediation Services 10 14 16 -28.6 -37.5 189 220 -14.1
Bankruptcies 9 8 15 12.5 -40.0 138 163 -15.3
Proposals 1 6 1 -83.3 0.0 51 57 -10.5
Educational Services 0 4 4 -100.0 -100.0 29 49 -40.8
Bankruptcies 0 2 3 -100.0 -100.0 21 40 -47.5
Proposals 0 2 1 -100.0 -100.0 8 9 -11.1
Health Care and Social Assistance 5 7 7 -28.6 -28.6 77 92 -16.3
Bankruptcies 3 6 4 -50.0 -25.0 53 69 -23.2
Proposals 2 1 3 100.0 -33.3 24 23 4.3
Arts, Entertainment and Recreation 7 8 6 -12.5 16.7 71 83 -14.5
Bankruptcies 6 8 4 -25.0 50.0 60 61 -1.6
Proposals 1 0 2 -- -50.0 11 22 -50.0
Accommodation and Food Services 44 54 52 -18.5 -15.4 653 661 -1.2
Bankruptcies 33 42 41 -21.4 -19.5 507 513 -1.2
Proposals 11 12 11 -8.3 0.0 146 148 -1.4
Other Services (except Public Administration) 18 28 15 -35.7 20.0 195 203 -3.9
Bankruptcies 15 22 12 -31.8 25.0 159 160 -0.6
Proposals 3 6 3 -50.0 0.0 36 43 -16.3
Public Administration 0 0 0 -- -- 6 0 --
Bankruptcies 0 0 0 -- -- 6 0 --
Proposals 0 0 0 -- -- 0 0 --
Total 355 376 385 -5.6 -7.8 4,019 4,238 -5.2
Bankruptcies 247 293 283 -15.7 -12.7 3,041 3,122 -2.6
Proposals 108 83 102 30.1 5.9 978 1,116 -12.4
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