Insolvency Statistics in Canada—May 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
May 2016 April 2016 May 2015 April 2016
to
May 2016
May 2015
to
May 2016
05-31-2016 05-31-2015 % Change
Newfoundland and Labrador 234 216 153 8.3 52.9 2,116 1,620 30.6
Bankruptcies 158 135 132 17.0 19.7 1,561 1,376 13.4
Proposals 76 81 21 -6.2 261.9 555 244 127.5
Prince Edward Island 64 71 71 -9.9 -9.9 822 779 5.5
Bankruptcies 37 52 51 -28.8 -27.5 522 529 -1.3
Proposals 27 19 20 42.1 35.0 300 250 20.0
Nova Scotia 581 527 424 10.2 37.0 5,581 5,288 5.5
Bankruptcies 427 382 306 11.8 39.5 3,953 3,759 5.2
Proposals 154 145 118 6.2 30.5 1,628 1,529 6.5
New Brunswick 448 418 435 7.2 3.0 4,465 4,374 2.1
Bankruptcies 309 289 270 6.9 14.4 2,965 2,973 -0.3
Proposals 139 129 165 7.8 -15.8 1,500 1,401 7.1
Quebec 4,068 4,249 3,849 -4.3 5.7 45,810 45,056 1.7
Bankruptcies 2,375 2,526 2,281 -6.0 4.1 26,343 26,027 1.2
Proposals 1,693 1,723 1,568 -1.7 8.0 19,467 19,029 2.3
Ontario 3,683 3,755 3,468 -1.9 6.2 41,174 41,513 -0.8
Bankruptcies 1,667 1,678 1,648 -0.7 1.2 18,449 19,511 -5.4
Proposals 2,016 2,077 1,820 -2.9 10.8 22,725 22,002 3.3
Manitoba 243 243 182 0.0 33.5 2,390 2,038 17.3
Bankruptcies 133 146 122 -8.9 9.0 1,360 1,304 4.3
Proposals 110 97 60 13.4 83.3 1,030 734 40.3
Saskatchewan 258 274 189 -5.8 36.5 2,620 2,080 26.0
Bankruptcies 124 162 102 -23.5 21.6 1,388 1,129 22.9
Proposals 134 112 87 19.6 54.0 1,232 951 29.5
Alberta 1,162 1,178 852 -1.4 36.4 11,631 8,652 34.4
Bankruptcies 487 506 348 -3.8 39.9 5,036 3,920 28.5
Proposals 675 672 504 0.4 33.9 6,595 4,732 39.4
British Columbia 1,026 972 978 5.6 4.9 11,832 11,632 1.7
Bankruptcies 460 438 487 5.0 -5.5 5,549 6,165 -10.0
Proposals 566 534 491 6.0 15.3 6,283 5,467 14.9
Northwest Territories 3 6 2 -50.0 50.0 59 41 43.9
Bankruptcies 1 5 1 -80.0 0.0 33 22 50.0
Proposals 2 1 1 100.0 100.0 26 19 36.8
Yukon 4 5 2 -20.0 100.0 45 35 28.6
Bankruptcies 3 4 0 -25.0 -- 25 17 47.1
Proposals 1 1 2 0.0 -50.0 20 18 11.1
Nunavut 1 1 0 0.0 -- 11 5 120.0
Bankruptcies 0 1 0 -100.0 -- 5 3 66.7
Proposals 1 0 0 -- -- 6 2 200.0
Canada 11,775 11,915 10,605 -1.2 11.0 128,556 123,113 4.4
Bankruptcies 6,181 6,324 5,748 -2.3 7.5 67,189 66,735 0.7
Proposals 5,594 5,591 4,857 0.1 15.2 61,367 56,378 8.8
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2016 April 2016 May 2015 April 2016
to
May 2016
May 2015
to
May 2016
05-31-2016 05-31-2015 % Change
Newfoundland and Labrador 230 214 152 7.5 51.3 2,087 1,594 30.9
Bankruptcies 156 133 131 17.3 19.1 1,540 1,352 13.9
Proposals 74 81 21 -8.6 252.4 547 242 126.0
Prince Edward Island 62 67 69 -7.5 -10.1 808 756 6.9
Bankruptcies 37 50 49 -26.0 -24.5 514 511 0.6
Proposals 25 17 20 47.1 25.0 294 245 20.0
Nova Scotia 573 519 414 10.4 38.4 5,497 5,209 5.5
Bankruptcies 421 376 297 12.0 41.8 3,884 3,705 4.8
Proposals 152 143 117 6.3 29.9 1,613 1,504 7.2
New Brunswick 441 413 427 6.8 3.3 4,391 4,291 2.3
Bankruptcies 303 286 263 5.9 15.2 2,906 2,913 -0.2
Proposals 138 127 164 8.7 -15.9 1,485 1,378 7.8
Quebec 3,888 4,047 3,685 -3.9 5.5 43,557 42,724 1.9
Bankruptcies 2,245 2,376 2,158 -5.5 4.0 24,627 24,343 1.2
Proposals 1,643 1,671 1,527 -1.7 7.6 18,930 18,381 3.0
Ontario 3,591 3,657 3,374 -1.8 6.4 40,140 40,364 -0.6
Bankruptcies 1,596 1,624 1,575 -1.7 1.3 17,672 18,613 -5.1
Proposals 1,995 2,033 1,799 -1.9 10.9 22,468 21,751 3.3
Manitoba 236 237 180 -0.4 31.1 2,341 2,000 17.1
Bankruptcies 130 140 122 -7.1 6.6 1,326 1,277 3.8
Proposals 106 97 58 9.3 82.8 1,015 723 40.4
Saskatchewan 248 263 184 -5.7 34.8 2,479 1,987 24.8
Bankruptcies 117 156 99 -25.0 18.2 1,285 1,072 19.9
Proposals 131 107 85 22.4 54.1 1,194 915 30.5
Alberta 1,152 1,172 840 -1.7 37.1 11,500 8,516 35.0
Bankruptcies 480 500 338 -4.0 42.0 4,945 3,823 29.3
Proposals 672 672 502 0.0 33.9 6,555 4,693 39.7
British Columbia 1,008 960 966 5.0 4.3 11,595 11,416 1.6
Bankruptcies 444 427 480 4.0 -7.5 5,374 6,002 -10.5
Proposals 564 533 486 5.8 16.0 6,221 5,414 14.9
Northwest Territories 3 6 2 -50.0 50.0 59 41 43.9
Bankruptcies 1 5 1 -80.0 0.0 33 22 50.0
Proposals 2 1 1 100.0 100.0 26 19 36.8
Yukon 4 5 2 -20.0 100.0 45 34 32.4
Bankruptcies 3 4 0 -25.0 -- 25 17 47.1
Proposals 1 1 2 0.0 -50.0 20 17 17.6
Nunavut 1 0 0 -- -- 10 4 150.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 1 0 0 -- -- 6 2 200.0
Canada 11,437 11,560 10,295 -1.1 11.1 124,509 118,936 4.7
Bankruptcies 5,933 6,077 5,513 -2.4 7.6 64,135 63,652 0.8
Proposals 5,504 5,483 4,782 0.4 15.1 60,374 55,284 9.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2016 April 2016 May 2015 April 2016
to
May 2016
May 2015
to
May 2016
05-31-2016 05-31-2015 % Change
Newfoundland and Labrador 4 2 1 100.0 300.0 29 26 11.5
Bankruptcies 2 2 1 0.0 100.0 21 24 -12.5
Proposals 2 0 0 -- -- 8 2 300.0
Prince Edward Island 2 4 2 -50.0 0.0 14 23 -39.1
Bankruptcies 0 2 2 -100.0 -100.0 8 18 -55.6
Proposals 2 2 0 0.0 -- 6 5 20.0
Nova Scotia 8 8 10 0.0 -20.0 84 79 6.3
Bankruptcies 6 6 9 0.0 -33.3 69 54 27.8
Proposals 2 2 1 0.0 100.0 15 25 -40.0
New Brunswick 7 5 8 40.0 -12.5 74 83 -10.8
Bankruptcies 6 3 7 100.0 -14.3 59 60 -1.7
Proposals 1 2 1 -50.0 0.0 15 23 -34.8
Quebec 180 202 164 -10.9 9.8 2,253 2,332 -3.4
Bankruptcies 130 150 123 -13.3 5.7 1,716 1,684 1.9
Proposals 50 52 41 -3.8 22.0 537 648 -17.1
Ontario 92 98 94 -6.1 -2.1 1,034 1,149 -10.0
Bankruptcies 71 54 73 31.5 -2.7 777 898 -13.5
Proposals 21 44 21 -52.3 0.0 25 7 251 2.4
Manitoba 7 6 2 16.7 250.0 49 38 28.9
Bankruptcies 3 6 0 -50.0 -- 34 27 25.9
Proposals 4 0 2 -- 100.0 15 11 36.4
Saskatchewan 10 11 5 -9.1 100.0 141 93 51.6
Bankruptcies 7 6 3 16.7 133.3 103 57 80.7
Proposals 3 5 2 -40.0 50.0 38 36 5.6
Alberta 10 6 12 66.7 -16.7 131 136 -3.7
Bankruptcies 7 6 10 16.7 -30.0 91 97 -6.2
Proposals 3 0 2 -- 50.0 40 39 2.6
British Columbia 18 12 12 50.0 50.0 237 216 9.7
Bankruptcies 16 11 7 45.5 128.6 175 163 7.4
Proposals 2 1 5 100.0 -60.0 62 53 17.0
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 1 0 -100.0 -- 1 1 0.0
Bankruptcies 0 1 0 -100.0 -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Canada 338 355 310 -4.8 9.0 4,047 4,177 -3.1
Bankruptcies 248 247 235 0.4 5.5 3,054 3,083 -0.9
Proposals 90 108 75 -16.7 20.0 993 1,094 -9.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
May 2016 April 2016 May 2015 April 2016
to
May 2016
May 2015
to
May 2016
05-31-2016 05-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 2 9 6 -77.8 -66.7 80 93 -14.0
Bankruptcies 0 6 2 -100.0 -100.0 53 49 8.2
Proposals 2 3 4 -33.3 -50.0 27 44 -38.6
Mining and Oil and Gas Extraction 2 4 2 -50.0 0.0 42 37 13.5
Bankruptcies 1 1 2 0.0 -50.0 29 18 61.1
Proposals 1 3 0 -66.7 -- 13 19 -31.6
Utilities 0 0 1 -- -100.0 11 12 -8.3
Bankruptcies 0 0 1 -- -100.0 6 9 -33.3
Proposals 0 0 0 -- -- 5 3 66.7
Construction 62 76 58 -18.4 6.9 763 721 5.8
Bankruptcies 44 53 38 -17.0 15.8 578 521 10.9
Proposals 18 23 20 -21.7 -10.0 185 200 -7.5
Manufacturing 30 23 30 30.4 0.0 355 389 -8.7
Bankruptcies 23 17 23 35.3 0.0 262 273 -4.0
Proposals 7 6 7 16.7 0.0 93 116 -19.8
Wholesale Trade 14 16 17 -12.5 -17.6 180 224 -19.6
Bankruptcies 13 12 14 8.3 -7.1 137 160 -14.4
Proposals 1 4 3 -75.0 -66.7 43 64 -32.8
Retail Trade 46 50 29 -8.0 58.6 526 504 4.4
Bankruptcies 32 37 25 -13.5 28.0 392 376 4.3
Proposals 14 13 4 7.7 250.0 134 128 4.7
Transportation and Warehousing 19 24 16 -20.8 18.8 204 271 -24.7
Bankruptcies 12 17 9 -29.4 33.3 152 182 -16.5
Proposals 7 7 7 0.0 0.0 52 89 -41.6
Information and Cultural Industries 4 1 5 300.0 -20.0 72 74 -2.7
Bankruptcies 4 1 2 300.0 100.0 63 50 26.0
Proposals 0 0 3 -- -100.0 9 24 -62.5
Finance and Insurance 8 3 7 166.7 14.3 68 87 -21.8
Bankruptcies 4 2 2 100.0 100.0 52 66 -21.2
Proposals 4 1 5 300.0 -20.0 16 21 -23.8
Real Estate and Rental and Leasing 16 23 9 -30.4 77.8 159 125 27.2
Bankruptcies 12 6 7 100.0 71.4 113 96 17.7
Proposals 4 17 2 -76.5 100.0 46 29 58.6
Professional, Scientific and Technical Services 23 34 27 -32.4 -14.8 295 291 1.4
Bankruptcies 16 26 23 -38.5 -30.4 225 237 -5.1
Proposals 7 8 4 -12.5 75.0 70 54 29.6
Management of Companies and Enterprises 5 8 2 -37.5 150.0 66 59 11.9
Bankruptcies 4 3 2 33.3 100.0 50 43 16.3
Proposals 1 5 0 -80.0 -- 16 16 0.0
Administrative and Support, Waste Management and Remediation Services 16 10 13 60.0 23.1 192 216 -11.1
Bankruptcies 16 9 11 77.8 45.5 143 163 -12.3
Proposals 0 1 2 -100.0 -100.0 49 53 -7.5
Educational Services 5 0 2 -- 150.0 32 43 -25.6
Bankruptcies 2 0 2 -- 0.0 21 35 -40.0
Proposals 3 0 0 -- -- 11 8 37.5
Health Care and Social Assistance 5 5 5 0.0 0.0 77 87 -11.5
Bankruptcies 4 3 5 33.3 -20.0 52 66 -21.2
Proposals 1 2 0 -50.0 -- 25 21 19.0
Arts, Entertainment and Recreation 10 7 7 42.9 42.9 74 77 -3.9
Bankruptcies 7 6 7 16.7 0.0 60 58 3.4
Proposals 3 1 0 200.0 -- 14 19 -26.3
Accommodation and Food Services 60 44 53 36.4 13.2 660 662 -0.3
Bankruptcies 45 33 45 36.4 0.0 507 521 -2.7
Proposals 15 11 8 36.4 87.5 153 141 8.5
Other Services (except Public Administration) 11 18 20 -38.9 -45.0 186 204 -8.8
Bankruptcies 9 15 14 -40.0 -35.7 154 159 -3.1
Proposals 2 3 6 -33.3 -66.7 32 45 -28.9
Public Administration 0 0 1 -- -100.0 5 1 400.0
Bankruptcies 0 0 1 -- -100.0 5 1 400.0
Proposals 0 0 0 -- -- 0 0 --
Total 338 355 310 -4.8 9.0 4,047 4,177 -3.1
Bankruptcies 248 247 235 0.4 5.5 3,054 3,083 -0.9
Proposals 90 108 75 -16.7 20.0 993 1,094 -9.2
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