Insolvency Statistics in Canada—June 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
June 2016 May 2016 June 2015 May 2016
to
June 2016
June 2015
to
June 2016
06-30-2016 06-30-2015 % Change
Newfoundland and Labrador 251 234 179 7.3 40.2 2,188 1,665 31.4
Bankruptcies 166 158 145 5.1 14.5 1,582 1,400 13.0
Proposals 85 76 34 11.8 150.0 606 265 128.7
Prince Edward Island 73 64 68 14.1 7.4 827 789 4.8
Bankruptcies 35 37 38 -5.4 -7.9 519 523 -0.8
Proposals 38 27 30 40.7 26.7 308 266 15.8
Nova Scotia 563 581 503 -3.1 11.9 5,641 5,346 5.5
Bankruptcies 392 427 349 -8.2 12.3 3,996 3,805 5.0
Proposals 171 154 154 11.0 11.0 1,645 1,541 6.7
New Brunswick 386 448 394 -13.8 -2.0 4,457 4,435 0.5
Bankruptcies 250 309 263 -19.1 -4.9 2,952 3,005 -1.8
Proposals 136 139 131 -2.2 3.8 1,505 1,430 5.2
Quebec 3,926 4,068 3,775 -3.5 4.0 45,961 45,510 1.0
Bankruptcies 2,227 2,375 2,233 -6.2 -0.3 26,337 26,222 0.4
Proposals 1,699 1,693 1,542 0.4 10.2 19,624 19,288 1.7
Ontario 3,614 3,683 3,559 -1.9 1.5 41,229 41,621 -0.9
Bankruptcies 1,610 1,667 1,657 -3.4 -2.8 18,402 19,577 -6.0
Proposals 2,004 2,016 1,902 -0.6 5.4 22,827 22,044 3.6
Manitoba 247 243 187 1.6 32.1 2,450 2,054 19.3
Bankruptcies 145 133 125 9.0 16.0 1,380 1,330 3.8
Proposals 102 110 62 -7.3 64.5 1,070 724 47.8
Saskatchewan 291 258 189 12.8 54.0 2,722 2,111 28.9
Bankruptcies 133 124 96 7.3 38.5 1,425 1,137 25.3
Proposals 158 134 93 17.9 69.9 1,297 974 33.2
Alberta 1,219 1,162 877 4.9 39.0 11,973 8,817 35.8
Bankruptcies 491 487 409 0.8 20.0 5,118 3,997 28.0
Proposals 728 675 468 7.9 55.6 6,855 4,820 42.2
British Columbia 1,016 1,026 1,079 -1.0 -5.8 11,769 11,680 0.8
Bankruptcies 431 460 536 -6.3 -19.6 5,444 6,108 -10.9
Proposals 585 566 543 3.4 7.7 6,325 5,572 13.5
Northwest Territories 5 3 6 66.7 -16.7 58 42 38.1
Bankruptcies 3 1 4 200.0 -25.0 32 23 39.1
Proposals 2 2 2 0.0 0.0 26 19 36.8
Yukon 9 4 3 125.0 200.0 51 37 37.8
Bankruptcies 3 3 1 0.0 200.0 27 17 58.8
Proposals 6 1 2 500.0 200.0 24 20 20.0
Nunavut 0 1 1 -100.0 -100.0 10 6 66.7
Bankruptcies 0 0 1 -- -100.0 4 4 0.0
Proposals 0 1 0 -100.0 -- 6 2 200.0
Canada 11,600 11,775 10,820 -1.5 7.2 129,336 124,113 4.2
Bankruptcies 5,886 6,181 5,857 -4.8 0.5 67,218 67,148 0.1
Proposals 5,714 5,594 4,963 2.1 15.1 62,118 56,965 9.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2016 May 2016 June 2015 May 2016
to
June 2016
June 2015
to
June 2016
06-30-2016 06-30-2015 % Change
Newfoundland and Labrador 250 230 176 8.7 42.0 2,161 1,638 31.9
Bankruptcies 165 156 142 5.8 16.2 1,563 1,375 13.7
Proposals 85 74 34 14.9 150.0 598 263 127.4
Prince Edward Island 71 62 67 14.5 6.0 812 770 5.5
Bankruptcies 34 37 38 -8.1 -10.5 510 509 0.2
Proposals 37 25 29 48.0 27.6 302 261 15.7
Nova Scotia 554 573 486 -3.3 14.0 5,565 5,254 5.9
Bankruptcies 384 421 339 -8.8 13.3 3,929 3,743 5.0
Proposals 170 152 147 11.8 15.6 1,636 1,511 8.3
New Brunswick 383 441 392 -13.2 -2.3 4,382 4,358 0.6
Bankruptcies 248 303 262 -18.2 -5.3 2,892 2,951 -2.0
Proposals 135 138 130 -2.2 3.8 1,490 1,407 5.9
Quebec 3,743 3,888 3,585 -3.7 4.4 43,715 43,154 1.3
Bankruptcies 2,091 2,245 2,092 -6.9 0.0 24,626 24,517 0.4
Proposals 1,652 1,643 1,493 0.5 10.6 19,089 18,637 2.4
Ontario 3,531 3,591 3,470 -1.7 1.8 40,201 40,465 -0.7
Bankruptcies 1,542 1,596 1,590 -3.4 -3.0 17,624 18,671 -5.6
Proposals 1,989 1,995 1,880 -0.3 5.8 22,577 21,794 3.6
Manitoba 241 236 184 2.1 31.0 2,398 2,018 18.8
Bankruptcies 141 130 122 8.5 15.6 1,345 1,305 3.1
Proposals 100 106 62 -5.7 61.3 1,053 713 47.7
Saskatchewan 284 248 178 14.5 59.6 2,585 2,022 27.8
Bankruptcies 126 117 88 7.7 43.2 1,323 1,079 22.6
Proposals 158 131 90 20.6 75.6 1,262 943 33.8
Alberta 1,202 1,152 859 4.3 39.9 11,843 8,667 36.6
Bankruptcies 475 480 393 -1.0 20.9 5,027 3,887 29.3
Proposals 727 672 466 8.2 56.0 6,816 4,780 42.6
British Columbia 993 1,008 1,056 -1.5 -6.0 11,532 11,469 0.5
Bankruptcies 413 444 517 -7.0 -20.1 5,270 5,951 -11.4
Proposals 580 564 539 2.8 7.6 6,262 5,518 13.5
Northwest Territories 5 3 6 66.7 -16.7 58 42 38.1
Bankruptcies 3 1 4 200.0 -25.0 32 23 39.1
Proposals 2 2 2 0.0 0.0 26 19 36.8
Yukon 9 4 3 125.0 200.0 51 36 41.7
Bankruptcies 3 3 1 0.0 200.0 27 17 58.8
Proposals 6 1 2 500.0 200.0 24 19 26.3
Nunavut 0 1 1 -100.0 -100.0 9 5 80.0
Bankruptcies 0 0 1 -- -100.0 3 3 0.0
Proposals 0 1 0 -100.0 -- 6 2 200.0
Canada 11,266 11,437 10,463 -1.5 7.7 125,312 119,898 4.5
Bankruptcies 5,625 5,933 5,589 -5.2 0.6 64,171 64,031 0.2
Proposals 5,641 5,504 4,874 2.5 15.7 61,141 55,867 9.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2016 May 2016 June 2015 May 2016
to
June 2016
June 2015
to
June 2016
06-30-2016 06-30-2015 % Change
Newfoundland and Labrador 1 4 3 -75.0 -66.7 27 27 0.0
Bankruptcies 1 2 3 -50.0 -66.7 19 25 -24.0
Proposals 0 2 0 -100.0 -- 8 2 300.0
Prince Edward Island 2 2 1 0.0 100.0 15 19 -21.1
Bankruptcies 1 0 0 -- -- 9 14 -35.7
Proposals 1 2 1 -50.0 0.0 6 5 20.0
Nova Scotia 9 8 17 12.5 -47.1 76 92 -17.4
Bankruptcies 8 6 10 33.3 -20.0 67 62 8.1
Proposals 1 2 7 -50.0 -85.7 9 30 -70.0
New Brunswick 3 7 2 -57.1 50.0 75 77 -2.6
Bankruptcies 2 6 1 -66.7 100.0 60 54 11.1
Proposals 1 1 1 0.0 0.0 15 23 -34.8
Quebec 183 180 190 1.7 -3.7 2,246 2,356 -4.7
Bankruptcies 136 130 141 4.6 -3.5 1,711 1,705 0.4
Proposals 47 50 49 -6.0 -4.1 535 651 -17.8
Ontario 83 92 89 -9.8 -6.7 1,028 1,156 -11.1
Bankruptcies 68 71 67 -4.2 1.5 778 906 -14.1
Proposals 15 21 22 -28.6 -31.8 250 250 0.0
Manitoba 6 7 3 -14.3 100.0 52 36 44.4
Bankruptcies 4 3 3 33.3 33.3 35 25 40.0
Proposals 2 4 0 -50.0 -- 17 11 54.5
Saskatchewan 7 10 11 -30.0 -36.4 137 89 53.9
Bankruptcies 7 7 8 0.0 -12.5 102 58 75.9
Proposals 0 3 3 -100.0 -100.0 35 31 12.9
Alberta 17 10 18 70.0 -5.6 130 150 -13.3
Bankruptcies 16 7 16 128.6 0.0 91 110 -17.3
Proposals 1 3 2 -66.7 -50.0 39 40 -2.5
British Columbia 23 18 23 27.8 0.0 237 211 12.3
Bankruptcies 18 16 19 12.5 -5.3 174 157 10.8
Proposals 5 2 4 150.0 25.0 63 54 16.7
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 -- -- 1 1 0.0
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Canada 334 338 357 -1.2 -6.4 4,024 4,215 -4.5
Bankruptcies 261 248 268 5.2 -2.6 3,047 3,117 -2.2
Proposals 73 90 89 -18.9 -18.0 977 1,098 -11.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
June 2016 May 2016 June 2015 May 2016
to
June 2016
June 2015
to
June 2016
06-30-2016 06-30-2015 % Change
Agriculture, Forestry, Fishing and Hunting 3 2 5 50.0 -40.0 78 86 -9.3
Bankruptcies 3 0 1 -- 200.0 55 44 25.0
Proposals 0 2 4 -100.0 -100.0 23 42 -45.2
Mining and Oil and Gas Extraction 7 2 3 250.0 133.3 46 38 21.1
Bankruptcies 7 1 3 600.0 133.3 33 21 57.1
Proposals 0 1 0 -100.0 -- 13 17 -23.5
Utilities 2 0 1 -- 100.0 12 13 -7.7
Bankruptcies 0 0 1 -- -100.0 5 10 -50.0
Proposals 2 0 0 -- -- 7 3 133.3
Construction 42 62 71 -32.3 -40.8 734 729 0.7
Bankruptcies 33 44 54 -25.0 -38.9 557 527 5.7
Proposals 9 18 17 -50.0 -47.1 177 202 -12.4
Manufacturing 23 30 28 -23.3 -17.9 350 384 -8.9
Bankruptcies 17 23 18 -26.1 -5.6 261 266 -1.9
Proposals 6 7 10 -14.3 -40.0 89 118 -24.6
Wholesale Trade 13 14 15 -7.1 -13.3 178 224 -20.5
Bankruptcies 10 13 10 -23.1 0.0 137 163 -16.0
Proposals 3 1 5 200.0 -40.0 41 61 -32.8
Retail Trade 37 46 36 -19.6 2.8 527 501 5.2
Bankruptcies 29 32 27 -9.4 7.4 394 375 5.1
Proposals 8 14 9 -42.9 -11.1 133 126 5.6
Transportation and Warehousing 30 19 21 57.9 42.9 213 275 -22.5
Bankruptcies 26 12 14 116.7 85.7 164 183 -10.4
Proposals 4 7 7 -42.9 -42.9 49 92 -46.7
Information and Cultural Industries 3 4 7 -25.0 -57.1 68 80 -15.0
Bankruptcies 2 4 6 -50.0 -66.7 59 55 7.3
Proposals 1 0 1 -- 0.0 9 25 -64.0
Finance and Insurance 8 8 8 0.0 0.0 68 91 -25.3
Bankruptcies 6 4 7 50.0 -14.3 51 70 -27.1
Proposals 2 4 1 -50.0 100.0 17 21 -19.0
Real Estate and Rental and Leasing 9 16 12 -43.8 -25.0 156 120 30.0
Bankruptcies 8 12 12 -33.3 -33.3 109 95 14.7
Proposals 1 4 0 -75.0 -- 47 25 88.0
Professional, Scientific and Technical Services 35 23 28 52.2 25.0 302 301 0.3
Bankruptcies 26 16 20 62.5 30.0 231 243 -4.9
Proposals 9 7 8 28.6 12.5 71 58 22.4
Management of Companies and Enterprises 5 5 7 0.0 -28.6 64 62 3.2
Bankruptcies 5 4 5 25.0 0.0 50 44 13.6
Proposals 0 1 2 -100.0 -100.0 14 18 -22.2
Administrative and Support, Waste Management and Remediation Services 20 16 18 25.0 11.1 194 211 -8.1
Bankruptcies 12 16 15 -25.0 -20.0 140 161 -13.0
Proposals 8 0 3 -- 166.7 54 50 8.0
Educational Services 4 5 2 -20.0 100.0 34 40 -15.0
Bankruptcies 3 2 2 50.0 50.0 22 32 -31.3
Proposals 1 3 0 -66.7 -- 12 8 50.0
Health Care and Social Assistance 8 5 10 60.0 -20.0 75 93 -19.4
Bankruptcies 7 4 5 75.0 40.0 54 69 -21.7
Proposals 1 1 5 0.0 -80.0 21 24 -12.5
Arts, Entertainment and Recreation 9 10 3 -10.0 200.0 80 79 1.3
Bankruptcies 6 7 2 -14.3 200.0 64 59 8.5
Proposals 3 3 1 0.0 200.0 16 20 -20.0
Accommodation and Food Services 67 60 68 11.7 -1.5 659 683 -3.5
Bankruptcies 53 45 54 17.8 -1.9 506 539 -6.1
Proposals 14 15 14 -6.7 0.0 153 144 6.3
Other Services (except Public Administration) 9 11 14 -18.2 -35.7 181 204 -11.3
Bankruptcies 8 9 12 -11.1 -33.3 150 160 -6.3
Proposals 1 2 2 -50.0 -50.0 31 44 -29.5
Public Administration 0 0 0 -- -- 5 1 400.0
Bankruptcies 0 0 0 -- -- 5 1 400.0
Proposals 0 0 0 -- -- 0 0 --
Total 334 338 357 -1.2 -6.4 4,024 4,215 -4.5
Bankruptcies 261 248 268 5.2 -2.6 3,047 3,117 -2.2
Proposals 73 90 89 -18.9 -18.0 977 1,098 -11.0
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