Insolvency Statistics in Canada—July 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
July 2016 June 2016 July 2015 June 2016
to
July 2016
July 2015
to
July 2016
07-31-2016 07-31-2015 % Change
Newfoundland and Labrador 180 251 155 -28.3 16.1 2,213 1,694 30.6
Bankruptcies 130 166 137 -21.7 -5.1 1,575 1,426 10.4
Proposals 50 85 18 -41.2 177.8 638 268 138.1
Prince Edward Island 64 73 84 -12.3 -23.8 807 800 0.9
Bankruptcies 35 35 55 0.0 -36.4 499 525 -5.0
Proposals 29 38 29 -23.7 0.0 308 275 12.0
Nova Scotia 507 563 457 -9.9 10.9 5,691 5,304 7.3
Bankruptcies 367 392 322 -6.4 14.0 4,041 3,771 7.2
Proposals 140 171 135 -18.1 3.7 1,650 1,533 7.6
New Brunswick 317 386 402 -17.9 -21.1 4,372 4,479 -2.4
Bankruptcies 216 250 268 -13.6 -19.4 2,900 3,019 -3.9
Proposals 101 136 134 -25.7 -24.6 1,472 1,460 0.8
Quebec 3,265 3,926 3,867 -16.8 -15.6 45,359 45,882 -1.1
Bankruptcies 1,863 2,227 2,137 -16.3 -12.8 26,063 26,264 -0.8
Proposals 1,402 1,699 1,730 -17.5 -19.0 19,296 19,618 -1.6
Ontario 3,091 3,614 3,420 -14.5 -9.6 40,900 41,407 -1.2
Bankruptcies 1,307 1,610 1,549 -18.8 -15.6 18,160 19,412 -6.4
Proposals 1,784 2,004 1,871 -11.0 -4.6 22,740 21,995 3.4
Manitoba 185 247 202 -25.1 -8.4 2,433 2,100 15.9
Bankruptcies 110 145 119 -24.1 -7.6 1,371 1,342 2.2
Proposals 75 102 83 -26.5 -9.6 1,062 758 40.1
Saskatchewan 240 291 205 -17.5 17.1 2,757 2,134 29.2
Bankruptcies 119 133 105 -10.5 13.3 1,439 1,143 25.9
Proposals 121 158 100 -23.4 21.0 1,318 991 33.0
Alberta 1,037 1,219 830 -14.9 24.9 12,180 8,992 35.5
Bankruptcies 388 491 358 -21.0 8.4 5,148 4,052 27.0
Proposals 649 728 472 -10.9 37.5 7,032 4,940 42.3
British Columbia 870 1,016 1,021 -14.4 -14.8 11,618 11,657 -0.3
Bankruptcies 414 431 488 -3.9 -15.2 5,370 6,015 -10.7
Proposals 456 585 533 -22.1 -14.4 6,248 5,642 10.7
Northwest Territories 3 5 4 -40.0 -25.0 57 44 29.5
Bankruptcies 2 3 1 -33.3 100.0 33 22 50.0
Proposals 1 2 3 -50.0 -66.7 24 22 9.1
Yukon 3 9 4 -66.7 -25.0 50 35 42.9
Bankruptcies 3 3 2 0.0 50.0 28 16 75.0
Proposals 0 6 2 -100.0 -100.0 22 19 15.8
Nunavut 0 0 0 -- -- 10 6 66.7
Bankruptcies 0 0 0 -- -- 4 4 0.0
Proposals 0 0 0 -- -- 6 2 200.0
Canada 9,762 11,600 10,651 -15.8 -8.3 128,447 124,534 3.1
Bankruptcies 4,954 5,886 5,541 -15.8 -10.6 66,631 67,011 -0.6
Proposals 4,808 5,714 5,110 -15.9 -5.9 61,816 57,523 7.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2016 June 2016 July 2015 June 2016
to
July 2016
July 2015
to
July 2016
07-31-2016 07-31-2015 % Change
Newfoundland and Labrador 179 250 155 -28.4 15.5 2,185 1,667 31.1
Bankruptcies 129 165 137 -21.8 -5.8 1,555 1,401 11.0
Proposals 50 85 18 -41.2 177.8 630 266 136.8
Prince Edward Island 63 71 82 -11.3 -23.2 793 783 1.3
Bankruptcies 34 34 54 0.0 -37.0 490 512 -4.3
Proposals 29 37 28 -21.6 3.6 303 271 11.8
Nova Scotia 499 554 451 -9.9 10.6 5,613 5,215 7.6
Bankruptcies 360 384 316 -6.3 13.9 3,973 3,709 7.1
Proposals 139 170 135 -18.2 3.0 1,640 1,506 8.9
New Brunswick 310 383 394 -19.1 -21.3 4,298 4,400 -2.3
Bankruptcies 212 248 261 -14.5 -18.8 2,843 2,962 -4.0
Proposals 98 135 133 -27.4 -26.3 1,455 1,438 1.2
Quebec 3,128 3,743 3,707 -16.4 -15.6 43,136 43,534 -0.9
Bankruptcies 1,755 2,091 2,016 -16.1 -12.9 24,365 24,566 -0.8
Proposals 1,373 1,652 1,691 -16.9 -18.8 18,771 18,968 -1.0
Ontario 3,023 3,531 3,317 -14.4 -8.9 39,907 40,230 -0.8
Bankruptcies 1,258 1,542 1,469 -18.4 -14.4 17,413 18,496 -5.9
Proposals 1,765 1,989 1,848 -11.3 -4.5 22,494 21,734 3.5
Manitoba 182 241 198 -24.5 -8.1 2,382 2,063 15.5
Bankruptcies 107 141 118 -24.1 -9.3 1,334 1,318 1.2
Proposals 75 100 80 -25.0 -6.3 1,048 745 40.7
Saskatchewan 230 284 195 -19.0 17.9 2,620 2,042 28.3
Bankruptcies 112 126 97 -11.1 15.5 1,338 1,081 23.8
Proposals 118 158 98 -25.3 20.4 1,282 961 33.4
Alberta 1,026 1,202 824 -14.6 24.5 12,045 8,849 36.1
Bankruptcies 381 475 353 -19.8 7.9 5,055 3,944 28.2
Proposals 645 727 471 -11.3 36.9 6,990 4,905 42.5
British Columbia 857 993 1,007 -13.7 -14.9 11,382 11,459 -0.7
Bankruptcies 404 413 476 -2.2 -15.1 5,198 5,868 -11.4
Proposals 453 580 531 -21.9 -14.7 6,184 5,591 10.6
Northwest Territories 3 5 4 -40.0 -25.0 57 44 29.5
Bankruptcies 2 3 1 -33.3 100.0 33 22 50.0
Proposals 1 2 3 -50.0 -66.7 24 22 9.1
Yukon 3 9 4 -66.7 -25.0 50 34 47.1
Bankruptcies 3 3 2 0.0 50.0 28 16 75.0
Proposals 0 6 2 -100.0 -100.0 22 18 22.2
Nunavut 0 0 0 -- -- 9 5 80.0
Bankruptcies 0 0 0 -- -- 3 3 0.0
Proposals 0 0 0 -- -- 6 2 200.0
Canada 9,503 11,266 10,338 -15.6 -8.1 124,477 120,325 3.5
Bankruptcies 4,757 5,625 5,300 -15.4 -10.2 63,628 63,898 -0.4
Proposals 4,746 5,641 5,038 -15.9 -5.8 60,849 56,427 7.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2016 June 2016 July 2015 June 2016
to
July 2016
July 2015
to
July 2016
07-31-2016 07-31-2015 % Change
Newfoundland and Labrador 1 1 0 0.0 -- 28 27 3.7
Bankruptcies 1 1 0 0.0 -- 20 25 -20.0
Proposals 0 0 0 -- -- 8 2 300.0
Prince Edward Island 1 2 2 -50.0 -50.0 14 17 -17.6
Bankruptcies 1 1 1 0.0 0.0 9 13 -30.8
Proposals 0 1 1 -100.0 -100.0 5 4 25.0
Nova Scotia 8 9 6 -11.1 33.3 78 89 -12.4
Bankruptcies 7 8 6 -12.5 16.7 68 62 9.7
Proposals 1 1 0 0.0 -- 10 27 -63.0
New Brunswick 7 3 8 133.3 -12.5 74 79 -6.3
Bankruptcies 4 2 7 100.0 -42.9 57 57 0.0
Proposals 3 1 1 200.0 200.0 17 22 -22.7
Quebec 137 183 160 -25.1 -14.4 2,223 2,348 -5.3
Bankruptcies 108 136 121 -20.6 -10.7 1,698 1,698 0.0
Proposals 29 47 39 -38.3 -25.6 525 650 -19.2
Ontario 68 83 103 -18.1 -34.0 993 1,177 -15.6
Bankruptcies 49 68 80 -27.9 -38.8 747 916 -18.4
Proposals 19 15 23 26.7 -17.4 246 261 -5.7
Manitoba 3 6 4 -50.0 -25.0 51 37 37.8
Bankruptcies 3 4 1 -25.0 200.0 37 24 54.2
Proposals 0 2 3 -100.0 -100.0 14 13 7.7
Saskatchewan 10 7 10 42.9 0.0 137 92 48.9
Bankruptcies 7 7 8 0.0 -12.5 101 62 62.9
Proposals 3 0 2 -- 50.0 36 30 20.0
Alberta 11 17 6 -35.3 83.3 135 143 -5.6
Bankruptcies 7 16 5 -56.3 40.0 93 108 -13.9
Proposals 4 1 1 300.0 300.0 42 35 20.0
British Columbia 13 23 14 -43.5 -7.1 236 198 19.2
Bankruptcies 10 18 12 -44.4 -16.7 172 147 17.0
Proposals 3 5 2 -40.0 50.0 64 51 25.5
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 259 334 313 -22.5 -17.3 3,970 4,209 -5.7
Bankruptcies 197 261 241 -24.5 -18.3 3,003 3,113 -3.5
Proposals 62 73 72 -15.1 -13.9 967 1,096 -11.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
July 2016 June 2016 July 2015 June 2016
to
July 2016
July 2015
to
July 2016
07-31-2016 07-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 5 3 7 66.7 -28.6 76 85 -10.6
Bankruptcies 3 3 5 0.0 -40.0 53 43 23.3
Proposals 2 0 2 -- 0.0 23 42 -45.2
Mining and Oil and Gas Extraction 7 7 2 0.0 250.0 51 38 34.2
Bankruptcies 4 7 0 -42.9 -- 37 21 76.2
Proposals 3 0 2 -- 50.0 14 17 -17.6
Utilities 0 2 4 -100.0 -100.0 8 14 -42.9
Bankruptcies 0 0 2 -- -100.0 3 10 -70.0
Proposals 0 2 2 -100.0 -100.0 5 4 25.0
Construction 59 42 53 40.5 11.3 740 728 1.6
Bankruptcies 42 33 44 27.3 -4.5 555 527 5.3
Proposals 17 9 9 88.9 88.9 185 201 -8.0
Manufacturing 19 23 25 -17.4 -24.0 344 376 -8.5
Bankruptcies 12 17 16 -29.4 -25.0 257 259 -0.8
Proposals 7 6 9 16.7 -22.2 87 117 -25.6
Wholesale Trade 16 13 18 23.1 -11.1 176 221 -20.4
Bankruptcies 13 10 15 30.0 -13.3 135 159 -15.1
Proposals 3 3 3 0.0 0.0 41 62 -33.9
Retail Trade 27 37 38 -27.0 -28.9 516 498 3.6
Bankruptcies 22 29 30 -24.1 -26.7 386 377 2.4
Proposals 5 8 8 -37.5 -37.5 130 121 7.4
Transportation and Warehousing 14 30 14 -53.3 0.0 213 271 -21.4
Bankruptcies 12 26 12 -53.8 0.0 164 178 -7.9
Proposals 2 4 2 -50.0 0.0 49 93 -47.3
Information and Cultural Industries 5 3 4 66.7 25.0 69 78 -11.5
Bankruptcies 5 2 4 150.0 25.0 60 55 9.1
Proposals 0 1 0 -100.0 -- 9 23 -60.9
Finance and Insurance 3 8 5 -62.5 -40.0 66 89 -25.8
Bankruptcies 3 6 3 -50.0 0.0 51 67 -23.9
Proposals 0 2 2 -100.0 -100.0 15 22 -31.8
Real Estate and Rental and Leasing 9 9 9 0.0 0.0 156 120 30.0
Bankruptcies 8 8 9 0.0 -11.1 108 97 11.3
Proposals 1 1 0 0.0 -- 48 23 108.7
Professional, Scientific and Technical Services 20 35 24 -42.9 -16.7 298 304 -2.0
Bankruptcies 13 26 20 -50.0 -35.0 224 248 -9.7
Proposals 7 9 4 -22.2 75.0 74 56 32.1
Management of Companies and Enterprises 1 5 5 -80.0 -80.0 60 61 -1.6
Bankruptcies 1 5 3 -80.0 -66.7 48 42 14.3
Proposals 0 0 2 -- -100.0 12 19 -36.8
Administrative and Support, Waste Management and Remediation Services 13 20 23 -35.0 -43.5 184 217 -15.2
Bankruptcies 9 12 18 -25.0 -50.0 131 165 -20.6
Proposals 4 8 5 -50.0 -20.0 53 52 1.9
Educational Services 0 4 0 -100.0 -- 34 39 -12.8
Bankruptcies 0 3 0 -100.0 -- 22 32 -31.3
Proposals 0 1 0 -100.0 -- 12 7 71.4
Health Care and Social Assistance 5 8 8 -37.5 -37.5 72 95 -24.2
Bankruptcies 3 7 2 -57.1 50.0 55 65 -15.4
Proposals 2 1 6 100.0 -66.7 17 30 -43.3
Arts, Entertainment and Recreation 2 9 6 -77.8 -66.7 76 81 -6.2
Bankruptcies 2 6 5 -66.7 -60.0 61 60 1.7
Proposals 0 3 1 -100.0 -100.0 15 21 -28.6
Accommodation and Food Services 42 67 58 -37.3 -27.6 643 690 -6.8
Bankruptcies 34 53 43 -35.8 -20.9 497 546 -9.0
Proposals 8 14 15 -42.9 -46.7 146 144 1.4
Other Services (except Public Administration) 12 9 10 33.3 20.0 183 203 -9.9
Bankruptcies 11 8 10 37.5 10.0 151 161 -6.2
Proposals 1 1 0 0.0 -- 32 42 -23.8
Public Administration 0 0 0 -- -- 5 1 400.0
Bankruptcies 0 0 0 -- -- 5 1 400.0
Proposals 0 0 0 -- -- 0 0 --
Total 259 334 313 -22.5 -17.3 3,970 4,209 -5.7
Bankruptcies 197 261 241 -24.5 -18.3 3,003 3,113 -3.5
Proposals 62 73 72 -15.1 -13.9 967 1,096 -11.8
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