Insolvency Statistics in Canada—August 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
August 2016 July 2016 August 2015 July 2016
to
August 2016
August 2015
to
August 2016
08-31-2016 08-31-2015 % Change
Newfoundland and Labrador 213 180 156 18.3 36.5 2,270 1,722 31.8
Bankruptcies 134 130 126 3.1 6.3 1,583 1,449 9.2
Proposals 79 50 30 58.0 163.3 687 273 151.6
Prince Edward Island 68 64 61 6.3 11.5 814 779 4.5
Bankruptcies 50 35 39 42.9 28.2 510 503 1.4
Proposals 18 29 22 -37.9 -18.2 304 276 10.1
Nova Scotia 533 507 381 5.1 39.9 5,843 5,289 10.5
Bankruptcies 363 367 260 -1.1 39.6 4,144 3,748 10.6
Proposals 170 140 121 21.4 40.5 1,699 1,541 10.3
New Brunswick 410 317 385 29.3 6.5 4,397 4,466 -1.5
Bankruptcies 255 216 249 18.1 2.4 2,906 2,992 -2.9
Proposals 155 101 136 53.5 14.0 1,491 1,474 1.2
Quebec 3,546 3,265 3,319 8.6 6.8 45,586 45,740 -0.3
Bankruptcies 2,044 1,863 1,973 9.7 3.6 26,134 26,215 -0.3
Proposals 1,502 1,402 1,346 7.1 11.6 19,452 19,525 -0.4
Ontario 3,277 3,091 3,103 6.0 5.6 41,074 41,378 -0.7
Bankruptcies 1,378 1,307 1,434 5.4 -3.9 18,104 19,359 -6.5
Proposals 1,899 1,784 1,669 6.4 13.8 22,970 22,019 4.3
Manitoba 208 185 161 12.4 29.2 2,480 2,095 18.4
Bankruptcies 127 110 98 15.5 29.6 1,400 1,343 4.2
Proposals 81 75 63 8.0 28.6 1,080 752 43.6
Saskatchewan 282 240 196 17.5 43.9 2,843 2,167 31.2
Bankruptcies 138 119 102 16.0 35.3 1,475 1,160 27.2
Proposals 144 121 94 19.0 53.2 1,368 1,007 35.8
Alberta 1,099 1,037 756 6.0 45.4 12,523 9,104 37.6
Bankruptcies 449 388 337 15.7 33.2 5,260 4,089 28.6
Proposals 650 649 419 0.2 55.1 7,263 5,015 44.8
British Columbia 829 870 955 -4.7 -13.2 11,492 11,768 -2.3
Bankruptcies 352 414 449 -15.0 -21.6 5,273 6,010 -12.3
Proposals 477 456 506 4.6 -5.7 6,219 5,758 8.0
Northwest Territories 8 3 3 166.7 166.7 62 42 47.6
Bankruptcies 2 2 1 0.0 100.0 34 22 54.5
Proposals 6 1 2 500.0 200.0 28 20 40.0
Yukon 6 3 5 100.0 20.0 51 37 37.8
Bankruptcies 1 3 3 -66.7 -66.7 26 16 62.5
Proposals 5 0 2 -- 150.0 25 21 19.0
Nunavut 0 0 0 -- -- 10 5 100.0
Bankruptcies 0 0 0 -- -- 4 4 0.0
Proposals 0 0 0 -- -- 6 1 500.0
Canada 10,479 9,762 9,481 7.3 10.5 129,445 124,592 3.9
Bankruptcies 5,293 4,954 5,071 6.8 4.4 66,853 66,910 -0.1
Proposals 5,186 4,808 4,410 7.9 17.6 62,592 57,682 8.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
August 2016 July 2016 August 2015 July 2016
to
August 2016
August 2015
to
August 2016
08-31-2016 08-31-2015 % Change
Newfoundland and Labrador 211 179 153 17.9 37.9 2,243 1,694 32.4
Bankruptcies 132 129 124 2.3 6.5 1,563 1,424 9.8
Proposals 79 50 29 58.0 172.4 680 270 151.9
Prince Edward Island 68 63 61 7.9 11.5 800 762 5.0
Bankruptcies 50 34 39 47.1 28.2 501 490 2.2
Proposals 18 29 22 -37.9 -18.2 299 272 9.9
Nova Scotia 525 499 378 5.2 38.9 5,760 5,204 10.7
Bankruptcies 356 360 257 -1.1 38.5 4,072 3,687 10.4
Proposals 169 139 121 21.6 39.7 1,688 1,517 11.3
New Brunswick 407 310 381 31.3 6.8 4,324 4,384 -1.4
Bankruptcies 252 212 246 18.9 2.4 2,849 2,933 -2.9
Proposals 155 98 135 58.2 14.8 1,475 1,451 1.7
Quebec 3,373 3,128 3,190 7.8 5.7 43,319 43,423 -0.2
Bankruptcies 1,916 1,755 1,869 9.2 2.5 24,412 24,527 -0.5
Proposals 1,457 1,373 1,321 6.1 10.3 18,907 18,896 0.1
Ontario 3,210 3,023 3,026 6.2 6.1 40,091 40,215 -0.3
Bankruptcies 1,329 1,258 1,376 5.6 -3.4 17,366 18,459 -5.9
Proposals 1,881 1,765 1,650 6.6 14.0 22,725 21,756 4.5
Manitoba 205 182 155 12.6 32.3 2,432 2,056 18.3
Bankruptcies 124 107 93 15.9 33.3 1,365 1,315 3.8
Proposals 81 75 62 8.0 30.6 1,067 741 44.0
Saskatchewan 273 230 184 18.7 48.4 2,709 2,071 30.8
Bankruptcies 129 112 92 15.2 40.2 1,375 1,092 25.9
Proposals 144 118 92 22.0 56.5 1,334 979 36.3
Alberta 1,086 1,026 743 5.8 46.2 12,388 8,963 38.2
Bankruptcies 439 381 333 15.2 31.8 5,161 3,988 29.4
Proposals 647 645 410 0.3 57.8 7,227 4,975 45.3
British Columbia 812 857 942 -5.3 -13.8 11,252 11,578 -2.8
Bankruptcies 342 404 438 -15.3 -21.9 5,102 5,868 -13.1
Proposals 470 453 504 3.8 -6.7 6,150 5,710 7.7
Northwest Territories 8 3 3 166.7 166.7 62 42 47.6
Bankruptcies 2 2 1 0.0 100.0 34 22 54.5
Proposals 6 1 2 500.0 200.0 28 20 40.0
Yukon 6 3 5 100.0 20.0 51 36 41.7
Bankruptcies 1 3 3 -66.7 -66.7 26 16 62.5
Proposals 5 0 2 -- 150.0 25 20 25.0
Nunavut 0 0 0 -- -- 9 4 125.0
Bankruptcies 0 0 0 -- -- 3 3 0.0
Proposals 0 0 0 -- -- 6 1 500.0
Canada 10,184 9,503 9,221 7.2 10.4 125,440 120,432 4.2
Bankruptcies 5,072 4,757 4,871 6.6 4.1 63,829 63,824 0.0
Proposals 5,112 4,746 4,350 7.7 17.5 61,611 56,608 8.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
August 2016 July 2016 August 2015 July 2016
to
August 2016
August 2015
to
August 2016
08-31-2016 08-31-2015 % Change
Newfoundland and Labrador 2 1 3 100.0 -33.3 27 28 -3.6
Bankruptcies 2 1 2 100.0 0.0 20 25 -20.0
Proposals 0 0 1 -- -100.0 7 3 133.3
Prince Edward Island 0 1 0 -100.0 -- 14 17 -17.6
Bankruptcies 0 1 0 -100.0 -- 9 13 -30.8
Proposals 0 0 0 -- -- 5 4 25.0
Nova Scotia 8 8 3 0.0 166.7 83 85 -2.4
Bankruptcies 7 7 3 0.0 133.3 72 61 18.0
Proposals 1 1 0 0.0 -- 11 24 -54.2
New Brunswick 3 7 4 -57.1 -25.0 73 82 -11.0
Bankruptcies 3 4 3 -25.0 0.0 57 59 -3.4
Proposals 0 3 1 -100.0 -100.0 16 23 -30.4
Quebec 173 137 129 26.3 34.1 2,267 2,317 -2.2
Bankruptcies 128 108 104 18.5 23.1 1,722 1,688 2.0
Proposals 45 29 25 55.2 80.0 545 629 -13.4
Ontario 67 68 77 -1.5 -13.0 983 1,163 -15.5
Bankruptcies 49 49 58 0.0 -15.5 738 900 -18.0
Proposals 18 19 19 -5.3 -5.3 245 263 -6.8
Manitoba 3 3 6 0.0 -50.0 48 39 23.1
Bankruptcies 3 3 5 0.0 -40.0 35 28 25.0
Proposals 0 0 1 -- -100.0 13 11 18.2
Saskatchewan 9 10 12 -10.0 -25.0 134 96 39.6
Bankruptcies 9 7 10 28.6 -10.0 100 68 47.1
Proposals 0 3 2 -100.0 -100.0 34 28 21.4
Alberta 13 11 13 18.2 0.0 135 141 -4.3
Bankruptcies 10 7 4 42.9 150.0 99 101 -2.0
Proposals 3 4 9 -25.0 -66.7 36 40 -10.0
British Columbia 17 13 13 30.8 30.8 240 190 26.3
Bankruptcies 10 10 11 0.0 -9.1 171 142 20.4
Proposals 7 3 2 133.3 250.0 69 48 43.8
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 295 259 260 13.9 13.5 4,005 4,160 -3.7
Bankruptcies 221 197 200 12.2 10.5 3,024 3,086 -2.0
Proposals 74 62 60 19.4 23.3 981 1,074 -8.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
August 2016 July 2016 August 2015 July 2016
to
August 2016
August 2015
to
August 2016
08-31-2016 08-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 2 5 2 -60.0 0.0 76 79 -3.8
Bankruptcies 1 3 1 -66.7 0.0 53 42 26.2
Proposals 1 2 1 -50.0 0.0 23 37 -37.8
Mining and Oil and Gas Extraction 7 7 2 0.0 250.0 56 37 51.4
Bankruptcies 1 4 1 -75.0 0.0 37 21 76.2
Proposals 6 3 1 100.0 500.0 19 16 18.8
Utilities 0 0 0 -- -- 8 13 -38.5
Bankruptcies 0 0 0 -- -- 3 9 -66.7
Proposals 0 0 0 -- -- 5 4 25.0
Construction 54 59 43 -8.5 25.6 751 722 4.0
Bankruptcies 36 42 32 -14.3 12.5 559 524 6.7
Proposals 18 17 11 5.9 63.6 192 198 -3.0
Manufacturing 22 19 24 15.8 -8.3 342 379 -9.8
Bankruptcies 17 12 18 41.7 -5.6 256 259 -1.2
Proposals 5 7 6 -28.6 -16.7 86 120 -28.3
Wholesale Trade 15 16 14 -6.3 7.1 177 218 -18.8
Bankruptcies 12 13 9 -7.7 33.3 138 155 -11.0
Proposals 3 3 5 0.0 -40.0 39 63 -38.1
Retail Trade 30 27 32 11.1 -6.3 514 492 4.5
Bankruptcies 25 22 29 13.6 -13.8 382 377 1.3
Proposals 5 5 3 0.0 66.7 132 115 14.8
Transportation and Warehousing 14 14 12 0.0 16.7 215 260 -17.3
Bankruptcies 11 12 7 -8.3 57.1 168 167 0.6
Proposals 3 2 5 50.0 -40.0 47 93 -49.5
Information and Cultural Industries 3 5 3 -40.0 0.0 69 76 -9.2
Bankruptcies 3 5 2 -40.0 50.0 61 53 15.1
Proposals 0 0 1 -- -100.0 8 23 -65.2
Finance and Insurance 6 3 3 100.0 100.0 69 83 -16.9
Bankruptcies 6 3 3 100.0 100.0 54 63 -14.3
Proposals 0 0 0 -- -- 15 20 -25.0
Real Estate and Rental and Leasing 15 9 11 66.7 36.4 160 125 28.0
Bankruptcies 13 8 8 62.5 62.5 113 101 11.9
Proposals 2 1 3 100.0 -33.3 47 24 95.8
Professional, Scientific and Technical Services 17 20 25 -15.0 -32.0 290 311 -6.8
Bankruptcies 12 13 17 -7.7 -29.4 219 248 -11.7
Proposals 5 7 8 -28.6 -37.5 71 63 12.7
Management of Companies and Enterprises 7 1 1 600.0 600.0 66 57 15.8
Bankruptcies 3 1 1 200.0 200.0 50 39 28.2
Proposals 4 0 0 -- -- 16 18 -11.1
Administrative and Support, Waste Management and Remediation Services 17 13 13 30.8 30.8 188 213 -11.7
Bankruptcies 12 9 9 33.3 33.3 134 159 -15.7
Proposals 5 4 4 25.0 25.0 54 54 0.0
Educational Services 4 0 2 -- 100.0 36 36 0.0
Bankruptcies 2 0 2 -- 0.0 22 31 -29.0
Proposals 2 0 0 -- -- 14 5 180.0
Health Care and Social Assistance 6 5 6 20.0 0.0 72 97 -25.8
Bankruptcies 6 3 4 100.0 50.0 57 67 -14.9
Proposals 0 2 2 -100.0 -100.0 15 30 -50.0
Arts, Entertainment and Recreation 6 2 5 200.0 20.0 77 80 -3.8
Bankruptcies 4 2 4 100.0 0.0 61 59 3.4
Proposals 2 0 1 -- 100.0 16 21 -23.8
Accommodation and Food Services 53 42 48 26.2 10.4 648 677 -4.3
Bankruptcies 42 34 40 23.5 5.0 499 548 -8.9
Proposals 11 8 8 37.5 37.5 149 129 15.5
Other Services (except Public Administration) 16 12 13 33.3 23.1 186 203 -8.4
Bankruptcies 14 11 12 27.3 16.7 153 162 -5.6
Proposals 2 1 1 100.0 100.0 33 41 -19.5
Public Administration 1 0 1 -- 0.0 5 2 150.0
Bankruptcies 1 0 1 -- 0.0 5 2 150.0
Proposals 0 0 0 -- -- 0 0 --
Total 295 259 260 13.9 13.5 4,005 4,160 -3.7
Bankruptcies 221 197 200 12.2 10.5 3,024 3,086 -2.0
Proposals 74 62 60 19.4 23.3 981 1,074 -8.7
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