Insolvency Statistics in Canada—October 2016

Tables

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
Oct. 2016 Sept. 2016 Oct. 2015 Sept. 2016
to
Oct. 2016
Oct. 2015
to
Oct. 2016
10-31-2016 10-31-2015 % Change
Newfoundland and Labrador 172 208 191 -17.3 -9.9 2,303 1,791 28.6
Bankruptcies 103 122 142 -15.6 -27.5 1,529 1,489 2.7
Proposals 69 86 49 -19.8 40.8 774 302 156.3
Prince Edward Island 74 77 79 -3.9 -6.3 833 792 5.2
Bankruptcies 48 49 51 -2.0 -5.9 524 499 5.0
Proposals 26 28 28 -7.1 -7.1 309 293 5.5
Nova Scotia 505 553 494 -8.7 2.2 5,933 5,246 13.1
Bankruptcies 362 360 354 0.6 2.3 4,180 3,702 12.9
Proposals 143 193 140 -25.9 2.1 1,753 1,544 13.5
New Brunswick 423 384 364 10.2 16.2 4,429 4,454 -0.6
Bankruptcies 266 244 238 9.0 11.8 2,908 2,940 -1.1
Proposals 157 140 126 12.1 24.6 1,521 1,514 0.5
Quebec 3,793 3,915 4,061 -3.1 -6.6 45,318 45,812 -1.1
Bankruptcies 2,215 2,250 2,287 -1.6 -3.1 25,988 26,136 -0.6
Proposals 1,578 1,665 1,774 -5.2 -11.0 19,330 19,676 -1.8
Ontario 3,304 3,326 3,481 -0.7 -5.1 40,894 40,875 0.0
Bankruptcies 1,444 1,493 1,554 -3.3 -7.1 17,972 18,957 -5.2
Proposals 1,860 1,833 1,927 1.5 -3.5 22,922 21,918 4.6
Manitoba 260 242 187 7.4 39.0 2,619 2,107 24.3
Bankruptcies 135 124 110 8.9 22.7 1,448 1,333 8.6
Proposals 125 118 77 5.9 62.3 1,171 774 51.3
Saskatchewan 251 267 201 -6.0 24.9 2,962 2,202 34.5
Bankruptcies 119 114 108 4.4 10.2 1,500 1,157 29.6
Proposals 132 153 93 -13.7 41.9 1,462 1,045 39.9
Alberta 1,105 1,142 924 -3.2 19.6 12,924 9,516 35.8
Bankruptcies 462 468 387 -1.3 19.4 5,413 4,195 29.0
Proposals 643 674 537 -4.6 19.7 7,511 5,321 41.2
British Columbia 807 896 933 -9.9 -13.5 11,279 11,674 -3.4
Bankruptcies 346 359 440 -3.6 -21.4 5,058 5,903 -14.3
Proposals 461 537 493 -14.2 -6.5 6,221 5,771 7.8
Northwest Territories 5 8 5 -37.5 0.0 66 46 43.5
Bankruptcies 3 5 4 -40.0 -25.0 35 25 40.0
Proposals 2 3 1 -33.3 100.0 31 21 47.6
Yukon 4 4 1 0.0 300.0 54 37 45.9
Bankruptcies 1 3 0 -66.7 -- 27 17 58.8
Proposals 3 1 1 200.0 200.0 27 20 35.0
Nunavut 2 1 1 100.0 100.0 12 4 200.0
Bankruptcies 0 1 0 -100.0 -- 5 2 150.0
Proposals 2 0 1 -- 100.0 7 2 250.0
Canada 10,705 11,023 10,922 -2.9 -2.0 129,626 124,556 4.1
Bankruptcies 5,504 5,592 5,675 -1.6 -3.0 66,587 66,355 0.3
Proposals 5,201 5,431 5,247 -4.2 -0.9 63,039 58,201 8.3
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Oct. 2016 Sept. 2016 Oct. 2015 Sept. 2016
to
Oct. 2016
Oct. 2015
to
Oct. 2016
10-31-2016 10-31-2015 % Change
Newfoundland and Labrador 171 205 190 -16.6 -10.0 2,278 1,766 29.0
Bankruptcies 102 120 141 -15.0 -27.7 1,511 1,468 2.9
Proposals 69 85 49 -18.8 40.8 767 298 157.4
Prince Edward Island 74 75 77 -1.3 -3.9 820 773 6.1
Bankruptcies 48 47 49 2.1 -2.0 516 484 6.6
Proposals 26 28 28 -7.1 -7.1 304 289 5.2
Nova Scotia 498 550 490 -9.5 1.6 5,856 5,152 13.7
Bankruptcies 358 357 351 0.3 2.0 4,113 3,636 13.1
Proposals 140 193 139 -27.5 0.7 1,743 1,516 15.0
New Brunswick 418 380 357 10.0 17.1 4,364 4,372 -0.2
Bankruptcies 262 240 232 9.2 12.9 2,856 2,884 -1.0
Proposals 156 140 125 11.4 24.8 1,508 1,488 1.3
Quebec 3,631 3,748 3,877 -3.1 -6.3 43,088 43,543 -1.0
Bankruptcies 2,093 2,134 2,151 -1.9 -2.7 24,295 24,488 -0.8
Proposals 1,538 1,614 1,726 -4.7 -10.9 18,793 19,055 -1.4
Ontario 3,216 3,244 3,402 -0.9 -5.5 39,915 39,737 0.4
Bankruptcies 1,380 1,424 1,496 -3.1 -7.8 17,236 18,086 -4.7
Proposals 1,836 1,820 1,906 0.9 -3.7 22,679 21,651 4.7
Manitoba 259 238 183 8.8 41.5 2,573 2,066 24.5
Bankruptcies 134 121 107 10.7 25.2 1,414 1,304 8.4
Proposals 125 117 76 6.8 64.5 1,159 762 52.1
Saskatchewan 243 261 189 -6.9 28.6 2,846 2,088 36.3
Bankruptcies 112 109 101 2.8 10.9 1,408 1,077 30.7
Proposals 131 152 88 -13.8 48.9 1,438 1,011 42.2
Alberta 1,081 1,131 916 -4.4 18.0 12,774 9,380 36.2
Bankruptcies 440 458 380 -3.9 15.8 5,298 4,097 29.3
Proposals 641 673 536 -4.8 19.6 7,476 5,283 41.5
British Columbia 796 884 905 -10.0 -12.0 11,067 11,460 -3.4
Bankruptcies 340 349 423 -2.6 -19.6 4,907 5,749 -14.6
Proposals 456 535 482 -14.8 -5.4 6,160 5,711 7.9
Northwest Territories 5 8 5 -37.5 0.0 66 46 43.5
Bankruptcies 3 5 4 -40.0 -25.0 35 25 40.0
Proposals 2 3 1 -33.3 100.0 31 21 47.6
Yukon 4 4 1 0.0 300.0 54 36 50.0
Bankruptcies 1 3 0 -66.7 -- 27 17 58.8
Proposals 3 1 1 200.0 200.0 27 19 42.1
Nunavut 2 1 1 100.0 100.0 11 4 175.0
Bankruptcies 0 1 0 -100.0 -- 4 2 100.0
Proposals 2 0 1 -- 100.0 7 2 250.0
Canada 10,398 10,729 10,593 -3.1 -1.8 125,712 120,423 4.4
Bankruptcies 5,273 5,368 5,435 -1.8 -3.0 63,620 63,317 0.5
Proposals 5,125 5,361 5,158 -4.4 -0.6 62,092 57,106 8.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Oct. 2016 Sept. 2016 Oct. 2015 Sept. 2016
to
Oct. 2016
Oct. 2015
to
Oct. 2016
10-31-2016 10-31-2015 % Change
Newfoundland and Labrador 1 3 1 -66.7 0.0 25 25 0.0
Bankruptcies 1 2 1 -50.0 0.0 18 21 -14.3
Proposals 0 1 0 -100.0 -- 7 4 75.0
Prince Edward Island 0 2 2 -100.0 -100.0 13 19 -31.6
Bankruptcies 0 2 2 -100.0 -100.0 8 15 -46.7
Proposals 0 0 0 -- -- 5 4 25.0
Nova Scotia 7 3 4 133.3 75.0 77 94 -18.1
Bankruptcies 4 3 3 33.3 33.3 67 66 1.5
Proposals 3 0 1 -- 200.0 10 28 -64.3
New Brunswick 5 4 7 25.0 -28.6 65 82 -20.7
Bankruptcies 4 4 6 0.0 -33.3 52 56 -7.1
Proposals 1 0 1 -- 0.0 13 26 -50.0
Quebec 162 167 184 -3.0 -12.0 2,230 2,269 -1.7
Bankruptcies 122 116 136 5.2 -10.3 1,693 1,648 2.7
Proposals 40 51 48 -21.6 -16.7 537 621 -13.5
Ontario 88 82 79 7.3 11.4 979 1,138 -14.0
Bankruptcies 64 69 58 -7.2 10.3 736 871 -15.5
Proposals 24 13 21 84.6 14.3 243 267 -9.0
Manitoba 1 4 4 -75.0 -75.0 46 41 12.2
Bankruptcies 1 3 3 -66.7 -66.7 34 29 17.2
Proposals 0 1 1 -100.0 -100.0 12 12 0.0
Saskatchewan 8 6 12 33.3 -33.3 116 114 1.8
Bankruptcies 7 5 7 40.0 0.0 92 80 15.0
Proposals 1 1 5 0.0 -80.0 24 34 -29.4
Alberta 24 11 8 118.2 200.0 150 136 10.3
Bankruptcies 22 10 7 120.0 214.3 115 98 17.3
Proposals 2 1 1 100.0 100.0 35 38 -7.9
British Columbia 11 12 28 -8.3 -60.7 212 214 -0.9
Bankruptcies 6 10 17 -40.0 -64.7 151 154 -1.9
Proposals 5 2 11 150.0 -54.5 61 60 1.7
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 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 307 294 329 4.4 -6.7 3,914 4,133 -5.3
Bankruptcies 231 224 240 3.1 -3.8 2,967 3,038 -2.3
Proposals 76 70 89 8.6 -14.6 947 1,095 -13.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
Oct. 2016 Sept. 2016 Oct. 2015 Sept. 2016
to
Oct. 2016
Oct. 2015
to
Oct. 2016
10-31-2016 10-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 12 6 6 100.0 100.0 75 85 -11.8
Bankruptcies 8 3 4 166.7 100.0 55 41 34.1
Proposals 4 3 2 33.3 100.0 20 44 -54.5
Mining and Oil and Gas Extraction 11 3 3 266.7 266.7 62 37 67.6
Bankruptcies 10 2 1 400.0 900.0 43 23 87.0
Proposals 1 1 2 0.0 -50.0 19 14 35.7
Utilities 0 1 0 -100.0 -- 7 13 -46.2
Bankruptcies 0 1 0 -100.0 -- 2 9 -77.8
Proposals 0 0 0 -- -- 5 4 25.0
Construction 60 61 67 -1.6 -10.4 726 760 -4.5
Bankruptcies 44 44 49 0.0 -10.2 541 550 -1.6
Proposals 16 17 18 -5.9 -11.1 185 210 -11.9
Manufacturing 27 19 36 42.1 -25.0 318 376 -15.4
Bankruptcies 17 16 26 6.3 -34.6 234 265 -11.7
Proposals 10 3 10 233.3 0.0 84 111 -24.3
Wholesale Trade 18 14 14 28.6 28.6 182 215 -15.3
Bankruptcies 15 12 10 25.0 50.0 145 156 -7.1
Proposals 3 2 4 50.0 -25.0 37 59 -37.3
Retail Trade 21 29 43 -27.6 -51.2 471 491 -4.1
Bankruptcies 17 22 30 -22.7 -43.3 352 375 -6.1
Proposals 4 7 13 -42.9 -69.2 119 116 2.6
Transportation and Warehousing 19 17 18 11.8 5.6 216 249 -13.3
Bankruptcies 14 13 14 7.7 0.0 169 154 9.7
Proposals 5 4 4 25.0 25.0 47 95 -50.5
Information and Cultural Industries 4 5 7 -20.0 -42.9 66 72 -8.3
Bankruptcies 2 5 7 -60.0 -71.4 57 53 7.5
Proposals 2 0 0 -- -- 9 19 -52.6
Finance and Insurance 4 6 4 -33.3 0.0 70 76 -7.9
Bankruptcies 4 6 4 -33.3 0.0 57 58 -1.7
Proposals 0 0 0 -- -- 13 18 -27.8
Real Estate and Rental and Leasing 7 15 15 -53.3 -53.3 156 133 17.3
Bankruptcies 4 9 12 -55.6 -66.7 104 108 -3.7
Proposals 3 6 3 -50.0 0.0 52 25 108.0
Professional, Scientific and Technical Services 19 20 21 -5.0 -9.5 284 303 -6.3
Bankruptcies 14 16 19 -12.5 -26.3 216 237 -8.9
Proposals 5 4 2 25.0 150.0 68 66 3.0
Management of Companies and Enterprises 8 9 4 -11.1 100.0 73 59 23.7
Bankruptcies 6 4 2 50.0 200.0 53 41 29.3
Proposals 2 5 2 -60.0 0.0 20 18 11.1
Administrative and Support, Waste Management and Remediation Services 17 14 14 21.4 21.4 192 201 -4.5
Bankruptcies 16 11 8 45.5 100.0 142 145 -2.1
Proposals 1 3 6 -66.7 -83.3 50 56 -10.7
Educational Services 3 2 2 50.0 50.0 35 35 0.0
Bankruptcies 3 1 1 200.0 200.0 23 29 -20.7
Proposals 0 1 1 -100.0 -100.0 12 6 100.0
Health Care and Social Assistance 8 6 6 33.3 33.3 69 87 -20.7
Bankruptcies 4 4 5 0.0 -20.0 49 61 -19.7
Proposals 4 2 1 100.0 300.0 20 26 -23.1
Arts, Entertainment and Recreation 9 4 7 125.0 28.6 81 75 8.0
Bankruptcies 5 3 4 66.7 25.0 65 50 30.0
Proposals 4 1 3 300.0 33.3 16 25 -36.0
Accommodation and Food Services 47 51 42 -7.8 11.9 657 656 0.2
Bankruptcies 37 41 29 -9.8 27.6 513 520 -1.3
Proposals 10 10 13 0.0 -23.1 144 136 5.9
Other Services (except Public Administration) 12 12 19 0.0 -36.8 170 206 -17.5
Bankruptcies 11 11 14 0.0 -21.4 144 159 -9.4
Proposals 1 1 5 0.0 -80.0 26 47 -44.7
Public Administration 1 0 1 -- 0.0 4 4 0.0
Bankruptcies 0 0 1 -- -100.0 3 4 -25.0
Proposals 1 0 0 -- -- 1 0 --
Total 307 294 329 4.4 -6.7 3,914 4,133 -5.3
Bankruptcies 231 224 240 3.1 -3.8 2,967 3,038 -2.3
Proposals 76 70 89 8.6 -14.6 947 1,095 -13.5
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