Insolvency Statistics in Canada—December 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
Dec. 2016 Nov. 2016 Dec. 2015 Nov. 2016
to
Dec. 2016
Dec. 2015
to
Dec. 2016
12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 168 237 120 -29.1 40.0 2,427 1,849 31.3
Bankruptcies 96 163 104 -41.1 -7.7 1,574 1,519 3.6
Proposals 72 74 16 -2.7 350.0 853 330 158.5
Prince Edward Island 44 78 59 -43.6 -25.4 815 822 -0.9
Bankruptcies 28 49 36 -42.9 -22.2 507 531 -4.5
Proposals 16 29 23 -44.8 -30.4 308 291 5.8
Nova Scotia 407 553 414 -26.4 -1.7 6,023 5,325 13.1
Bankruptcies 271 402 286 -32.6 -5.2 4,254 3,717 14.4
Proposals 136 151 128 -9.9 6.3 1,769 1,608 10.0
New Brunswick 344 398 324 -13.6 6.2 4,501 4,411 2.0
Bankruptcies 229 246 213 -6.9 7.5 2,949 2,873 2.6
Proposals 115 152 111 -24.3 3.6 1,552 1,538 0.9
Quebec 3,158 3,860 3,337 -18.2 -5.4 45,206 45,942 -1.6
Bankruptcies 1,863 2,193 2,008 -15.0 -7.2 25,901 26,223 -1.2
Proposals 1,295 1,667 1,329 -22.3 -2.6 19,305 19,719 -2.1
Ontario 2,802 3,554 3,422 -21.2 -18.1 40,551 41,076 -1.3
Bankruptcies 1,210 1,532 1,626 -21.0 -25.6 17,595 18,842 -6.6
Proposals 1,592 2,022 1,796 -21.3 -11.4 22,956 22,234 3.2
Manitoba 190 224 175 -15.2 8.6 2,659 2,136 24.5
Bankruptcies 97 139 98 -30.2 -1.0 1,482 1,290 14.9
Proposals 93 85 77 9.4 20.8 1,177 846 39.1
Saskatchewan 262 267 219 -1.9 19.6 3,077 2,317 32.8
Bankruptcies 130 127 131 2.4 -0.8 1,512 1,240 21.9
Proposals 132 140 88 -5.7 50.0 1,565 1,077 45.3
Alberta 991 1,171 830 -15.4 19.4 13,338 9,944 34.1
Bankruptcies 411 477 383 -13.8 7.3 5,548 4,375 26.8
Proposals 580 694 447 -16.4 29.8 7,790 5,569 39.9
British Columbia 732 905 931 -19.1 -21.4 11,005 11,802 -6.8
Bankruptcies 344 366 418 -6.0 -17.7 4,868 5,837 -16.6
Proposals 388 539 513 -28.0 -24.4 6,137 5,965 2.9
Northwest Territories 7 5 10 40.0 -30.0 60 52 15.4
Bankruptcies 5 4 4 25.0 25.0 35 28 25.0
Proposals 2 1 6 100.0 -66.7 25 24 4.2
Yukon 3 2 3 50.0 0.0 55 35 57.1
Bankruptcies 1 1 1 0.0 0.0 27 18 50.0
Proposals 2 1 2 100.0 0.0 28 17 64.7
Nunavut 0 0 0 -- -- 10 5 100.0
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 0 0 0 -- -- 6 3 100.0
Canada 9,108 11,254 9,844 -19.1 -7.5 129,727 125,716 3.2
Bankruptcies 4,685 5,699 5,308 -17.8 -11.7 66,256 66,495 -0.4
Proposals 4,423 5,555 4,536 -20.4 -2.5 63,471 59,221 7.2
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Dec. 2016 Nov. 2016 Dec. 2015 Nov. 2016
to
Dec. 2016
Dec. 2015
to
Dec. 2016
12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 166 230 119 -27.8 39.5 2,399 1,822 31.7
Bankruptcies 94 157 104 -40.1 -9.6 1,552 1,498 3.6
Proposals 72 73 15 -1.4 380.0 847 324 161.4
Prince Edward Island 43 78 59 -44.9 -27.1 802 806 -0.5
Bankruptcies 28 49 36 -42.9 -22.2 500 519 -3.7
Proposals 15 29 23 -48.3 -34.8 302 287 5.2
Nova Scotia 401 548 408 -26.8 -1.7 5,948 5,232 13.7
Bankruptcies 267 397 280 -32.7 -4.6 4,191 3,648 14.9
Proposals 134 151 128 -11.3 4.7 1,757 1,584 10.9
New Brunswick 340 394 313 -13.7 8.6 4,442 4,331 2.6
Bankruptcies 226 242 202 -6.6 11.9 2,904 2,814 3.2
Proposals 114 152 111 -25.0 2.7 1,538 1,517 1.4
Quebec 2,996 3,658 3,133 -18.1 -4.4 43,009 43,705 -1.6
Bankruptcies 1,729 2,049 1,853 -15.6 -6.7 24,241 24,539 -1.2
Proposals 1,267 1,609 1,280 -21.3 -1.0 18,768 19,166 -2.1
Ontario 2,732 3,487 3,335 -21.7 -18.1 39,611 39,935 -0.8
Bankruptcies 1,153 1,490 1,557 -22.6 -25.9 16,904 17,958 -5.9
Proposals 1,579 1,997 1,778 -20.9 -11.2 22,707 21,977 3.3
Manitoba 181 220 170 -17.7 6.5 2,607 2,098 24.3
Bankruptcies 93 137 94 -32.1 -1.1 1,448 1,264 14.6
Proposals 88 83 76 6.0 15.8 1,159 834 39.0
Saskatchewan 251 258 214 -2.7 17.3 2,960 2,198 34.7
Bankruptcies 121 121 127 0.0 -4.7 1,421 1,155 23.0
Proposals 130 137 87 -5.1 49.4 1,539 1,043 47.6
Alberta 978 1,145 821 -14.6 19.1 13,170 9,810 34.3
Bankruptcies 401 465 375 -13.8 6.9 5,427 4,280 26.8
Proposals 577 680 446 -15.1 29.4 7,743 5,530 40.0
British Columbia 707 895 915 -21.0 -22.7 10,806 11,580 -6.7
Bankruptcies 324 358 403 -9.5 -19.6 4,719 5,683 -17.0
Proposals 383 537 512 -28.7 -25.2 6,087 5,897 3.2
Northwest Territories 7 5 10 40.0 -30.0 60 52 15.4
Bankruptcies 5 4 4 25.0 25.0 35 28 25.0
Proposals 2 1 6 100.0 -66.7 25 24 4.2
Yukon 3 2 3 50.0 0.0 55 35 57.1
Bankruptcies 1 1 1 0.0 0.0 27 18 50.0
Proposals 2 1 2 100.0 0.0 28 17 64.7
Nunavut 0 0 0 -- -- 9 5 80.0
Bankruptcies 0 0 0 -- -- 3 2 50.0
Proposals 0 0 0 -- -- 6 3 100.0
Canada 8,805 10,920 9,500 -19.4 -7.3 125,878 121,609 3.5
Bankruptcies 4,442 5,470 5,036 -18.8 -11.8 63,372 63,406 -0.1
Proposals 4,363 5,450 4,464 -19.9 -2.3 62,506 58,203 7.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Dec. 2016 Nov. 2016 Dec. 2015 Nov. 2016
to
Dec. 2016
Dec. 2015
to
Dec. 2016
12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 2 7 1 -71.4 100.0 28 27 3.7
Bankruptcies 2 6 0 -66.7 -- 22 21 4.8
Proposals 0 1 1 -100.0 -100.0 6 6 0.0
Prince Edward Island 1 0 0 -- -- 13 16 -18.8
Bankruptcies 0 0 0 -- -- 7 12 -41.7
Proposals 1 0 0 -- -- 6 4 50.0
Nova Scotia 6 5 6 20.0 0.0 75 93 -19.4
Bankruptcies 4 5 6 -20.0 -33.3 63 69 -8.7
Proposals 2 0 0 -- -- 12 24 -50.0
New Brunswick 4 4 11 0.0 -63.6 59 80 -26.3
Bankruptcies 3 4 11 -25.0 -72.7 45 59 -23.7
Proposals 1 0 0 -- -- 14 21 -33.3
Quebec 162 202 204 -19.8 -20.6 2,197 2,237 -1.8
Bankruptcies 134 144 155 -6.9 -13.5 1,660 1,684 -1.4
Proposals 28 58 49 -51.7 -42.9 537 553 -2.9
Ontario 70 67 87 4.5 -19.5 940 1,141 -17.6
Bankruptcies 57 42 69 35.7 -17.4 691 884 -21.8
Proposals 13 25 18 -48.0 -27.8 249 257 -3.1
Manitoba 9 4 5 125.0 80.0 52 38 36.8
Bankruptcies 4 2 4 100.0 0.0 34 26 30.8
Proposals 5 2 1 150.0 400.0 18 12 50.0
Saskatchewan 11 9 5 22.2 120.0 117 119 -1.7
Bankruptcies 9 6 4 50.0 125.0 91 85 7.1
Proposals 2 3 1 -33.3 100.0 26 34 -23.5
Alberta 13 26 9 -50.0 44.4 168 134 25.4
Bankruptcies 10 12 8 -16.7 25.0 121 95 27.4
Proposals 3 14 1 -78.6 200.0 47 39 20.5
British Columbia 25 10 16 150.0 56.3 199 222 -10.4
Bankruptcies 20 8 15 150.0 33.3 149 154 -3.2
Proposals 5 2 1 150.0 400.0 50 68 -26.5
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 303 334 344 -9.3 -11.9 3,849 4,107 -6.3
Bankruptcies 243 229 272 6.1 -10.7 2,884 3,089 -6.6
Proposals 60 105 72 -42.9 -16.7 965 1,018 -5.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
Dec. 2016 Nov. 2016 Dec. 2015 Nov. 2016
to
Dec. 2016
Dec. 2015
to
Dec. 2016
12-31-2016 12-31-2015 % Change
Agriculture, Forestry, Fishing and Hunting 12 11 5 9.1 140.0 88 84 4.8
Bankruptcies 9 7 4 28.6 125.0 62 43 44.2
Proposals 3 4 1 -25.0 200.0 26 41 -36.6
Mining and Oil and Gas Extraction 15 6 6 150.0 150.0 72 44 63.6
Bankruptcies 13 4 6 225.0 116.7 50 31 61.3
Proposals 2 2 0 0.0 -- 22 13 69.2
Utilities 3 1 1 200.0 200.0 9 13 -30.8
Bankruptcies 1 1 0 0.0 -- 3 10 -70.0
Proposals 2 0 1 -- 100.0 6 3 100.0
Construction 58 54 56 7.4 3.6 711 775 -8.3
Bankruptcies 45 35 47 28.6 -4.3 520 572 -9.1
Proposals 13 19 9 -31.6 44.4 191 203 -5.9
Manufacturing 18 29 34 -37.9 -47.1 299 380 -21.3
Bankruptcies 13 17 25 -23.5 -48.0 216 267 -19.1
Proposals 5 12 9 -58.3 -44.4 83 113 -26.5
Wholesale Trade 13 18 18 -27.8 -27.8 179 208 -13.9
Bankruptcies 11 13 14 -15.4 -21.4 142 154 -7.8
Proposals 2 5 4 -60.0 -50.0 37 54 -31.5
Retail Trade 32 37 44 -13.5 -27.3 454 502 -9.6
Bankruptcies 28 17 33 64.7 -15.2 331 385 -14.0
Proposals 4 20 11 -80.0 -63.6 123 117 5.1
Transportation and Warehousing 25 19 14 31.6 78.6 225 219 2.7
Bankruptcies 22 13 11 69.2 100.0 177 159 11.3
Proposals 3 6 3 -50.0 0.0 48 60 -20.0
Information and Cultural Industries 11 9 8 22.2 37.5 71 72 -1.4
Bankruptcies 6 5 7 20.0 -14.3 56 54 3.7
Proposals 5 4 1 25.0 400.0 15 18 -16.7
Finance and Insurance 3 4 6 -25.0 -50.0 64 74 -13.5
Bankruptcies 3 4 6 -25.0 -50.0 52 55 -5.5
Proposals 0 0 0 -- -- 12 19 -36.8
Real Estate and Rental and Leasing 8 20 13 -60.0 -38.5 154 141 9.2
Bankruptcies 6 13 10 -53.8 -40.0 101 114 -11.4
Proposals 2 7 3 -71.4 -33.3 53 27 96.3
Professional, Scientific and Technical Services 25 33 22 -24.2 13.6 296 287 3.1
Bankruptcies 23 25 15 -8.0 53.3 228 224 1.8
Proposals 2 8 7 -75.0 -71.4 68 63 7.9
Management of Companies and Enterprises 8 7 6 14.3 33.3 77 57 35.1
Bankruptcies 8 3 4 166.7 100.0 55 40 37.5
Proposals 0 4 2 -100.0 -100.0 22 17 29.4
Administrative and Support, Waste Management and Remediation Services 22 15 17 46.7 29.4 191 196 -2.6
Bankruptcies 16 11 12 45.5 33.3 143 148 -3.4
Proposals 6 4 5 50.0 20.0 48 48 0.0
Educational Services 1 4 5 -75.0 -80.0 32 37 -13.5
Bankruptcies 1 2 4 -50.0 -75.0 20 30 -33.3
Proposals 0 2 1 -100.0 -100.0 12 7 71.4
Health Care and Social Assistance 4 6 2 -33.3 100.0 71 75 -5.3
Bankruptcies 4 6 2 -33.3 100.0 52 56 -7.1
Proposals 0 0 0 -- -- 19 19 0.0
Arts, Entertainment and Recreation 5 5 3 0.0 66.7 80 71 12.7
Bankruptcies 4 4 1 0.0 300.0 64 52 23.1
Proposals 1 1 2 0.0 -50.0 16 19 -15.8
Accommodation and Food Services 31 43 67 -27.9 -53.7 610 658 -7.3
Bankruptcies 24 39 58 -38.5 -58.6 473 526 -10.1
Proposals 7 4 9 75.0 -22.2 137 132 3.8
Other Services (except Public Administration) 9 13 17 -30.8 -47.1 162 210 -22.9
Bankruptcies 6 10 13 -40.0 -53.8 136 165 -17.6
Proposals 3 3 4 0.0 -25.0 26 45 -42.2
Public Administration 0 0 0 -- -- 4 4 0.0
Bankruptcies 0 0 0 -- -- 3 4 -25.0
Proposals 0 0 0 -- -- 1 0 --
Total 303 334 344 -9.3 -11.9 3,849 4,107 -6.3
Bankruptcies 243 229 272 6.1 -10.7 2,884 3,089 -6.6
Proposals 60 105 72 -42.9 -16.7 965 1,018 -5.2
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