Insolvency Statistics in Canada—February 2017

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
February 2017 January 2017 February 2016 Jan. 2017
to
Feb. 2017
Feb. 2016
to
Feb. 2017
02-28-2017 02-29-2016 % Change
Newfoundland and Labrador 184 186 188 -1.1 -2.1 2,458 1,933 27.2
Bankruptcies 84 119 126 -29.4 -33.3 1,541 1,540 0.1
Proposals 100 67 62 49.3 61.3 917 393 133.3
Prince Edward Island 60 42 72 42.9 -16.7 791 843 -6.2
Bankruptcies 29 20 47 45.0 -38.3 478 534 -10.5
Proposals 31 22 25 40.9 24.0 313 309 1.3
Nova Scotia 382 415 433 -8.0 -11.8 6,045 5,334 13.3
Bankruptcies 240 280 304 -14.3 -21.1 4,220 3,765 12.1
Proposals 142 135 129 5.2 10.1 1,825 1,569 16.3
New Brunswick 273 290 339 -5.9 -19.5 4,447 4,454 -0.2
Bankruptcies 159 142 212 12.0 -25.0 2,860 2,890 -1.0
Proposals 114 148 127 -23.0 -10.2 1,587 1,564 1.5
Quebec 3,766 3,191 3,965 18.0 -5.0 44,873 45,790 -2.0
Bankruptcies 1,990 1,762 2,228 12.9 -10.7 25,593 26,292 -2.7
Proposals 1,776 1,429 1,737 24.3 2.2 19,280 19,498 -1.1
Ontario 3,143 2,933 3,462 7.2 -9.2 40,348 41,240 -2.2
Bankruptcies 1,222 1,105 1,437 10.6 -15.0 17,356 18,668 -7.0
Proposals 1,921 1,828 2,025 5.1 -5.1 22,992 22,572 1.9
Manitoba 218 170 200 28.2 9.0 2,658 2,217 19.9
Bankruptcies 102 86 102 18.6 0.0 1,467 1,318 11.3
Proposals 116 84 98 38.1 18.4 1,191 899 32.5
Saskatchewan 250 242 214 3.3 16.8 3,155 2,417 30.5
Bankruptcies 97 123 102 -21.1 -4.9 1,530 1,289 18.7
Proposals 153 119 112 28.6 36.6 1,625 1,128 44.1
Alberta 1,093 1,007 1,099 8.5 -0.5 13,435 10,551 27.3
Bankruptcies 435 399 491 9.0 -11.4 5,496 4,638 18.5
Proposals 658 608 608 8.2 8.2 7,939 5,913 34.3
British Columbia 818 790 1,049 3.5 -22.0 10,759 11,782 -8.7
Bankruptcies 342 351 469 -2.6 -27.1 4,700 5,653 -16.9
Proposals 476 439 580 8.4 -17.9 6,059 6,129 -1.1
Northwest Territories 2 6 3 -66.7 -33.3 64 53 20.8
Bankruptcies 1 1 1 0.0 0.0 35 29 20.7
Proposals 1 5 2 -80.0 -50.0 29 24 20.8
Yukon 2 1 5 100.0 -60.0 48 38 26.3
Bankruptcies 1 0 3 -- -66.7 24 17 41.2
Proposals 1 1 2 0.0 -50.0 24 21 14.3
Nunavut 0 0 3 -- -100.0 5 9 -44.4
Bankruptcies 0 0 0 -- -- 2 4 -50.0
Proposals 0 0 3 -- -100.0 3 5 -40.0
Canada 10,191 9,273 11,032 9.9 -7.6 129,086 126,661 1.9
Bankruptcies 4,702 4,388 5,522 7.2 -14.8 65,302 66,637 -2.0
Proposals 5,489 4,885 5,510 12.4 -0.4 63,784 60,024 6.3
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
February 2017 January 2017 February 2016 Jan. 2017
to
Feb. 2017
Feb. 2016
to
Feb. 2017
02-28-2017 02-29-2016 % Change
Newfoundland and Labrador 182 185 186 -1.6 -2.2 2,430 1,907 27.4
Bankruptcies 82 119 125 -31.1 -34.4 1,519 1,520 -0.1
Proposals 100 66 61 51.5 63.9 911 387 135.4
Prince Edward Island 59 41 72 43.9 -18.1 776 829 -6.4
Bankruptcies 28 19 47 47.4 -40.4 469 523 -10.3
Proposals 31 22 25 40.9 24.0 307 306 0.3
Nova Scotia 381 412 430 -7.5 -11.4 5,975 5,246 13.9
Bankruptcies 239 277 301 -13.7 -20.6 4,162 3,694 12.7
Proposals 142 135 129 5.2 10.1 1,813 1,552 16.8
New Brunswick 272 288 333 -5.6 -18.3 4,394 4,379 0.3
Bankruptcies 158 140 207 12.9 -23.7 2,818 2,831 -0.5
Proposals 114 148 126 -23.0 -9.5 1,576 1,548 1.8
Quebec 3,569 3,060 3,728 16.6 -4.3 42,752 43,531 -1.8
Bankruptcies 1,857 1,663 2,046 11.7 -9.2 24,014 24,569 -2.3
Proposals 1,712 1,397 1,682 22.5 1.8 18,738 18,962 -1.2
Ontario 3,058 2,878 3,378 6.3 -9.5 39,405 40,160 -1.9
Bankruptcies 1,166 1,065 1,379 9.5 -15.4 16,669 17,835 -6.5
Proposals 1,892 1,813 1,999 4.4 -5.4 22,736 22,325 1.8
Manitoba 215 167 199 28.7 8.0 2,607 2,174 19.9
Bankruptcies 99 83 102 19.3 -2.9 1,431 1,288 11.1
Proposals 116 84 97 38.1 19.6 1,176 886 32.7
Saskatchewan 240 235 207 2.1 15.9 3,039 2,296 32.4
Bankruptcies 90 117 97 -23.1 -7.2 1,440 1,200 20.0
Proposals 150 118 110 27.1 36.4 1,599 1,096 45.9
Alberta 1,081 997 1,086 8.4 -0.5 13,267 10,414 27.4
Bankruptcies 426 391 483 9.0 -11.8 5,371 4,543 18.2
Proposals 655 606 603 8.1 8.6 7,896 5,871 34.5
British Columbia 800 773 1,027 3.5 -22.1 10,570 11,547 -8.5
Bankruptcies 326 336 458 -3.0 -28.8 4,549 5,491 -17.2
Proposals 474 437 569 8.5 -16.7 6,021 6,056 -0.6
Northwest Territories 2 6 3 -66.7 -33.3 64 53 20.8
Bankruptcies 1 1 1 0.0 0.0 35 29 20.7
Proposals 1 5 2 -80.0 -50.0 29 24 20.8
Yukon 2 1 5 100.0 -60.0 48 38 26.3
Bankruptcies 1 0 3 -- -66.7 24 17 41.2
Proposals 1 1 2 0.0 -50.0 24 21 14.3
Nunavut 0 0 3 -- -100.0 4 9 -55.6
Bankruptcies 0 0 0 -- -- 1 4 -75.0
Proposals 0 0 3 -- -100.0 3 5 -40.0
Canada 9,861 9,043 10,657 9.0 -7.5 125,331 122,583 2.2
Bankruptcies 4,473 4,211 5,249 6.2 -14.8 62,502 63,544 -1.6
Proposals 5,388 4,832 5,408 11.5 -0.4 62,829 59,039 6.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
February 2017 January 2017 February 2016 Jan. 2017
to
Feb. 2017
Feb. 2016
to
Feb. 2017
02-28-2017 02-29-2016 % Change
Newfoundland and Labrador 2 1 2 100.0 0.0 28 26 7.7
Bankruptcies 2 0 1 -- 100.0 22 20 10.0
Proposals 0 1 1 -100.0 -100.0 6 6 0.0
Prince Edward Island 1 1 0 0.0 -- 15 14 7.1
Bankruptcies 1 1 0 0.0 -- 9 11 -18.2
Proposals 0 0 0 -- -- 6 3 100.0
Nova Scotia 1 3 3 -66.7 -66.7 70 88 -20.5
Bankruptcies 1 3 3 -66.7 -66.7 58 71 -18.3
Proposals 0 0 0 -- -- 12 17 -29.4
New Brunswick 1 2 6 -50.0 -83.3 53 75 -29.3
Bankruptcies 1 2 5 -50.0 -80.0 42 59 -28.8
Proposals 0 0 1 -- -100.0 11 16 -31.3
Quebec 197 131 237 50.4 -16.9 2,121 2,259 -6.1
Bankruptcies 133 99 182 34.3 -26.9 1,579 1,723 -8.4
Proposals 64 32 55 100.0 16.4 542 536 1.1
Ontario 85 55 84 54.5 1.2 943 1,080 -12.7
Bankruptcies 56 40 58 40.0 -3.4 687 833 -17.5
Proposals 29 15 26 93.3 11.5 256 247 3.6
Manitoba 3 3 1 0.0 200.0 51 43 18.6
Bankruptcies 3 3 0 0.0 -- 36 30 20.0
Proposals 0 0 1 -- -100.0 15 13 15.4
Saskatchewan 10 7 7 42.9 42.9 116 121 -4.1
Bankruptcies 7 6 5 16.7 40.0 90 89 1.1
Proposals 3 1 2 200.0 50.0 26 32 -18.8
Alberta 12 10 13 20.0 -7.7 168 137 22.6
Bankruptcies 9 8 8 12.5 12.5 125 95 31.6
Proposals 3 2 5 50.0 -40.0 43 42 2.4
British Columbia 18 17 22 5.9 -18.2 189 235 -19.6
Bankruptcies 16 15 11 6.7 45.5 151 162 -6.8
Proposals 2 2 11 0.0 -81.8 38 73 -47.9
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 330 230 375 43.5 -12.0 3,755 4,078 -7.9
Bankruptcies 229 177 273 29.4 -16.1 2,800 3,093 -9.5
Proposals 101 53 102 90.6 -1.0 955 985 -3.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
February 2017 January 2017 February 2016 Jan. 2017
to
Feb. 2017
Feb. 2016
to
Feb. 2017
02-28-2017 02-29-2016 % Change
Agriculture, Forestry, Fishing and Hunting 3 7 12 -57.1 -75.0 81 86 -5.8
Bankruptcies 2 4 11 -50.0 -81.8 54 49 10.2
Proposals 1 3 1 -66.7 0.0 27 37 -27.0
Mining and Oil and Gas Extraction 3 1 5 200.0 -40.0 68 45 51.1
Bankruptcies 2 0 3 -- -33.3 46 35 31.4
Proposals 1 1 2 0.0 -50.0 22 10 120.0
Utilities 0 1 2 -100.0 -100.0 8 14 -42.9
Bankruptcies 0 1 0 -100.0 -- 4 9 -55.6
Proposals 0 0 2 -- -100.0 4 5 -20.0
Construction 56 44 60 27.3 -6.7 700 764 -8.4
Bankruptcies 36 34 48 5.9 -25.0 502 577 -13.0
Proposals 20 10 12 100.0 66.7 198 187 5.9
Manufacturing 35 19 31 84.2 12.9 293 380 -22.9
Bankruptcies 23 14 24 64.3 -4.2 207 276 -25.0
Proposals 12 5 7 140.0 71.4 86 104 -17.3
Wholesale Trade 15 10 14 50.0 7.1 181 190 -4.7
Bankruptcies 9 9 7 0.0 28.6 146 145 0.7
Proposals 6 1 7 500.0 -14.3 35 45 -22.2
Retail Trade 52 27 59 92.6 -11.9 433 507 -14.6
Bankruptcies 40 18 40 122.2 0.0 319 387 -17.6
Proposals 12 9 19 33.3 -36.8 114 120 -5.0
Transportation and Warehousing 18 16 17 12.5 5.9 230 211 9.0
Bankruptcies 9 13 13 -30.8 -30.8 175 157 11.5
Proposals 9 3 4 200.0 125.0 55 54 1.9
Information and Cultural Industries 6 6 10 0.0 -40.0 69 74 -6.8
Bankruptcies 2 5 9 -60.0 -77.8 51 58 -12.1
Proposals 4 1 1 300.0 300.0 18 16 12.5
Finance and Insurance 4 3 4 33.3 0.0 61 66 -7.6
Bankruptcies 3 3 3 0.0 0.0 50 51 -2.0
Proposals 1 0 1 -- 0.0 11 15 -26.7
Real Estate and Rental and Leasing 12 7 13 71.4 -7.7 151 146 3.4
Bankruptcies 7 4 6 75.0 16.7 98 117 -16.2
Proposals 5 3 7 66.7 -28.6 53 29 82.8
Professional, Scientific and Technical Services 21 16 19 31.3 10.5 295 279 5.7
Bankruptcies 16 13 13 23.1 23.1 227 217 4.6
Proposals 5 3 6 66.7 -16.7 68 62 9.7
Management of Companies and Enterprises 9 4 6 125.0 50.0 76 65 16.9
Bankruptcies 7 4 6 75.0 16.7 53 49 8.2
Proposals 2 0 0 -- -- 23 16 43.8
Administrative and Support, Waste Management and Remediation Services 18 13 18 38.5 0.0 189 203 -6.9
Bankruptcies 16 10 12 60.0 33.3 146 153 -4.6
Proposals 2 3 6 -33.3 -66.7 43 50 -14.0
Educational Services 7 0 5 -- 40.0 34 33 3.0
Bankruptcies 6 0 4 -- 50.0 22 25 -12.0
Proposals 1 0 1 -- 0.0 12 8 50.0
Health Care and Social Assistance 6 4 4 50.0 50.0 70 79 -11.4
Bankruptcies 4 3 1 33.3 300.0 54 55 -1.8
Proposals 2 1 3 100.0 -33.3 16 24 -33.3
Arts, Entertainment and Recreation 5 4 9 25.0 -44.4 74 75 -1.3
Bankruptcies 3 3 9 0.0 -66.7 55 57 -3.5
Proposals 2 1 0 100.0 -- 19 18 5.6
Accommodation and Food Services 44 37 69 18.9 -36.2 573 669 -14.3
Bankruptcies 34 31 47 9.7 -27.7 455 518 -12.2
Proposals 10 6 22 66.7 -54.5 118 151 -21.9
Other Services (except Public Administration) 16 11 17 45.5 -5.9 167 186 -10.2
Bankruptcies 10 8 16 25.0 -37.5 135 152 -11.2
Proposals 6 3 1 100.0 500.0 32 34 -5.9
Public Administration 0 0 1 -- -100.0 2 6 -66.7
Bankruptcies 0 0 1 -- -100.0 1 6 -83.3
Proposals 0 0 0 -- -- 1 0 --
Total 330 230 375 43.5 -12.0 3,755 4,078 -7.9
Bankruptcies 229 177 273 29.4 -16.1 2,800 3,093 -9.5
Proposals 101 53 102 90.6 -1.0 955 985 -3.0
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