Insolvency Statistics in Canada—May 2017

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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

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.
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.
Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
NAICS:
North American Industry Classification System.
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.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
May 2017 April 2017 May 2016 Apr. 2017
to
May 2017
May 2016
to
May 2017
05-31-2017 05-31-2016 % Change
Newfoundland and Labrador 216 222 234 -2.7 -7.7 2,470 2,116 16.7
Bankruptcies 121 134 158 -9.7 -23.4 1,508 1,561 -3.4
Proposals 95 88 76 8.0 25.0 962 555 73.3
Prince Edward Island 50 57 64 -12.3 -21.9 765 822 -6.9
Bankruptcies 33 38 37 -13.2 -10.8 459 522 -12.1
Proposals 17 19 27 -10.5 -37.0 306 300 2.0
Nova Scotia 552 531 581 4.0 -5.0 6,083 5,581 9.0
Bankruptcies 369 387 427 -4.7 -13.6 4,172 3,953 5.5
Proposals 183 144 154 27.1 18.8 1,911 1,628 17.4
New Brunswick 429 387 448 10.9 -4.2 4,469 4,465 0.1
Bankruptcies 251 250 309 0.4 -18.8 2,769 2,965 -6.6
Proposals 178 137 139 29.9 28.1 1,700 1,500 13.3
Quebec 4,116 3,582 4,068 14.9 1.2 44,298 45,810 -3.3
Bankruptcies 2,371 2,069 2,375 14.6 -0.2 25,111 26,343 -4.7
Proposals 1,745 1,513 1,693 15.3 3.1 19,187 19,467 -1.4
Ontario 3,617 3,315 3,683 9.1 -1.8 39,768 41,174 -3.4
Bankruptcies 1,564 1,410 1,667 10.9 -6.2 16,876 18,449 -8.5
Proposals 2,053 1,905 2,016 7.8 1.8 22,892 22,725 0.7
Manitoba 209 187 243 11.8 -14.0 2,601 2,390 8.8
Bankruptcies 123 104 133 18.3 -7.5 1,418 1,360 4.3
Proposals 86 83 110 3.6 -21.8 1,183 1,030 14.9
Saskatchewan 304 282 258 7.8 17.8 3,210 2,620 22.5
Bankruptcies 158 131 124 20.6 27.4 1,507 1,388 8.6
Proposals 146 151 134 -3.3 9.0 1,703 1,232 38.2
Alberta 1,208 1,043 1,162 15.8 4.0 13,405 11,631 15.3
Bankruptcies 475 421 487 12.8 -2.5 5,390 5,036 7.0
Proposals 733 622 675 17.8 8.6 8,015 6,595 21.5
British Columbia 952 780 1,026 22.1 -7.2 10,420 11,832 -11.9
Bankruptcies 428 366 460 16.9 -7.0 4,560 5,549 -17.8
Proposals 524 414 566 26.6 -7.4 5,860 6,283 -6.7
Northwest Territories 9 5 3 80.0 200.0 66 59 11.9
Bankruptcies 4 4 1 0.0 300.0 35 33 6.1
Proposals 5 1 2 400.0 150.0 31 26 19.2
Yukon 3 3 4 0.0 -25.0 45 45 0.0
Bankruptcies 2 3 3 -33.3 -33.3 21 25 -16.0
Proposals 1 0 1 -- 0.0 24 20 20.0
Nunavut 0 0 1 -- -100.0 3 11 -72.7
Bankruptcies 0 0 0 -- -- 1 5 -80.0
Proposals 0 0 1 -- -100.0 2 6 -66.7
Canada 11,665 10,394 11,775 12.2 -0.9 127,603 128,556 -0.7
Bankruptcies 5,899 5,317 6,181 10.9 -4.6 63,827 67,189 -5.0
Proposals 5,766 5,077 5,594 13.6 3.1 63,776 61,367 3.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2017 April 2017 May 2016 Apr. 2017
to
May 2017
May 2016
to
May 2017
05-31-2017 05-31-2016 % Change
Newfoundland and Labrador 214 218 230 -1.8 -7.0 2,437 2,087 16.8
Bankruptcies 120 130 156 -7.7 -23.1 1,484 1,540 -3.6
Proposals 94 88 74 6.8 27.0 953 547 74.2
Prince Edward Island 48 57 62 -15.8 -22.6 751 808 -7.1
Bankruptcies 33 38 37 -13.2 -10.8 449 514 -12.6
Proposals 15 19 25 -21.1 -40.0 302 294 2.7
Nova Scotia 547 529 573 3.4 -4.5 6,021 5,497 9.5
Bankruptcies 365 385 421 -5.2 -13.3 4,119 3,884 6.1
Proposals 182 144 152 26.4 19.7 1,902 1,613 17.9
New Brunswick 421 379 441 11.1 -4.5 4,415 4,391 0.5
Bankruptcies 246 243 303 1.2 -18.8 2,725 2,906 -6.2
Proposals 175 136 138 28.7 26.8 1,690 1,485 13.8
Quebec 3,924 3,411 3,888 15.0 0.9 42,204 43,557 -3.1
Bankruptcies 2,208 1,936 2,245 14.0 -1.6 23,530 24,627 -4.5
Proposals 1,716 1,475 1,643 16.3 4.4 18,674 18,930 -1.4
Ontario 3,536 3,239 3,591 9.2 -1.5 38,862 40,140 -3.2
Bankruptcies 1,501 1,353 1,596 10.9 -6.0 16,201 17,672 -8.3
Proposals 2,035 1,886 1,995 7.9 2.0 22,661 22,468 0.9
Manitoba 204 185 236 10.3 -13.6 2,552 2,341 9.0
Bankruptcies 118 102 130 15.7 -9.2 1,379 1,326 4.0
Proposals 86 83 106 3.6 -18.9 1,173 1,015 15.6
Saskatchewan 285 270 248 5.6 14.9 3,089 2,479 24.6
Bankruptcies 143 121 117 18.2 22.2 1,414 1,285 10.0
Proposals 142 149 131 -4.7 8.4 1,675 1,194 40.3
Alberta 1,185 1,024 1,152 15.7 2.9 13,213 11,500 14.9
Bankruptcies 460 407 480 13.0 -4.2 5,247 4,945 6.1
Proposals 725 617 672 17.5 7.9 7,966 6,555 21.5
British Columbia 936 769 1,008 21.7 -7.1 10,232 11,595 -11.8
Bankruptcies 416 356 444 16.9 -6.3 4,412 5,374 -17.9
Proposals 520 413 564 25.9 -7.8 5,820 6,221 -6.4
Northwest Territories 8 5 3 60.0 166.7 65 59 10.2
Bankruptcies 3 4 1 -25.0 200.0 34 33 3.0
Proposals 5 1 2 400.0 150.0 31 26 19.2
Yukon 3 3 4 0.0 -25.0 45 45 0.0
Bankruptcies 2 3 3 -33.3 -33.3 21 25 -16.0
Proposals 1 0 1 -- 0.0 24 20 20.0
Nunavut 0 0 1 -- -100.0 3 10 -70.0
Bankruptcies 0 0 0 -- -- 1 4 -75.0
Proposals 0 0 1 -- -100.0 2 6 -66.7
Canada 11,311 10,089 11,437 12.1 -1.1 123,889 124,509 -0.5
Bankruptcies 5,615 5,078 5,933 10.6 -5.4 61,016 64,135 -4.9
Proposals 5,696 5,011 5,504 13.7 3.5 62,873 60,374 4.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2017 April 2017 May 2016 Apr. 2017
to
May 2017
May 2016
to
May 2017
05-31-2017 05-31-2016 % Change
Newfoundland and Labrador 2 4 4 -50.0 -50.0 33 29 13.8
Bankruptcies 1 4 2 -75.0 -50.0 24 21 14.3
Proposals 1 0 2 -- -50.0 9 8 12.5
Prince Edward Island 2 0 2 -- 0.0 14 14 0.0
Bankruptcies 0 0 0 -- -- 10 8 25.0
Proposals 2 0 2 -- 0.0 4 6 -33.3
Nova Scotia 5 2 8 150.0 -37.5 62 84 -26.2
Bankruptcies 4 2 6 100.0 -33.3 53 69 -23.2
Proposals 1 0 2 -- -50.0 9 15 -40.0
New Brunswick 8 8 7 0.0 14.3 54 74 -27.0
Bankruptcies 5 7 6 -28.6 -16.7 44 59 -25.4
Proposals 3 1 1 200.0 200.0 10 15 -33.3
Quebec 192 171 180 12.3 6.7 2,094 2,253 -7.1
Bankruptcies 163 133 130 22.6 25.4 1,581 1,716 -7.9
Proposals 29 38 50 -23.7 -42.0 513 537 -4.5
Ontario 81 76 92 6.6 -12.0 906 1,034 -12.4
Bankruptcies 63 57 71 10.5 -11.3 675 777 -13.1
Proposals 18 19 21 -5.3 -14.3 231 257 -10.1
Manitoba 5 2 7 150.0 -28.6 49 49 0.0
Bankruptcies 5 2 3 150.0 66.7 39 34 14.7
Proposals 0 0 4 -- -100.0 10 15 -33.3
Saskatchewan 19 12 10 58.3 90.0 121 141 -14.2
Bankruptcies 15 10 7 50.0 114.3 93 103 -9.7
Proposals 4 2 3 100.0 33.3 28 38 -26.3
Alberta 23 19 10 21.1 130.0 192 131 46.6
Bankruptcies 15 14 7 7.1 114.3 143 91 57.1
Proposals 8 5 3 60.0 166.7 49 40 22.5
British Columbia 16 11 18 45.5 -11.1 188 237 -20.7
Bankruptcies 12 10 16 20.0 -25.0 148 175 -15.4
Proposals 4 1 2 300.0 100.0 40 62 -35.5
Northwest Territoires 1 0 0 -- -- 1 0 --
Bankruptcies 1 0 0 -- -- 1 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 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 354 305 338 16.1 4.7 3,714 4,047 -8.2
Bankruptcies 284 239 248 18.8 14.5 2,811 3,054 -8.0
Proposals 70 66 90 6.1 -22.2 903 993 -9.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
May 2017 April 2017 May 2016 Apr. 2017
to
May 2017
May 2016
to
May 2017
05-31-2017 05-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 9 7 2 28.6 350.0 83 80 3.8
Bankruptcies 7 7 0 0.0 -- 60 53 13.2
Proposals 2 0 2 -- 0.0 23 27 -14.8
Mining and Oil and Gas Extraction 6 6 2 0.0 200.0 75 42 78.6
Bankruptcies 4 5 1 -20.0 300.0 53 29 82.8
Proposals 2 1 1 100.0 100.0 22 13 69.2
Utilities 0 1 0 -100.0 -- 10 11 -9.1
Bankruptcies 0 1 0 -100.0 -- 6 6 0.0
Proposals 0 0 0 -- -- 4 5 -20.0
Construction 71 41 62 73.2 14.5 669 763 -12.3
Bankruptcies 55 33 44 66.7 25.0 484 578 -16.3
Proposals 16 8 18 100.0 -11.1 185 185 0.0
Manufacturing 27 35 30 -22.9 -10.0 306 355 -13.8
Bankruptcies 20 29 23 -31.0 -13.0 218 262 -16.8
Proposals 7 6 7 16.7 0.0 88 93 -5.4
Wholesale Trade 16 13 14 23.1 14.3 177 180 -1.7
Bankruptcies 13 9 13 44.4 0.0 134 137 -2.2
Proposals 3 4 1 -25.0 200.0 43 43 0.0
Retail Trade 39 37 46 5.4 -15.2 406 526 -22.8
Bankruptcies 30 24 32 25.0 -6.3 302 392 -23.0
Proposals 9 13 14 -30.8 -35.7 104 134 -22.4
Transportation and Warehousing 25 27 19 -7.4 31.6 252 204 23.5
Bankruptcies 20 24 12 -16.7 66.7 196 152 28.9
Proposals 5 3 7 66.7 -28.6 56 52 7.7
Information and Cultural Industries 3 4 4 -25.0 -25.0 68 72 -5.6
Bankruptcies 2 4 4 -50.0 -50.0 49 63 -22.2
Proposals 1 0 0 -- -- 19 9 111.1
Finance and Insurance 9 3 8 200.0 12.5 63 68 -7.4
Bankruptcies 8 3 4 166.7 100.0 58 52 11.5
Proposals 1 0 4 -- -75.0 5 16 -68.8
Real Estate and Rental and Leasing 6 19 16 -68.4 -62.5 138 159 -13.2
Bankruptcies 5 16 12 -68.8 -58.3 101 113 -10.6
Proposals 1 3 4 -66.7 -75.0 37 46 -19.6
Professional, Scientific and Technical Services 28 22 23 27.3 21.7 279 295 -5.4
Bankruptcies 23 12 16 91.7 43.8 214 225 -4.9
Proposals 5 10 7 -50.0 -28.6 65 70 -7.1
Management of Companies and Enterprises 6 7 5 -14.3 20.0 75 66 13.6
Bankruptcies 5 4 4 25.0 25.0 54 50 8.0
Proposals 1 3 1 -66.7 0.0 21 16 31.3
Administrative and Support,
Waste Management and Remediation Services
17 17 16 0.0 6.3 197 192 2.6
Bankruptcies 16 13 16 23.1 0.0 150 143 4.9
Proposals 1 4 0 -75.0 -- 47 49 -4.1
Educational Services 0 1 5 -100.0 -100.0 41 32 28.1
Bankruptcies 0 1 2 -100.0 -100.0 33 21 57.1
Proposals 0 0 3 -- -100.0 8 11 -27.3
Health Care and Social Assistance 8 6 5 33.3 60.0 77 77 0.0
Bankruptcies 5 5 4 0.0 25.0 60 52 15.4
Proposals 3 1 1 200.0 200.0 17 25 -32.0
Arts, Entertainment and Recreation 7 8 10 -12.5 -30.0 72 74 -2.7
Bankruptcies 6 7 7 -14.3 -14.3 53 60 -11.7
Proposals 1 1 3 0.0 -66.7 19 14 35.7
Accommodation and Food Services 57 34 60 67.6 -5.0 562 660 -14.8
Bankruptcies 47 27 45 74.1 4.4 450 507 -11.2
Proposals 10 7 15 42.9 -33.3 112 153 -26.8
Other Services (except Public Administration) 18 17 11 5.9 63.6 159 186 -14.5
Bankruptcies 16 15 9 6.7 77.8 132 154 -14.3
Proposals 2 2 2 0.0 0.0 27 32 -15.6
Public Administration 2 0 0 -- -- 5 5 0.0
Bankruptcies 2 0 0 -- -- 4 5 -20.0
Proposals 0 0 0 -- -- 1 0 --
Total 354 305 338 16.1 4.7 3,714 4,047 -8.2
Bankruptcies 284 239 248 18.8 14.5 2,811 3,054 -8.0
Proposals 70 66 90 6.1 -22.2 903 993 -9.1
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