Insolvency Statistics in Canada—May 2017

Highlights

Read the report Insolvency Statistics in Canada—May 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 12.2 % in May 2017 from the previous month. Bankruptcies increased by 10.9 % and proposals increased by 13.6 %.

The total number of insolvencies in May 2017 was 0.9 % lower than the total number of insolvencies in May 2016. Consumer insolvencies decreased by 1.1 %, while business insolvencies increased by 4.7 %.

For the 12-month period ending May 31, 2017, the total number of insolvencies decreased by 0.7 % compared with the 12-month period ending May 31, 2016.

Consumer insolvencies for the 12-month period ending May 31, 2017, decreased by 0.5 % compared with the 12-month period ending May 31, 2016. Consumer bankruptcies decreased by 4.9 %, while consumer proposals increased by 4.1 %. The proportion of proposals in consumer insolvencies increased to 50.7 % during the 12-month period ending May 31, 2017, up from 48.5 % during the 12-month period ending May 31, 2016. For the 12-month period ending May 31, 2017, consumer insolvency filings accounted for 97.1 % of total insolvency filings.

Business insolvencies for the 12-month period ending May 31, 2017, decreased by 8.2 % compared with the 12-month period ending May 31, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade; and accommodation and food services. Transportation and warehousing; and mining and oil and gas extraction experienced the biggest increase in insolvencies.

Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in May 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—May 2017.

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