Insolvency Statistics in Canada—June 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
June 2017 May 2017 June 2016 May 2017
to
June 2017
June 2016
to
June 2017
06-30-2017 06-30-2016 % Change
Newfoundland and Labrador 217 216 251 0.5 -13.5 2,436 2,188 11.3
Bankruptcies 126 121 166 4.1 -24.1 1,468 1,582 -7.2
Proposals 91 95 85 -4.2 7.1 968 606 59.7
Prince Edward Island 60 50 73 20.0 -17.8 752 827 -9.1
Bankruptcies 42 33 35 27.3 20.0 466 519 -10.2
Proposals 18 17 38 5.9 -52.6 286 308 -7.1
Nova Scotia 483 552 563 -12.5 -14.2 6,003 5,641 6.4
Bankruptcies 348 369 392 -5.7 -11.2 4,128 3,996 3.3
Proposals 135 183 171 -26.2 -21.1 1,875 1,645 14.0
New Brunswick 381 429 386 -11.2 -1.3 4,464 4,457 0.2
Bankruptcies 223 251 250 -11.2 -10.8 2,742 2,952 -7.1
Proposals 158 178 136 -11.2 16.2 1,722 1,505 14.4
Quebec 3,724 4,116 3,926 -9.5 -5.1 44,096 45,961 -4.1
Bankruptcies 2,057 2,371 2,227 -13.2 -7.6 24,941 26,337 -5.3
Proposals 1,667 1,745 1,699 -4.5 -1.9 19,155 19,624 -2.4
Ontario 3,368 3,617 3,614 -6.9 -6.8 39,522 41,229 -4.1
Bankruptcies 1,402 1,564 1,610 -10.4 -12.9 16,668 18,402 -9.4
Proposals 1,966 2,053 2,004 -4.2 -1.9 22,854 22,827 0.1
Manitoba 241 209 247 15.3 -2.4 2,595 2,450 5.9
Bankruptcies 119 123 145 -3.3 -17.9 1,392 1,380 0.9
Proposals 122 86 102 41.9 19.6 1,203 1,070 12.4
Saskatchewan 267 304 291 -12.2 -8.2 3,186 2,722 17.0
Bankruptcies 130 158 133 -17.7 -2.3 1,504 1,425 5.5
Proposals 137 146 158 -6.2 -13.3 1,682 1,297 29.7
Alberta 1,175 1,208 1,219 -2.7 -3.6 13,361 11,973 11.6
Bankruptcies 447 475 491 -5.9 -9.0 5,346 5,118 4.5
Proposals 728 733 728 -0.7 0.0 8,015 6,855 16.9
British Columbia 928 952 1,016 -2.5 -8.7 10,332 11,769 -12.2
Bankruptcies 396 428 431 -7.5 -8.1 4,525 5,444 -16.9
Proposals 532 524 585 1.5 -9.1 5,807 6,325 -8.2
Northwest Territories 2 9 5 -77.8 -60.0 63 58 8.6
Bankruptcies 2 4 3 -50.0 -33.3 34 32 6.3
Proposals 0 5 2 -100.0 -100.0 29 26 11.5
Yukon 2 3 9 -33.3 -77.8 38 51 -25.5
Bankruptcies 2 2 3 0.0 -33.3 20 27 -25.9
Proposals 0 1 6 -100.0 -100.0 18 24 -25.0
Nunavut 0 0 0 n/a n/a 3 10 -70.0
Bankruptcies 0 0 0 n/a n/a 1 4 -75.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 10,848 11,665 11,600 -7.0 -6.5 126,851 129,336 -1.9
Bankruptcies 5,294 5,899 5,886 -10.3 -10.1 63,235 67,218 -5.9
Proposals 5,554 5,766 5,714 -3.7 -2.8 63,616 62,118 2.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2017 May 2017 June 2016 May 2017
to
June 2017
June 2016
to
June 2017
06-30-2017 06-30-2016 % Change
Newfoundland and Labrador 214 214 250 0.0 -14.4 2,401 2,161 11.1
Bankruptcies 123 120 165 2.5 -25.5 1,442 1,563 -7.7
Proposals 91 94 85 -3.2 7.1 959 598 60.4
Prince Edward Island 58 48 71 20.8 -18.3 738 812 -9.1
Bankruptcies 40 33 34 21.2 17.6 455 510 -10.8
Proposals 18 15 37 20.0 -51.4 283 302 -6.3
Nova Scotia 477 547 554 -12.8 -13.9 5,944 5,565 6.8
Bankruptcies 342 365 384 -6.3 -10.9 4,077 3,929 3.8
Proposals 135 182 170 -25.8 -20.6 1,867 1,636 14.1
New Brunswick 374 421 383 -11.2 -2.3 4,406 4,382 0.5
Bankruptcies 217 246 248 -11.8 -12.5 2,694 2,892 -6.8
Proposals 157 175 135 -10.3 16.3 1,712 1,490 14.9
Quebec 3,542 3,924 3,743 -9.7 -5.4 42,003 43,715 -3.9
Bankruptcies 1,916 2,208 2,091 -13.2 -8.4 23,355 24,626 -5.2
Proposals 1,626 1,716 1,652 -5.2 -1.6 18,648 19,089 -2.3
Ontario 3,315 3,536 3,531 -6.3 -6.1 38,646 40,201 -3.9
Bankruptcies 1,364 1,501 1,542 -9.1 -11.5 16,023 17,624 -9.1
Proposals 1,951 2,035 1,989 -4.1 -1.9 22,623 22,577 0.2
Manitoba 238 204 241 16.7 -1.2 2,549 2,398 6.3
Bankruptcies 117 118 141 -0.8 -17.0 1,355 1,345 0.7
Proposals 121 86 100 40.7 21.0 1,194 1,053 13.4
Saskatchewan 257 285 284 -9.8 -9.5 3,062 2,585 18.5
Bankruptcies 123 143 126 -14.0 -2.4 1,411 1,323 6.7
Proposals 134 142 158 -5.6 -15.2 1,651 1,262 30.8
Alberta 1,157 1,185 1,202 -2.4 -3.7 13,168 11,843 11.2
Bankruptcies 435 460 475 -5.4 -8.4 5,207 5,027 3.6
Proposals 722 725 727 -0.4 -0.7 7,961 6,816 16.8
British Columbia 918 936 993 -1.9 -7.6 10,157 11,532 -11.9
Bankruptcies 387 416 413 -7.0 -6.3 4,386 5,270 -16.8
Proposals 531 520 580 2.1 -8.4 5,771 6,262 -7.8
Northwest Territories 2 8 5 -75.0 -60.0 62 58 6.9
Bankruptcies 2 3 3 -33.3 -33.3 33 32 3.1
Proposals 0 5 2 -100.0 -100.0 29 26 11.5
Yukon 2 3 9 -33.3 -77.8 38 51 -25.5
Bankruptcies 2 2 3 0.0 -33.3 20 27 -25.9
Proposals 0 1 6 -100.0 -100.0 18 24 -25.0
Nunavut 0 0 0 n/a n/a 3 9 -66.7
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 10,554 11,311 11,266 -6.7 -6.3 123,177 125,312 -1.7
Bankruptcies 5,068 5,615 5,625 -9.7 -9.9 60,459 64,171 -5.8
Proposals 5,486 5,696 5,641 -3.7 -2.7 62,718 61,141 2.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2017 May 2017 June 2016 May 2017
to
June 2017
June 2016
to
June 2017
06-30-2017 06-30-2016 % Change
Newfoundland and Labrador 3 2 1 50.0 200.0 35 27 29.6
Bankruptcies 3 1 1 200.0 200.0 26 19 36.8
Proposals 0 1 0 -100.0 n/a 9 8 12.5
Prince Edward Island 2 2 2 0.0 0.0 14 15 -6.7
Bankruptcies 2 0 1 n/a 100.0 11 9 22.2
Proposals 0 2 1 -100.0 -100.0 3 6 -50.0
Nova Scotia 6 5 9 20.0 -33.3 59 76 -22.4
Bankruptcies 6 4 8 50.0 -25.0 51 67 -23.9
Proposals 0 1 1 -100.0 -100.0 8 9 -11.1
New Brunswick 7 8 3 -12.5 133.3 58 75 -22.7
Bankruptcies 6 5 2 20.0 200.0 48 60 -20.0
Proposals 1 3 1 -66.7 0.0 10 15 -33.3
Quebec 182 192 183 -5.2 -0.5 2,093 2,246 -6.8
Bankruptcies 141 163 136 -13.5 3.7 1,586 1,711 -7.3
Proposals 41 29 47 41.4 -12.8 507 535 -5.2
Ontario 53 81 83 -34.6 -36.1 876 1,028 -14.8
Bankruptcies 38 63 68 -39.7 -44.1 645 778 -17.1
Proposals 15 18 15 -16.7 0.0 231 250 -7.6
Manitoba 3 5 6 -40.0 -50.0 46 52 -11.5
Bankruptcies 2 5 4 -60.0 -50.0 37 35 5.7
Proposals 1 0 2 n/a -50.0 9 17 -47.1
Saskatchewan 10 19 7 -47.4 42.9 124 137 -9.5
Bankruptcies 7 15 7 -53.3 0.0 93 102 -8.8
Proposals 3 4 0 -25.0 n/a 31 35 -11.4
Alberta 18 23 17 -21.7 5.9 193 130 48.5
Bankruptcies 12 15 16 -20.0 -25.0 139 91 52.7
Proposals 6 8 1 -25.0 500.0 54 39 38.5
British Columbia 10 16 23 -37.5 -56.5 175 237 -26.2
Bankruptcies 9 12 18 -25.0 -50.0 139 174 -20.1
Proposals 1 4 5 -75.0 -80.0 36 63 -42.9
Northwest Territories 0 1 0 -100.0 n/a 1 0 n/a
Bankruptcies 0 1 0 -100.0 n/a 1 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 294 354 334 -16.9 -12.0 3,674 4,024 -8.7
Bankruptcies 226 284 261 -20.4 -13.4 2,776 3,047 -8.9
Proposals 68 70 73 -2.9 -6.8 898 977 -8.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
June 2017 May 2017 June 2016 May 2017
to
June 2017
June 2016
to
June 2017
06-30-2017 06-30-2016 % Change
Agriculture, Forestry, Fishing and Hunting 2 9 3 -77.8 -33.3 82 78 5.1
Bankruptcies 2 7 3 -71.4 -33.3 59 55 7.3
Proposals 0 2 0 -100.0 n/a 23 23 0.0
Mining and Oil and Gas Extraction 2 6 7 -66.7 -71.4 70 46 52.2
Bankruptcies 2 4 7 -50.0 -71.4 48 33 45.5
Proposals 0 2 0 -100.0 n/a 22 13 69.2
Utilities 0 0 2 n/a -100.0 8 12 -33.3
Bankruptcies 0 0 0 n/a n/a 6 5 20.0
Proposals 0 0 2 n/a -100.0 2 7 -71.4
Construction 59 71 42 -16.9 40.5 686 734 -6.5
Bankruptcies 47 55 33 -14.5 42.4 498 557 -10.6
Proposals 12 16 9 -25.0 33.3 188 177 6.2
Manufacturing 30 27 23 11.1 30.4 313 350 -10.6
Bankruptcies 23 20 17 15.0 35.3 224 261 -14.2
Proposals 7 7 6 0.0 16.7 89 89 0.0
Wholesale Trade 17 16 13 6.3 30.8 181 178 1.7
Bankruptcies 14 13 10 7.7 40.0 138 137 0.7
Proposals 3 3 3 0.0 0.0 43 41 4.9
Retail Trade 30 39 37 -23.1 -18.9 399 527 -24.3
Bankruptcies 23 30 29 -23.3 -20.7 296 394 -24.9
Proposals 7 9 8 -22.2 -12.5 103 133 -22.6
Transportation and Warehousing 16 25 30 -36.0 -46.7 238 213 11.7
Bankruptcies 14 20 26 -30.0 -46.2 184 164 12.2
Proposals 2 5 4 -60.0 -50.0 54 49 10.2
Information and Cultural Industries 5 3 3 66.7 66.7 70 68 2.9
Bankruptcies 3 2 2 50.0 50.0 50 59 -15.3
Proposals 2 1 1 100.0 100.0 20 9 122.2
Finance and Insurance 5 9 8 -44.4 -37.5 60 68 -11.8
Bankruptcies 5 8 6 -37.5 -16.7 57 51 11.8
Proposals 0 1 2 -100.0 -100.0 3 17 -82.4
Real Estate and Rental and Leasing 14 6 9 133.3 55.6 143 156 -8.3
Bankruptcies 10 5 8 100.0 25.0 103 109 -5.5
Proposals 4 1 1 300.0 300.0 40 47 -14.9
Professional, Scientific and Technical Services 23 28 35 -17.9 -34.3 267 302 -11.6
Bankruptcies 17 23 26 -26.1 -34.6 205 231 -11.3
Proposals 6 5 9 20.0 -33.3 62 71 -12.7
Management of Companies and Enterprises 10 6 5 66.7 100.0 80 64 25.0
Bankruptcies 7 5 5 40.0 40.0 56 50 12.0
Proposals 3 1 0 200.0 n/a 24 14 71.4
Administrative and Support, Waste Management and Remediation Services 8 17 20 -52.9 -60.0 185 194 -4.6
Bankruptcies 6 16 12 -62.5 -50.0 144 140 2.9
Proposals 2 1 8 100.0 -75.0 41 54 -24.1
Educational Services 2 0 4 n/a -50.0 39 34 14.7
Bankruptcies 2 0 3 n/a -33.3 32 22 45.5
Proposals 0 0 1 n/a -100.0 7 12 -41.7
Health Care and Social Assistance 9 8 8 12.5 12.5 78 75 4.0
Bankruptcies 6 5 7 20.0 -14.3 59 54 9.3
Proposals 3 3 1 0.0 200.0 19 21 -9.5
Arts, Entertainment and Recreation 5 7 9 -28.6 -44.4 68 80 -15.0
Bankruptcies 3 6 6 -50.0 -50.0 50 64 -21.9
Proposals 2 1 3 100.0 -33.3 18 16 12.5
Accommodation and Food Services 44 57 67 -22.8 -34.3 539 659 -18.2
Bankruptcies 30 47 53 -36.2 -43.4 427 506 -15.6
Proposals 14 10 14 40.0 0.0 112 153 -26.8
Other Services (except Public Administration) 13 18 9 -27.8 44.4 163 181 -9.9
Bankruptcies 12 16 8 -25.0 50.0 136 150 -9.3
Proposals 1 2 1 -50.0 0.0 27 31 -12.9
Public Administration 0 2 0 -100.0 n/a 5 5 0.0
Bankruptcies 0 2 0 -100.0 n/a 4 5 -20.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Total 294 354 334 -16.9 -12.0 3,674 4,024 -8.7
Bankruptcies 226 284 261 -20.4 -13.4 2,776 3,047 -8.9
Proposals 68 70 73 -2.9 -6.8 898 977 -8.1
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