Insolvency Statistics in Canada—October 2017

PDF Version

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

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
October 2017 September 2017 October 2016 Sept. 2017
to
Oct. 2017
Oct. 2016
to
Oct. 2017
10-31-2017 10-31-2016 % Change
Newfoundland and Labrador 255 228 172 11.8 48.3 2,517 2,303 9.3
Bankruptcies 127 118 103 7.6 23.3 1,420 1,529 -7.1
Proposals 128 110 69 16.4 85.5 1,097 774 41.7
Prince Edward Island 53 56 74 -5.4 -28.4 691 833 -17.0
Bankruptcies 28 35 48 -20.0 -41.7 412 524 -21.4
Proposals 25 21 26 19.0 -3.8 279 309 -9.7
Nova Scotia 500 494 505 1.2 -1.0 5,901 5,933 -0.5
Bankruptcies 309 338 362 -8.6 -14.6 3,979 4,180 -4.8
Proposals 191 156 143 22.4 33.6 1,922 1,753 9.6
New Brunswick 373 349 423 6.9 -11.8 4,429 4,429 0.0
Bankruptcies 195 191 266 2.1 -26.7 2,588 2,908 -11.0
Proposals 178 158 157 12.7 13.4 1,841 1,521 21.0
Quebec 3,852 3,628 3,793 6.2 1.6 43,740 45,318 -3.5
Bankruptcies 2,123 2,050 2,215 3.6 -4.2 24,515 25,988 -5.7
Proposals 1,729 1,578 1,578 9.6 9.6 19,225 19,330 -0.5
Ontario 3,349 3,183 3,304 5.2 1.4 39,270 40,894 -4.0
Bankruptcies 1,394 1,333 1,444 4.6 -3.5 16,223 17,972 -9.7
Proposals 1,955 1,850 1,860 5.7 5.1 23,047 22,922 0.5
Manitoba 290 224 260 29.5 11.5 2,634 2,619 0.6
Bankruptcies 155 120 135 29.2 14.8 1,396 1,448 -3.6
Proposals 135 104 125 29.8 8.0 1,238 1,171 5.7
Saskatchewan 306 296 251 3.4 21.9 3,275 2,962 10.6
Bankruptcies 143 108 119 32.4 20.2 1,489 1,500 -0.7
Proposals 163 188 132 -13.3 23.5 1,786 1,462 22.2
Alberta 1,216 1,119 1,105 8.7 10.0 13,525 12,924 4.7
Bankruptcies 461 409 462 12.7 -0.2 5,250 5,413 -3.0
Proposals 755 710 643 6.3 17.4 8,275 7,511 10.2
British Columbia 778 773 807 0.6 -3.6 10,105 11,279 -10.4
Bankruptcies 298 329 346 -9.4 -13.9 4,313 5,058 -14.7
Proposals 480 444 461 8.1 4.1 5,792 6,221 -6.9
Northwest Territories 9 16 5 -43.8 80.0 72 66 9.1
Bankruptcies 8 11 3 -27.3 166.7 48 35 37.1
Proposals 1 5 2 -80.0 -50.0 24 31 -22.6
Yukon 3 2 4 50.0 -25.0 32 54 -40.7
Bankruptcies 3 0 1 n/a 200.0 18 27 -33.3
Proposals 0 2 3 -100.0 -100.0 14 27 -48.1
Nunavut 1 0 2 n/a -50.0 1 12 -91.7
Bankruptcies 0 0 0 n/a n/a 0 5 -100.0
Proposals 1 0 2 n/a -50.0 1 7 -85.7
Canada 10,985 10,368 10,705 6.0 2.6 126,192 129,626 -2.6
Bankruptcies 5,244 5,042 5,504 4.0 -4.7 61,651 66,587 -7.4
Proposals 5,741 5,326 5,201 7.8 10.4 64,541 63,039 2.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
October 2017 September 2017 October 2016 Sept. 2017
to
Oct. 2017
Oct. 2016
to
Oct. 2017
10-31-2017 10-31-2016 % Change
Newfoundland and Labrador 252 226 171 11.5 47.4 2,479 2,278 8.8
Bankruptcies 127 116 102 9.5 24.5 1,394 1,511 -7.7
Proposals 125 110 69 13.6 81.2 1,085 767 41.5
Prince Edward Island 53 55 74 -3.6 -28.4 678 820 -17.3
Bankruptcies 28 34 48 -17.6 -41.7 402 516 -22.1
Proposals 25 21 26 19.0 -3.8 276 304 -9.2
Nova Scotia 496 491 498 1.0 -0.4 5,847 5,856 -0.2
Bankruptcies 306 335 358 -8.7 -14.5 3,932 4,113 -4.4
Proposals 190 156 140 21.8 35.7 1,915 1,743 9.9
New Brunswick 367 349 418 5.2 -12.2 4,378 4,364 0.3
Bankruptcies 190 191 262 -0.5 -27.5 2,544 2,856 -10.9
Proposals 177 158 156 12.0 13.5 1,834 1,508 21.6
Quebec 3,664 3,469 3,631 5.6 0.9 41,658 43,088 -3.3
Bankruptcies 1,978 1,933 2,093 2.3 -5.5 22,930 24,295 -5.6
Proposals 1,686 1,536 1,538 9.8 9.6 18,728 18,793 -0.3
Ontario 3,264 3,125 3,216 4.4 1.5 38,399 39,915 -3.8
Bankruptcies 1,327 1,294 1,380 2.6 -3.8 15,585 17,236 -9.6
Proposals 1,937 1,831 1,836 5.8 5.5 22,814 22,679 0.6
Manitoba 289 223 259 29.6 11.6 2,591 2,573 0.7
Bankruptcies 154 120 134 28.3 14.9 1,364 1,414 -3.5
Proposals 135 103 125 31.1 8.0 1,227 1,159 5.9
Saskatchewan 289 292 243 -1.0 18.9 3,145 2,846 10.5
Bankruptcies 129 104 112 24.0 15.2 1,392 1,408 -1.1
Proposals 160 188 131 -14.9 22.1 1,753 1,438 21.9
Alberta 1,199 1,111 1,081 7.9 10.9 13,326 12,774 4.3
Bankruptcies 450 404 440 11.4 2.3 5,121 5,298 -3.3
Proposals 749 707 641 5.9 16.8 8,205 7,476 9.8
British Columbia 773 763 796 1.3 -2.9 9,952 11,067 -10.1
Bankruptcies 294 320 340 -8.1 -13.5 4,184 4,907 -14.7
Proposals 479 443 456 8.1 5.0 5,768 6,160 -6.4
Northwest Territories 9 16 5 -43.8 80.0 71 66 7.6
Bankruptcies 8 11 3 -27.3 166.7 47 35 34.3
Proposals 1 5 2 -80.0 -50.0 24 31 -22.6
Yukon 3 2 4 50.0 -25.0 32 54 -40.7
Bankruptcies 3 0 1 n/a 200.0 18 27 -33.3
Proposals 0 2 3 -100.0 -100.0 14 27 -48.1
Nunavut 1 0 2 n/a -50.0 1 11 -90.9
Bankruptcies 0 0 0 n/a n/a 0 4 -100.0
Proposals 1 0 2 n/a -50.0 1 7 -85.7
Canada 10,659 10,122 10,398 5.3 2.5 122,557 125,712 -2.5
Bankruptcies 4,994 4,862 5,273 2.7 -5.3 58,913 63,620 -7.4
Proposals 5,665 5,260 5,125 7.7 10.5 63,644 62,092 2.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
October 2017 September 2017 October 2016 Sept. 2017
to
Oct. 2017
Oct. 2016
to
Oct. 2017
10-31-2017 10-31-2016 % Change
Newfoundland and Labrador 3 2 1 50.0 200.0 38 25 52.0
Bankruptcies 0 2 1 -100.0 -100.0 26 18 44.4
Proposals 3 0 0 n/a n/a 12 7 71.4
Prince Edward Island 0 1 0 -100.0 n/a 13 13 0.0
Bankruptcies 0 1 0 -100.0 n/a 10 8 25.0
Proposals 0 0 0 n/a n/a 3 5 -40.0
Nova Scotia 4 3 7 33.3 -42.9 54 77 -29.9
Bankruptcies 3 3 4 0.0 -25.0 47 67 -29.9
Proposals 1 0 3 n/a -66.7 7 10 -30.0
New Brunswick 6 0 5 n/a 20.0 51 65 -21.5
Bankruptcies 5 0 4 n/a 25.0 44 52 -15.4
Proposals 1 0 1 n/a 0.0 7 13 -46.2
Quebec 188 159 162 18.2 16.0 2,082 2,230 -6.6
Bankruptcies 145 117 122 23.9 18.9 1,585 1,693 -6.4
Proposals 43 42 40 2.4 7.5 497 537 -7.4
Ontario 85 58 88 46.6 -3.4 871 979 -11.0
Bankruptcies 67 39 64 71.8 4.7 638 736 -13.3
Proposals 18 19 24 -5.3 -25.0 233 243 -4.1
Manitoba 1 1 1 0.0 0.0 43 46 -6.5
Bankruptcies 1 0 1 n/a 0.0 32 34 -5.9
Proposals 0 1 0 -100.0 n/a 11 12 -8.3
Saskatchewan 17 4 8 325.0 112.5 130 116 12.1
Bankruptcies 14 4 7 250.0 100.0 97 92 5.4
Proposals 3 0 1 n/a 200.0 33 24 37.5
Alberta 17 8 24 112.5 -29.2 199 150 32.7
Bankruptcies 11 5 22 120.0 -50.0 129 115 12.2
Proposals 6 3 2 100.0 200.0 70 35 100.0
British Columbia 5 10 11 -50.0 -54.5 153 212 -27.8
Bankruptcies 4 9 6 -55.6 -33.3 129 151 -14.6
Proposals 1 1 5 0.0 -80.0 24 61 -60.7
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a 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 326 246 307 32.5 6.2 3,635 3,914 -7.1
Bankruptcies 250 180 231 38.9 8.2 2,738 2,967 -7.7
Proposals 76 66 76 15.2 0.0 897 947 -5.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
October 2017 September 2017 October 2016 Sept. 2017
to
Oct. 2017
Oct. 2016
to
Oct. 2017
10-31-2017 10-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 1 7 12 -85.7 -91.7 75 75 0.0
Bankruptcies 1 3 8 -66.7 -87.5 57 55 3.6
Proposals 0 4 4 -100.0 -100.0 18 20 -10.0
Mining and Oil and Gas Extraction 4 1 11 300.0 -63.6 56 62 -9.7
Bankruptcies 3 1 10 200.0 -70.0 39 43 -9.3
Proposals 1 0 1 n/a 0.0 17 19 -10.5
Utilities 1 0 0 n/a n/a 9 7 28.6
Bankruptcies 1 0 0 n/a n/a 7 2 250.0
Proposals 0 0 0 n/a n/a 2 5 -60.0
Construction 70 48 60 45.8 16.7 668 726 -8.0
Bankruptcies 50 36 44 38.9 13.6 487 541 -10.0
Proposals 20 12 16 66.7 25.0 181 185 -2.2
Manufacturing 31 22 27 40.9 14.8 324 318 1.9
Bankruptcies 26 12 17 116.7 52.9 233 234 -0.4
Proposals 5 10 10 -50.0 -50.0 91 84 8.3
Wholesale Trade 9 11 18 -18.2 -50.0 169 182 -7.1
Bankruptcies 6 10 15 -40.0 -60.0 123 145 -15.2
Proposals 3 1 3 200.0 0.0 46 37 24.3
Retail Trade 37 26 21 42.3 76.2 408 471 -13.4
Bankruptcies 27 22 17 22.7 58.8 305 352 -13.4
Proposals 10 4 4 150.0 150.0 103 119 -13.4
Transportation and Warehousing 17 16 19 6.3 -10.5 238 216 10.2
Bankruptcies 13 12 14 8.3 -7.1 185 169 9.5
Proposals 4 4 5 0.0 -20.0 53 47 12.8
Information and Cultural Industries 4 7 4 -42.9 0.0 72 66 9.1
Bankruptcies 1 5 2 -80.0 -50.0 48 57 -15.8
Proposals 3 2 2 50.0 50.0 24 9 166.7
Finance and Insurance 9 3 4 200.0 125.0 65 70 -7.1
Bankruptcies 7 3 4 133.3 75.0 54 57 -5.3
Proposals 2 0 0 n/a n/a 11 13 -15.4
Real Estate and Rental and Leasing 7 13 7 -46.2 0.0 141 156 -9.6
Bankruptcies 6 10 4 -40.0 50.0 100 104 -3.8
Proposals 1 3 3 -66.7 -66.7 41 52 -21.2
Professional, Scientific and Technical Services 22 22 19 0.0 15.8 271 284 -4.6
Bankruptcies 18 17 14 5.9 28.6 216 216 0.0
Proposals 4 5 5 -20.0 -20.0 55 68 -19.1
Management of Companies and Enterprises 7 7 8 0.0 -12.5 75 73 2.7
Bankruptcies 4 7 6 -42.9 -33.3 58 53 9.4
Proposals 3 0 2 n/a 50.0 17 20 -15.0
Administrative and Support, Waste Management and Remediation Services 10 8 17 25.0 -41.2 164 192 -14.6
Bankruptcies 7 5 16 40.0 -56.3 121 142 -14.8
Proposals 3 3 1 0.0 200.0 43 50 -14.0
Educational Services 4 0 3 n/a 33.3 39 35 11.4
Bankruptcies 3 0 3 n/a 0.0 32 23 39.1
Proposals 1 0 0 n/a n/a 7 12 -41.7
Health Care and Social Assistance 7 3 8 133.3 -12.5 75 69 8.7
Bankruptcies 7 2 4 250.0 75.0 61 49 24.5
Proposals 0 1 4 -100.0 -100.0 14 20 -30.0
Arts, Entertainment and Recreation 9 5 9 80.0 0.0 73 81 -9.9
Bankruptcies 7 1 5 600.0 40.0 53 65 -18.5
Proposals 2 4 4 -50.0 -50.0 20 16 25.0
Accommodation and Food Services 58 34 47 70.6 23.4 532 657 -19.0
Bankruptcies 46 22 37 109.1 24.3 410 513 -20.1
Proposals 12 12 10 0.0 20.0 122 144 -15.3
Other Services (except Public Administration) 19 12 12 58.3 58.3 176 170 3.5
Bankruptcies 17 11 11 54.5 54.5 145 144 0.7
Proposals 2 1 1 100.0 100.0 31 26 19.2
Public Administration 0 1 1 -100.0 -100.0 5 4 25.0
Bankruptcies 0 1 0 -100.0 n/a 4 3 33.3
Proposals 0 0 1 n/a -100.0 1 1 0.0
Total 326 246 307 32.5 6.2 3,635 3,914 -7.1
Bankruptcies 250 180 231 38.9 8.2 2,738 2,967 -7.7
Proposals 76 66 76 15.2 0.0 897 947 -5.3
Date modified: