Insolvency Statistics in Canada—Third Quarter of 2017

Tables

Glossary

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.
Census Metropolitan Area (CMA):
Each area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000. For Statistics Canada's geographical definitions of the CMAs, go to CMA and CA: Detailed definition.
Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
Economic Region (ER):
Standard geographical units created for analysis of regional economic activity. For Statistics Canada's geographical definitions of ERs, go to Economic region (ER).
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
Q3 2017 Q2 2017 Q3 2016 Q2 2017 to Q3 2017 Q3 2016 to Q3 2017 09-30-2017 09-30-2016 % Change
Newfoundland and Labrador 599 655 601 -8.5 -0.3 2,434 2,322 4.8
Bankruptcies 314 381 386 -17.6 -18.7 1,396 1,568 -11.0
Proposals 285 274 215 4.0 32.6 1,038 754 37.7
Prince Edward Island 169 167 209 1.2 -19.1 712 838 -15.0
Bankruptcies 100 113 134 -11.5 -25.4 432 527 -18.0
Proposals 69 54 75 27.8 -8.0 280 311 -10.0
Nova Scotia 1,496 1,566 1,593 -4.5 -6.1 5,906 5,922 -0.3
Bankruptcies 994 1,104 1,090 -10.0 -8.8 4,032 4,172 -3.4
Proposals 502 462 503 8.7 -0.2 1,874 1,750 7.1
New Brunswick 1,126 1,197 1,111 -5.9 1.4 4,479 4,370 2.5
Bankruptcies 632 724 715 -12.7 -11.6 2,659 2,880 -7.7
Proposals 494 473 396 4.4 24.7 1,820 1,490 22.1
Quebec 10,311 11,422 10,726 -9.7 -3.9 43,681 45,586 -4.2
Bankruptcies 5,823 6,497 6,157 -10.4 -5.4 24,607 26,060 -5.6
Proposals 4,488 4,925 4,569 -8.9 -1.8 19,074 19,526 -2.3
Ontario 9,397 10,300 9,694 -8.8 -3.1 39,225 41,071 -4.5
Bankruptcies 3,783 4,376 4,178 -13.6 -9.5 16,273 18,082 -10.0
Proposals 5,614 5,924 5,516 -5.2 1.8 22,952 22,989 -0.2
Manitoba 644 637 635 1.1 1.4 2,604 2,546 2.3
Bankruptcies 345 346 361 -0.3 -4.4 1,376 1,423 -3.3
Proposals 299 291 274 2.7 9.1 1,228 1,123 9.3
Saskatchewan 823 853 789 -3.5 4.3 3,220 2,912 10.6
Bankruptcies 332 419 371 -20.8 -10.5 1,465 1,489 -1.6
Proposals 491 434 418 13.1 17.5 1,755 1,423 23.3
Alberta 3,331 3,426 3,278 -2.8 1.6 13,414 12,743 5.3
Bankruptcies 1,210 1,343 1,305 -9.9 -7.3 5,251 5,338 -1.6
Proposals 2,121 2,083 1,973 1.8 7.5 8,163 7,405 10.2
British Columbia 2,397 2,660 2,595 -9.9 -7.6 10,134 11,405 -11.1
Bankruptcies 961 1,190 1,125 -19.2 -14.6 4,361 5,152 -15.4
Proposals 1,436 1,470 1,470 -2.3 -2.3 5,773 6,253 -7.7
Northwest Territories 24 16 19 50.0 26.3 68 66 3.0
Bankruptcies 18 10 9 80.0 100.0 43 36 19.4
Proposals 6 6 10 0.0 -40.0 25 30 -16.7
Yukon 8 8 13 0.0 -38.5 33 51 -35.3
Bankruptcies 3 7 7 -57.1 -57.1 16 26 -38.5
Proposals 5 1 6 400.0 -16.7 17 25 -32.0
Nunavut 0 0 1 n/a -100.0 2 11 -81.8
Bankruptcies 0 0 1 n/a -100.0 0 5 -100.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 30,325 32,907 31,264 -7.8 -3.0 125,912 129,843 -3.0
Bankruptcies 14,515 16,510 15,839 -12.1 -8.4 61,911 66,758 -7.3
Proposals 15,810 16,397 15,425 -3.6 2.5 64,001 63,085 1.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q3 2017 Q2 2017 Q3 2016 Q2 2017 to Q3 2017 Q3 2016 to Q3 2017 09-30-2017 09-30-2016 % Change
Newfoundland and Labrador 592 646 595 -8.4 -0.5 2,398 2,297 4.4
Bankruptcies 308 373 381 -17.4 -19.2 1,369 1,550 -11.7
Proposals 284 273 214 4.0 32.7 1,029 747 37.8
Prince Edward Island 167 163 206 2.5 -18.9 699 823 -15.1
Bankruptcies 98 111 131 -11.7 -25.2 422 517 -18.4
Proposals 69 52 75 32.7 -8.0 277 306 -9.5
Nova Scotia 1,479 1,553 1,574 -4.8 -6.0 5,849 5,848 0.0
Bankruptcies 980 1,092 1,073 -10.3 -8.7 3,984 4,106 -3.0
Proposals 499 461 501 8.2 -0.4 1,865 1,742 7.1
New Brunswick 1,120 1,174 1,097 -4.6 2.1 4,429 4,303 2.9
Bankruptcies 626 706 704 -11.3 -11.1 2,616 2,826 -7.4
Proposals 494 468 393 5.6 25.7 1,813 1,477 22.7
Quebec 9,871 10,877 10,249 -9.2 -3.7 41,625 43,334 -3.9
Bankruptcies 5,495 6,060 5,805 -9.3 -5.3 23,045 24,353 -5.4
Proposals 4,376 4,817 4,444 -9.2 -1.5 18,580 18,981 -2.1
Ontario 9,182 10,090 9,477 -9.0 -3.1 38,351 40,101 -4.4
Bankruptcies 3,626 4,218 4,011 -14.0 -9.6 15,638 17,352 -9.9
Proposals 5,556 5,872 5,466 -5.4 1.6 22,713 22,749 -0.2
Manitoba 637 627 625 1.6 1.9 2,561 2,497 2.6
Bankruptcies 341 337 352 1.2 -3.1 1,344 1,387 -3.1
Proposals 296 290 273 2.1 8.4 1,217 1,110 9.6
Saskatchewan 801 812 764 -1.4 4.8 3,099 2,792 11.0
Bankruptcies 314 387 350 -18.9 -10.3 1,375 1,397 -1.6
Proposals 487 425 414 14.6 17.6 1,724 1,395 23.6
Alberta 3,283 3,366 3,243 -2.5 1.2 13,208 12,609 4.8
Bankruptcies 1,182 1,302 1,278 -9.2 -7.5 5,111 5,238 -2.4
Proposals 2,101 2,064 1,965 1.8 6.9 8,097 7,371 9.8
British Columbia 2,371 2,623 2,553 -9.6 -7.1 9,975 11,176 -10.7
Bankruptcies 939 1,159 1,095 -19.0 -14.2 4,230 4,990 -15.2
Proposals 1,432 1,464 1,458 -2.2 -1.8 5,745 6,186 -7.1
Northwest Territories 24 15 19 60.0 26.3 67 66 1.5
Bankruptcies 18 9 9 100.0 100.0 42 36 16.7
Proposals 6 6 10 0.0 -40.0 25 30 -16.7
Yukon 8 8 13 0.0 -38.5 33 51 -35.3
Bankruptcies 3 7 7 -57.1 -57.1 16 26 -38.5
Proposals 5 1 6 400.0 -16.7 17 25 -32.0
Nunavut 0 0 1 n/a -100.0 2 10 -80.0
Bankruptcies 0 0 1 n/a -100.0 0 4 -100.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 29,535 31,954 30,416 -7.6 -2.9 122,296 125,907 -2.9
Bankruptcies 13,930 15,761 15,197 -11.6 -8.3 59,192 63,782 -7.2
Proposals 15,605 16,193 15,219 -3.6 2.5 63,104 62,125 1.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q3 2017 Q2 2017 Q3 2016 Q2 2017 to Q3 2017 Q3 2016 to Q3 2017 09-30-2017 09-30-2016 % Change
Newfoundland and Labrador 7 9 6 -22.2 16.7 36 25 44.0
Bankruptcies 6 8 5 -25.0 20.0 27 18 50.0
Proposals 1 1 1 0.0 0.0 9 7 28.6
Prince Edward Island 2 4 3 -50.0 -33.3 13 15 -13.3
Bankruptcies 2 2 3 0.0 -33.3 10 10 0.0
Proposals 0 2 0 -100.0 n/a 3 5 -40.0
Nova Scotia 17 13 19 30.8 -10.5 57 74 -23.0
Bankruptcies 14 12 17 16.7 -17.6 48 66 -27.3
Proposals 3 1 2 200.0 50.0 9 8 12.5
New Brunswick 6 23 14 -73.9 -57.1 50 67 -25.4
Bankruptcies 6 18 11 -66.7 -45.5 43 54 -20.4
Proposals 0 5 3 -100.0 -100.0 7 13 -46.2
Quebec 440 545 477 -19.3 -7.8 2,056 2,252 -8.7
Bankruptcies 328 437 352 -24.9 -6.8 1,562 1,707 -8.5
Proposals 112 108 125 3.7 -10.4 494 545 -9.4
Ontario 215 210 217 2.4 -0.9 874 970 -9.9
Bankruptcies 157 158 167 -0.6 -6.0 635 730 -13.0
Proposals 58 52 50 11.5 16.0 239 240 -0.4
Manitoba 7 10 10 -30.0 -30.0 43 49 -12.2
Bankruptcies 4 9 9 -55.6 -55.6 32 36 -11.1
Proposals 3 1 1 200.0 200.0 11 13 -15.4
Saskatchewan 22 41 25 -46.3 -12.0 121 120 0.8
Bankruptcies 18 32 21 -43.8 -14.3 90 92 -2.2
Proposals 4 9 4 -55.6 0.0 31 28 10.7
Alberta 48 60 35 -20.0 37.1 206 134 53.7
Bankruptcies 28 41 27 -31.7 3.7 140 100 40.0
Proposals 20 19 8 5.3 150.0 66 34 94.1
British Columbia 26 37 42 -29.7 -38.1 159 229 -30.6
Bankruptcies 22 31 30 -29.0 -26.7 131 162 -19.1
Proposals 4 6 12 -33.3 -66.7 28 67 -58.2
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 790 953 848 -17.1 -6.8 3,616 3,936 -8.1
Bankruptcies 585 749 642 -21.9 -8.9 2,719 2,976 -8.6
Proposals 205 204 206 0.5 -0.5 897 960 -6.6
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