Highlights
Read the report Insolvency Statistics in Canada—January 2018.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.7% in January 2018 from the previous month. Bankruptcies decreased by 4.2% and proposals increased by 19.1%.
The total number of insolvencies in January 2018 was 3.2% higher than the total number of insolvencies in January 2017. Consumer insolvencies increased by 2.9%, while business insolvencies increased by 15.2%.
For the 12-month period ending January 31, 2018, the total number of insolvencies decreased by 2.9% compared with the 12-month period ending January 31, 2017.
Consumer insolvencies for the 12-month period ending January 31, 2018, decreased by 2.9% compared with the 12-month period ending January 31, 2017. Consumer bankruptcies decreased by 8.8%, while consumer proposals increased by 3.0%. The proportion of proposals in consumer insolvencies increased to 52.9% during the 12-month period ending January 31, 2018, up from 49.8% during the 12-month period ending January 31, 2017. For the 12-month period ending January 31, 2018, consumer insolvency filings accounted for 97.1% of total insolvency filings.
Business insolvencies for the 12-month period ending January 31, 2018, decreased by 4.1% compared with the 12-month period ending January 31, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were accommodation and food services; and administrative and support, waste management and remediation services. Manufacturing; and other services (except public administration) experienced the biggest increase in insolvencies.
One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in January 2018. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.
Read the report Insolvency Statistics in Canada—January 2018.