Insolvency Statistics in Canada—July 2015

Detailed report

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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

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
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.
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.
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.
NAICS:
North American Industry Classification System.
Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
July 2015June 2015July 2014June 2015
to
July 2015
July 2014
to
July 2015
07-31-201507-31-2014% Change
Newfoundland and Labrador155179126-13.423.01,6941,5827.1
Bankruptcies137145111-5.523.41,4261,4091.2
Proposals183415-47.120.026817354.9
Prince Edward Island84687323.515.180071312.2
Bankruptcies55385344.73.85254936.5
Proposals293020-3.345.027522025.0
Nova Scotia457503499-9.1-8.45,3045,1333.3
Bankruptcies322349356-7.7-9.63,7713,6164.3
Proposals135154143-12.3-5.61,5331,5171.1
New Brunswick4023943582.012.34,4794,2206.1
Bankruptcies2682632541.95.53,0192,9512.3
Proposals1341311042.328.81,4601,26915.1
Quebec3,8673,7753,4952.410.645,88242,8637.0
Bankruptcies2,1372,2332,095-4.32.026,26426,2650.0
Proposals1,7301,5421,40012.223.619,61816,59818.2
Ontario3,4203,5593,634-3.9-5.941,40743,565-5.0
Bankruptcies1,5491,6571,714-6.5-9.619,41221,133-8.1
Proposals1,8711,9021,920-1.6-2.621,99522,432-1.9
Manitoba2021871568.029.52,1001,9139.8
Bankruptcies119125107-4.811.21,3421,2348.8
Proposals83624933.969.475867911.6
Saskatchewan2051891828.512.62,1341,9976.9
Bankruptcies10596999.46.11,1431,189-3.9
Proposals10093837.520.599180822.6
Alberta830877655-5.426.78,9928,2798.6
Bankruptcies358409303-12.518.24,0524,221-4.0
Proposals4724683520.934.14,9404,05821.7
British Columbia1,0211,0791,044-5.4-2.211,65711,818-1.4
Bankruptcies488536581-9.0-16.06,0157,014-14.2
Proposals533543463-1.815.15,6424,80417.4
Northwest Territories462-33.3100.04450-12.0
Bankruptcies142-75.0-50.02229-24.1
Proposals32050.0--22214.8
Yukon43633.3-33.33539-10.3
Bankruptcies213100.0-33.31625-36.0
Proposals2230.0-33.3191435.7
Nunavut010-100.0--660.0
Bankruptcies010-100.0--440.0
Proposals000----220.0
Canada10,65110,82010,230-1.64.1124,534122,1781.9
Bankruptcies5,5415,8575,678-5.4-2.467,01169,583-3.7
Proposals5,1104,9634,5523.012.357,52352,5959.4
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
July 2015June 2015July 2014June 2015
to
July 2015
July 2014
to
July 2015
07-31-201507-31-2014% Change
Newfoundland and Labrador155176126-11.923.01,6671,5517.5
Bankruptcies137142111-3.523.41,4011,3871.0
Proposals183415-47.120.026616462.2
Prince Edward Island82676922.418.878368614.1
Bankruptcies54385142.15.95124748.0
Proposals282918-3.455.627121227.8
Nova Scotia451486490-7.2-8.05,2155,0363.6
Bankruptcies316339350-6.8-9.73,7093,5504.5
Proposals135147140-8.2-3.61,5061,4861.3
New Brunswick3943923520.511.94,4004,1276.6
Bankruptcies261262250-0.44.42,9622,8802.8
Proposals1331301022.330.41,4381,24715.3
Quebec3,7073,5853,3273.411.443,53440,6347.1
Bankruptcies2,0162,0921,967-3.62.524,56624,613-0.2
Proposals1,6911,4931,36013.324.318,96816,02118.4
Ontario3,3173,4703,552-4.4-6.640,23042,448-5.2
Bankruptcies1,4691,5901,644-7.6-10.618,49620,271-8.8
Proposals1,8481,8801,908-1.7-3.121,73422,177-2.0
Manitoba1981841537.629.42,0631,84212.0
Bankruptcies118122105-3.312.41,3181,17212.5
Proposals80624829.066.774567011.2
Saskatchewan1951781759.611.42,0421,8729.1
Bankruptcies97889510.22.11,0811,116-3.1
Proposals9890808.922.596175627.1
Alberta824859642-4.128.38,8498,1179.0
Bankruptcies353393296-10.219.33,9444,108-4.0
Proposals4714663461.136.14,9054,00922.3
British Columbia1,0071,0561,017-4.6-1.011,45911,553-0.8
Bankruptcies476517559-7.9-14.85,8686,812-13.9
Proposals531539458-1.515.95,5914,74117.9
Northwest Territories462-33.3100.04450-12.0
Bankruptcies142-75.0-50.02229-24.1
Proposals32050.0--22214.8
Yukon43633.3-33.33439-12.8
Bankruptcies213100.0-33.31625-36.0
Proposals2230.0-33.3181428.6
Nunavut010-100.0--56-16.7
Bankruptcies010-100.0--34-25.0
Proposals000----220.0
Canada10,33810,4639,911-1.24.3120,325117,9612.0
Bankruptcies5,3005,5895,433-5.2-2.463,89866,441-3.8
Proposals5,0384,8744,4783.412.556,42751,5209.5
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
July 2015June 2015July 2014June 2015
to
July 2015
July 2014
to
July 2015
07-31-201507-31-2014% Change
Newfoundland and Labrador030-100.0--2731-12.9
Bankruptcies030-100.0--252213.6
Proposals000----29-77.8
Prince Edward Island214100.0-50.01727-37.0
Bankruptcies102---50.01319-31.6
Proposals1120.0-50.048-50.0
Nova Scotia6179-64.7-33.38997-8.2
Bankruptcies6106-40.00.06266-6.1
Proposals073-100.0-100.02731-12.9
New Brunswick826300.033.37993-15.1
Bankruptcies714600.075.05771-19.7
Proposals1120.0-50.022220.0
Quebec160190168-15.8-4.82,3482,2295.3
Bankruptcies121141128-14.2-5.51,6981,6522.8
Proposals394940-20.4-2.565057712.7
Ontario103898215.725.61,1771,1175.4
Bankruptcies80677019.414.39168626.3
Proposals2322124.591.72612552.4
Manitoba43333.333.33771-47.9
Bankruptcies132-66.7-50.02462-61.3
Proposals301--200.013944.4
Saskatchewan10117-9.142.992125-26.4
Bankruptcies8840.0100.06273-15.1
Proposals233-33.3-33.33052-42.3
Alberta61813-66.7-53.8143162-11.7
Bankruptcies5167-68.8-28.6108113-4.4
Proposals126-50.0-83.33549-28.6
British Columbia142327-39.1-48.1198265-25.3
Bankruptcies121922-36.8-45.5147202-27.2
Proposals245-50.0-60.05163-19.0
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----10--
Bankruptcies000----00--
Proposals000----10--
Nunavut000----10--
Bankruptcies000----10--
Proposals000----00--
Canada313357319-12.3-1.94,2094,217-0.2
Bankruptcies241268245-10.1-1.63,1133,142-0.9
Proposals728974-19.1-2.71,0961,0752.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
SectorVolume% Change12-Month Period Ending
July 2015June 2015July 2014June 2015
to
July 2015
July 2014
to
July 2015
07-31-201507-31-2014% Change
Agriculture, Forestry, Fishing and Hunting75840.0-12.585129-34.1
Bankruptcies516400.0-16.74389-51.7
Proposals242-50.00.042405.0
Mining and Oil and Gas Extraction232-33.30.03839-2.6
Bankruptcies030-100.0--211816.7
Proposals202--0.01721-19.0
Utilities413300.033.314137.7
Bankruptcies212100.00.010825.0
Proposals201--100.045-20.0
Construction537154-25.4-1.9728753-3.3
Bankruptcies445444-18.50.0527565-6.7
Proposals91710-47.1-10.02011886.9
Manufacturing252833-10.7-24.2376410-8.3
Bankruptcies161823-11.1-30.4259293-11.6
Proposals91010-10.0-10.01171170.0
Wholesale Trade18152120.0-14.3221239-7.5
Bankruptcies15101950.0-21.1159162-1.9
Proposals352-40.050.06277-19.5
Retail Trade3836415.6-7.3498509-2.2
Bankruptcies30272811.17.1377402-6.2
Proposals8913-11.1-38.512110713.1
Transportation and Warehousing142118-33.3-22.227123515.3
Bankruptcies121417-14.3-29.4178187-4.8
Proposals271-71.4100.0934893.8
Information and Cultural Industries476-42.9-33.3784959.2
Bankruptcies464-33.30.0553271.9
Proposals012-100.0-100.0231735.3
Finance and Insurance587-37.5-28.6897223.6
Bankruptcies376-57.1-50.0675424.1
Proposals211100.0100.0221822.2
Real Estate and Rental and Leasing9129-25.00.0120149-19.5
Bankruptcies9127-25.028.697108-10.2
Proposals002---100.02341-43.9
Professional, Scientific and Technical Services242821-14.314.33042953.1
Bankruptcies2020150.033.324821614.8
Proposals486-50.0-33.35679-29.1
Management of Companies and Enterprises576-28.6-16.76164-4.7
Bankruptcies355-40.0-40.04247-10.6
Proposals2210.0100.0191711.8
Administrative and Support, Waste Management and Remediation Services23181727.835.32172008.5
Bankruptcies18151420.028.616514017.9
Proposals53366.766.75260-13.3
Educational Services021-100.0-100.03946-15.2
Bankruptcies020-100.0--3242-23.8
Proposals001---100.07475.0
Health Care and Social Assistance8106-20.033.3958117.3
Bankruptcies256-60.0-66.765616.6
Proposals65020.0--302050.0
Arts, Entertainment and Recreation634100.050.081783.8
Bankruptcies524150.025.06067-10.4
Proposals1100.0--211190.9
Accommodation and Food Services586851-14.713.769061811.7
Bankruptcies435436-20.419.454645719.5
Proposals1514157.10.0144161-10.6
Other Services (except Public Administration)101411-28.6-9.1203237-14.3
Bankruptcies10129-16.711.1161193-16.6
Proposals022-100.0-100.04244-4.5
Public Administration000----110.0
Bankruptcies000----110.0
Proposals000----00--
Total313357319-12.3-1.94,2094,217-0.2
Bankruptcies241268245-10.1-1.63,1133,142-0.9
Proposals728974-19.1-2.71,0961,0752.0