Insolvency Statistics in Canada—Second Quarter of 2015

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Insolvency Statistics in Canada
Second Quarter of 2015

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Glossary

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.
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.
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).
Table 1: Total Insolvencies
province Volume % Change 12-Month Period Ending
Q2 2015 Q1 2015 Q2 2014 Q1 2015 to Q2 2015 Q2 2014 to Q2 2015 06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 512 398 433 28.6 18.2 1,665 1,612 3.3
Bankruptcies 429 334 391 28.4 9.7 1,400 1,438 -2.6
Proposals 83 64 42 29.7 97.6 265 174 52.3
Prince Edward Island 222 183 180 21.3 23.3 789 713 10.7
Bankruptcies 139 121 135 14.9 3.0 523 493 6.1
Proposals 83 62 45 33.9 84.4 266 220 20.9
Nova Scotia 1,422 1,227 1,469 15.9 -3.2 5,346 5,029 6.3
Bankruptcies 1,038 812 1,056 27.8 -1.7 3,805 3,524 8.0
Proposals 384 415 413 -7.5 -7.0 1,541 1,505 2.4
New Brunswick 1,223 956 1,179 27.9 3.7 4,435 4,231 4.8
Bankruptcies 783 631 833 24.1 -6.0 3,005 2,964 1.4
Proposals 440 325 346 35.4 27.2 1,430 1,267 12.9
Quebec 11,899 11,751 11,195 1.3 6.3 45,510 42,736 6.5
Bankruptcies 6,989 6,370 6,862 9.7 1.9 26,222 26,389 -0.6
Proposals 4,910 5,381 4,333 -8.8 13.3 19,288 16,347 18.0
Ontario 10,868 10,176 11,128 6.8 -2.3 41,621 43,612 -4.6
Bankruptcies 5,117 4,554 5,320 12.4 -3.8 19,577 21,325 -8.2
Proposals 5,751 5,622 5,808 2.3 -1.0 22,044 22,287 -1.1
Manitoba 534 502 519 6.4 2.9 2,054 1,921 6.9
Bankruptcies 367 293 320 25.3 14.7 1,330 1,234 7.8
Proposals 167 209 199 -20.1 -16.1 724 687 5.4
Saskatchewan 577 526 533 9.7 8.3 2,111 1,960 7.7
Bankruptcies 316 264 309 19.7 2.3 1,137 1,187 -4.2
Proposals 261 262 224 -0.4 16.5 974 773 26.0
Alberta 2,510 2,254 2,287 11.4 9.8 8,817 8,302 6.2
Bankruptcies 1,133 1,017 1,090 11.4 3.9 3,997 4,312 -7.3
Proposals 1,377 1,237 1,197 11.3 15.0 4,820 3,990 20.8
British Columbia 3,046 2,953 3,157 3.1 -3.5 11,680 11,811 -1.1
Bankruptcies 1,545 1,535 1,873 0.7 -17.5 6,108 7,027 -13.1
Proposals 1,501 1,418 1,284 5.9 16.9 5,572 4,784 16.5
Northwest Territories 10 8 11 25.0 -9.1 42 56 -25.0
Bankruptcies 6 4 6 50.0 0.0 23 33 -30.3
Proposals 4 4 5 0.0 -20.0 19 23 -17.4
Yukon 6 11 11 -45.5 -45.5 37 35 5.7
Bankruptcies 1 7 6 -85.7 -83.3 17 24 -29.2
Proposals 5 4 5 25.0 0.0 20 11 81.8
Nunavut 1 1 0 0.0 -- 6 6 0.0
Bankruptcies 1 0 0 -- -- 4 4 0.0
Proposals 0 1 0 -100.0 -- 2 2 0.0
Canada 32,830 30,946 32,102 6.1 2.3 124,113 122,024 1.7
Bankruptcies 17,864 15,942 18,201 12.1 -1.9 67,148 69,954 -4.0
Proposals 14,966 15,004 13,901 -0.3 7.7 56,965 52,070 9.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q2 2015 Q1 2015 Q2 2014 Q1 2015 to Q2 2015 Q2 2014 to Q2 2015 06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 506 392 427 29.1 18.5 1,638 1,579 3.7
Bankruptcies 423 330 386 28.2 9.6 1,375 1,416 -2.9
Proposals 83 62 41 33.9 102.4 263 163 61.3
Prince Edward Island 216 179 174 20.7 24.1 770 690 11.6
Bankruptcies 134 119 130 12.6 3.1 509 476 6.9
Proposals 82 60 44 36.7 86.4 261 214 22.0
Nova Scotia 1,386 1,208 1,446 14.7 -4.1 5,254 4,935 6.5
Bankruptcies 1,012 803 1,039 26.0 -2.6 3,743 3,459 8.2
Proposals 374 405 407 -7.7 -8.1 1,511 1,476 2.4
New Brunswick 1,209 933 1,158 29.6 4.4 4,358 4,139 5.3
Bankruptcies 773 619 817 24.9 -5.4 2,951 2,892 2.0
Proposals 436 314 341 38.9 27.9 1,407 1,247 12.8
Quebec 11,336 11,129 10,594 1.9 7.0 43,154 40,499 6.6
Bankruptcies 6,574 5,904 6,425 11.3 2.3 24,517 24,727 -0.8
Proposals 4,762 5,225 4,169 -8.9 14.2 18,637 15,772 18.2
Ontario 10,568 9,865 10,857 7.1 -2.7 40,465 42,488 -4.8
Bankruptcies 4,889 4,315 5,117 13.3 -4.5 18,671 20,462 -8.8
Proposals 5,679 5,550 5,740 2.3 -1.1 21,794 22,026 -1.1
Manitoba 526 496 500 6.0 5.2 2,018 1,846 9.3
Bankruptcies 361 290 303 24.5 19.1 1,305 1,171 11.4
Proposals 165 206 197 -19.9 -16.2 713 675 5.6
Saskatchewan 552 505 498 9.3 10.8 2,022 1,830 10.5
Bankruptcies 298 251 289 18.7 3.1 1,079 1,110 -2.8
Proposals 254 254 209 0.0 21.5 943 720 31.0
Alberta 2,466 2,224 2,256 10.9 9.3 8,667 8,144 6.4
Bankruptcies 1,099 997 1,065 10.2 3.2 3,887 4,197 -7.4
Proposals 1,367 1,227 1,191 11.4 14.8 4,780 3,947 21.1
British Columbia 2,996 2,907 3,086 3.1 -2.9 11,469 11,560 -0.8
Bankruptcies 1,507 1,508 1,813 -0.1 -16.9 5,951 6,839 -13.0
Proposals 1,489 1,399 1,273 6.4 17.0 5,518 4,721 16.9
Northwest Territories 10 8 11 25.0 -9.1 42 56 -25.0
Bankruptcies 6 4 6 50.0 0.0 23 33 -30.3
Proposals 4 4 5 0.0 -20.0 19 23 -17.4
Yukon 6 11 11 -45.5 -45.5 36 35 2.9
Bankruptcies 1 7 6 -85.7 -83.3 17 24 -29.2
Proposals 5 4 5 25.0 0.0 19 11 72.7
Nunavut 1 1 0 0.0 -- 5 6 -16.7
Bankruptcies 1 0 0 -- -- 3 4 -25.0
Proposals 0 1 0 -100.0 -- 2 2 0.0
Canada 31,778 29,858 31,018 6.4 2.5 119,898 117,807 1.8
Bankruptcies 17,078 15,147 17,396 12.7 -1.8 64,031 66,810 -4.2
Proposals 14,700 14,711 13,622 -0.1 7.9 55,867 50,997 9.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q2 2015 Q1 2015 Q2 2014 Q1 2015 to Q2 2015 Q2 2014 to Q2 2015 06-30-2015 06-30-2014 % Change
Newfoundland and Labrador 6 6 6 0.0 0.0 27 33 -18.2
Bankruptcies 6 4 5 50.0 20.0 25 22 13.6
Proposals 0 2 1 -100.0 -100.0 2 11 -81.8
Prince Edward Island 6 4 6 50.0 0.0 19 23 -17.4
Bankruptcies 5 2 5 150.0 0.0 14 17 -17.6
Proposals 1 2 1 -50.0 0.0 5 6 -16.7
Nova Scotia 36 19 23 89.5 56.5 92 94 -2.1
Bankruptcies 26 9 17 188.9 52.9 62 65 -4.6
Proposals 10 10 6 0.0 66.7 30 29 3.4
New Brunswick 14 23 21 -39.1 -33.3 77 92 -16.3
Bankruptcies 10 12 16 -16.7 -37.5 54 72 -25.0
Proposals 4 11 5 -63.6 -20.0 23 20 15.0
Quebec 563 622 601 -9.5 -6.3 2,356 2,237 5.3
Bankruptcies 415 466 437 -10.9 -5.0 1,705 1,662 2.6
Proposals 148 156 164 -5.1 -9.8 651 575 13.2
Ontario 300 311 271 -3.5 10.7 1,156 1,124 2.8
Bankruptcies 228 239 203 -4.6 12.3 906 863 5.0
Proposals 72 72 68 0.0 5.9 250 261 -4.2
Manitoba 8 6 19 33.3 -57.9 36 75 -52.0
Bankruptcies 6 3 17 100.0 -64.7 25 63 -60.3
Proposals 2 3 2 -33.3 0.0 11 12 -8.3
Saskatchewan 25 21 35 19.0 -28.6 89 130 -31.5
Bankruptcies 18 13 20 38.5 -10.0 58 77 -24.7
Proposals 7 8 15 -12.5 -53.3 31 53 -41.5
Alberta 44 30 31 46.7 41.9 150 158 -5.1
Bankruptcies 34 20 25 70.0 36.0 110 115 -4.3
Proposals 10 10 6 0.0 66.7 40 43 -7.0
British Columbia 50 46 71 8.7 -29.6 211 251 -15.9
Bankruptcies 38 27 60 40.7 -36.7 157 188 -16.5
Proposals 12 19 11 -36.8 9.1 54 63 -14.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 1,052 1,088 1,084 -3.3 -3.0 4,215 4,217 0.0
Bankruptcies 786 795 805 -1.1 -2.4 3,117 3,144 -0.9
Proposals 266 293 279 -9.2 -4.7 1,098 1,073 2.3
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