Insolvency Statistics in Canada—August 2010

Note:
Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

Tables

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 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
  Volume % Change 12-Month Period Ending
Aug. 2010 July 2010 Aug. 2009 July 2010 to Aug. 2010 Aug. 2009 to Aug. 2010 08-31-2010 08-31-2009 % Change
Newfoundland and Labrador 203 175 211 16.0 -3.8 2,588 2,584 0.2
Bankruptcies 185 166 200 11.4 -7.5 2,443 2,487 -1.8
Proposals 18 9 11 100.0 63.6 145 97 49.5
Prince Edward Island 54 45 36 20.0 50.0 604 553 9.2
Bankruptcies 47 37 34 27.0 38.2 537 526 2.1
Proposals 7 8 2 -12.5 250.0 67 27 148.1
Nova Scotia 431 414 418 4.1 3.1 5,418 5,207 4.1
Bankruptcies 356 325 372 9.5 -4.3 4,488 4,554 -1.4
Proposals 75 89 46 -15.7 63.0 930 653 42.4
New Brunswick 350 303 369 15.5 -5.1 3,908 3,817 2.4
Bankruptcies 296 245 328 20.8 -9.8 3,274 3,260 0.4
Proposals 54 58 41 -6.9 31.7 634 557 13.8
Quebec 3,116 3,011 3,363 3.5 -7.3 41,183 42,663 -3.5
Bankruptcies 2,296 2,294 2,801 0.1 -18.0 31,090 35,412 -12.2
Proposals 820 717 562 14.4 45.9 10,093 7,251 39.2
Ontario 4,560 4,517 5,480 1.0 -16.8 62,566 65,898 -5.1
Bankruptcies 2,608 2,686 4,024 -2.9 -35.2 39,260 47,300 -17.0
Proposals 1,952 1,831 1,456 6.6 34.1 23,306 18,598 25.3
Manitoba 225 214 271 5.1 -17.0 2,872 3,129 -8.2
Bankruptcies 159 161 215 -1.2 -26.0 2,162 2,491 -13.2
Proposals 66 53 56 24.5 17.9 710 638 11.3
Saskatchewan 198 206 224 -3.9 -11.6 2,580 2,469 4.5
Bankruptcies 125 127 156 -1.6 -19.9 1,736 1,875 -7.4
Proposals 73 79 68 -7.6 7.4 844 594 42.1
Alberta 886 868 1,097 2.1 -19.2 11,850 11,376 4.2
Bankruptcies 645 653 915 -1.2 -29.5 9,094 9,587 -5.1
Proposals 241 215 182 12.1 32.4 2,756 1,789 54.1
British Columbia 925 988 1,022 -6.4 -9.5 13,091 12,741 2.7
Bankruptcies 686 739 856 -7.2 -19.9 10,098 10,478 -3.6
Proposals 239 249 166 -4.0 44.0 2,993 2,263 32.3
Northwest Territories 3 1 6 200.0 -50.0 45 44 2.3
Bankruptcies 1 1 6 0.0 -83.3 35 37 -5.4
Proposals 2 0 0 -- -- 10 7 42.9
Yukon 0 1 2 -100.0 -100.0 44 33 33.3
Bankruptcies 0 1 2 -100.0 -100.0 35 30 16.7
Proposals 0 0 0 -- -- 9 3 200.0
Nunavut 0 0 0 -- -- 4 10 -60.0
Bankruptcies 0 0 0 -- -- 3 9 -66.7
Proposals 0 0 0 -- -- 1 1 0.0
Canada 10,951 10,743 12,499 1.9 -12.4 146,753 150,524 -2.5
Bankruptcies 7,404 7,435 9,909 -0.4 -25.3 104,255 118,046 -11.7
Proposals 3,547 3,308 2,590 7.2 36.9 42,498 32,478 30.9
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
Aug. 2010 July 2010 Aug. 2009 July 2010 to Aug. 2010 Aug. 2009 to Aug. 2010 08-31-2010 08-31-2009 % Change
Newfoundland and Labrador 200 175 210 14.3 -4.8 2,561 2,553 0.3
Bankruptcies 182 166 199 9.6 -8.5 2,416 2,457 -1.7
Proposals 18 9 11 100.0 63.6 145 96 51.0
Prince Edward Island 51 43 33 18.6 54.5 581 525 10.7
Bankruptcies 46 35 31 31.4 48.4 517 504 2.6
Proposals 5 8 2 -37.5 150.0 64 21 204.8
Nova Scotia 418 402 406 4.0 3.0 5,262 5,046 4.3
Bankruptcies 347 316 363 9.8 -4.4 4,363 4,413 -1.1
Proposals 71 86 43 -17.4 65.1 899 633 42.0
New Brunswick 348 296 358 17.6 -2.8 3,811 3,650 4.4
Bankruptcies 294 238 322 23.5 -8.7 3,191 3,138 1.7
Proposals 54 58 36 -6.9 50.0 620 512 21.1
Quebec 2,982 2,856 3,193 4.4 -6.6 38,967 40,035 -2.7
Bankruptcies 2,195 2,171 2,675 1.1 -17.9 29,494 33,375 -11.6
Proposals 787 685 518 14.9 51.9 9,473 6,660 42.2
Ontario 4,419 4,386 5,303 0.8 -16.7 60,442 63,285 -4.5
Bankruptcies 2,496 2,579 3,872 -3.2 -35.5 37,462 45,042 -16.8
Proposals 1,923 1,807 1,431 6.4 34.4 22,980 18,243 26.0
Manitoba 220 212 265 3.8 -17.0 2,791 3,042 -8.3
Bankruptcies 157 159 213 -1.3 -26.3 2,098 2,420 -13.3
Proposals 63 53 52 18.9 21.2 693 622 11.4
Saskatchewan 190 199 202 -4.5 -5.9 2,423 2,255 7.5
Bankruptcies 119 124 142 -4.0 -16.2 1,631 1,710 -4.6
Proposals 71 75 60 -5.3 18.3 792 545 45.3
Alberta 851 833 1,058 2.2 -19.6 11,374 10,884 4.5
Bankruptcies 615 626 882 -1.8 -30.3 8,705 9,172 -5.1
Proposals 236 207 176 14.0 34.1 2,669 1,712 55.9
British Columbia 899 969 997 -7.2 -9.8 12,761 12,180 4.8
Bankruptcies 663 725 832 -8.6 -20.3 9,833 10,030 -2.0
Proposals 236 244 165 -3.3 43.0 2,928 2,150 36.2
Northwest Territories 3 1 6 200.0 -50.0 45 44 2.3
Bankruptcies 1 1 6 0.0 -83.3 35 37 -5.4
Proposals 2 0 0 -- -- 10 7 42.9
Yukon 0 1 2 -100.0 -100.0 41 33 24.2
Bankruptcies 0 1 2 -100.0 -100.0 35 30 16.7
Proposals 0 0 0 -- -- 6 3 100.0
Nunavut 0 0 0 -- -- 4 9 -55.6
Bankruptcies 0 0 0 -- -- 3 9 -66.7
Proposals 0 0 0 -- -- 1 0 --
Canada 10,581 10,373 12,033 2.0 -12.1 141,063 143,541 -1.7
Bankruptcies 7,115 7,141 9,539 -0.4 -25.4 99,783 112,337 -11.2
Proposals 3,466 3,232 2,494 7.2 39.0 41,280 31,204 32.3
Table 3: Insolvencies Filed by Businesses
  Volume % Change 12-Month Period Ending
Aug. 2010 July 2010 Aug. 2009 July 2010 to Aug. 2010 Aug. 2009 to Aug. 2010 08-31-2010 08-31-2009 % Change
Newfoundland and Labrador 3 0 1 -- 200.0 27 31 -12.9
Bankruptcies 3 0 1 -- 200.0 27 30 -10.0
Proposals 0 0 0 -- -- 0 1 -100.0
Prince Edward Island 3 2 3 50.0 0.0 23 28 -17.9
Bankruptcies 1 2 3 -50.0 -66.7 20 22 -9.1
Proposals 2 0 0 -- -- 3 6 -50.0
Nova Scotia 13 12 12 8.3 8.3 156 161 -3.1
Bankruptcies 9 9 9 0.0 0.0 125 141 -11.3
Proposals 4 3 3 33.3 33.3 31 20 55.0
New Brunswick 2 7 11 -71.4 -81.8 97 167 -41.9
Bankruptcies 2 7 6 -71.4 -66.7 83 122 -32.0
Proposals 0 0 5 -- -100.0 14 45 -68.9
Quebec 134 155 170 -13.5 -21.2 2,216 2,628 -15.7
Bankruptcies 101 123 126 -17.9 -19.8 1,596 2,037 -21.6
Proposals 33 32 44 3.1 -25.0 620 591 4.9
Ontario 141 131 177 7.6 -20.3 2,124 2,613 -18.7
Bankruptcies 112 107 152 4.7 -26.3 1,798 2,258 -20.4
Proposals 29 24 25 20.8 16.0 326 355 -8.2
Manitoba 5 2 6 150.0 -16.7 81 87 -6.9
Bankruptcies 2 2 2 0.0 0.0 64 71 -9.9
Proposals 3 0 4 -- -25.0 17 16 6.3
Saskatchewan 8 7 22 14.3 -63.6 157 214 -26.6
Bankruptcies 6 3 14 100.0 -57.1 105 165 -36.4
Proposals 2 4 8 -50.0 -75.0 52 49 6.1
Alberta 35 35 39 0.0 -10.3 476 492 -3.3
Bankruptcies 30 27 33 11.1 -9.1 389 415 -6.3
Proposals 5 8 6 -37.5 -16.7 87 77 13.0
British Columbia 26 19 25 36.8 4.0 330 561 -41.2
Bankruptcies 23 14 24 64.3 -4.2 265 448 -40.8
Proposals 3 5 1 -40.0 200.0 65 113 -42.5
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 3 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 3 0 --
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Canada 370 370 466 0.0 -20.6 5,690 6,983 -18.5
Bankruptcies 289 294 370 -1.7 -21.9 4,472 5,709 -21.7
Proposals 81 76 96 6.6 -15.6 1,218 1,274 -4.4
Table 4: Insolvencies by NAICS Economic Sectors Canada
  Volume % Change 12-Month Period Ending
Aug. 2010 July 2010 Aug. 2009 July 2010 to Aug. 2010 Aug. 2009 to Aug. 2010 08-31-2010 08-31-2009 % Change
Agriculture, Forestry, Fishing and Hunting 9 9 15 0.0 -40.0 177 266 -33.5
Bankruptcies 7 6 10 16.7 -30.0 133 210 -36.7
Proposals 2 3 5 -33.3 -60.0 44 56 -21.4
Mining and Oil and Gas Extraction 4 4 2 0.0 100.0 66 54 22.2
Bankruptcies 2 2 2 0.0 0.0 48 35 37.1
Proposals 2 2 0 0.0 -- 18 19 -5.3
Utilities 1 0 1 -- 0.0 12 21 -42.9
Bankruptcies 1 0 1 -- 0.0 12 16 -25.0
Proposals 0 0 0 -- -- 0 5 -100.0
Construction 59 55 69 7.3 -14.5 921 1,037 -11.2
Bankruptcies 47 46 63 2.2 -25.4 733 895 -18.1
Proposals 12 9 6 33.3 100.0 188 142 32.4
Manufacturing 40 34 50 17.6 -20.0 619 788 -21.4
Bankruptcies 21 26 35 -19.2 -40.0 489 614 -20.4
Proposals 19 8 15 137.5 26.7 130 174 -25.3
Wholesale Trade 23 21 32 9.5 -28.1 305 390 -21.8
Bankruptcies 18 16 29 12.5 -37.9 238 313 -24.0
Proposals 5 5 3 0.0 66.7 67 77 -13.0
Retail Trade 49 51 52 -3.9 -5.8 800 950 -15.8
Bankruptcies 39 42 45 -7.1 -13.3 661 792 -16.5
Proposals 10 9 7 11.1 42.9 139 158 -12.0
Transportation and Warehousing 30 17 59 76.5 -49.2 462 654 -29.4
Bankruptcies 25 17 40 47.1 -37.5 384 524 -26.7
Proposals 5 0 19 -- -73.7 78 130 -40.0
Information and Cultural Industries 6 6 14 0.0 -57.1 88 123 -28.5
Bankruptcies 3 5 13 -40.0 -76.9 61 92 -33.7
Proposals 3 1 1 200.0 200.0 27 31 -12.9
Finance and Insurance 5 9 13 -44.4 -61.5 106 147 -27.9
Bankruptcies 4 9 11 -55.6 -63.6 92 117 -21.4
Proposals 1 0 2 -- -50.0 14 30 -53.3
Real Estate and Rental and Leasing 10 18 10 -44.4 0.0 207 198 4.5
Bankruptcies 9 16 5 -43.8 80.0 138 148 -6.8
Proposals 1 2 5 -50.0 -80.0 69 50 38.0
Professional, Scientific and Technical Services 16 28 18 -42.9 -11.1 390 439 -11.2
Bankruptcies 14 24 16 -41.7 -12.5 291 370 -21.4
Proposals 2 4 2 -50.0 0.0 99 69 43.5
Management of Companies and Enterprises 4 6 2 -33.3 100.0 70 44 59.1
Bankruptcies 4 4 1 0.0 300.0 49 35 40.0
Proposals 0 2 1 -100.0 -100.0 21 9 133.3
Administrative and Support, Waste Management and Remediation Services 9 20 17 -55.0 -47.1 240 292 -17.8
Bankruptcies 8 13 14 -38.5 -42.9 187 248 -24.6
Proposals 1 7 3 -85.7 -66.7 53 44 20.5
Educational Services 3 3 1 0.0 200.0 43 45 -4.4
Bankruptcies 2 2 1 0.0 100.0 36 35 2.9
Proposals 1 1 0 0.0 -- 7 10 -30.0
Health Care and Social Assistance 7 3 12 133.3 -41.7 67 89 -24.7
Bankruptcies 6 3 11 100.0 -45.5 52 71 -26.8
Proposals 1 0 1 -- 0.0 15 18 -16.7
Arts, Entertainment and Recreation 8 4 8 100.0 0.0 116 138 -15.9
Bankruptcies 8 3 7 166.7 14.3 89 122 -27.0
Proposals 0 1 1 -100.0 -100.0 27 16 68.8
Accommodation and Food Services 59 60 64 -1.7 -7.8 697 847 -17.7
Bankruptcies 46 40 44 15.0 4.5 526 680 -22.6
Proposals 13 20 20 -35.0 -35.0 171 167 2.4
Other Services (except Public Administration) 26 22 26 18.2 0.0 294 454 -35.2
Bankruptcies 23 20 21 15.0 9.5 246 386 -36.3
Proposals 3 2 5 50.0 -40.0 48 68 -29.4
Public Administration 2 0 1 -- 100.0 10 6 66.7
Bankruptcies 2 0 1 -- 100.0 7 5 40.0
Proposals 0 0 0 -- -- 3 1 200.0
Total 370 370 466 0.0 -20.6 5,690 6,983 -18.5
Bankruptcies 289 294 370 -1.7 -21.9 4,472 5,709 -21.7
Proposals 81 76 96 6.6 -15.6 1,218 1,274 -4.4