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Archived — Insolvency Statistics in Canada—October 2010

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Insolvency Statistics—October 2010

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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
Province Volume % Change 12-Month Period Ending
Oct. 2010 Sept. 2010 Oct. 2009 Sept. 2010 to Oct. 2010 Oct. 2009 to Oct. 2010 10-31-2010 10-31-2009 % Change
Newfoundland and Labrador 215 162 230 32.7 -6.5 2,493 2,619 -4.8
Bankruptcies 208 151 218 37.7 -4.6 2,354 2,508 -6.1
Proposals 7 11 12 -36.4 -41.7 139 111 25.2
Prince Edward Island 53 55 63 -3.6 -15.9 605 558 8.4
Bankruptcies 46 46 58 0.0 -20.7 529 527 0.4
Proposals 7 9 5 -22.2 40.0 76 31 145.2
Nova Scotia 445 456 505 -2.4 -11.9 5,275 5,362 -1.6
Bankruptcies 357 367 420 -2.7 -15.0 4,321 4,662 -7.3
Proposals 88 89 85 -1.1 3.5 954 700 36.3
New Brunswick 257 340 317 -24.4 -18.9 3,761 3,946 -4.7
Bankruptcies 212 291 257 -27.1 -17.5 3,135 3,372 -7.0
Proposals 45 49 60 -8.2 -25.0 626 574 9.1
Quebec 3,393 3,352 3,733 1.2 -9.1 39,891 43,804 -8.9
Bankruptcies 2,629 2,450 2,785 7.3 -5.6 29,743 36,120 -17.7
Proposals 764 902 948 -15.3 -19.4 10,148 7,684 32.1
Ontario 4,918 4,909 5,633 0.2 -12.7 59,675 68,429 -12.8
Bankruptcies 2,785 2,897 3,624 -3.9 -23.2 36,076 48,834 -26.1
Proposals 2,133 2,012 2,009 6.0 6.2 23,599 19,595 20.4
Manitoba 222 218 260 1.8 -14.6 2,769 3,152 -12.2
Bankruptcies 164 159 185 3.1 -11.4 2,088 2,501 -16.5
Proposals 58 59 75 -1.7 -22.7 681 651 4.6
Saskatchewan 192 199 213 -3.5 -9.9 2,489 2,594 -4.0
Bankruptcies 119 148 133 -19.6 -10.5 1,656 1,937 -14.5
Proposals 73 51 80 43.1 -8.8 833 657 26.8
Alberta 968 987 948 -1.9 2.1 11,414 12,278 -7.0
Bankruptcies 724 766 723 -5.5 0.1 8,663 10,283 -15.8
Proposals 244 221 225 10.4 8.4 2,751 1,995 37.9
British Columbia 1,142 1,100 1,089 3.8 4.9 12,854 13,410 -4.1
Bankruptcies 884 834 835 6.0 5.9 9,842 10,944 -10.1
Proposals 258 266 254 -3.0 1.6 3,012 2,466 22.1
Northwest Territories 5 4 3 25.0 66.7 43 50 -14.0
Bankruptcies 5 1 2 400.0 150.0 31 42 -26.2
Proposals 0 3 1 -100.0 -100.0 12 8 50.0
Yukon 1 6 3 -83.3 -66.7 38 42 -9.5
Bankruptcies 1 6 3 -83.3 -66.7 29 39 -25.6
Proposals 0 0 0 -- -- 9 3 200.0
Nunavut 2 0 2 -- 0.0 4 11 -63.6
Bankruptcies 2 0 2 -- 0.0 3 10 -70.0
Proposals 0 0 0 -- -- 1 1 0.0
Canada 11,813 11,788 12,999 0.2 -9.1 141,311 156,255 -9.6
Bankruptcies 8,136 8,116 9,245 0.2 -12.0 98,470 121,779 -19.1
Proposals 3,677 3,672 3,754 0.1 -2.1 42,841 34,476 24.3
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Oct. 2010 Sept. 2010 Oct. 2009 Sept. 2010 to Oct. 2010 Oct. 2009 to Oct. 2010 10-31-2010 10-31-2009 % Change
Newfoundland and Labrador 214 162 223 32.1 -4.0 2,474 2,582 -4.2
Bankruptcies 207 151 211 37.1 -1.9 2,335 2,472 -5.5
Proposals 7 11 12 -36.4 -41.7 139 110 26.4
Prince Edward Island 46 55 62 -16.4 -25.8 581 526 10.5
Bankruptcies 42 46 58 -8.7 -27.6 510 502 1.6
Proposals 4 9 4 -55.6 0.0 71 24 195.8
Nova Scotia 432 439 497 -1.6 -13.1 5,105 5,206 -1.9
Bankruptcies 345 353 415 -2.3 -16.9 4,182 4,527 -7.6
Proposals 87 86 82 1.2 6.1 923 679 35.9
New Brunswick 247 333 304 -25.8 -18.8 3,669 3,796 -3.3
Bankruptcies 204 286 244 -28.7 -16.4 3,059 3,261 -6.2
Proposals 43 47 60 -8.5 -28.3 610 535 14.0
Quebec 3,245 3,192 3,517 1.7 -7.7 37,767 41,228 -8.4
Bankruptcies 2,513 2,353 2,635 6.8 -4.6 28,228 34,132 -17.3
Proposals 732 839 882 -12.8 -17.0 9,539 7,096 34.4
Ontario 4,790 4,764 5,423 0.5 -11.7 57,754 65,801 -12.2
Bankruptcies 2,685 2,783 3,437 -3.5 -21.9 34,486 46,555 -25.9
Proposals 2,105 1,981 1,986 6.3 6.0 23,268 19,246 20.9
Manitoba 214 210 254 1.9 -15.7 2,684 3,063 -12.4
Bankruptcies 157 153 182 2.6 -13.7 2,019 2,430 -16.9
Proposals 57 57 72 0.0 -20.8 665 633 5.1
Saskatchewan 181 185 206 -2.2 -12.1 2,331 2,380 -2.1
Bankruptcies 111 137 129 -19.0 -14.0 1,553 1,770 -12.3
Proposals 70 48 77 45.8 -9.1 778 610 27.5
Alberta 936 947 908 -1.2 3.1 10,949 11,783 -7.1
Bankruptcies 700 732 690 -4.4 1.4 8,284 9,867 -16.0
Proposals 236 215 218 9.8 8.3 2,665 1,916 39.1
British Columbia 1,129 1,082 1,054 4.3 7.1 12,567 12,883 -2.5
Bankruptcies 872 821 808 6.2 7.9 9,609 10,532 -8.8
Proposals 257 261 246 -1.5 4.5 2,958 2,351 25.8
Northwest Territories 5 3 3 66.7 66.7 42 50 -16.0
Bankruptcies 5 1 2 400.0 150.0 31 42 -26.2
Proposals 0 2 1 -100.0 -100.0 11 8 37.5
Yukon 1 6 3 -83.3 -66.7 35 42 -16.7
Bankruptcies 1 6 3 -83.3 -66.7 29 39 -25.6
Proposals 0 0 0 -- -- 6 3 100.0
Nunavut 2 0 2 -- 0.0 4 10 -60.0
Bankruptcies 2 0 2 -- 0.0 3 10 -70.0
Proposals 0 0 0 -- -- 1 0 --
Canada 11,442 11,378 12,456 0.6 -8.1 135,962 149,350 -9.0
Bankruptcies 7,844 7,822 8,816 0.3 -11.0 94,328 116,139 -18.8
Proposals 3,598 3,556 3,640 1.2 -1.2 41,634 33,211 25.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Oct. 2010 Sept. 2010 Oct. 2009 Sept. 2010 to Oct. 2010 Oct. 2009 to Oct. 2010 10-31-2010 10-31-2009 % Change
Newfoundland and Labrador 1 0 7 -- -85.7 19 37 -48.6
Bankruptcies 1 0 7 -- -85.7 19 36 -47.2
Proposals 0 0 0 -- -- 0 1 -100.0
Prince Edward Island 7 0 1 -- 600.0 24 32 -25.0
Bankruptcies 4 0 0 -- -- 19 25 -24.0
Proposals 3 0 1 -- 200.0 5 7 -28.6
Nova Scotia 13 17 8 -23.5 62.5 170 156 9.0
Bankruptcies 12 14 5 -14.3 140.0 139 135 3.0
Proposals 1 3 3 -66.7 -66.7 31 21 47.6
New Brunswick 10 7 13 42.9 -23.1 92 150 -38.7
Bankruptcies 8 5 13 60.0 -38.5 76 111 -31.5
Proposals 2 2 0 0.0 -- 16 39 -59.0
Quebec 148 160 216 -7.5 -31.5 2,124 2,576 -17.5
Bankruptcies 116 97 150 19.6 -22.7 1,515 1,988 -23.8
Proposals 32 63 66 -49.2 -51.5 609 588 3.6
Ontario 128 145 210 -11.7 -39.0 1,921 2,628 -26.9
Bankruptcies 100 114 187 -12.3 -46.5 1,590 2,279 -30.2
Proposals 28 31 23 -9.7 21.7 331 349 -5.2
Manitoba 8 8 6 0.0 33.3 85 89 -4.5
Bankruptcies 7 6 3 16.7 133.3 69 71 -2.8
Proposals 1 2 3 -50.0 -66.7 16 18 -11.1
Saskatchewan 11 14 7 -21.4 57.1 158 214 -26.2
Bankruptcies 8 11 4 -27.3 100.0 103 167 -38.3
Proposals 3 3 3 0.0 0.0 55 47 17.0
Alberta 32 40 40 -20.0 -20.0 465 495 -6.1
Bankruptcies 24 34 33 -29.4 -27.3 379 416 -8.9
Proposals 8 6 7 33.3 14.3 86 79 8.9
British Columbia 13 18 35 -27.8 -62.9 287 527 -45.5
Bankruptcies 12 13 27 -7.7 -55.6 233 412 -43.4
Proposals 1 5 8 -80.0 -87.5 54 115 -53.0
Northwest Territories 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 1 0 -100.0 -- 1 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 371< /b> 410 543 -9.5 -31.7 5,349 6,905 -22.5
Bankruptcies 292 294 429 -0.7 -31.9 4,142 5,640 -26.6
Proposals 79 116 114 -31.9 -30.7 1,207 1,265 -4.6
Table 4: Insolvencies by NAICS Economic Sectors Canada
Sector Volume % Change 12-Month Period Ending
Oct. 2010 Sept. 2010 Oct. 2009 Sept. 2010 to Oct. 2010 Oct. 2009 to Oct. 2010 10-31-2010 10-31-2009 % Change
Agriculture, Forestry, Fishing and Hunting 14 6 14 133.3 0.0 159 265 -40.0
Bankruptcies 8 4 8 100.0 0.0 116 210 -44.8
Proposals 6 2 6 200.0 0.0 43 55 -21.8
Mining and Oil and Gas Extraction 4 6 7 -33.3 -42.9 65 60 8.3
Bankruptcies 2 2 6 0.0 -66.7 42 42 0.0
Proposals 2 4 1 -50.0 100.0 23 18 27.8
Utilities 0 2 1 -100.0 -100.0 13 22 -40.9
Bankruptcies 0 2 1 -100.0 -100.0 13 17 -23.5
Proposals 0 0 0 -- -- 0 5 -100.0
Construction 59 64 81 -7.8 -27.2 867 1,022 -15.2
Bankruptcies 50 53 70 -5.7 -28.6 686 880 -22.0
Proposals 9 11 11 -18.2 -18.2 181 142 27.5
Manufacturing 45 55 67 -18.2 -32.8 581 784 -25.9
Bankruptcies 30 41 50 -26.8 -40.0 450 609 -26.1
Proposals 15 14 17 7.1 -11.8 131 175 -25.1
Wholesale Trade 19 24 31 -20.8 -38.7 295 388 -24.0
Bankruptcies 17 20 26 -15.0 -34.6 231 314 -26.4
Proposals 2 4 5 -50.0 -60.0 64 74 -13.5
Retail Trade 65 75 76 -13.3 -14.5 769 966 -20.4
Bankruptcies 54 50 63 8.0 -14.3 626 802 -21.9
Proposals 11 25 13 -56.0 -15.4 143 164 -12.8
Transportation and Warehousing 27 28 38 -3.6 -28.9 428 626 -31.6
Bankruptcies 19 24 33 -20.8 -42.4 348 509 -31.6
Proposals 8 4 5 100.0 60.0 80 117 -31.6
Information and Cultural Industries 3 5 3 -40.0 0.0 86 119 -27.7
Bankruptcies 2 1 2 100.0 0.0 58 89 -34.8
Proposals 1 4 1 -75.0 0.0 28 30 -6.7
Finance and Insurance 12 8 15 50.0 -20.0 105 150 -30.0
Bankruptcies 10 5 14 100.0 -28.6 87 122 -28.7
Proposals 2 3 1 -33.3 100.0 18 28 -35.7
Real Estate and Rental and Leasing 14 6 23 133.3 -39.1 187 202 -7.4
Bankruptcies 12 4 14 200.0 -14.3 128 143 -10.5
Proposals 2 2 9 0.0 -77.8 59 59 0.0
Professional, Scientific and Technical Services 13 21 38 -38.1 -65.8 345 427 -19.2
Bankruptcies 6 14 29 -57.1 -79.3 247 361 -31.6
Proposals 7 7 9 0.0 -22.2 98 66 48.5
Management of Companies and Enterprises 2 1 2 100.0 0.0 70 40 75.0
Bankruptcies 2 0 2 -- 0.0 48 33 45.5
Proposals 0 1 0 -100.0 -- 22 7 214.3
Administrative and Support, Waste Management and Remediation Services 17 16 31 6.3 -45.2 218 300 -27.3
Bankruptcies 15 11 26 36.4 -42.3 164 257 -36.2
Proposals 2 5 5 -60.0 -60.0 54 43 25.6
Educational Services 1 6 4 -83.3 -75.0 39 47 -17.0
Bankruptcies 1 4 4 -75.0 -75.0 30 40 -25.0
Proposals 0 2 0 -100.0 -- 9 7 28.6
Health Care and Social Assistance 3 5 6 -40.0 -50.0 66 80 -17.5
Bankruptcies 2 3 5 -33.3 -60.0 49 64 -23.4
Proposals 1 2 1 -50.0 0.0 17 16 6.3
Arts, Entertainment and Recreation 2 10 11 -80.0 -81.8 101 147 -31.3
Bankruptcies 2 9 4 -77.8 -50.0 81 125 -35.2
Proposals 0 1 7 -100.0 -100.0 20 22 -9.1
Accommodation and Food Services 41 50 71 -18.0 -42.3 653 832 -21.5
Bankruptcies 32 30 53 6.7 -39.6 484 661 -26.8
Proposals 9 20 18 -55.0 -50.0 169 171 -1.2
Other Services (except Public Administration) 30 22 23 36.4 30.4 294 420 -30.0
Bankruptcies 28 17 18 64.7 55.6 248 356 -30.3
Proposals 2 5 5 -60.0 -60.0 46 64 -28.1
Public Administration 0 0 1 -- -100.0 8 7 14.3
Bankruptcies 0 0 1 -- -100.0 6 5 20.0
Proposals 0 0 0 -- -- 2 2 0.0
Total 371 410 543 -9.5 -31.7 5,349 6,905 -22.5
Bankruptcies 292 294 429 -0.7 -31.9 4,142 5,640 -26.6
Proposals 79 116 114 -31.9 -30.7 1,207 1,265 -4.6
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