Insolvency Statistics in Canada—First Quarter of 2011 (Tables 1–3)

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Insolvency Statistics — First Quarter of 2011

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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.
Economic Region (ER):
Standard geographic units created for analysis of regional economic activity (Statistics Canada's geographical definitions of ERs).
Census Metropolitan Area (CMA):
Each census metropolitan 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 (Statistics Canada's geographical definitions of CMAs).
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
Q1 2011 Q4 2010 Q1 2010 Q4 2010 to Q1 2011 Q1 2010 to Q1 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 551 618 671 -10.8 -17.9 2,424 2,698 -10.2
Bankruptcies 518 587 637 -11.8 -18.7 2,280 2,575 -11.5
Proposals 33 31 34 6.5 -2.9 144 123 17.1
Prince Edward Island 182 157 136 15.9 33.8 644 599 7.5
Bankruptcies 165 142 118 16.2 39.8 575 548 4.9
Proposals 17 15 18 13.3 -5.6 69 51 35.3
Nova Scotia 1,287 1,306 1,297 -1.5 -0.8 5,287 5,540 -4.6
Bankruptcies 1,014 1,044 1,076 -2.9 -5.8 4,256 4,764 -10.7
Proposals 273 262 221 4.2 23.5 1,031 776 32.9
New Brunswick 786 873 888 -10.0 -11.5 3,694 4,023 -8.2
Bankruptcies 644 730 735 -11.8 -12.4 3,088 3,426 -9.9
Proposals 142 143 153 -0.7 -7.2 606 597 1.5
Quebec 9,918 9,867 10,146 0.5 -2.2 39,642 43,124 -8.1
Bankruptcies 7,057 7,400 7,461 -4.6 -5.4 29,216 34,239 -14.7
Proposals 2,861 2,467 2,685 16.0 6.6 10,426 8,885 17.3
Ontario 13,153 14,528 14,566 -9.5 -9.7 57,066 68,239 -16.4
Bankruptcies 6,567 8,166 8,750 -19.6 -24.9 32,350 46,341 -30.2
Proposals 6,586 6,362 5,816 3.5 13.2 24,716 21,898 12.9
Manitoba 600 678 686 -11.5 -12.5 2,665 3,119 -14.6
Bankruptcies 420 512 518 -18.0 -18.9 1,964 2,434 -19.3
Proposals 180 166 168 8.4 7.1 701 685 2.3
Saskatchewan 602 561 669 7.3 -10.0 2,403 2,715 -11.5
Bankruptcies 372 355 456 4.8 -18.4 1,543 1,959 -21.2
Proposals 230 206 213 11.7 8.0 860 756 13.8
Alberta 2,697 2,690 2,917 0.3 -7.5 11,114 12,596 -11.8
Bankruptcies 1,972 1,973 2,202 -0.1 -10.4 8,298 10,126 -18.1
Proposals 725 717 715 1.1 1.4 2,816 2,470 14.0
British Columbia 3,067 3,288 3,304 -6.7 -7.2 12,769 13,644 -6.4
Bankruptcies 2,249 2,489 2,524 -9.6 -10.9 9,628 10,819 -11.0
Proposals 818 799 780 2.4 4.9 3,141 2,825 11.2
Northwest Territories 15 8 11 87.5 36.4 48 47 2.1
Bankruptcies 8 7 8 14.3 0.0 31 40 -22.5
Proposals 7 1 3 600.0 133.3 17 7 142.9
Yukon 10 16 8 -37.5 25.0 43 48 -10.4
Bankruptcies 8 14 5 -42.9 60.0 37 41 -9.8
Proposals 2 2 3 0.0 -33.3 6 7 -14.3
Nunavut 2 3 1 -33.3 100.0 5 10 -50.0
Bankruptcies 2 3 1 -33.3 100.0 5 8 -37.5
Proposals 0 0 0 -- -- 0 2 -100.0
Canada 32,870 34,593 35,300 -5.0 -6.9 137,804 156,402 -11.9
Bankruptcies 20,996 23,422 24,491 -10.4 -14.3 93,271 117,320 -20.5
Proposals 11,874 11,171 10,809 6.3 9.9 44,533 39,082 13.9

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Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2011 Q4 2010 Q1 2010 Q4 2010 to Q1 2011 Q1 2010 to Q1 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 541 610 666 -11.3 -18.8 2,396 2,665 -10.1
Bankruptcies 508 581 632 -12.6 -19.6 2,254 2,543 -11.4
Proposals 33 29 34 13.8 -2.9 142 122 16.4
Prince Edward Island 179 148 131 20.9 36.6 624 567 10.1
Bankruptcies 162 137 113 18.2 43.4 561 520 7.9
Proposals 17 11 18 54.5 -5.6 63 47 34.0
Nova Scotia 1,246 1,262 1,270 -1.3 -1.9 5,106 5,385 -5.2
Bankruptcies 978 1,004 1,054 -2.6 -7.2 4,104 4,630 -11.4
Proposals 268 258 216 3.9 24.1 1,002 755 32.7
New Brunswick 773 855 864 -9.6 -10.5 3,622 3,898 -7.1
Bankruptcies 637 714 717 -10.8 -11.2 3,029 3,331 -9.1
Proposals 136 141 147 -3.5 -7.5 593 567 4.6
Quebec 9,368 9,351 9,596 0.2 -2.4 37,543 40,787 -8.0
Bankruptcies 6,647 6,994 7,067 -5.0 -5.9 27,680 32,493 -14.8
Proposals 2,721 2,357 2,529 15.4 7.6 9,863 8,294 18.9
Ontario 12,723 14,106 14,042 -9.8 -9.4 55,300 65,802 -16.0
Bankruptcies 6,228 7,828 8,326 -20.4 -25.2 30,902 44,258 -30.2
Proposals 6,495 6,278 5,716 3.5 13.6 24,398 21,544 13.2
Manitoba 579 660 659 -12.3 -12.1 2,593 3,022 -14.2
Bankruptcies 406 495 493 -18.0 -17.6 1,907 2,355 -19.0
Proposals 173 165 166 4.8 4.2 686 667 2.8
Saskatchewan 551 528 620 4.4 -11.1 2,257 2,500 -9.7
Bankruptcies 344 331 423 3.9 -18.7 1,449 1,803 -19.6
Proposals 207 197 197 5.1 5.1 808 697 15.9
Alberta 2,607 2,585 2,777 0.9 -6.1 10,700 12,099 -11.6
Bankruptcies 1,894 1,886 2,097 0.4 -9.7 7,947 9,730 -18.3
Proposals 713 699 680 2.0 4.9 2,753 2,369 16.2
British Columbia 3,012 3,232 3,210 -6.8 -6.2 12,525 13,197 -5.1
Bankruptcies 2,204 2,442 2,452 -9.7 -10.1 9,426 10,475 -10.0
Proposals 808 790 758 2.3 6.6 3,099 2,722 13.9
Northwest Territories 13 8 11 62.5 18.2 45 47 -4.3
Bankruptcies 8 7 8 14.3 0.0 31 40 -22.5
Proposals 5 1 3 400.0 66.7 14 7 100.0
Yukon 10 15 8 -33.3 25.0 41 46 -10.9
Bankruptcies 8 14 5 -42.9 60.0 37 41 -9.8
Proposals 2 1 3 100.0 -33.3 4 5 -20.0
Nunavut 2 3 1 -33.3 100.0 5 9 -44.4
Bankruptcies 2 3 1 -33.3 100.0 5 8 -37.5
Proposals 0 0 0 -- -- 0 1 -100.0
Canada 31,604 33,363 33,855 -5.3 -6.6 132,757 150,024 -11.5
Bankruptcies 20,026 22,436 23,388 -10.7 -14.4 89,332 112,227 -20.4
Proposals 11,578 10,927 10,467 6.0 10.6 43,425 37,797 14.9

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Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2011 Q4 2010 Q1 2010 Q4 2010 to Q1 2011 Q1 2010 to Q1 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 10 8 5 25.0 100.0 28 33 -15.2
Bankruptcies 10 6 5 66.7 100.0 26 32 -18.8
Proposals 0 2 0 -100.0 -- 2 1 100.0
Prince Edward Island 3 9 5 -66.7 -40.0 20 32 -37.5
Bankruptcies 3 5 5 -40.0 -40.0 14 28 -50.0
Proposals 0 4 0 -100.0 -- 6 4 50.0
Nova Scotia 41 44 27 -6.8 51.9 181 155 16.8
Bankruptcies 36 40 22 -10.0 63.6 152 134 13.4
Proposals 5 4 5 25.0 0.0 29 21 38.1
New Brunswick 13 18 24 -27.8 -45.8 72 125 -42.4
Bankruptcies 7 16 18 -56.3 -61.1 59 95 -37.9
Proposals 6 2 6 200.0 0.0 13 30 -56.7
Quebec 550 516 550 6.6 0.0 2,099 2,337 -10.2
Bankruptcies 410 406 394 1.0 4.1 1,536 1,746 -12.0
Proposals 140 110 156 27.3 -10.3 563 591 -4.7
Ontario 430 422 524 1.9 -17.9 1,766 2,437 -27.5
Bankruptcies 339 338 424 0.3 -20.0 1,448 2,083 -30.5
Proposals 91 84 100 8.3 -9.0 318 354 -10.2
Manitoba 21 18 27 16.7 -22.2 72 97 -25.8
Bankruptcies 14 17 25 -17.6 -44.0 57 79 -27.8
Proposals 7 1 2 600.0 250.0 15 18 -16.7
Saskatchewan 51 33 49 54.5 4.1 146 215 -32.1
Bankruptcies 28 24 33 16.7 -15.2 94 156 -39.7
Proposals 23 9 16 155.6 43.8 52 59 -11.9
Alberta 90 105 140 -14.3 -35.7 414 497 -16.7
Bankruptcies 78 87 105 -10.3 -25.7 351 396 -11.4
Proposals 12 18 35 -33.3 -65.7 63 101 -37.6
British Columbia 55 56 94 -1.8 -41.5 244 447 -45.4
Bankruptcies 45 47 72 -4.3 -37.5 202 344 -41.3
Proposals 10 9 22 11.1 -54.5 42 103 -59.2
Northwest Territories 2 0 0 -- -- 3 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 2 0 0 -- -- 3 0 --
Yukon 0 1 0 -100.0 -- 2 2 0.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 1 0 -100.0 -- 2 2 0.0
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Canada 1,266 1,230 1,445 2.9 -12.4 5,047 6,378 -20.9
Bankruptcies 970 986 1,103 -1.6 -12.1 3,939 5,093 -22.7
Proposals 296 244 342 21.3 -13.5 1,108 1,285 -13.8
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