Insolvency Statistics in Canada — March 2011

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

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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 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
March 2011 Feb. 2011 March 2010 Feb. 2011 to March 2011 March 2010 to March 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 242 157 278 54.1 -12.9 2 424 2 698 -10.2
Bankruptcies 226 147 266 53.7 -15.0 2 280 2 575 -11.5
Proposals 16 10 12 60.0 33.3 144 123 17.1
Prince Edward Island 86 47 53 83.0 62.3 644 599 7.5
Bankruptcies 77 40 48 92.5 60.4 575 548 4.9
Proposals 9 7 5 28.6 80.0 69 51 35.3
Nova Scotia 521 422 494 23.5 5.5 5 287 5 540 -4.6
Bankruptcies 412 321 422 28.3 -2.4 4 256 4 764 -10.7
Proposals 109 101 72 7.9 51.4 1 031 776 32.9
New Brunswick 321 266 331 20.7 -3.0 3 694 4 023 -8.2
Bankruptcies 258 224 283 15.2 -8.8 3 088 3 426 -9.9
Proposals 63 42 48 50.0 31.3 606 597 1.5
Quebec 3 599 3 337 3 650 7.9 -1.4 39 642 43 124 -8.1
Bankruptcies 2 541 2 384 2 657 6.6 -4.4 29 216 34 239 -14.7
Proposals 1 058 953 993 11.0 6.5 10 426 8 885 17.3
Ontario 5 310 4 136 5 633 28.4 -5.7 57 066 68 239 -16.4
Bankruptcies 2 698 2 021 3 339 33.5 -19.2 32 350 46 341 -30.2
Proposals 2 612 2 115 2 294 23.5 13.9 24 716 21 898 12.9
Manitoba 241 201 285 19.9 -15.4 2 665 3 119 -14.6
Bankruptcies 171 131 205 30.5 -16.6 1 964 2 434 -19.3
Proposals 70 70 80 0.0 -12.5 701 685 2.3
Saskatchewan 233 162 236 43.8 -1.3 2 403 2 715 -11.5
Bankruptcies 149 96 162 55.2 -8.0 1 543 1 959 -21.2
Proposals 84 66 74 27.3 13.5 860 756 13.8
Alberta 963 886 1 077 8.7 -10.6 11 114 12 596 -11.8
Bankruptcies 706 658 824 7.3 -14.3 8 298 10 126 -18.1
Proposals 257 228 253 12.7 1.6 2 816 2 470 14.0
British Columbia 1 144 1 012 1 277 13.0 -10.4 12 769 13 644 -6.4
Bankruptcies 828 749 974 10.5 -15.0 9 628 10 819 -11.0
Proposals 316 263 303 20.2 4.3 3 141 2 825 11.2
Northwest Territories 6 5 4 20.0 50.0 48 47 2.1
Bankruptcies 4 2 3 100.0 33.3 31 40 -22.5
Proposals 2 3 1 -33.3 100.0 17 7 142.9
Yukon 4 1 3 300.0 33.3 43 48 -10.4
Bankruptcies 3 0 3 -- 0.0 37 41 -9.8
Proposals 1 1 0 0.0 -- 6 7 -14.3
Nunavut 1 1 1 0.0 0.0 5 10 -50.0
Bankruptcies 1 1 1 0.0 0.0 5 8 -37.5
Proposals 0 0 0 -- -- 0 2 -100.0
Canada 12 671 10 633 13 322 19.2 -4.9 137 804 156 402 -11.9
Bankruptcies 8 074 6 774 9 187 19.2 -12.1 93 271 117 320 -20.5
Proposals 4 597 3 859 4 135 19.1 11.2 44 533 39 082 13.9
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
March 2011 Feb. 2011 March 2010 Feb. 2011 to March 2011 March 2010 to March 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 236 154 277 53.2 -14.8 2 396 2 665 -10.1
Bankruptcies 220 144 265 52.8 -17.0 2 254 2 543 -11.4
Proposals 16 10 12 60.0 33.3 142 122 16.4
Prince Edward Island 84 46 51 82.6 64.7 624 567 10.1
Bankruptcies 75 39 46 92.3 63.0 561 520 7.9
Proposals 9 7 5 28.6 80.0 63 47 34.0
Nova Scotia 505 409 482 23.5 4.8 5 106 5 385 -5.2
Bankruptcies 396 310 414 27.7 -4.3 4 104 4 630 -11.4
Proposals 109 99 68 10.1 60.3 1 002 755 32.7
New Brunswick 316 261 327 21.1 -3.4 3 622 3 898 -7.1
Bankruptcies 255 221 279 15.4 -8.6 3 029 3 331 -9.1
Proposals 61 40 48 52.5 27.1 593 567 4.6
Quebec 3 376 3 163 3 455 6.7 -2.3 37 543 40 787 -8.0
Bankruptcies 2 386 2 245 2 515 6.3 -5.1 27 680 32 493 -14.8
Proposals 990 918 940 7.8 5.3 9 863 8 294 18.9
Ontario 5 105 4 020 5 442 27.0 -6.2 55 300 65 802 -16.0
Bankruptcies 2 539 1 932 3 188 31.4 -20.4 30 902 44 258 -30.2
Proposals 2 566 2 088 2 254 22.9 13.8 24 398 21 544 13.2
Manitoba 231 194 274 19.1 -15.7 2 593 3 022 -14.2
Bankruptcies 164 128 196 28.1 -16.3 1 907 2 355 -19.0
Proposals 67 66 78 1.5 -14.1 686 667 2.8
Saskatchewan 211 151 222 39.7 -5.0 2 257 2 500 -9.7
Bankruptcies 139 88 150 58.0 -7.3 1 449 1 803 -19.6
Proposals 72 63 72 14.3 0.0 808 697 15.9
Alberta 935 860 1 013 8.7 -7.7 10 700 12 099 -11.6
Bankruptcies 680 636 776 6.9 -12.4 7 947 9 730 -18.3
Proposals 255 224 237 13.8 7.6 2 753 2 369 16.2
British Columbia 1 124 1 000 1 245 12.4 -9.7 12 525 13 197 -5.1
Bankruptcies 813 741 948 9.7 -14.2 9 426 10 475 -10.0
Proposals 311 259 297 20.1 4.7 3 099 2 722 13.9
Northwest Territories 5 5 4 0.0 25.0 45 47 -4.3
Bankruptcies 4 2 3 100.0 33.3 31 40 -22.5
Proposals 1 3 1 -66.7 0.0 14 7 100.0
Yukon 4 1 3 300.0 33.3 41 46 -10.9
Bankruptcies 3 0 3 -- 0.0 37 41 -9.8
Proposals 1 1 0 0.0 -- 4 5 -20.0
Nunavut 1 1 1 0.0 0.0 5 9 -44.4
Bankruptcies 1 1 1 0.0 0.0 5 8 -37.5
Proposals 0 0 0 -- -- 0 1 -100.0
Canada 12 133 10 265 12 796 18.2 -5.2 132 757 150 024 -11.5
Bankruptcies 7 675 6 487 8 784 18.3 -12.6 89 332 112 227 -20.4
Proposals 4 458 3 778 4 012 18.0 11.1 43 425 37 797 14.9
Table 3: Insolvencies Filed by Businesses
  Volume % Change 12-Month Period Ending
March 2011 Feb. 2011 March 2010 Feb. 2011 to March 2011 March 2010 to March 2011 03-31-2011 03-31-2010 % Change
Newfoundland and Labrador 6 3 1 100.0 500.0 28 33 -15.2
Bankruptcies 6 3 1 100.0 500.0 26 32 -18.8
Proposals 0 0 0 -- -- 2 1 100.0
Prince Edward Island 2 1 2 100.0 0.0 20 32 -37.5
Bankruptcies 2 1 2 100.0 0.0 14 28 -50.0
Proposals 0 0 0 -- -- 6 4 50.0
Nova Scotia 16 13 12 23.1 33.3 181 155 16.8
Bankruptcies 16 11 8 45.5 100.0 152 134 13.4
Proposals 0 2 4 -100.0 -100.0 29 21 38.1
New Brunswick 5 5 4 0.0 25.0 72 125 -42.4
Bankruptcies 3 3 4 0.0 -25.0 59 95 -37.9
Proposals 2 2 0 0.0 -- 13 30 -56.7
Quebec 223 174 195 28.2 14.4 2 099 2 337 -10.2
Bankruptcies 155 139 142 11.5 9.2 1 536 1 746 -12.0
Proposals 68 35 53 94.3 28.3 563 591 -4.7
Ontario 205 116 191 76.7 7.3 1 766 2 437 -27.5
Bankruptcies 159 89 151 78.7 5.3 1 448 2 083 -30.5
Proposals 46 27 40 70.4 15.0 318 354 -10.2
Manitoba 10 7 11 42.9 -9.1 72 97 -25.8
Bankruptcies 7 3 9 133.3 -22.2 57 79 -27.8
Proposals 3 4 2 -25.0 50.0 15 18 -16.7
Saskatchewan 22 11 14 100.0 57.1 146 215 -32.1
Bankruptcies 10 8 12 25.0 -16.7 94 156 -39.7
Proposals 12 3 2 300.0 500.0 52 59 -11.9
Alberta 28 26 64 7.7 -56.3 414 497 -16.7
Bankruptcies 26 22 48 18.2 -45.8 351 396 -11.4
Proposals 2 4 16 -50.0 -87.5 63 101 -37.6
British Columbia 20 12 32 66.7 -37.5 244 447 -45.4
Bankruptcies 15 8 26 87.5 -42.3 202 344 -41.3
Proposals 5 4 6 25.0 -16.7 42 103 -59.2
Northwest Territories 1 0 0 -- -- 3 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 1 0 0 -- -- 3 0 --
Yukon 0 0 0 -- -- 2 2 0.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 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 538 368 526 46.2 2.3 5 047 6 378 -20.9
Bankruptcies 399 287 403 39.0 -1.0 3 939 5 093 -22.7
Proposals 139 81 123 71.6 13.0 1 108 1 285 -13.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
  Volume % Change 12-Month Period Ending
March 2011 Feb. 2011 March 2010 Feb. 2011 to March 2011 March 2010 to March 2011 03-31-2011 03-31-2010 % Change
Agriculture, Forestry, Fishing and Hunting 20 13 13 53.8 53.8 142 220 -35.5
Bankruptcies 13 10 7 30.0 85.7 99 174 -43.1
Proposals 7 3 6 133.3 16.7 43 46 -6.5
Mining and Oil and Gas Extraction 1 1 7 0.0 -85.7 46 76 -39.5
Bankruptcies 1 0 5 -- -80.0 30 54 -44.4
Proposals 0 1 2 -100.0 -100.0 16 22 -27.3
Utilities 3 0 3 -- 0.0 8 22 -63.6
Bankruptcies 2 0 3 -- -33.3 7 19 -63.2
Proposals 1 0 0 -- -- 1 3 -66.7
Construction 96 76 91 26.3 5.5 838 972 -13.8
Bankruptcies 75 62 77 21.0 -2.6 679 793 -14.4
Proposals 21 14 14 50.0 50.0 159 179 -11.2
Manufacturing 62 32 54 93.8 14.8 539 707 -23.8
Bankruptcies 37 21 40 76.2 -7.5 393 554 -29.1
Proposals 25 11 14 127.3 78.6 146 153 -4.6
Wholesale Trade 29 21 30 38.1 -3.3 295 340 -13.2
Bankruptcies 20 16 26 25.0 -23.1 230 285 -19.3
Proposals 9 5 4 80.0 125.0 65 55 18.2
Retail Trade 79 50 74 58.0 6.8 725 894 -18.9
Bankruptcies 66 40 56 65.0 17.9 592 728 -18.7
Proposals 13 10 18 30.0 -27.8 133 166 -19.9
Transportation and Warehousing 26 18 44 44.4 -40.9 341 578 -41.0
Bankruptcies 24 16 36 50.0 -33.3 285 466 -38.8
Proposals 2 2 8 0.0 -75.0 56 112 -50.0
Information and Cultural Industries 9 4 12 125.0 -25.0 77 106 -27.4
Bankruptcies 7 3 8 133.3 -12.5 50 75 -33.3
Proposals 2 1 4 100.0 -50.0 27 31 -12.9
Finance and Insurance 11 2 10 450.0 10.0 103 137 -24.8
Bankruptcies 10 2 9 400.0 11.1 83 119 -30.3
Proposals 1 0 1 -- 0.0 20 18 11.1
Real Estate and Rental and Leasing 14 20 22 -30.0 -36.4 182 200 -9.0
Bankruptcies 8 14 14 -42.9 -42.9 136 132 3.0
Proposals 6 6 8 0.0 -25.0 46 68 -32.4
Professional, Scientific and Technical Services 38 25 34 52.0 11.8 307 416 -26.2
Bankruptcies 19 21 23 -9.5 -17.4 223 325 -31.4
Proposals 19 4 11 375.0 72.7 84 91 -7.7
Management of Companies and Enterprises 5 2 3 150.0 66.7 70 37 89.2
Bankruptcies 5 1 3 400.0 66.7 49 30 63.3
Proposals 0 1 0 -100.0 -- 21 7 200.0
Administrative and Support, Waste Management and Remediation Services 20 14 20 42.9 0.0 211 282 -25.2
Bankruptcies 15 9 10 66.7 50.0 173 232 -25.4
Proposals 5 5 10 0.0 -50.0 38 50 -24.0
Educational Services 4 0 7 -- -42.9 39 45 -13.3
Bankruptcies 3 0 4 -- -25.0 32 37 -13.5
Proposals 1 0 3 -- -66.7 7 8 -12.5
Health Care and Social Assistance 13 4 5 225.0 160.0 67 79 -15.2
Bankruptcies 13 4 5 225.0 160.0 50 68 -26.5
Proposals 0 0 0 -- -- 17 11 54.5
Arts, Entertainment and Recreation 6 7 14 -14.3 -57.1 86 134 -35.8
Bankruptcies 5 6 8 -16.7 -37.5 75 107 -29.9
Proposals 1 1 6 0.0 -83.3 11 27 -59.3
Accommodation and Food Services 72 50 62 44.0 16.1 659 762 -13.5
Bankruptcies 54 39 50 38.5 8.0 494 586 -15.7
Proposals 18 11 12 63.6 50.0 165 176 -6.3
Other Services (except Public Administration) 30 29 21 3.4 42.9 306 362 -15.5
Bankruptcies 22 23 19 -4.3 15.8 256 302 -15.2
Proposals 8 6 2 33.3 300.0 50 60 -16.7
Public Administration 0 0 0 -- -- 6 8 -25.0
Bankruptcies 0 0 0 -- -- 3 6 -50.0
Proposals 0 0 0 -- -- 3 2 50.0
Total 538 368 526 46.2 2.3 5 047 6 378 -20.9
Bankruptcies 399 287 403 39.0 -1.0 3 939 5 093 -22.7
Proposals 139 81 123 71.6 13.0 1 108 1 285 -13.8