Archived — Insolvency Statistics in Canada—May 2012

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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
May 2012 April 2012 May 2011 April 2012 to May 2012 May 2011 to May 2012 05-31-2012 05-31-2011 % Change
Newfoundland and Labrador 178 164 214 8.5 -16.8 1,929 2,335 -17.4
Bankruptcies 157 148 196 6.1 -19.9 1,794 2,187 -18.0
Proposals 21 16 18 31.3 16.7 135 148 -8.8
Prince Edward Island 52 59 43 -11.9 20.9 612 653 -6.3
Bankruptcies 38 38 38 0.0 0.0 476 583 -18.4
Proposals 14 21 5 -33.3 180.0 136 70 94.3
Nova Scotia 420 404 356 4.0 18.0 4,555 5,089 -10.5
Bankruptcies 333 323 286 3.1 16.4 3,541 4,102 -13.7
Proposals 87 81 70 7.4 24.3 1,014 987 2.7
New Brunswick 366 318 287 15.1 27.5 3,847 3,611 6.5
Bankruptcies 302 240 238 25.8 26.9 3,030 3,005 0.8
Proposals 64 78 49 -17.9 30.6 817 606 34.8
Quebec 3,494 3,257 3,365 7.3 3.8 37,874 39,428 -3.9
Bankruptcies 2,430 2,252 2,425 7.9 0.2 26,676 28,934 -7.8
Proposals 1,064 1,005 940 5.9 13.2 11,198 10,494 6.7
Ontario 4,641 4,255 4,509 9.1 2.9 51,002 55,999 -8.9
Bankruptcies 2,264 2,164 2,336 4.6 -3.1 25,843 30,819 -16.1
Proposals 2,377 2,091 2,173 13.7 9.4 25,159 25,180 -0.1
Manitoba 179 172 181 4.1 -1.1 2,107 2,540 -17.0
Bankruptcies 116 119 136 -2.5 -14.7 1,453 1,856 -21.7
Proposals 63 53 45 18.9 40.0 654 684 -4.4
Saskatchewan 167 153 200 9.2 -16.5 2,046 2,370 -13.7
Bankruptcies 97 91 121 6.6 -19.8 1,233 1,512 -18.5
Proposals 70 62 79 12.9 -11.4 813 858 -5.2
Alberta 826 819 867 0.9 -4.7 10,100 10,977 -8.0
Bankruptcies 543 543 639 0.0 -15.0 6,793 8,106 -16.2
Proposals 283 276 228 2.5 24.1 3,307 2,871 15.2
British Columbia 1,072 1,129 980 -5.0 9.4 12,160 12,522 -2.9
Bankruptcies 711 752 695 -5.5 2.3 8,008 9,308 -14.0
Proposals 361 377 285 -4.2 26.7 4,152 3,214 29.2
Northwest Territories 1 5 2 -80.0 -50.0 48 46 4.3
Bankruptcies 1 2 0 -50.0 33 28 17.9
Proposals 0 3 2 -100.0 -100.0 15 18 -16.7
Yukon 1 2 2 -50.0 -50.0 29 43 -32.6
Bankruptcies 1 2 2 -50.0 -50.0 25 38 -34.2
Proposals 0 0 0 4 5 -20.0
Nunavut 0 0 0 5 6 -16.7
Bankruptcies 0 0 0 3 6 -50.0
Proposals 0 0 0 2 0
Canada 11,397 10,737 11,006 6.1 3.6 126,314 135,619 -6.9
Bankruptcies 6,993 6,674 7,112 4.8 -1.7 78,908 90,484 -12.8
Proposals 4,404 4,063 3,894 8.4 13.1 47,406 45,135 5.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2012 April 2012 May 2011 April 2012 to May 2012 May 2011 to May 2012 05-31-2012 05-31-2011 % Change
Newfoundland and Labrador 178 163 214 9.2 -16.8 1,909 2,307 -17.3
Bankruptcies 157 147 196 6.8 -19.9 1,776 2,161 -17.8
Proposals 21 16 18 31.3 16.7 133 146 -8.9
Prince Edward Island 52 59 42 -11.9 23.8 591 631 -6.3
Bankruptcies 38 38 38 0.0 0.0 458 569 -19.5
Proposals 14 21 4 -33.3 250.0 133 62 114.5
Nova Scotia 411 398 343 3.3 19.8 4,463 4,925 -9.4
Bankruptcies 325 318 275 2.2 18.2 3,465 3,964 -12.6
Proposals 86 80 68 7.5 26.5 998 961 3.9
New Brunswick 360 309 277 16.5 30.0 3,783 3,543 6.8
Bankruptcies 296 236 229 25.4 29.3 2,982 2,949 1.1
Proposals 64 73 48 -12.3 33.3 801 594 34.8
Quebec 3,292 3,091 3,155 6.5 4.3 35,813 37,319 -4.0
Bankruptcies 2,295 2,122 2,275 8.2 0.9 25,180 27,367 -8.0
Proposals 997 969 880 2.9 13.3 10,633 9,952 6.8
Ontario 4,528 4,140 4,376 9.4 3.5 49,461 54,301 -8.9
Bankruptcies 2,186 2,079 2,236 5.1 -2.2 24,646 29,456 -16.3
Proposals 2,342 2,061 2,140 13.6 9.4 24,815 24,845 -0.1
Manitoba 175 172 179 1.7 -2.2 2,040 2,474 -17.5
Bankruptcies 112 119 136 -5.9 -17.6 1,397 1,806 -22.6
Proposals 63 53 43 18.9 46.5 643 668 -3.7
Saskatchewan 153 139 189 10.1 -19.0 1,894 2,228 -15.0
Bankruptcies 89 81 112 9.9 -20.5 1,128 1,417 -20.4
Proposals 64 58 77 10.3 -16.9 766 811 -5.5
Alberta 791 794 839 -0.4 -5.7 9,751 10,598 -8.0
Bankruptcies 515 523 617 -1.5 -16.5 6,534 7,788 -16.1
Proposals 276 271 222 1.8 24.3 3,217 2,810 14.5
British Columbia 1,053 1,103 961 -4.5 9.6 11,891 12,283 -3.2
Bankruptcies 695 731 681 -4.9 2.1 7,800 9,116 -14.4
Proposals 358 372 280 -3.8 27.9 4,091 3,167 29.2
Northwest Territories 1 4 2 -75.0 -50.0 47 43 9.3
Bankruptcies 1 2 0 -50.0 33 28 17.9
Proposals 0 2 2 -100.0 -100.0 14 15 -6.7
Yukon 0 2 2 -100.0 -100.0 27 42 -35.7
Bankruptcies 0 2 2 -100.0 -100.0 23 38 -39.5
Proposals 0 0 0 4 4 0.0
Nunavut 0 0 0 5 6 -16.7
Bankruptcies 0 0 0 3 6 -50.0
Proposals 0 0 0 2 0
Canada 10,994 10,374 10,579 6.0 3.9 121,675 130,700 -6.9
Bankruptcies 6,709 6,398 6,797 4.9 -1.3 75,425 86,665 -13.0
Proposals 4,285 3,976 3,782 7.8 13.3 46,250 44,035 5.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2012 April 2012 May 2011 April 2012 to May 2012 May 2011 to May 2012 05-31-2012 05-31-2011 % Change
Newfoundland and Labrador 0 1 0 -100.0 20 28 -28.6
Bankruptcies 0 1 0 -100.0 18 26 -30.8
Proposals 0 0 0 2 2 0.0
Prince Edward Island 0 0 1 -100.0 21 22 -4.5
Bankruptcies 0 0 0 18 14 28.6
Proposals 0 0 1 -100.0 3 8 -62.5
Nova Scotia 9 6 13 50.0 -30.8 92 164 -43.9
Bankruptcies 8 5 11 60.0 -27.3 76 138 -44.9
Proposals 1 1 2 0.0 -50.0 16 26 -38.5
New Brunswick 6 9 10 -33.3 -40.0 64 68 -5.9
Bankruptcies 6 4 9 50.0 -33.3 48 56 -14.3
Proposals 0 5 1 -100.0 -100.0 16 12 33.3
Quebec 202 166 210 21.7 -3.8 2,061 2,109 -2.3
Bankruptcies 135 130 150 3.8 -10.0 1,496 1,567 -4.5
Proposals 67 36 60 86.1 11.7 565 542 4.2
Ontario 113 115 133 -1.7 -15.0 1,541 1,698 -9.2
Bankruptcies 78 85 100 -8.2 -22.0 1,197 1,363 -12.2
Proposals 35 30 33 16.7 6.1 344 335 2.7
Manitoba 4 0 2 100.0 67 66 1.5
Bankruptcies 4 0 0 56 50 12.0
Proposals 0 0 2 -100.0 11 16 -31.3
Saskatchewan 14 14 11 0.0 27.3 152 142 7.0
Bankruptcies 8 10 9 -20.0 -11.1 105 95 10.5
Proposals 6 4 2 50.0 200.0 47 47 0.0
Alberta 35 25 28 40.0 25.0 349 379 -7.9
Bankruptcies 28 20 22 40.0 27.3 259 318 -18.6
Proposals 7 5 6 40.0 16.7 90 61 47.5
British Columbia 19 26 19 -26.9 0.0 269 239 12.6
Bankruptcies 16 21 14 -23.8 14.3 208 192 8.3
Proposals 3 5 5 -40.0 -40.0 61 47 29.8
Northwest Territories 0 1 0 -100.0 1 3 -66.7
Bankruptcies 0 0 0 0 0
Proposals 0 1 0 -100.0 1 3 -66.7
Yukon 1 0 0 2 1 100.0
Bankruptcies 1 0 0 2 0
Proposals 0 0 0 0 1 -100.0
Nunavut 0 0 0 0 0
Bankruptcies 0 0 0 0 0
Proposals 0 0 0 0 0
Canada 403 363 427 11.0 -5.6 4,639 4,919 -5.7
Bankruptcies 284 276 315 2.9 -9.8 3,483 3,819 -8.8
Proposals 119 87 112 36.8 6.3 1,156 1,100 5.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
May 2012 April 2012 May 2011 April 2012 to May 2012 May 2011 to May 2012 05-31-2012 05-31-2011 % Change
Agriculture, Forestry, Fishing and Hunting 14 11 10 27.3 40.0 125 138 -9.4
Bankruptcies 10 8 4 25.0 150.0 98 89 10.1
Proposals 4 3 6 33.3 -33.3 27 49 -44.9
Mining and Oil and Gas Extraction 2 3 3 -33.3 -33.3 18 42 -57.1
Bankruptcies 2 3 2 -33.3 0.0 13 27 -51.9
Proposals 0 0 1 -100.0 5 15 -66.7
Utilities 1 3 1 -66.7 0.0 16 10 60.0
Bankruptcies 1 2 1 -50.0 0.0 12 8 50.0
Proposals 0 1 0 -100.0 4 2 100.0
Construction 76 62 74 22.6 2.7 804 814 -1.2
Bankruptcies 55 52 58 5.8 -5.2 613 659 -7.0
Proposals 21 10 16 110.0 31.3 191 155 23.2
Manufacturing 39 37 41 5.4 -4.9 525 537 -2.2
Bankruptcies 23 30 29 -23.3 -20.7 376 380 -1.1
Proposals 16 7 12 128.6 33.3 149 157 -5.1
Wholesale Trade 19 18 29 5.6 -34.5 249 292 -14.7
Bankruptcies 12 12 24 0.0 -50.0 185 232 -20.3
Proposals 7 6 5 16.7 40.0 64 60 6.7
Retail Trade 50 59 50 -15.3 0.0 618 704 -12.2
Bankruptcies 38 50 34 -24.0 11.8 467 561 -16.8
Proposals 12 9 16 33.3 -25.0 151 143 5.6
Transportation and Warehousing 19 22 30 -13.6 -36.7 281 329 -14.6
Bankruptcies 15 16 24 -6.3 -37.5 223 273 -18.3
Proposals 4 6 6 -33.3 -33.3 58 56 3.6
Information and Cultural Industries 6 6 7 0.0 -14.3 68 82 -17.1
Bankruptcies 5 6 2 -16.7 150.0 55 52 5.8
Proposals 1 0 5 -80.0 13 30 -56.7
Finance and Insurance 8 3 9 166.7 -11.1 93 110 -15.5
Bankruptcies 7 2 8 250.0 -12.5 65 92 -29.3
Proposals 1 1 1 0.0 0.0 28 18 55.6
Real Estate and Rental and Leasing 9 9 15 0.0 -40.0 120 168 -28.6
Bankruptcies 4 4 14 0.0 -71.4 81 136 -40.4
Proposals 5 5 1 0.0 400.0 39 32 21.9
Professional, Scientific and Technical Services 26 17 23 52.9 13.0 295 283 4.2
Bankruptcies 18 10 10 80.0 80.0 211 199 6.0
Proposals 8 7 13 14.3 -38.5 84 84 0.0
Management of Companies and Enterprises 7 3 8 133.3 -12.5 57 49 16.3
Bankruptcies 5 3 8 66.7 -37.5 43 43 0.0
Proposals 2 0 0 14 6 133.3
Administrative and Support, Waste Management and Remediation Services 23 11 15 109.1 53.3 225 207 8.7
Bankruptcies 16 9 12 77.8 33.3 167 168 -0.6
Proposals 7 2 3 250.0 133.3 58 39 48.7
Educational Services 5 1 1 400.0 400.0 35 40 -12.5
Bankruptcies 3 1 0 200.0 25 32 -21.9
Proposals 2 0 1 100.0 10 8 25.0
Health Care and Social Assistance 6 5 10 20.0 -40.0 62 76 -18.4
Bankruptcies 4 4 8 0.0 -50.0 43 60 -28.3
Proposals 2 1 2 100.0 0.0 19 16 18.8
Arts, Entertainment and Recreation 6 4 12 50.0 -50.0 85 89 -4.5
Bankruptcies 5 4 10 25.0 -50.0 73 78 -6.4
Proposals 1 0 2 -50.0 12 11 9.1
Accommodation and Food Services 64 64 65 0.0 -1.5 677 634 6.8
Bankruptcies 41 41 47 0.0 -12.8 497 473 5.1
Proposals 23 23 18 0.0 27.8 180 161 11.8
Other Services (except Public Administration) 23 24 24 -4.2 -4.2 278 311 -10.6
Bankruptcies 20 19 20 5.3 0.0 230 255 -9.8
Proposals 3 5 4 -40.0 -25.0 48 56 -14.3
Public Administration 0 1 0 -100.0 7 4 75.0
Bankruptcies 0 0 0 5 2 150.0
Proposals 0 1 0 -100.0 2 2 0.0
Total 403 363 427 11.0 -5.6 4,639 4,919 -5.7
Bankruptcies 284 276 315 2.9 -9.8 3,483 3,819 -8.8
Proposals 119 87 112 36.8 6.3 1,156 1,100 5.1
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