Archived — Insolvency Statistics in Canada—July 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
July 2012 June 2012 July 2011 June 2012 to July 2012 July 2011 to July 2012 07-31-2012 07-31-2011 % Change
Newfoundland and Labrador 140 161 174 -13.0 -19.5 1,888 2,281 -17.2
Bankruptcies 126 146 166 -13.7 -24.1 1,739 2,147 -19.0
Proposals 14 15 8 -6.7 75.0 149 134 11.2
Prince Edward Island 61 55 47 10.9 29.8 620 657 -5.6
Bankruptcies 45 40 34 12.5 32.4 475 575 -17.4
Proposals 16 15 13 6.7 23.1 145 82 76.8
Nova Scotia 354 379 339 -6.6 4.4 4,531 4,998 -9.3
Bankruptcies 266 284 262 -6.3 1.5 3,491 4,017 -13.1
Proposals 88 95 77 -7.4 14.3 1,040 981 6.0
New Brunswick 312 349 298 -10.6 4.7 3,860 3,624 6.5
Bankruptcies 213 271 235 -21.4 -9.4 2,976 3,026 -1.7
Proposals 99 78 63 26.9 57.1 884 598 47.8
Quebec 2,787 2,941 2,480 -5.2 12.4 38,035 38,521 -1.3
Bankruptcies 1,920 2,039 1,794 -5.8 7.0 26,576 28,123 -5.5
Proposals 867 902 686 -3.9 26.4 11,459 10,398 10.2
Ontario 3,816 4,174 3,661 -8.6 4.2 50,758 54,555 -7.0
Bankruptcies 1,955 2,094 1,924 -6.6 1.6 25,570 29,342 -12.9
Proposals 1,861 2,080 1,737 -10.5 7.1 25,188 25,213 -0.1
Manitoba 144 163 161 -11.7 -10.6 2,041 2,446 -16.6
Bankruptcies 103 107 106 -3.7 -2.8 1,400 1,765 -20.7
Proposals 41 56 55 -26.8 -25.5 641 681 -5.9
Saskatchewan 146 168 188 -13.1 -22.3 1,991 2,335 -14.7
Bankruptcies 89 100 118 -11.0 -24.6 1,192 1,482 -19.6
Proposals 57 68 70 -16.2 -18.6 799 853 -6.3
Alberta 804 840 809 -4.3 -0.6 9,983 10,815 -7.7
Bankruptcies 505 506 549 -0.2 -8.0 6,590 7,866 -16.2
Proposals 299 334 260 -10.5 15.0 3,393 2,949 15.1
British Columbia 991 1,013 938 -2.2 5.7 12,215 12,325 -0.9
Bankruptcies 645 652 650 -1.1 -0.8 7,977 9,017 -11.5
Proposals 346 361 288 -4.2 20.1 4,238 3,308 28.1
Northwest Territories 4 3 3 33.3 33.3 48 45 6.7
Bankruptcies 2 2 3 0.0 -33.3 31 28 10.7
Proposals 2 1 0 100.0 -- 17 17 0.0
Yukon 4 3 8 33.3 -50.0 26 48 -45.8
Bankruptcies 2 2 6 0.0 -66.7 21 42 -50.0
Proposals 2 1 2 100.0 0.0 5 6 -16.7
Nunavut 2 0 2 -- 0.0 3 10 -70.0
Bankruptcies 1 0 1 -- 0.0 1 9 -88.9
Proposals 1 0 1 -- 0.0 2 1 100.0
Canada 9,565 10,249 9,108 -6.7 5.0 125,999 132,660 -5.0
Bankruptcies 5,872 6,243 5,848 -5.9 0.4 78,039 87,439 -10.8
Proposals 3,693 4,006 3,260 -7.8 13.3 47,960 45,221 6.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2012 June 2012 July 2011 June 2012 to July 2012 July 2011 to July 2012 07-31-2012 07-31-2011 % Change
Newfoundland and Labrador 138 161 173 -14.3 -20.2 1,870 2,252 -17.0
Bankruptcies 125 146 165 -14.4 -24.2 1,724 2,120 -18.7
Proposals 13 15 8 -13.3 62.5 146 132 10.6
Prince Edward Island 60 52 46 15.4 30.4 597 637 -6.3
Bankruptcies 44 38 33 15.8 33.3 456 563 -19.0
Proposals 16 14 13 14.3 23.1 141 74 90.5
Nova Scotia 345 370 334 -6.8 3.3 4,438 4,845 -8.4
Bankruptcies 259 275 258 -5.8 0.4 3,413 3,887 -12.2
Proposals 86 95 76 -9.5 13.2 1,025 958 7.0
New Brunswick 306 346 293 -11.6 4.4 3,796 3,559 6.7
Bankruptcies 209 268 233 -22.0 -10.3 2,925 2,978 -1.8
Proposals 97 78 60 24.4 61.7 871 581 49.9
Quebec 2,646 2,778 2,356 -4.8 12.3 35,961 36,465 -1.4
Bankruptcies 1,807 1,911 1,703 -5.4 6.1 25,052 26,595 -5.8
Proposals 839 867 653 -3.2 28.5 10,909 9,870 10.5
Ontario 3,720 4,063 3,560 -8.4 4.5 49,277 52,892 -6.8
Bankruptcies 1,878 2,010 1,846 -6.6 1.7 24,428 28,020 -12.8
Proposals 1,842 2,053 1,714 -10.3 7.5 24,849 24,872 -0.1
Manitoba 140 158 157 -11.4 -10.8 1,973 2,379 -17.1
Bankruptcies 99 106 103 -6.6 -3.9 1,346 1,714 -21.5
Proposals 41 52 54 -21.2 -24.1 627 665 -5.7
Saskatchewan 137 160 178 -14.4 -23.0 1,846 2,184 -15.5
Bankruptcies 87 94 110 -7.4 -20.9 1,095 1,380 -20.7
Proposals 50 66 68 -24.2 -26.5 751 804 -6.6
Alberta 785 809 790 -3.0 -0.6 9,636 10,443 -7.7
Bankruptcies 489 484 534 1.0 -8.4 6,324 7,567 -16.4
Proposals 296 325 256 -8.9 15.6 3,312 2,876 15.2
British Columbia 963 1,004 916 -4.1 5.1 11,956 12,080 -1.0
Bankruptcies 624 644 635 -3.1 -1.7 7,775 8,822 -11.9
Proposals 339 360 281 -5.8 20.6 4,181 3,258 28.3
Northwest Territories 4 3 3 33.3 33.3 47 42 11.9
Bankruptcies 2 2 3 0.0 -33.3 31 28 10.7
Proposals 2 1 0 100.0 -- 16 14 14.3
Yukon 4 3 7 33.3 -42.9 25 46 -45.7
Bankruptcies 2 2 5 0.0 -60.0 20 41 -51.2
Proposals 2 1 2 100.0 0.0 5 5 0.0
Nunavut 1 0 2 -- -50.0 2 10 -80.0
Bankruptcies 0 0 1 -- -100.0 0 9 -100.0
Proposals 1 0 1 -- 0.0 2 1 100.0
Canada 9,249 9,907 8,815 -6.6 4.9 121,424 127,834 -5.0
Bankruptcies 5,625 5,980 5,629 -5.9 -0.1 74,589 83,724 -10.9
Proposals 3,624 3,927 3,186 -7.7 13.7 46,835 44,110 6.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2012 June 2012 July 2011 June 2012 to July 2012 July 2011 to July 2012 07-31-2012 07-31-2011< % Change
Newfoundland and Labrador 2 0 1 -- 100.0 18 29 -37.9
Bankruptcies 1 0 1 -- 0.0 15 27 -44.4
Proposals 1 0 0 -- -- 3 2 50.0
Prince Edward Island 1 3 1 -66.7 0.0 23 20 15.0
Bankruptcies 1 2 1 -50.0 0.0 19 12 58.3
Proposals 0 1 0 -100.0 -- 4 8 -50.0
Nova Scotia 9 9 5 0.0 80.0 93 153 -39.2
Bankruptcies 7 9 4 -22.2 75.0 78 130 -40.0
Proposals 2 0 1 -- 100.0 15 23 -34.8
New Brunswick 6 3 5 100.0 20.0 64 65 -1.5
Bankruptcies 4 3 2 33.3 100.0 51 48 6.3
Proposals 2 0 3 -- -33.3 13 17 -23.5
Quebec 141 163 124 -13.5 13.7 2,074 2,056 0.9
Bankruptcies 113 128 91 -11.7 24.2 1,524 1,528 -0.3
Proposals 28 35 33 -20.0 -15.2 550 528 4.2
Ontario 96 111 101 -13.5 -5.0 1,481 1,663 -10.9
Bankruptcies 77 84 78 -8.3 -1.3 1,142 1,322 -13.6
Proposals 19 27 23 -29.6 -17.4 339 341 -0.6
Manitoba 4 5 4 -20.0 0.0 68 67 1.5
Bankruptcies 4 1 3 300.0 33.3 54 51 5.9
Proposals 0 4 1 -100.0 -100.0 14 16 -12.5
Saskatchewan 9 8 10 12.5 -10.0 145 151 -4.0
Bankruptcies 2 6 8 -66.7 -75.0 97 102 -4.9
Proposals 7 2 2 250.0 250.0 48 49 -2.0
Alberta 19 31 19 -38.7 0.0 347 372 -6.7
Bankruptcies 16 22 15 -27.3 6.7 266 299 -11.0
Proposals 3 9 4 -66.7 -25.0 81 73 11.0
British Columbia 28 9 22 211.1 27.3 259 245 5.7
Bankruptcies 21 8 15 162.5 40.0 202 195 3.6
Proposals 7 1 7 600.0 0.0 57 50 14.0
Northwest Territories 0 0 0 -- -- 1 3 -66.7
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 3 -66.7
Yukon 0 0 1 -- -100.0 1 2 -50.0
Bankruptcies 0 0 1 -- -100.0 1 1 0.0
Proposals 0 0 0 -- -- 0 1 -100.0
Nunavut 1 0 0 -- -- 1 0 --
Bankruptcies 1 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 316 342 293 -7.6 7.8 4,575 4,826 -5.2
Bankruptcies 247 263 219 -6.1 12.8 3,450 3,715 -7.1
Proposals 69 79 74 -12.7 -6.8 1,125 1,111 1.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Economic Sector Volume % Change 12-Month Period Ending
July 2012 June 2012 July 2011 June 2012 to July 2012 July 2011 to July 2012 07-31-2012 07-31-2011 % Change
Agriculture, Forestry, Fishing and Hunting 5 13 12 -61.5 -58.3 126 128 -1.6
Bankruptcies 4 10 9 -60.0 -55.6 98 83 18.1
Proposals 1 3 3 -66.7 -66.7 28 45 -37.8
Mining and Oil and Gas Extraction 6 3 1 100.0 500.0 25 38 -34.2
Bankruptcies 6 2 1 200.0 500.0 19 25 -24.0
Proposals 0 1 0 -100.0 -- 6 13 -53.8
Utilities 4 2 1 100.0 300.0 19 12 58.3
Bankruptcies 1 2 1 -50.0 0.0 13 9 44.4
Proposals 3 0 0 -- -- 6 3 100.0
Construction 66 78 41 -15.4 61.0 822 809 1.6
Bankruptcies 50 56 36 -10.7 38.9 621 650 -4.5
Proposals 16 22 5 -27.3 220.0 201 159 26.4
Manufacturing 34 25 51 36.0 -33.3 488 544 -10.3
Bankruptcies 26 17 37 52.9 -29.7 353 375 -5.9
Proposals 8 8 14 0.0 -42.9 135 169 -20.1
Wholesale Trade 14 24 19 -41.7 -26.3 246 282 -12.8
Bankruptcies 12 18 14 -33.3 -14.3 186 221 -15.8
Proposals 2 6 5 -66.7 -60.0 60 61 -1.6
Retail Trade 29 47 47 -38.3 -38.3 613 683 -10.2
Bankruptcies 21 34 32 -38.2 -34.4 463 533 -13.1
Proposals 8 13 15 -38.5 -46.7 150 150 0.0
Transportation and Warehousing 15 24 23 -37.5 -34.8 263 333 -21.0
Bankruptcies 14 20 19 -30.0 -26.3 208 276 -24.6
Proposals 1 4 4 -75.0 -75.0 55 57 -3.5
Information and Cultural Industries 5 6 5 -16.7 0.0 66< /td> 81 -18.5
Bankruptcies 3 5 3 -40.0 0.0 53 51 3.9
Proposals 2 1 2 100.0 0.0 13 30 -56.7
Finance and Insurance 7 4 3 75.0 133.3 87 110 -20.9
Bankruptcies 7 4 1 75.0 600.0 68 85 -20.0
Proposals 0 0 2 -- -100.0 19 25 -24.0
Real Estate and Rental and Leasing 9 3 7 200.0 28.6 115 153 -24.8
Bankruptcies 7 3 6 133.3 16.7 77 123 -37.4
Proposals 2 0 1 -- 100.0 38 30 26.7
Professional, Scientific and Technical Services 21 20 13 5.0 61.5 295 275 7.3
Bankruptcies 14 15 10 -6.7 40.0 209 195 7.2
Proposals 7 5 3 40.0 133.3 86 80 7.5
Management of Companies and Enterprises 5 5 2 0.0 150.0 61 47 29.8
Bankruptcies 5 5 1 0.0 400.0 50 40 25.0
Proposals 0 0 1 -- -100.0 11 7 57.1
Administrative and Support, Waste Management and Remediation Services 15 20 6 -25.0 150.0 241 187 28.9
Bankruptcies 10 15 4 -33.3 150.0 176 155 13.5
Proposals 5 5 2 0.0 150.0 65 32 103.1
Educational Services 4 2 1 100.0 300.0 35 37 -5.4
Bankruptcies 4 2 0 100.0 -- 30 25 20.0
Proposals 0 0 1 -- -100.0 5 12 -58.3
Health Care and Social Assistance 6 3 5 100.0 20.0 58 80 -27.5
Bankruptcies 4 3 2 33.3 100.0 43 59 -27.1
Proposals 2 0 3 -- -33.3 15 21 -28.6
Arts, Entertainment and Recreation 6 6 4 0.0 50.0 79 91 -13.2
Bankruptcies 4 5 4 -20.0 0.0 66 82 -19.5
Proposals 2 1 0 100.0 -- 13 9 44.4
Accommodation and Food Services 42 46 33 -8.7 27.3 666 623 6.9
Bankruptcies 36 37 25 -2.7 44.0 491 476 3.2
Proposals 6 9 8 -33.3 -25.0 175 147 19.0
Other Services (except Public Administration) 23 11 18 109.1 27.8 264 307 -14.0
Bankruptcies 19 10 13 90.0 46.2 222 248 -10.5
Proposals 4 1 5 300.0 -20.0 42 59 -28.8
Public Administration 0 0 1 -- -100.0 6 5 20.0
Bankruptcies 0 0 1 -- -100.0 4 3 33.3
Proposals 0 0 0 -- -- 2 2 0.0
Total 316 342 293 -7.6 7.8 4,575 4,826 -5.2
Bankruptcies 247 263 219 -6.1 12.8 3,450 3,715 -7.1
Proposals 69 79 74 -12.7 -6.8 1,125 1,111 1.3
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