Insolvency Statistics in Canada—August 2012

Tables

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
  Volume % Change 12-Month Period Ending
August 2012 July 2012 August 2011 July 2012 to August 2012 August 2011 to August 2012 08-31-2012 08-31-2011 % Change
Newfoundland and Labrador 166 140 186 18.6 -10.8 1,868 2,264 -17.5
Bankruptcies 155 126 170 23.0 -8.8 1,724 2,132 -19.1
Proposals 11 14 16 -21.4 -31.3 144 132 9.1
Prince Edward Island 45 61 57 -26.2 -21.1 608 660 -7.9
Bankruptcies 37 45 51 -17.8 -27.5 461 579 -20.4
Proposals 8 16 6 -50.0 33.3 147 81 81.5
Nova Scotia 364 354 369 2.8 -1.4 4,526 4,936 -8.3
Bankruptcies 255 266 295 -4.1 -13.6 3,451 3,956 -12.8
Proposals 109 88 74 23.9 47.3 1,075 980 9.7
New Brunswick 360 312 288 15.4 25.0 3,932 3,562 10.4
Bankruptcies 266 213 219 24.9 21.5 3,023 2,949 2.5
Proposals 94 99 69 -5.1 36.2 909 613 48.3
Quebec 3,090 2,787 3,161 10.9 -2.2 37,964 38,566 -1.6
Bankruptcies 2,156 1,920 2,282 12.3 -5.5 26,450 28,109 -5.9
Proposals 934 867 879 7.7 6.3 11,514 10,457 10.1
Ontario 3,967 3,816 4,214 4.0 -5.9 50,511 54,209 -6.8
Bankruptcies 1,972 1,955 2,148 0.9 -8.2 25,394 28,882 -12.1
Proposals 1,995 1,861 2,066 7.2 -3.4 25,117 25,327 -0.8
Manitoba 147 144 180 2.1 -18.3 2,008 2,401 -16.4
Bankruptcies 103 103 140 0.0 -26.4 1,363 1,746 -21.9
Proposals 44 41 40 7.3 10.0 645 655 -1.5
Saskatchewan 172 146 173 17.8 -0.6 1,990 2,310 -13.9
Bankruptcies 100 89 119 12.4 -16.0 1,173 1,476 -20.5
Proposals 72 57 54 26.3 33.3 817 834 -2.0
Alberta 753 804 882 -6.3 -14.6 9,854 10,811 -8.9
Bankruptcies 464 505 621 -8.1 -25.3 6,433 7,842 -18.0
Proposals 289 299 261 -3.3 10.7 3,421 2,969 15.2
British Columbia 1,008 991 1,027 1.7 -1.9 12,196 12,427 -1.9
Bankruptcies 627 645 719 -2.8 -12.8 7,885 9,050 -12.9
Proposals 381 346 308 10.1 23.7 4,311 3,377 27.7
Northwest Territories 3 4 6 -25.0 -50.0 45 48 -6.3
Bankruptcies 1 2 4 -50.0 -75.0 28 31 -9.7
Proposals 2 2 2 0.0 0.0 17 17 0.0
Yukon 3 4 1 -25.0 200.0 28 49 -42.9
Bankruptcies 1 2 1 -50.0 0.0 21 43 -51.2
Proposals 2 2 0 0.0 -- 7 6 16.7
Nunavut 0 2 0 -100.0 -- 3 10 -70.0
Bankruptcies 0 1 0 -100.0 -- 1 9 -88.9
Proposals 0 1 0 -100.0 -- 2 1 100.0
Canada 10,078 9,565 10,544 5.4 -4.4 125,533 132,253 -5.1
Bankruptcies 6,137 5,872 6,769 4.5 -9.3 77,407 86,804 -10.8
Proposals 3,941 3,693 3,775 6.7 4.4 48,126 45,449 5.9
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
August 2012 July 2012 August 2011 July 2012 to August 2012 August 2011 to August 2012 08-31-2012 08-31-2011 % Change
Newfoundland and Labrador 165 138 185 19.6 -10.8 1,850 2,237 -17.3
Bankruptcies 154 125 169 23.2 -8.9 1,709 2,107 -18.9
Proposals 11 13 16 -15.4 -31.3 141 130 8.5
Prince Edward Island 44 60 56 -26.7 -21.4 585 642 -8.9
Bankruptcies 36 44 50 -18.2 -28.0 442 567 -22.0
Proposals 8 16 6 -50.0 33.3 143 75 90.7
Nova Scotia 357 345 361 3.5 -1.1 4,434 4,788 -7.4
Bankruptcies 251 259 290 -3.1 -13.4 3,374 3,830 -11.9
Proposals 106 86 71 23.3 49.3 1,060 958 10.6
New Brunswick 354 306 284 15.7 24.6 3,866 3,495 10.6
Bankruptcies 263 209 216 25.8 21.8 2,972 2,900 2.5
Proposals 91 97 68 -6.2 33.8 894 595 50.3
Quebec 2,942 2,646 3,012 11.2 -2.3 35,891 36,495 -1.7
Bankruptcies 2,044 1,807 2,166 13.1 -5.6 24,930 26,566 -6.2
Proposals 898 839 846 7.0 6.1 10,961 9,929 10.4
Ontario 3,857 3,720 4,077 3.7 -5.4 49,057 52,550 -6.6
Bankruptcies 1,888 1,878 2,035 0.5 -7.2 24,281 27,559 -11.9
Proposals 1,969 1,842 2,042 6.9 -3.6 24,776 24,991 -0.9
Manitoba 145 140 176 3.6 -17.6 1,942 2,335 -16.8
Bankruptcies 101 99 136 2.0 -25.7 1,311 1,693 -22.6
Proposals 44 41 40 7.3 10.0 631 642 -1.7
Saskatchewan 156 137 157 13.9 -0.6 1,845 2,151 -14.2
Bankruptcies 90 87 105 3.4 -14.3 1,080 1,366 -20.9
Proposals 66 50 52 32.0 26.9 765 785 -2.5
Alberta 739 785 854 -5.9 -13.5 9,521 10,446 -8.9
Bankruptcies 454 489 595 -7.2 -23.7 6,183 7,547 -18.1
Proposals 285 296 259 -3.7 10.0 3,338 2,899 15.1
British Columbia 981 963 1,009 1.9 -2.8 11,928 12,190 -2.1
Bankruptcies 610 624 705 -2.2 -13.5 7,680 8,864 -13.4
Proposals 371 339 304 9.4 22.0 4,248 3,326 27.7
Northwest Territories 3 4 6 -25.0 -50.0 44 45 -2.2
Bankruptcies 1 2 4 -50.0 -75.0 28 31 -9.7
Proposals 2 2 2 0.0 0.0 16 14 14.3
Yukon 3 4 1 -25.0 200.0 27 47 -42.6
Bankruptcies 1 2 1 -50.0 0.0 20 42 -52.4
Proposals 2 2 0 0.0 -- 7 5 40.0
Nunavut 0 1 0 -100.0 -- 2 10 -80.0
Bankruptcies 0 0 0 -- -- 0 9 -100.0
Proposals 0 1 0 -100.0 -- 2 1 100.0
Canada 9,746 9,249 10,178 5.4 -4.2 120,992 127,431 -5.1
Bankruptcies 5,893 5,625 6,472 4.8 -8.9 74,010 83,081 -10.9
Proposals 3,853 3,624 3,706 6.3 4.0 46,982 44,350 5.9
Table 3: Insolvencies Filed by Businesses
  Volume % Change 12-Month Period Ending
August 2012 July 2012 August 2011 July 2012 to August 2012 August 2011 to August 2012 08-31-2012 08-31-2011 % Change
Newfoundland and Labrador 1 2 1 -50.0 0.0 18 27 -33.3
Bankruptcies 1 1 1 0.0 0.0 15 25 -40.0
Proposals 0 1 0 -100.0 -- 3 2 50.0
Prince Edward Island 1 1 1 0.0 0.0 23 18 27.8
Bankruptcies 1 1 1 0.0 0.0 19 12 58.3
Proposals 0 0 0 -- -- 4 6 -33.3
Nova Scotia 7 9 8 -22.2 -12.5 92 148 -37.8
Bankruptcies 4 7 5 -42.9 -20.0 77 126 -38.9
Proposals 3 2 3 50.0 0.0 15 22 -31.8
New Brunswick 6 6 4 0.0 50.0 66 67 -1.5
Bankruptcies 3 4 3 -25.0 0.0 51 49 4.1
Proposals 3 2 1 50.0 200.0 15 18 -16.7
Quebec 148 141 149 5.0 -0.7 2,073 2,071 0.1
Bankruptcies 112 113 116 -0.9 -3.4 1,520 1,543 -1.5
Proposals 36 28 33 28.6 9.1 553 528 4.7
Ontario 110 96 137 14.6 -19.7 1,454 1,659 -12.4
Bankruptcies 84 77 113 9.1 -25.7 1,113 1,323 -15.9
Proposals 26 19 24 36.8 8.3 341 336 1.5
Manitoba 2 4 4 -50.0 -50.0 66 66 0.0
Bankruptcies 2 4 4 -50.0 -50.0 52 53 -1.9
Proposals 0 0 0 -- -- 14 13 7.7
Saskatchewan 16 9 16 77.8 0.0 145 159 -8.8
Bankruptcies 10 2 14 400.0 -28.6 93 110 -15.5
Proposals 6 7 2 -14.3 200.0 52 49 6.1
Alberta 14 19 28 -26.3 -50.0 333 365 -8.8
Bankruptcies 10 16 26 -37.5 -61.5 250 295 -15.3
Proposals 4 3 2 33.3 100.0 83 70 18.6
British Columbia 27 28 18 -3.6 50.0 268 237 13.1
Bankruptcies 17 21 14 -19.0 21.4 205 186 10.2
Proposals 10 7 4 42.9 150.0 63 51 23.5
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 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 1 -100.0
Nunavut 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 1 0 -100.0 -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 332 316 366 5.1 -9.3 4,541 4,822 -5.8
Bankruptcies 244 247 297 -1.2 -17.8 3,397 3,723 -8.8
Proposals 88 69 69 27.5 27.5 1,144 1,099 4.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
  Volume % Change 12-Month Period Ending
August 2012 July 2012 August 2011 July 2012 to August 2012 August 2011 to August 2012 08-31-2012 08-31-2011 % Change
Agriculture, Forestry, Fishing and Hunting 12 5 14 140.0 -14.3 124 133 -6.8
Bankruptcies 8 4 11 100.0 -27.3 95 87 9.2
Proposals 4 1 3 300.0 33.3 29 46 -37.0
Mining and Oil and Gas Extraction 3 6 1 -50.0 200.0 27 35 -22.9
Bankruptcies 2 6 1 -66.7 100.0 20 24 -16.7
Proposals 1 0 0 -- -- 7 11 -36.4
Utilities 1 4 2 -75.0 -50.0 18 13 38.5
Bankruptcies 0 1 1 -100.0 -100.0 12 9 33.3
Proposals 1 3 1 -66.7 0.0 6 4 50.0
Construction 61 66 53 -7.6 15.1 830 803 3.4
Bankruptcies 41 50 46 -18.0 -10.9 616 649 -5.1
Proposals 20 16 7 25.0 185.7 214 154 39.0
Manufacturing 32 34 41 -5.9 -22.0 479 545 -12.1
Bankruptcies 17 26 30 -34.6 -43.3 340 384 -11.5
Proposals 15 8 11 87.5 36.4 139 161 -13.7
Wholesale Trade 18 14 22 28.6 -18.2 242 281 -13.9
Bankruptcies 14 12 19 16.7 -26.3 181 222 -18.5
Proposals 4 2 3 100.0 33.3 61 59 3.4
Retail Trade 50 29 50 72.4 0.0 613 684 -10.4
Bankruptcies 43 21 45 104.8 -4.4 461 539 -14.5
Proposals 7 8 5 -12.5 40.0 152 145 4.8
Transportation and Warehousing 15 15 30 0.0 -50.0 248 333 -25.5
Bankruptcies 11 14 25 -21.4 -56.0 194 276 -29.7
Proposals 4 1 5 300.0 -20.0 54 57 -5.3
Information and Cultural Industries 2 5 5 -60.0 -60.0 63 80 -21.3
Bankruptcies 1 3 1 -66.7 0.0 53 49 8.2
Proposals 1 2 4 -50.0 -75.0 10 31 -67.7
Finance and Insurance 5 7 11 -28.6 -54.5 81 116 -30.2
Bankruptcies 3 7 8 -57.1 -62.5 63 89 -29.2
Proposals 2 0 3 -- -33.3 18 27 -33.3
Real Estate and Rental and Leasing 7 9 12 -22.2 -41.7 110 155 -29.0
Bankruptcies 6 7 8 -14.3 -25.0 75 122 -38.5
Proposals 1 2 4 -50.0 -75.0 35 33 6.1
Professional, Scientific and Technical Services 18 21 15 -14.3 20.0 298 274 8.8
Bankruptcies 12 14 12 -14.3 0.0 209 193 8.3
Proposals 6 7 3 -14.3 100.0 89 81 9.9
Management of Companies and Enterprises 3 5 6 -40.0 -50.0 58 49 18.4
Bankruptcies 3 5 5 -40.0 -40.0 48 41 17.1
Proposals 0 0 1 -- -100.0 10 8 25.0
Administrative and Support, Waste Management and Remediation Services 11 15 18 -26.7 -38.9 234 196 19.4
Bankruptcies 8 10 16 -20.0 -50.0 168 163 3.1
Proposals 3 5 2 -40.0 50.0 66 33 100.0
Educational Services 0 4 3 -100.0 -100.0 32 37 -13.5
Bankruptcies 0 4 3 -100.0 -100.0 27 26 3.8
Proposals 0 0 0 -- -- 5 11 -54.5
Health Care and Social Assistance 7 6 4 16.7 75.0 61 77 -20.8
Bankruptcies 6 4 3 50.0 100.0 46 56 -17.9
Proposals 1 2 1 -50.0 0.0 15 21 -28.6
Arts, Entertainment and Recreation 3 6 6 -50.0 -50.0 76 89 -14.6
Bankruptcies 3 4 4 -25.0 -25.0 65 78 -16.7
Proposals 0 2 2 -100.0 -100.0 11 11 0.0
Accommodation and Food Services 55 42 48 31.0 14.6 673 612 10.0
Bankruptcies 40 36 40 11.1 0.0 491 470 4.5
Proposals 15 6 8 150.0 87.5 182 142 28.2
Other Services (except Public Administration) 29 23 24 26.1 20.8 269 305 -11.8
Bankruptcies 26 19 18 36.8 44.4 230 243 -5.3
Proposals 3 4 6 -25.0 -50.0 39 62 -37.1
Public Administration 0 0 1 -- -100.0 5 4 25.0
Bankruptcies 0 0 1 -- -100.0 3 2 50.0
Proposals 0 0 0 -- -- 2 2 0.0
Total 332 316 366 5.1 -9.3 4,541 4,822 -5.8
Bankruptcies 244 247 297 -1.2 -17.8 3,397 3,723 -8.8
Proposals 88 69 69 27.5 27.5 1,144 1,099 4.1