Archived — Insolvency Statistics in Canada—September 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
Sept. 2012 Aug. 2012 Sept. 2011 Aug. 2012 to Sept. 2012 Sept. 2011 to Sept. 2012 09-30-2012 09-30-2011 % Change
Newfoundland and Labrador 122 166 163 -26.5 -25.2 1,827 2,265 -19.3
Bankruptcies 113 155 156 -27.1 -27.6 1,681 2,137 -21.3
Proposals 9 11 7 -18.2 28.6 146 128 14.1
Prince Edward Island 45 45 50 0.0 -10.0 603 655 -7.9
Bankruptcies 32 37 36 -13.5 -11.1 457 569 -19.7
Proposals 13 8 14 62.5 -7.1 146 86 69.8
Nova Scotia 314 364 419 -13.7 -25.1 4,421 4,899 -9.8
Bankruptcies 242 255 314 -5.1 -22.9 3,379 3,903 -13.4
Proposals 72 109 105 -33.9 -31.4 1,042 996 4.6
New Brunswick 309 360 313 -14.2 -1.3 3,928 3,535 11.1
Bankruptcies 239 266 254 -10.2 -5.9 3,008 2,912 3.3
Proposals 70 94 59 -25.5 18.6 920 623 47.7
Quebec 2,959 3,090 3,198 -4.2 -7.5 37,725 38,412 -1.8
Bankruptcies 2,011 2,156 2,321 -6.7 -13.4 26,140 27,980 -6.6
Proposals 948 934 877 1.5 8.1 11,585 10,432 11.1
Ontario 3,778 3,967 4,371 -4.8 -13.6 49,918 53,671 -7.0
Bankruptcies 1,919 1,972 2,275 -2.7 -15.6 25,038 28,260 -11.4
Proposals 1,859 1,995 2,096 -6.8 -11.3 24,880 25,411 -2.1
Manitoba 173 147 187 17.7 -7.5 1,994 2,370 -15.9
Bankruptcies 124 103 122 20.4 1.6 1,365 1,709 -20.1
Proposals 49 44 65 11.4 -24.6 629 661 -4.8
Saskatchewan 147 172 188 -14.5 -21.8 1,949 2,299 -15.2
Bankruptcies 89 100 116 -11.0 -23.3 1,146 1,444 -20.6
Proposals 58 72 72 -19.4 -19.4 803 855 -6.1
Alberta 686 753 799 -8.9 -14.1 9,741 10,623 -8.3
Bankruptcies 442 464 548 -4.7 -19.3 6,327 7,624 -17.0
Proposals 244 289 251 -15.6 -2.8 3,414 2,999 13.8
British Columbia 876 1,008 1,018 -13.1 -13.9 12,054 12,345 -2.4
Bankruptcies 588 627 663 -6.2 -11.3 7,810 8,879 -12.0
Proposals 288 381 355 -24.4 -18.9 4,244 3,466 22.4
Northwest Territories 2 3 3 -33.3 -33.3 44 47 -6.4
Bankruptcies 0 1 2 -100.0 -100.0 26 32 -18.8
Proposals 2 2 1 0.0 100.0 18 15 20.0
Yukon 5 3 3 66.7 66.7 30 46 -34.8
Bankruptcies 2 1 3 100.0 -33.3 20 40 -50.0
Proposals 3 2 0 50.0 -- 10 6 66.7
Nunavut 0 0 0 -- -- 3 10 -70.0
Bankruptcies 0 0 0 -- -- 1 9 -88.9
Proposals 0 0 0 -- -- 2 1 100.0
Canada 9,416 10,078 10,712 -6.6 -12.1 124,237 131,177 -5.3
Bankruptcies 5,801 6,137 6,810 -5.5 -14.8 76,398 85,498 -10.6
Proposals 3,615 3,941 3,902 -8.3 -7.4 47,839 45,679 4.7
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Sept. 2012 Aug. 2012 Sept. 2011 Aug. 2012 to Sept. 2012 Sept. 2011 to Sept. 2012 09-30-2012 09-30-2011 % Change
Newfoundland and Labrador 117 165 160 -29.1 -26.9 1,807 2,235 -19.1
Bankruptcies 111 154 153 -27.9 -27.5 1,667 2,109 -21.0
Proposals 6 11 7 -45.5 -14.3 140 126 11.1
Prince Edward Island 44 44 48 0.0 -8.3 581 635 -8.5
Bankruptcies 31 36 34 -13.9 -8.8 439 555 -20.9
Proposals 13 8 14 62.5 -7.1 142 80 77.5
Nova Scotia 308 357 414 -13.7 -25.6 4,328 4,763 -9.1
Bankruptcies 237 251 309 -5.6 -23.3 3,302 3,786 -12.8
Proposals 71 106 105 -33.0 -32.4 1,026 977 5.0
New Brunswick 304 354 301 -14.1 1.0 3,869 3,463 11.7
Bankruptcies 237 263 244 -9.9 -2.9 2,965 2,858 3.7
Proposals 67 91 57 -26.4 17.5 904 605 49.4
Quebec 2,769 2,942 3,014 -5.9 -8.1 35,646 36,317 -1.8
Bankruptcies 1,875 2,044 2,198 -8.3 -14.7 24,607 26,411 -6.8
Proposals 894 898 816 -0.4 9.6 11,039 9,906 11.4
Ontario 3,672 3,857 4,249 -4.8 -13.6 48,480 52,035 -6.8
Bankruptcies 1,840 1,888 2,176 -2.5 -15.4 23,945 26,952 -11.2
Proposals 1,832 1,969 2,073 -7.0 -11.6 24,535 25,083 -2.2
Manitoba 171 145 181 17.9 -5.5 1,932 2,306 -16.2
Bankruptcies 122 101 116 20.8 5.2 1,317 1,656 -20.5
Proposals 49 44 65 11.4 -24.6 615 650 -5.4
Saskatchewan 139 156 171 -10.9 -18.7 1,813 2,137 -15.2
Bankruptcies 85 90 105 -5.6 -19.0 1,060 1,334 -20.5
Proposals 54 66 66 -18.2 -18.2 753 803 -6.2
Alberta 662 739 767 -10.4 -13.7 9,416 10,266 -8.3
Bankruptcies 421 454 525 -7.3 -19.8 6,079 7,340 -17.2
Proposals 241 285 242 -15.4 -0.4 3,337 2,926 14.0
British Columbia 862 981 996 -12.1 -13.5 11,794 12,104 -2.6
Bankruptcies 577 610 645 -5.4 -10.5 7,612 8,688 -12.4
Proposals 285 371 351 -23.2 -18.8 4,182 3,416 22.4
Northwest Territories 2 3 3 -33.3 -33.3 43 45 -4.4
Bankruptcies 0 1 2 -100.0 -100.0 26 32 -18.8
Proposals 2 2 1 0.0 100.0 17 13 30.8
Yukon 5 3 3 66.7 66.7 29 44 -34.1
Bankruptcies 2 1 3 100.0 -33.3 19 39 -51.3
Proposals 3 2 0 50.0 -- 10 5 100.0
Nunavut 0 0 0 -- -- 2 10 -80.0
Bankruptcies 0 0 0 -- -- 0 9 -100.0
Proposals 0 0 0 -- -- 2 1 100.0
Canada 9,055 9,746 10,307 -7.1 -12.1 119,740 126,360 -5.2
Bankruptcies 5,538 5,893 6,510 -6.0 -14.9 73,038 81,769 -10.7
Proposals 3,517 3,853 3,797 -8.7 -7.4 46,702 44,591 4.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Sept. 2012 Aug. 2012 Sept. 2011 Aug. 2012 to Sept. 2012 Sept. 2011 to Sept. 2012 09-30-2012 09-30-2011 % Change
Newfoundland and Labrador 5 1 3 400.0 66.7 20 30 -33.3
Bankruptcies 2 1 3 100.0 -33.3 14 28 -50.0
Proposals 3 0 0 -- -- 6 2 200.0
Prince Edward Island 1 1 2 0.0 -50.0 22 20 10.0
Bankruptcies 1 1 2 0.0 -50.0 18 14 28.6
Proposals 0 0 0 -- -- 4 6 -33.3
Nova Scotia 6 7 5 -14.3 20.0 93 136 -31.6
Bankruptcies 5 4 5 25.0 0.0 77 117 -34.2
Proposals 1 3 0 -66.7 -- 16 19 -15.8
New Brunswick 5 6 12 -16.7 -58.3 59 72 -18.1
Bankruptcies 2 3 10 -33.3 -80.0 43 54 -20.4
Proposals 3 3 2 0.0 50.0 16 18 -11.1
Quebec 190 148 184 28.4 3.3 2,079 2,095 -0.8
Bankruptcies 136 112 123 21.4 10.6 1,533 1,569 -2.3
Proposals 54 36 61 50.0 -11.5 546 526 3.8
Ontario 106 110 122 -3.6 -13.1 1,438 1,636 -12.1
Bankruptcies 79 84 99 -6.0 -20.2 1,093 1,308 -16.4
Proposals 27 26 23 3.8 17.4 345 328 5.2
Manitoba 2 2 6 0.0 -66.7 62 64 -3.1
Bankruptcies 2 2 6 0.0 -66.7 48 53 -9.4
Proposals 0 0 0 -- -- 14 11 27.3
Saskatchewan 8 16 17 -50.0 -52.9 136 162 -16.0
Bankruptcies 4 10 11 -60.0 -63.6 86 110 -21.8
Proposals 4 6 6 -33.3 -33.3 50 52 -3.8
Alberta 24 14 32 71.4 -25.0 325 357 -9.0
Bankruptcies 21 10 23 110.0 -8.7 248 284 -12.7
Proposals 3 4 9 -25.0 -66.7 77 73 5.5
British Columbia 14 27 22 -48.1 -36.4 260 241 7.9
Bankruptcies 11 17 18 -35.3 -38.9 198 191 3.7
Proposals 3 10 4 -70.0 -25.0 62 50 24.0
Northwest Territories 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 2 -50.0
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 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 361 332 405 8.7 -10.9 4,497 4,817 -6.6
Bankruptcies 263 244 300 7.8 -12.3 3,360 3,729 -9.9
Proposals 98 88 105 11.4 -6.7 1,137 1,088 4.5
0.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Sept. 2012 Aug. 2012 Sept. 2011 Aug. 2012 to Sept. 2012 Sept. 2011 to Sept. 2012 09-30-2012 09-30-2011 % Change
Agriculture, Forestry, Fishing and Hunting 9 12 15 -25.0 -40.0 118 142 -16.9
Bankruptcies 5 8 11 -37.5 -54.5 89 94 -5.3
Proposals 4 4 4 0.0 0.0 29 48 -39.6
Mining and Oil and Gas Extraction 5 3 3 66.7 66.7 29 32 -9.4
Bankruptcies 4 2 1 100.0 300.0 23 23 0.0
Proposals 1 1 2 0.0 -50.0 6 9 -33.3
Utilities 0 1 0 -100.0 -- 18 11 63.6
Bankruptcies 0 0 0 -- -- 12 7 71.4
Proposals 0 1 0 -100.0 -- 6 4 50.0
Construction 54 61 72 -11.5 -25.0 812 811 0.1
Bankruptcies 42 41 53 2.4 -20.8 605 649 -6.8
Proposals 12 20 19 -40.0 -36.8 207 162 27.8
Manufacturing 35 32 34 9.4 2.9 480 524 -8.4
Bankruptcies 25 17 23 47.1 8.7 342 366 -6.6
Proposals 10 15 11 -33.3 -9.1 138 158 -12.7
Wholesale Trade 18 18 16 0.0 12.5 244 273 -10.6
Bankruptcies 13 14 12 -7.1 8.3 182 214 -15.0
Proposals 5 4 4 25.0 25.0 62 59 5.1
Retail Trade 56 50 58 12.0 -3.4 611 667 -8.4
Bankruptcies 42 43 46 -2.3 -8.7 457 535 -14.6
Proposals 14 7 12 100.0 16.7 154 132 16.7
Transportation and Warehousing 20 15 28 33.3 -28.6 240 333 -27.9
Bankruptcies 17 11 22 54.5 -22.7 189 274 -31.0
Proposals 3 4 6 -25.0 -50.0 51 59 -13.6
Information and Cultural Industries 6 2 7 200.0 -14.3 62 82 -24.4
Bankruptcies 4 1 4 300.0 0.0 53 52 1.9
Proposals 2 1 3 100.0 -33.3 9 30 -70.0
Finance and Insurance 5 5 7 0.0 -28.6 79 115 -31.3
Bankruptcies 3 3 4 -25.0 62 88 -29.5
Proposals 2 2 3 0.0 -33.3 17 27 -37.0
Real Estate and Rental and Leasing 11 7 5 57.1 120.0 116 154 -24.7
Bankruptcies 6 6 5 0.0 20.0 76 123 -38.2
Proposals 5 1 0 400.0 -- 40 31 29.0
Professional, Scientific and Technical Services 20 18 26 11.1 -23.1 292 279 4.7
Bankruptcies 16 12 16 33.3 0.0 209 195 7.2
Proposals 4 6 10 -33.3 -60.0 83 84 -1.2
Management of Companies and Enterprises 7 3 5 133.3 40.0 60 53 13.2
Bankruptcies 7 3 3 133.3 133.3 52 44 18.2
Proposals 0 0 2 -- -100.0 8 9 -11.1
Administrative and Support, Waste Management and Remediation Services 19 11 30 72.7 -36.7 223 210 6.2
Bankruptcies 15 8 22 87.5 -31.8 161 174 -7.5
Proposals 4 3 8 33.3 -50.0 62 36 72.2
Educational Services 2 0 2 -- 0.0 32 33 -3.0
Bankruptcies 2 0 1 -- 100.0 28 23 21.7
Proposals 0 0 1 -- -100.0 4 10 -60.0
Health Care and Social Assistance 6 7 7 -14.3 -14.3 60 79 -24.1
Bankruptcies 5 6 7 -16.7 -28.6 44 60 -26.7
Proposals 1 1 0 0.0 -- 16 19 -15.8
Arts, Entertainment and Recreation 6 3 10 100.0 -40.0 72 89 -19.1
Bankruptcies 4 3 8 33.3 -50.0 61 77 -20.8
Proposals 2 0 2 -- 0.0 11 12 -8.3
Accommodation and Food Services 64 55 59 16.4 8.5 678 621 9.2
Bankruptcies 39 40 45 -2.5 -13.3 485 485 0.0
Proposals 25 15 14 66.7 78.6 193 136 41.9
Other Services (except Public Administration) 18 29 20 -37.9 -10.0 267 303 -11.9
Bankruptcies 14 26 17 -46.2 -17.6 227 243 -6.6
Proposals 4 3 3 33.3 33.3 40 60 -33.3
Public Administration 0 0 1 -- -100.0 4 5 -20.0
Bankruptcies 0 0 0 -- -- 3 2 50.0
Proposals 0 0 1 -- -100.0 1 3 -66.7
Total 361 332 405 8.7 -10.9 4,497 4,817 -6.6
Bankruptcies 263 244 300 7.8 -12.3 3,360 3,729 -9.9
Proposals 98 88 105 11.4 -6.7 1,137 1,088 4.5
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