Archived — Insolvency Statistics in Canada—December 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
Dec. 2012 Nov. 2012 Dec. 2011 Nov. 2012 to Dec. 2012 Dec. 2011 to Dec. 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 97 124 111 -21.8 -12.6 1,769 2,107 -16.0
Bankruptcies 92 112 102 -17.9 -9.8 1,626 1,981 -17.9
Proposals 5 12 9 -58.3 -44.4 143 126 13.5
Prince Edward Island 44 54 42 -18.5 4.8 635 637 -0.3
Bankruptcies 38 41 27 -7.3 40.7 485 535 -9.3
Proposals 6 13 15 -53.8 -60.0 150 102 47.1
Nova Scotia 252 397 348 -36.5 -27.6 4,388 4,669 -6.0
Bankruptcies 182 277 280 -34.3 -35.0 3,307 3,682 -10.2
Proposals 70 120 68 -41.7 2.9 1,081 987 9.5
New Brunswick 242 315 272 -23.2 -11.0 3,913 3,560 9.9
Bankruptcies 189 248 217 -23.8 -12.9 2,959 2,891 2.4
Proposals 53 67 55 -20.9 -3.6 954 669 42.6
Quebec 2,364 3,505 2,726 -32.6 -13.3 37,944 37,895 0.1
Bankruptcies 1,583 2,334 1,924 -32.2 -17.7 25,887 27,196 -4.8
Proposals 781 1,171 802 -33.3 -2.6 12,057 10,699 12.7
Ontario 3,315 4,183 4,099 -20.8 -19.1 48,742 52,074 -6.4
Bankruptcies 1,713 2,078 2,203 -17.6 -22.2 24,278 26,805 -9.4
Proposals 1,602 2,105 1,896 -23.9 -15.5 24,464 25,269 -3.2
Manitoba 128 184 161 -30.4 -20.5 1,926 2,229 -13.6
Bankruptcies 91 130 119 -30.0 -23.5 1,312 1,574 -16.6
Proposals 37 54 42 -31.5 -11.9 614 655 -6.3
Saskatchewan 119 128 128 -7.0 -7.0 1,860 2,212 -15.9
Bankruptcies 69 75 92 -8.0 -25.0 1,080 1,376 -21.5
Proposals 50 53 36 -5.7 38.9 780 836 -6.7
Alberta 615 765 739 -19.6 -16.8 9,514 10,381 -8.4
Bankruptcies 362 435 501 -16.8 -27.7 5,989 7,293 -17.9
Proposals 253 330 238 -23.3 6.3 3,525 3,088 14.2
British Columbia 813 949 910 -14.3 -10.7 11,964 11,919 0.4
Bankruptcies 531 606 589 -12.4 -9.8 7,754 8,232 -5.8
Proposals 282 343 321 -17.8 -12.1 4,210 3,687 14.2
Northwest Territories 5 2 6 150.0 -16.7 54 47 14.9
Bankruptcies 3 2 6 50.0 -50.0 29 33 -12.1
Proposals 2 0 0 -- -- 25 14 78.6
Yukon 1 6 4 -83.3 -75.0 38 37 2.7
Bankruptcies 1 5 3 -80.0 -66.7 24 32 -25.0
Proposals 0 1 1 -100.0 -100.0 14 5 180.0
Nunavut 0 0 0 -- -- 4 7 -42.9
Bankruptcies 0 0 0 -- -- 1 6 -83.3
Proposals 0 0 0 -- -- 3 1 200.0
Canada 7,995 10,612 9,546 -24.7 -16.2 122,751 127,774 -3.9
Bankruptcies 4,854 6,343 6,063 -23.5 -19.9 74,731 81,636 -8.5
Proposals 3,141 4,269 3,483 -26.4 -9.8 48,020 46,138 4.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Dec. 2012 Nov. 2012 Dec. 2011 Nov. 2012 to Dec. 2012 Dec. 2011 to Dec. 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 97 123 111 -21.1 -12.6 1,750 2,081 -15.9
Bankruptcies 92 111 102 -17.1 -9.8 1,611 1,957 -17.7
Proposals 5 12 9 -58.3 -44.4 139 124 12.1
Prince Edward Island 43 54 42 -20.4 2.4 618 620 -0.3
Bankruptcies 37 41 27 -9.8 37.0 472 520 -9.2
Proposals 6 13 15 -53.8 -60.0 146 100 46.0
Nova Scotia 247 382 340 -35.3 -27.4 4,282 4,556 -6.0
Bankruptcies 177 267 272 -33.7 -34.9 3,221 3,587 -10.2
Proposals 70 115 68 -39.1 2.9 1,061 969 9.5
New Brunswick 238 312 271 -23.7 -12.2 3,843 3,500 9.8
Bankruptcies 185 245 217 -24.5 -14.7 2,906 2,848 2.0
Proposals 53 67 54 -20.9 -1.9 937 652 43.7
Quebec 2,198 3,330 2,576 -34.0 -14.7 35,925 35,768 0.4
Bankruptcies 1,451 2,204 1,809 -34.2 -19.8 24,399 25,627 -4.8
Proposals 747 1,126 767 -33.7 -2.6 11,526 10,141 13.7
Ontario 3,223 4,061 3,948 -20.6 -18.4 47,381 50,460 -6.1
Bankruptcies 1,638 1,983 2,083 -17.4 -21.4 23,236 25,529 -9.0
Proposals 1,585 2,078 1,865 -23.7 -15.0 24,145 24,931 -3.2
Manitoba 124 179 153 -30.7 -19.0 1,877 2,155 -12.9
Bankruptcies 87 126 112 -31.0 -22.3 1,276 1,514 -15.7
Proposals 37 53 41 -30.2 -9.8 601 641 -6.2
Saskatchewan 115 121 122 -5.0 -5.7 1,731 2,055 -15.8
Bankruptcies 69 69 89 0.0 -22.5 1,001 1,272 -21.3
Proposals 46 52 33 -11.5 39.4 730 783 -6.8
Alberta 591 738 714 -19.9 -17.2 9,202 10,040 -8.3
Bankruptcies 346 420 483 -17.6 -28.4 5,759 7,029 -18.1
Proposals 245 318 231 -23.0 6.1 3,443 3,011 14.3
British Columbia 792 924 884 -14.3 -10.4 11,696 11,676 0.2
Bankruptcies 513 590 569 -13.1 -9.8 7,562 8,040 -5.9
Proposals 279 334 315 -16.5 -11.4 4,134 3,636 13.7
Northwest Territories 5 2 6 150.0 -16.7 53 45 17.8
Bankruptcies 3 2 6 50.0 -50.0 29 33 -12.1
Proposals 2 0 0 -- -- 24 12 100.0
Yukon 1 6 4 -83.3 -75.0 37 36 2.8
Bankruptcies 1 5 3 -80.0 -66.7 23 31 -25.8
Proposals 0 1 1 -100.0 -100.0 14 5 180.0
Nunavut 0 0 0 -- -- 3 7 -57.1
Bankruptcies 0 0 0 -- -- 0 6 -100.0
Proposals 0 0 0 -- -- 3 1 200.0
Canada 7,674 10,232 9,171 -25.0 -16.3 118,398 122,999 -3.7
Bankruptcies 4,599 6,063 5,772 -24.1 -20.3 71,495 77,993 -8.3
Proposals 3,075 4,169 3,399 -26.2 -9.5 46,903 45,006 4.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Dec. 2012 Nov. 2012 Dec. 2011 Nov. 2012 to Dec. 2012 Dec. 2011 to Dec. 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 0 1 0 -100.0 -- 19 26 -26.9
Bankruptcies 0 1 0 -100.0 -- 15 24 -37.5
Proposals 0 0 0 -- -- 4 2 100.0
Prince Edward Island 1 0 0 -- -- 17 17 0.0
Bankruptcies 1 0 0 -- -- 13 15 -13.3
Proposals 0 0 0 -- -- 4 2 100.0
Nova Scotia 5 15 8 -66.7 -37.5 106 113 -6.2
Bankruptcies 5 10 8 -50.0 -37.5 86 95 -9.5
Proposals 0 5 0 -100.0 -- 20 18 11.1
New Brunswick 4 3 1 33.3 300.0 70 60 16.7
Bankruptcies 4 3 0 33.3 -- 53 43 23.3
Proposals 0 0 1 -- -100.0 17 17 0.0
Quebec 166 175 150 -5.1 10.7 2,019 2,127 -5.1
Bankruptcies 132 130 115 1.5 14.8 1,488 1,569 -5.2
Proposals 34 45 35 -24.4 -2.9 531 558 -4.8
Ontario 92 122 151 -24.6 -39.1 1,361 1,614 -15.7
Bankruptcies 75 95 120 -21.1 -37.5 1,042 1,276 -18.3
Proposals 17 27 31 -37.0 -45.2 319 338 -5.6
Manitoba 4 5 8 -20.0 -50.0 49 74 -33.8
Bankruptcies 4 4 7 0.0 -42.9 36 60 -40.0
Proposals 0 1 1 -100.0 -100.0 13 14 -7.1
Saskatchewan 4 7 6 -42.9 -33.3 129 157 -17.8
Bankruptcies 0 6 3 -100.0 -100.0 79 104 -24.0
Proposals 4 1 3 300.0 33.3 50 53 -5.7
Alberta 24 27 25 -11.1 -4.0 312 341 -8.5
Bankruptcies 16 15 18 6.7 -11.1 230 264 -12.9
Proposals 8 12 7 -33.3 14.3 82 77 6.5
British Columbia 21 25 26 -16.0 -19.2 268 243 10.3
Bankruptcies 18 16 20 12.5 -10.0 192 192 0.0
Proposals 3 9 6 -66.7 -50.0 76 51 49.0
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 1 0.0
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 321 380 375 -15.5 -14.4 4,353 4,775 -8.8
Bankruptcies 255 280 291 -8.9 -12.4 3,236 3,643 -11.2
Proposals 66 100 84 -34.0 -21.4 1,117 1,132 -1.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Dec. 2012 Nov. 2012 Dec. 2011 Nov. 2012 to Dec. 2012 Dec. 2011 to Dec. 2012 12-31-2012 12-31-2011 % Change
Agriculture, Forestry, Fishing and Hunting 6 10 4 -40.0 50.0 115 134 -14.2
Bankruptcies 5 6 3 -16.7 66.7 86 91 -5.5
Proposals 1 4 1 -75.0 0.0 29 43 -32.6
Mining and Oil and Gas Extraction 7 4 1 75.0 600.0 36 26 38.5
Bankruptcies 5 2 1 150.0 400.0 27 20 35.0
Proposals 2 2 0 0.0 -- 9 6 50.0
Utilities 2 1 0 100.0 -- 20 14 42.9
Bankruptcies 0 0 0 -- -- 11 10 10.0
Proposals 2 1 0 100.0 -- 9 4 125.0
Construction 49 75 56 -34.7 -12.5 833 782 6.5
Bankruptcies 38 52 46 -26.9 -17.4 607 620 -2.1
Proposals 11 23 10 -52.2 10.0 226 162 39.5
Manufacturing 30 37 50 -18.9 -40.0 435 554 -21.5
Bankruptcies 23 30 40 -23.3 -42.5 308 393 -21.6
Proposals 7 7 10 0.0 -30.0 127 161 -21.1
Wholesale Trade 22 22 19 0.0 15.8 240 261 -8.0
Bankruptcies 15 18 14 -16.7 7.1 176 198 -11.1
Proposals 7 4 5 75.0 40.0 64 63 1.6
Retail Trade 39 43 53 -9.3 -26.4 571 648 -11.9
Bankruptcies 32 35 36 -8.6 -11.1 435 505 -13.9
Proposals 7 8 17 -12.5 -58.8 136 143 -4.9
Transportation and Warehousing 23 26 23 -11.5 0.0 259 310 -16.5
Bankruptcies 21 24 16 -12.5 31.3 213 252 -15.5
Proposals 2 2 7 0.0 -71.4 46 58 -20.7
Information and Cultural Industries 9 5 5 80.0 80.0 62 78 -20.5
Bankruptcies 8 5 5 60.0 60.0 53 53 0.0
Proposals 1 0 0 -- -- 9 25 -64.0
Finance and Insurance 7 7 10 0.0 -30.0 72 107 -32.7
Bankruptc ies 5 7 10 -28.6 -50.0 59 80 -26.3
Proposals 2 0 0 -- -- 13 27 -51.9
Real Estate and Rental and Leasing 16 8 9 100.0 77.8 114 142 -19.7
Bankruptcies 14 3 6 366.7 133.3 77 104 -26.0
Proposals 2 5 3 -60.0 -33.3 37 38 -2.6
Professional, Scientific and Technical Services 22 29 24 -24.1 -8.3 273 290 -5.9
Bankruptcies 19 21 18 -9.5 5.6 197 198 -0.5
Proposals 3 8 6 -62.5 -50.0 76 92 -17.4
Management of Companies and Enterprises 4 5 5 -20.0 -20.0 65 52 25.0
Bankruptcies 3 2 5 50.0 -40.0 51 43 18.6
Proposals 1 3 0 -66.7 -- 14 9 55.6
Administrative and Support, Waste Management and Remediation Services 15 17 20 -11.8 -25.0 202 213 -5.2
Bankruptcies 12 11 13 9.1 -7.7 146 164 -11.0
Proposals 3 6 7 -50.0 -57.1 56 49 14.3
Educational Services 2 2 3 0.0 -33.3 31 32 -3.1
Bankruptcies 2 2 3 0.0 -33.3 26 23 13.0
Proposals 0 0 0 -- -- 5 9 -44.4
Health Care and Social Assistance 4 2 5 100.0 -20.0 53 85 -37.6
Bankruptcies 3 2 2 50.0 50.0 44 63 -30.2
Proposals 1 0 3 -- -66.7 9 22 -59.1
Arts, Entertainment and Recreation 6 11 7 -45.5 -14.3 77 86 -10.5
Bankruptcies 6 8 6 -25.0 0.0 62 74 -16.2
Proposals 0 3 1 -100.0 -100.0 15 12 25.0
Accommodation and Food Services 37 48 58 -22.9 -36.2 624 658 -5.2
Bankruptcies 27 34 45 -20.6 -40.0 440 510 -13.7
Proposals 10 14 13 -28.6 -23.1 184 148 24.3
Other Services (except Public Administration) 21 28 23 -25.0 -8.7 268 297 -9.8
Bankruptcies 17 18 22 -5.6 -22.7 216 238 -9.2
Proposals 4 10 1 -60.0 300.0 52 59 -11.9
Public Administration 0 0 0 -- -- 3 5 -40.0
Bankruptcies 0 0 0 -- -- 2 3 -33.3
Proposals 0 0 0 -- -- 1 2 -50.0
Total 321 380 375 -15.5 -14.4 4,353 4,775 -8.8
Bankruptcies 255 280 291 -8.9 -12.4 3,236 3,643 -11.2
Proposals 66 100 84 -34.0 -21.4 1,117 1,132 -1.3
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