Insolvency Statistics in Canada—February 2013

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
Province Volume % Change 12-Month Period Ending
Feb. 2013 Jan. 2013 Feb. 2012 Jan. 2013 to Feb. 2013 Feb. 2012 to Feb. 2013 02-28-2013 02-29-2012 % Change
Newfoundland and Labrador 149 143 154 4.2 -3.2 1,789 2,070 -13.6
Bankruptcies 136 134 143 1.5 -4.9 1,647 1,938 -15.0
Proposals 13 9 11 44.4 18.2 142 132 7.6
Prince Edward Island 47 50 55 -6.0 -14.5 628 645 -2.6
Bankruptcies 35 42 44 -16.7 -20.5 481 528 -8.9
Proposals 12 8 11 50.0 9.1 147 117 25.6
Nova Scotia 340 320 404 6.3 -15.8 4,346 4,605 -5.6
Bankruptcies 232 225 299 3.1 -22.4 3,223 3,621 -11.0
Proposals 108 95 105 13.7 2.9 1,123 984 14.1
New Brunswick 315 293 337 7.5 -6.5 3,884 3,732 4.1
Bankruptcies 233 226 244 3.1 -4.5 2,938 2,985 -1.6
Proposals 82 67 93 22.4 -11.8 946 747 26.6
Quebec 3,460 3,320 3,389 4.2 2.1 38,421 37,879 1.4
Bankruptcies 2,209 2,155 2,328 2.5 -5.1 25,883 27,048 -4.3
Proposals 1,251 1,165 1,061 7.4 17.9 12,538 10,831 15.8
Ontario 3,406 3,604 4,254 -5.5 -19.9 47,884 52,099 -8.1
Bankruptcies 1,621 1,691 2,028 -4.1 -20.1 23,828 26,698 -10.7
Proposals 1,785 1,913 2,226 -6.7 -19.8 24,056 25,401 -5.3
Manitoba 125 124 162 0.8 -22.8 1,867 2,178 -14.3
Bankruptcies 76 87 106 -12.6 -28.3 1,271 1,529 -16.9
Proposals 49 37 56 32.4 -12.5 596 649 -8.2
Saskatchewan 126 132 153 -4.5 -17.6 1,789 2,172 -17.6
Bankruptcies 77 83 86 -7.2 -10.5 1,059 1,334 -20.6
Proposals 49 49 67 0.0 -26.9 730 838 -12.9
Alberta 713 751 827 -5.1 -13.8 9,346 10,279 -9.1
Bankruptcies 426 456 558 -6.6 -23.7 5,776 7,122 -18.9
Proposals 287 295 269 -2.7 6.7 3,570 3,157 13.1
British Columbia 984 927 1,110 6.1 -11.4 11,877 11,994 -1.0
Bankruptcies 601 605 726 -0.7 -17.2 7,666 8,105 -5.4
Proposals 383 322 384 18.9 -0.3 4,211 3,889 8.3
Northwest Territories 4 2 4 100.0 0.0 52 46 13.0
Bankruptcies 3 1 4 200.0 -25.0 28 34 -17.6
Proposals 1 1 0 0.0 -- 24 12 100.0
Yukon 6 0 2 -- 200.0 40 35 14.3
Bankruptcies 3 0 2 -- 50.0 24 30 -20.0
Proposals 3 0 0 -- -- 16 5 220.0
Nunavut 0 0 1 -- -100.0 3 7 -57.1
Bankruptcies 0 0 0 -- -- 1 5 -80.0
Proposals 0 0 1 -- -100.0 2 2 0.0
Canada 9,675 9,666 10,852 0.1 -10.8 121,926 127,741 -4.6
Bankruptcies 5,652 5,705 6,568 -0.9 -13.9 73,825 80,977 -8.8
Proposals 4,023 3,961 4,284 1.6 -6.1 48,101 46,764 2.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Feb. 2013 Jan. 2013 Feb. 2012 Jan. 2013 to Feb. 2013 Feb. 2012 to Feb. 2013 02-28-2013 02-29-2012 % Change
Newfoundland and Labrador 148 138 153 7.2 -3.3 1,767 2,045 -13.6
Bankruptcies 135 131 142 3.1 -4.9 1,631 1,915 -14.8
Proposals 13 7 11 85.7 18.2 136 130 4.6
Prince Edward Island 44 47 51 -6.4 -13.7 612 622 -1.6
Bankruptcies 32 39 40 -17.9 -20.0 466 510 -8.6
Proposals 12 8 11 50.0 9.1 146 112 30.4
Nova Scotia 328 309 391 6.1 -16.1 4,236 4,498 -5.8
Bankruptcies 224 216 288 3.7 -22.2 3,135 3,531 -11.2
Proposals 104 93 103 11.8 1.0 1,101 967 13.9
New Brunswick 308 287 328 7.3 -6.1 3,817 3,664 4.2
Bankruptcies 228 222 237 2.7 -3.8 2,890 2,932 -1.4
Proposals 80 65 91 23.1 -12.1 927 732 26.6
Quebec 3,246 3,170 3,214 2.4 1.0 36,383 35,734 1.8
Bankruptcies 2,058 2,046 2,195 0.6 -6.2 24,389 25,480 -4.3
Proposals 1,188 1,124 1,019 5.7 16.6 11,994 10,254 17.0
Ontario 3,317 3,509 4,140 -5.5 -19.9 46,571 50,478 -7.7
Bankruptcies 1,556 1,613 1,938 -3.5 -19.7 22,824 25,421 -10.2
Proposals 1,761 1,896 2,202 -7.1 -20.0 23,747 25,057 -5.2
Manitoba 119 118 155 0.8 -23.2 1,817 2,104 -13.6
Bankruptcies 70 82 102 -14.6 -31.4 1,231 1,469 -16.2
Proposals 49 36 53 36.1 -7.5 586 635 -7.7
Saskatchewan 114 126 144 -9.5 -20.8 1,669 2,017 -17.3
Bankruptcies 73 80 81 -8.8 -9.9 992 1,229 -19.3
Proposals 41 46 63 -10.9 -34.9 677 788 -14.1
Alberta 694 735 789 -5.6 -12.0 9,062 9,937 -8.8
Bankruptcies 412 446 533 -7.6 -22.7 5,567 6,865 -18.9
Proposals 282 289 256 -2.4 10.2 3,495 3,072 13.8
British Columbia 953 906 1,077 5.2 -11.5 11,607 11,736 -1.1
Bankruptcies 582 589 702 -1.2 -17.1 7,476 7,906 -5.4
Proposals 371 317 375 17.0 -1.1 4,131 3,830 7.9
Northwest Territories 4 2 4 100.0 0.0 51 45 13.3
Bankruptcies 3 1 4 200.0 -25.0 28 34 -17.6
Proposals 1 1 0 0.0 -- 23 11 109.1
Yukon 4 0 2 -- 100.0 37 34 8.8
Bankruptcies 1 0 2 -- -50.0 21 29 -27.6
Proposals 3 0 0 -- -- 16 5 220.0
Nunavut 0 0 1 -- -100.0 2 7 -71.4
Bankruptcies 0 0 0 -- -- 0 5 -100.0
Proposals 0 0 1 -- -100.0 2 2 0.0
Canada 9,279 9,347 10,449 -0.7 -11.2 117,631 122,921 -4.3
Bankruptcies 5,374 5,465 6,264 -1.7 -14.2 70,650 77,326 -8.6
Proposals 3,905 3,882 4,185 0.6 -6.7 46,981 45,595 3.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Feb. 2013 Jan. 2013 Feb. 2012 Jan. 2013 to Feb. 2013 Feb. 2012 to Feb. 2013 02-28-2013 02-29-2012 % Change
Newfoundland and Labrador 1 5 1 -80.0 0.0 22 25 -12.0
Bankruptcies 1 3 1 -66.7 0.0 16 23 -30.4
Proposals 0 2 0 -100.0 -- 6 2 200.0
Prince Edward Island 3 3 4 0.0 -25.0 16 23 -30.4
Bankruptcies 3 3 4 0.0 -25.0 15 18 -16.7
Proposals 0 0 0 -- -- 1 5 -80.0
Nova Scotia 12 11 13 9.1 -7.7 110 107 2.8
Bankruptcies 8 9 11 -11.1 -27.3 88 90 -2.2
Proposals 4 2 2 100.0 100.0 22 17 29.4
New Brunswick 7 6 9 16.7 -22.2 67 68 -1.5
Bankruptcies 5 4 7 25.0 -28.6 48 53 -9.4
Proposals 2 2 2 0.0 0.0 19 15 26.7
Quebec 214 150 175 42.7 22.3 2,038 2,145 -5.0
Bankruptcies 151 109 133 38.5 13.5 1,494 1,568 -4.7
Proposals 63 41 42 53.7 50.0 544 577 -5.7
Ontario 89 95 114 -6.3 -21.9 1,313 1,621 -19.0
Bankruptcies 65 78 90 -16.7 -27.8 1,004 1,277 -21.4
Proposals 24 17 24 41.2 0.0 309 344 -10.2
Manitoba 6 6 7 0.0 -14.3 50 74 -32.4
Bankruptcies 6 5 4 20.0 50.0 40 60 -33.3
Proposals 0 1 3 -100.0 -100.0 10 14 -28.6
Saskatchewan 12 6 9 100.0 33.3 120 155 -22.6
Bankruptcies 4 3 5 33.3 -20.0 67 105 -36.2
Proposals 8 3 4 166.7 100.0 53 50 6.0
Alberta 19 16 38 18.8 -50.0 284 342 -17.0
Bankruptcies 14 10 25 40.0 -44.0 209 257 -18.7
Proposals 5 6 13 -16.7 -61.5 75 85 -11.8
British Columbia 31 21 33 47.6 -6.1 270 258 4.7
Bankruptcies 19 16 24 18.8 -20.8 190 199 -4.5
Proposals 12 5 9 140.0 33.3 80 59 35.6
Northwest Territories 0 0 0 -- -- 1 1 0.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 1 0.0
Yukon 2 0 0 -- -- 3 1 200.0
Bankruptcies 2 0 0 -- -- 3 1 200.0
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 396 319 403 24.1 -1.7 4,295 4,820 -10.9
Bankruptcies 278 240 304 15.8 -8.6 3,175 3,651 -13.0
Proposals 118 79 99 49.4 19.2 1,120 1,169 -4.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Feb. 2013 Jan. 2013 Feb. 2012 Jan. 2013 to Feb. 2013 Feb. 2012 to Feb. 2013 02-28-2013 02-29-2012 % Change
Agriculture, Forestry, Fishing and Hunting 9 10 13 -10.0 -30.8 112 136 -17.6
Bankruptcies 7 6 11 16.7 -36.4 81 96 -15.6
Proposals 2 4 2 -50.0 0.0 31 40 -22.5
Mining and Oil and Gas Extraction 0 0 0 -- -- 34 20 70.0
Bankruptcies 0 0 0 -- -- 26 14 85.7
Proposals 0 0 0 -- -- 8 6 33.3
Utilities 4 1 0 300.0 -- 22 17 29.4
Bankruptcies 3 0 0 -- -- 12 12 0.0
Proposals 1 1 0 0.0 -- 10 5 100.0
Construction 87 51 70 70.6 24.3 824 797 3.4
Bankruptcies 57 38 48 50.0 18.8 599 615 -2.6
Proposals 30 13 22 130.8 36.4 225 182 23.6
Manufacturing 35 35 40 0.0 -12.5 423 568 -25.5
Bankruptcies 22 22 31 0.0 -29.0 290 407 -28.7
Proposals 13 13 9 0.0 44.4 133 161 -17.4
Wholesale Trade 26 15 21 73.3 23.8 238 267 -10.9
Bankruptcies 18 13 15 38.5 20.0 174 203 -14.3
Proposals 8 2 6 300.0 33.3 64 64 0.0
Retail Trade 50 43 41 16.3 22.0 569 633 -10.1
Bankruptcies 36 36 31 0.0 16.1 438 485 -9.7
Proposals 14 7 10 100.0 40.0 131 148 -11.5
Transportation and Warehousing 18 24 20 -25.0 -10.0 258 309 -16.5
Bankruptcies 12 19 16 -36.8 -25.0 209 253 -17.4
Proposals 6 5 4 20.0 50.0 49 56 -12.5
Information and Cultural Industries 4 2 5 100.0 -20.0 61 74 -17.6
Bankruptcies 4 1 5 300.0 -20.0 51 53 -3.8
Proposals 0 1 0 -100.0 -- 10 21 -52.4
Finance and Insurance 11 7 9 57.1 22.2 77 104 -26.0
Bankruptcies 10 5 8 100.0 25.0 64 77 -16.9
Proposals 1 2 1 -50.0 0.0 13 27 -51.9
Real Estate and Rental and Leasing 13 4 16 225.0 -18.8 109 128 -14.8
Bankruptcies 10 2 11 400.0 -9.1 73 95 -23.2
Proposals 3 2 5 50.0 -40.0 36 33 9.1
Professional, Scientific and Technical Services 25 17 30 47.1 -16.7 260 308 -15.6
Bankruptcies 20 13 21 53.8 -4.8 191 207 -7.7
Proposals 5 4 9 25.0 -44.4 69 101 -31.7
Management of Companies and Enterprises 4 1 7 300.0 -42.9 58 60 -3.3
Bankruptcies 3 1 5 200.0 -40.0 47 49 -4.1
Proposals 1 0 2 -- -50.0 11 11 0.0
Administrative and Support, Waste Management and Remediation Services 11 21 26 -47.6 -57.7 192 229 -16.2
Bankruptcies 8 17 17 -52.9 -52.9 142 172 -17.4
Proposals 3 4 9 -25.0 -66.7 50 57 -12.3
Educational Services 3 3 6 0.0 -50.0 31 34 -8.8
Bankruptcies 1 3 5 -66.7 -80.0 25 25 0.0
Proposals 2 0 1 -- 100.0 6 9 -33.3
Health Care and Social Assistance 6 3 3 100.0 100.0 53 83 -36.1
Bankruptcies 4 2 2 100.0 100.0 42 61 -31.1
Proposals 2 1 1 100.0 100.0 11 22 -50.0
Arts, Entertainment and Recreation 9 6 10 50.0 -10.0 80 89 -10.1
Bankruptcies 8 4 9 100.0 -11.1 63 77 -18.2
Proposals 1 2 1 -50.0 0.0 17 12 41.7
Accommodation and Food Services 59 53 57 11.3 3.5 626 668 -6.3
Bankruptcies 40 37 45 8.1 -11.1 434 513 -15.4
Proposals 19 16 12 18.8 58.3 192 155 23.9
Other Services (except Public Administration) 22 23 29 -4.3 -24.1 265 291 -8.9
Bankruptcies 15 21 24 -28.6 -37.5 212 233 -9.0
Proposals 7 2 5 250.0 40.0 53 58 -8.6
Public Administration 0 0 0 -- -- 3 4 -25.0
Bankruptcies 0 0 0 -- -- 2 3 -33.3
Proposals 0 0 0 -- -- 1 1 0.0
Total 396 319 403 24.1 -1.7 4,295 4,820 -10.9
Bankruptcies 278 240 304 15.8 -8.6 3,175 3,651 -13.0
Proposals 118 79 99 49.4 19.2 1,120 1,169 -4.2
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