Insolvency Statistics in Canada—March 2013

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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
empty cell Volume % Change 12-Month Period Ending
March 2013 Feb. 2013 March 2012 Feb. 2013 to March 2013 March 2012 to March 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 145 149 164 -2.7 -11.6 1,770 1,992 -11.1
Bankruptcies 136 136 156 0.0 -12.8 1,627 1,868 -12.9
Proposals 9 13 8 -30.8 12.5 143 124 15.3
Prince Edward Island 37 47 43 -21.3 -14.0 622 602 3.3
Bankruptcies 29 35 38 -17.1 -23.7 472 489 -3.5
Proposals 8 12 5 -33.3 60.0 150 113 32.7
Nova Scotia 386 340 408 13.5 -5.4 4,324 4,492 -3.7
Bankruptcies 289 232 312 24.6 -7.4 3,200 3,521 -9.1
Proposals 97 108 96 -10.2 1.0 1,124 971 15.8
New Brunswick 298 315 379 -5.4 -21.4 3,803 3,790 0.3
Bankruptcies 209 233 288 -10.3 -27.4 2,859 3,015 -5.2
Proposals 89 82 91 8.5 -2.2 944 775 21.8
Quebec 3,535 3,460 3,544 2.2 -0.3 38,412 37,824 1.6
Bankruptcies 2,167 2,209 2,348 -1.9 -7.7 25,702 26,855 -4.3
Proposals 1,368 1,251 1,196 9.4 14.4 12,710 10,969 15.9
Ontario 4,026 3,406 4,488 18.2 -10.3 47,422 51,277 -7.5
Bankruptcies 1,978 1,621 2,197 22.0 -10.0 23,609 26,197 -9.9
Proposals 2,048 1,785 2,291 14.7 -10.6 23,813 25,080 -5.1
Manitoba 165 125 171 32.0 -3.5 1,861 2,108 -11.7
Bankruptcies 110 76 112 44.7 -1.8 1,269 1,470 -13.7
Proposals 55 49 59 12.2 -6.8 592 638 -7.2
Saskatchewan 162 126 193 28.6 -16.1 1,758 2,132 -17.5
Bankruptcies 103 77 112 33.8 -8.0 1,050 1,297 -19.0
Proposals 59 49 81 20.4 -27.2 708 835 -15.2
Alberta 774 713 933 8.6 -17.0 9,187 10,249 -10.4
Bankruptcies 441 426 587 3.5 -24.9 5,630 7,003 -19.6
Proposals 333 287 346 16.0 -3.8 3,557 3,246 9.6
British Columbia 998 984 1,105 1.4 -9.7 11,770 11,955 -1.5
Bankruptcies 619 601 699 3.0 -11.4 7,586 7,976 -4.9
Proposals 379 383 406 -1.0 -6.7 4,184 3,979 5.2
Northwest Territories 3 4 10 -25.0 -70.0 45 50 -10.0
Bankruptcies 1 3 5 -66.7 -80.0 24 35 -31.4
Proposals 2 1 5 100.0 -60.0 21 15 40.0
Yukon 1 6 1 -83.3 0.0 40 32 25.0
Bankruptcies 1 3 1 -66.7 0.0 24 28 -14.3
Proposals 0 3 0 -100.0 -- 16 4 300.0
Nunavut 1 0 0 -- -- 4 6 -33.3
Bankruptcies 1 0 0 -- -- 2 4 -50.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,531 9,675 11,439 8.8 -7.9 121,018 126,509 -4.3
Bankruptcies 6,084 5,652 6,855 7.6 -11.2 73,054 79,758 -8.4
Proposals 4,447 4,023 4,584 10.5 -3.0 47,964 46,751 2.6

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Table 2: Insolvencies Filed by Consumers
empty cell Volume % Change 12-Month Period Ending
March 2013 Feb. 2013 March 2012 Feb. 2013 to March 2013 March 2012 to March 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 145 148 160 -2.0 -9.4 1,752 1,969 -11.0
Bankruptcies 136 135 152 0.7 -10.5 1,615 1,847 -12.6
Proposals 9 13 8 -30.8 12.5 137 122 12.3
Prince Edward Island 37 44 40 -15.9 -7.5 609 578 5.4
Bankruptcies 29 32 35 -9.4 -17.1 460 470 -2.1
Proposals 8 12 5 -33.3 60.0 149 108 38.0
Nova Scotia 380 328 401 15.9 -5.2 4,215 4,394 -4.1
Bankruptcies 283 224 306 26.3 -7.5 3,112 3,441 -9.6
Proposals 97 104 95 -6.7 2.1 1,103 953 15.7
New Brunswick 296 308 377 -3.9 -21.5 3,736 3,725 0.3
Bankruptcies 207 228 286 -9.2 -27.6 2,811 2,963 -5.1
Proposals 89 80 91 11.3 -2.2 925 762 21.4
Quebec 3,354 3,246 3,368 3.3 -0.4 36,369 35,726 1.8
Bankruptcies 2,030 2,058 2,229 -1.4 -8.9 24,190 25,323 -4.5
Proposals 1,324 1,188 1,139 11.4 16.2 12,179 10,403 17.1
Ontario 3,908 3,317 4,333 17.8 -9.8 46,146 49,706 -7.2
Bankruptcies 1,885 1,556 2,078 21.1 -9.3 22,631 24,960 -9.3
Proposals 2,023 1,761 2,255 14.9 -10.3 23,515 24,746 -5.0
Manitoba 162 119 165 36.1 -1.8 1,814 2,038 -11.0
Bankruptcies 107 70 108 52.9 -0.9 1,230 1,413 -13.0
Proposals 55 49 57 12.2 -3.5 584 625 -6.6
Saskatchewan 146 114 181 28.1 -19.3 1,634 1,987 -17.8
Bankruptcies 90 73 103 23.3 -12.6 979 1,193 -17.9
Proposals 56 41 78 36.6 -28.2 655 794 -17.5
Alberta 754 694 908 8.6 -17.0 8,908 9,910 -10.1
Bankruptcies 429 412 568 4.1 -24.5 5,428 6,753 -19.6
Proposals 325 282 340 15.2 -4.4 3,480 3,157 10.2
British Columbia 974 953 1,076 2.2 -9.5 11,505 11,688 -1.6
Bankruptcies 597 582 680 2.6 -12.2 7,393 7,773 -4.9
Proposals 377 371 396 1.6 -4.8 4,112 3,915 5.0
Northwest Territories 3 4 10 -25.0 -70.0 44 50 -12.0
Bankruptcies 1 3 5 -66.7 -80.0 24 35 -31.4
Proposals 2 1 5 100.0 -60.0 20 15 33.3
Yukon 1 4 1 -75.0 0.0 37 31 19.4
Bankruptcies 1 1 1 0.0 0.0 21 27 -22.2
Proposals 0 3 0 -100.0 -- 16 4 300.0
Nunavut 1 0 0 -- -- 3 6 -50.0
Bankruptcies 1 0 0 -- -- 1 4 -75.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 10,161 9,279 11,020 9.5 -7.8 116,772 121,808 -4.1
Bankruptcies 5,796 5,374 6,551 7.9 -11.5 69,895 76,202 -8.3
Proposals 4,365 3,905 4,469 11.8 -2.3 46,877 45,606 2.8

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Table 3: Insolvencies Filed by Businesses
empty cell Volume % Change 12-Month Period Ending
March 2013 Feb. 2013 March 2012 Feb. 2013 to March 2013 March 2012 to March 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 0 1 4 -100.0 -100.0 18 23 -21.7
Bankruptcies 0 1 4 -100.0 -100.0 12 21 -42.9
Proposals 0 0 0 -- -- 6 2 200.0
Prince Edward Island 0 3 3 -100.0 -100.0 13 24 -45.8
Bankruptcies 0 3 3 -100.0 -100.0 12 19 -36.8
Proposals 0 0 0 -- -- 1 5 -80.0
Nova Scotia 6 12 7 -50.0 -14.3 109 98 11.2
Bankruptcies 6 8 6 -25.0 0.0 88 80 10.0
Proposals 0 4 1 -100.0 -100.0 21 18 16.7
New Brunswick 2 7 2 -71.4 0.0 67 65 3.1
Bankruptcies 2 5 2 -60.0 0.0 48 52 -7.7
Proposals 0 2 0 -100.0 -- 19 13 46.2
Quebec 181 214 176 -15.4 2.8 2,043 2,098 -2.6
Bankruptcies 137 151 119 -9.3 15.1 1,512 1,532 -1.3
Proposals 44 63 57 -30.2 -22.8 531 566 -6.2
Ontario 118 89 155 32.6 -23.9 1,276 1,571 -18.8
Bankruptcies 93 65 119 43.1 -21.8 978 1,237 -20.9
Proposals 25 24 36 4.2 -30.6 298 334 -10.8
Manitoba 3 6 6 -50.0 -50.0 47 70 -32.9
Bankruptcies 3 6 4 -50.0 -25.0 39 57 -31.6
Proposals 0 0 2 -- -100.0 8 13 -38.5
Saskatchewan 16 12 12 33.3 33.3 124 145 -14.5
Bankruptcies 13 4 9 225.0 44.4 71 104 -31.7
Proposals 3 8 3 -62.5 0.0 53 41 29.3
Alberta 20 19 25 5.3 -20.0 279 339 -17.7
Bankruptcies 12 14 19 -14.3 -36.8 202 250 -19.2
Proposals 8 5 6 60.0 33.3 77 89 -13.5
British Columbia 24 31 29 -22.6 -17.2 265 267 -0.7
Bankruptcies 22 19 19 15.8 15.8 193 203 -4.9
Proposals 2 12 10 -83.3 -80.0 72 64 12.5
Northwest Territories 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 0 --
Yukon 0 2 0 -100.0 -- 3 1 200.0
Bankruptcies 0 2 0 -100.0 -- 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 370 396 419 -6.6 -11.7 4,246 4,701 -9.7
Bankruptcies 288 278 304 3.6 -5.3 3,159 3,556 -11.2
Proposals 82 118 115 -30.5 -28.7 1,087 1,145 -5.1

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Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
March 2013 Feb. 2013 March 2012 Feb. 2013 to March 2013 March 2012 to March 2013 03-31-2013 03-31-2012 % Change
Agriculture, Forestry, Fishing and Hunting 11 9 6 22.2 83.3 117 122 -4.1
Bankruptcies 9 7 6 28.6 50.0 84 89 -5.6
Proposals 2 2 0 0.0 -- 33 33 0.0
Mining and Oil and Gas Extraction 5 0 0 -- -- 39 19 105.3
Bankruptcies 2 0 0 -- -- 28 13 115.4
Proposals 3 0 0 -- -- 11 6 83.3
Utilities 0 4 1 -100.0 -100.0 21 15 40.0
Bankruptcies 0 3 1 -100.0 -100.0 11 11 0.0
Proposals 0 1 0 -100.0 -- 10 4 150.0
Construction 66 87 94 -24.1 -29.8 796 795 0.1
Bankruptcies 57 57 69 0.0 -17.4 587 609 -3.6
Proposals 9 30 25 -70.0 -64.0 209 186 12.4
Manufacturing 36 35 41 2.9 -12.2 418 547 -23.6
Bankruptcies 24 22 26 9.1 -7.7 288 396 -27.3
Proposals 12 13 15 -7.7 -20.0 130 151 -13.9
Wholesale Trade 14 26 26 -46.2 -46.2 226 264 -14.4
Bankruptcies 12 18 21 -33.3 -42.9 165 204 -19.1
Proposals 2 8 5 -75.0 -60.0 61 60 1.7
Retail Trade 52 50 60 4.0 -13.3 561 614 -8.6
Bankruptcies 41 36 41 13.9 0.0 438 460 -4.8
Proposals 11 14 19 -21.4 -42.1 123 154 -20.1
Transportation and Warehousing 18 18 19 0.0 -5.3 257 302 -14.9
Bankruptcies 14 12 14 16.7 0.0 209 243 -14.0
Proposals 4 6 5 -33.3 -20.0 48 59 -18.6
Information and Cultural Industries 5 4 6 25.0 -16.7 60 71 -15.5
Bankruptcies 5 4 6 25.0 -16.7 50 52 -3.8
Proposals 0 0 0 -- -- 10 19 -47.4
Finance and Insurance 5 11 9 -54.5 -44.4 73 102 -28.4
Bankruptcies 4 10 7 -60.0 -42.9 61 74 -17.6
Proposals 1 1 2 0.0 -50.0 12 28 -57.1
Real Estate and Rental and Leasing 18 13 15 38.5 20.0 112 129 -13.2
Bankruptcies 16 10 10 60.0 60.0 79 97 -18.6
Proposals 2 3 5 -33.3 -60.0 33 32 3.1
Professional, Scientific and Technical Services 36 25 28 44.0 28.6 268 298 -10.1
Bankruptcies 29 20 21 45.0 38.1 199 209 -4.8
Proposals 7 5 7 40.0 0.0 69 89 -22.5
Management of Companies and Enterprises 7 4 5 75.0 40.0 60 60 0.0
Bankruptcies 6 3 4 100.0 50.0 49 48 2.1
Proposals 1 1 1 0.0 0.0 11 12 -8.3
Administrative and Support, Waste Management and Remediation Services 18 11 15 63.6 20.0 195 224 -12.9
Bankruptcies 13 8 10 62.5 30.0 145 167 -13.2
Proposals 5 3 5 66.7 0.0 50 57 -12.3
Educational Services 2 3 4 -33.3 -50.0 29 34 -14.7
Bankruptcies 1 1 3 0.0 -66.7 23 25 -8.0
Proposals 1 2 1 -50.0 0.0 6 9 -33.3
Health Care and Social Assistance 3 6 3 -50.0 0.0 53 73 -27.4
Bankruptcies 2 4 3 -50.0 -33.3 41 51 -19.6
Proposals 1 2 0 -50.0 -- 12 22 -45.5
Arts, Entertainment and Recreation 6 9 9 -33.3 -33.3 77 92 -16.3
Bankruptcies 6 8 7 -25.0 -14.3 62 79 -21.5
Proposals 0 1 2 -100.0 -100.0 15 13 15.4
Accommodation and Food Services 57 59 57 -3.4 0.0 626 653 -4.1
Bankruptcies 40 40 36 0.0 11.1 438 495 -11.5
Proposals 17 19 21 -10.5 -19.0 188 158 19.0
Other Services (except Public Administration) 11 22 19 -50.0 -42.1 257 280 -8.2
Bankruptcies 7 15 17 -53.3 -58.8 202 228 -11.4
Proposals 4 7 2 -42.9 100.0 55 52 5.8
Public Administration 0 0 2 -- -100.0 1 6 -83.3
Bankruptcies 0 0 2 -- -100.0 0 5 -100.0
Proposals 0 0 0 -- -- 1 1 0.0
Total 370 396 419 -6.6 -11.7 4,246 4,701 -9.7
Bankruptcies 288 278 304 3.6 -5.3 3,159 3,556 -11.2
Proposals 82 118 115 -30.5 -28.7 1,087 1,145 -5.1
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