Insolvency Statistics in Canada—May 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
Volume % Change 12-Month Period Ending
May 2013 Apr. 2013 May 2012 Apr. 2013 to May 2013 May 2012 to May 2013 05-31-2013 05-31-2012 % Change
Newfoundland and Labrador 184 157 178 17.2 3.4 1,769 1,929 -8.3
Bankruptcies 163 140 157 16.4 3.8 1,625 1,794 -9.4
Proposals 21 17 21 23.5 0.0 144 135 6.7
Prince Edward Island 49 53 52 -7.5 -5.8 613 612 0.2
Bankruptcies 34 41 38 -17.1 -10.5 471 476 -1.1
Proposals 15 12 14 25.0 7.1 142 136 4.4
Nova Scotia 445 439 420 1.4 6.0 4,384 4,555 -3.8
Bankruptcies 325 334 333 -2.7 -2.4 3,203 3,541 -9.5
Proposals 120 105 87 14.3 37.9 1,181 1,014 16.5
New Brunswick 372 320 366 16.3 1.6 3,811 3,847 -0.9
Bankruptcies 277 258 302 7.4 -8.3 2,852 3,030 -5.9
Proposals 95 62 64 53.2 48.4 959 817 17.4
Quebec 3,944 3,905 3,494 1.0 12.9 39,510 37,874 4.3
Bankruptcies 2,537 2,517 2,430 0.8 4.4 26,074 26,676 -2.3
Proposals 1,407 1,388 1,064 1.4 32.2 13,436 11,198 20.0
Ontario 4,271 4,396 4,641 -2.8 -8.0 47,193 51,002 -7.5
Bankruptcies 2,163 2,248 2,264 -3.8 -4.5 23,592 25,843 -8.7
Proposals 2,108 2,148 2,377 -1.9 -11.3 23,601 25,159 -6.2
Manitoba 180 181 179 -0.6 0.6 1,871 2,107 -11.2
Bankruptcies 118 115 116 2.6 1.7 1,267 1,453 -12.8
Proposals 62 66 63 -6.1 -1.6 604 654 -7.6
Saskatchewan 169 176 167 -4.0 1.2 1,783 2,046 -12.9
Bankruptcies 98 110 97 -10.9 1.0 1,070 1,233 -13.2
Proposals 71 66 70 7.6 1.4 713 813 -12.3
Alberta 790 810 826 -2.5 -4.4 9,142 10,100 -9.5
Bankruptcies 445 479 543 -7.1 -18.0 5,468 6,793 -19.5
Proposals 345 331 283 4.2 21.9 3,674 3,307 11.1
British Columbia 1,168 1,113 1,072 4.9 9.0 11,850 12,160 -2.5
Bankruptcies 700 689 711 1.6 -1.5 7,512 8,008 -6.2
Proposals 468 424 361 10.4 29.6 4,338 4,152 4.5
Northwest Territories 2 4 1 -50.0 100.0 45 48 -6.3
Bankruptcies 1 1 1 0.0 0.0 23 33 -30.3
Proposals 1 3 0 -66.7 -- 22 15 46.7
Yukon 3 3 1 0.0 200.0 43 29 48.3
Bankruptcies 2 2 1 0.0 100.0 25 25 0.0
Proposals 1 1 0 0.0 -- 18 4 350.0
Nunavut 0 0 0 -- -- 4 5 -20.0
Bankruptcies 0 0 0 -- -- 2 3 -33.3
Proposals 0 0 0 -- -- 2 2 0.0
Canada 11,577 11,557 11,397 0.2 1.6 122,018 126,314 -3.4
Bankruptcies 6,863 6,934 6,993 -1.0 -1.9 73,184 78,908 -7.3
Proposals 4,714 4,623 4,404 2.0 7.0 48,834 47,406 3.0

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Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
May 2013 Apr. 2013 May 2012 Apr. 2013 to May 2013 May 2012 to May 2013 05-31-2013 05-31-2012 % Change
Newfoundland and Labrador 179 155 178 15.5 0.6 1,745 1,909 -8.6
Bankruptcies 159 138 157 15.2 1.3 1,608 1,776 -9.5
Proposals 20 17 21 17.6 -4.8 137 133 3.0
Prince Edward Island 49 51 52 -3.9 -5.8 598 591 1.2
Bankruptcies 34 40 38 -15.0 -10.5 458 458 0.0
Proposals 15 11 14 36.4 7.1 140 133 5.3
Nova Scotia 437 430 411 1.6 6.3 4,273 4,463 -4.3
Bankruptcies 319 327 325 -2.4 -1.8 3,115 3,465 -10.1
Proposals 118 103 86 14.6 37.2 1,158 998 16.0
New Brunswick 366 314 360 16.6 1.7 3,747 3,783 -1.0
Bankruptcies 272 253 296 7.5 -8.1 2,804 2,982 -6.0
Proposals 94 61 64 54.1 46.9 943 801 17.7
Quebec 3,735 3,715 3,292 0.5 13.5 37,436 35,813 4.5
Bankruptcies 2,384 2,384 2,295 0.0 3.9 24,541 25,180 -2.5
Proposals 1,351 1,331 997 1.5 35.5 12,895 10,633 21.3
Ontario 4,166 4,258 4,528 -2.2 -8.0 45,902 49,461 -7.2
Bankruptcies 2,085 2,136 2,186 -2.4 -4.6 22,587 24,646 -8.4
Proposals 2,081 2,122 2,342 -1.9 -11.1 23,315 24,815 -6.0
Manitoba 178 174 175 2.3 1.7 1,819 2,040 -10.8
Bankruptcies 117 109 112 7.3 4.5 1,225 1,397 -12.3
Proposals 61 65 63 -6.2 -3.2 594 643 -7.6
Saskatchewan 159 166 153 -4.2 3.9 1,667 1,894 -12.0
Bankruptcies 91 104 89 -12.5 2.2 1,004 1,128 -11.0
Proposals 68 62 64 9.7 6.3 663 766 -13.4
Alberta 773 793 791 -2.5 -2.3 8,889 9,751 -8.8
Bankruptcies 434 464 515 -6.5 -15.7 5,288 6,534 -19.1
Proposals 339 329 276 3.0 22.8 3,601 3,217 11.9
British Columbia 1,140 1,094 1,053 4.2 8.3 11,583 11,891 -2.6
Bankruptcies 678 676 695 0.3 -2.4 7,321 7,800 -6.1
Proposals 462 418 358 10.5 29.1 4,262 4,091 4.2
Northwest Territories 2 4 1 -50.0 100.0 45 47 -4.3
Bankruptcies 1 1 1 0.0 0.0 23 33 -30.3
Proposals 1 3 0 -66.7 -- 22 14 57.1
Yukon 3 3 0 0.0 -- 41 27 51.9
Bankruptcies 2 2 0 0.0 -- 23 23 0.0
Proposals 1 1 0 0.0 -- 18 4 350.0
Nunavut 0 0 0 -- -- 3 5 -40.0
Bankruptcies 0 0 0 -- -- 1 3 -66.7
Proposals 0 0 0 -- -- 2 2 0.0
Canada 11,187 11,157 10,994 0.3 1.8 117,748 121,675 -3.2
Bankruptcies 6,576 6,634 6,709 -0.9 -2.0 69,998 75,425 -7.2
Proposals 4,611 4,523 4,285 1.9 7.6 47,750 46,250 3.2

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Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
May 2013 Apr. 2013 May 2012 Apr. 2013 to May 2013 May 2012 to May 2013 05-31-2013 05-31-2012 % Change
Newfoundland and Labrador 5 2 0 150.0 -- 24 20 20.0
Bankruptcies 4 2 0 100.0 -- 17 18 -5.6
Proposals 1 0 0 -- -- 7 2 250.0
Prince Edward Island 0 2 0 -100.0 -- 15 21 -28.6
Bankruptcies 0 1 0 -100.0 -- 13 18 -27.8
Proposals 0 1 0 -100.0 -- 2 3 -33.3
Nova Scotia 8 9 9 -11.1 -11.1 111 92 20.7
Bankruptcies 6 7 8 -14.3 -25.0 88 76 15.8
Proposals 2 2 1 0.0 100.0 23 16 43.8
New Brunswick 6 6 6 0.0 0.0 64 64 0.0
Bankruptcies 5 5 6 0.0 -16.7 48 48 0.0
Proposals 1 1 0 0.0 -- 16 16 0.0
Quebec 209 190 202 10.0 3.5 2,074 2,061 0.6
Bankruptcies 153 133 135 15.0 13.3 1,533 1,496 2.5
Proposals 56 57 67 -1.8 -16.4 541 565 -4.2
Ontario 105 138 113 -23.9 -7.1 1,291 1,541 -16.2
Bankruptcies 78 112 78 -30.4 0.0 1,005 1,197 -16.0
Proposals 27 26 35 3.8 -22.9 286 344 -16.9
Manitoba 2 7 4 -71.4 -50.0 52 67 -22.4
Bankruptcies 1 6 4 -83.3 -75.0 42 56 -25.0
Proposals 1 1 0 0.0 -- 10 11 -9.1
Saskatchewan 10 10 14 0.0 -28.6 116 152 -23.7
Bankruptcies 7 6 8 16.7 -12.5 66 105 -37.1
Proposals 3 4 6 -25.0 -50.0 50 47 6.4
Alberta 17 17 35 0.0 -51.4 253 349 -27.5
Bankruptcies 11 15 28 -26.7 -60.7 180 259 -30.5
Proposals 6 2 7 200.0 -14.3 73 90 -18.9
British Columbia 28 19 19 47.4 47.4 267 269 -0.7
Bankruptcies 22 13 16 69.2 37.5 191 208 -8.2
Proposals 6 6 3 0.0 100.0 76 61 24.6
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 1 -- -100.0 2 2 0.0
Bankruptcies 0 0 1 -- -100.0 2 2 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 390 400 403 -2.5 -3.2 4,270 4,639 -8.0
Bankruptcies 287 300 284 -4.3 1.1 3,186 3,483 -8.5
Proposals 103 100 119 3.0 -13.4 1,084 1,156 -6.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
May 2013 Apr. 2013 May 2012 Apr. 2013 to May 2013 May 2012 to May 2013 05-31-2013 05-31-2012 % Change
Agriculture, Forestry, Fishing and Hunting 10 5 14 100.0 -28.6 107 125 -14.4
Bankruptcies 7 4 10 75.0 -30.0 77 98 -21.4
Proposals 3 1 4 200.0 -25.0 30 27 11.1
Mining and Oil and Gas Extraction 5 5 2 0.0 150.0 44 18 144.4
Bankruptcies 3 4 2 -25.0 50.0 30 13 130.8
Proposals 2 1 0 100.0 -- 14 5 180.0
Utilities 0 0 1 -- -100.0 17 16 6.3
Bankruptcies 0 0 1 -- -100.0 8 12 -33.3
Proposals 0 0 0 -- -- 9 4 125.0
Construction 64 60 76 6.7 -15.8 782 804 -2.7
Bankruptcies 50 45 55 11.1 -9.1 575 613 -6.2
Proposals 14 15 21 -6.7 -33.3 207 191 8.4
Manufacturing 36 42 39 -14.3 -7.7 420 525 -20.0
Bankruptcies 24 31 23 -22.6 4.3 290 376 -22.9
Proposals 12 11 16 9.1 -25.0 130 149 -12.8
Wholesale Trade 20 28 19 -28.6 5.3 237 249 -4.8
Bankruptcies 14 15 12 -6.7 16.7 170 185 -8.1
Proposals 6 13 7 -53.8 -14.3 67 64 4.7
Retail Trade 43 48 50 -10.4 -14.0 543 618 -12.1
Bankruptcies 32 38 38 -15.8 -15.8 420 467 -10.1
Proposals 11 10 12 10.0 -8.3 123 151 -18.5
Transportation and Warehousing 21 24 19 -12.5 10.5 261 281 -7.1
Bankruptcies 15 20 15 -25.0 0.0 213 223 -4.5
Proposals 6 4 4 50.0 50.0 48 58 -17.2
Information and Cultural Industries 9 7 6 28.6 50.0 64 68 -5.9
Bankruptcies 9 6 5 50.0 80.0 54 55 -1.8
Proposals 0 1 1 -100.0 -100.0 10 13 -23.1
Finance and Insurance 10 6 8 66.7 25.0 78 93 -16.1
Bankruptcies 9 5 7 80.0 28.6 66 65 1.5
Proposals 1 1 1 0.0 0.0 12 28 -57.1
Real Estate and Rental and Leasing 12 7 9 71.4 33.3 113 120 -5.8
Bankruptcies 10 4 4 150.0 150.0 85 81 4.9
Proposals 2 3 5 -33.3 -60.0 28 39 -28.2
Professional, Scientific and Technical Services 27 37 26 -27.0 3.8 289 295 -2.0
Bankruptcies 20 27 18 -25.9 11.1 218 211 3.3
Proposals 7 10 8 -30.0 -12.5 71 84 -15.5
Management of Companies and Enterprises 7 5 7 40.0 0.0 62 57 8.8
Bankruptcies 3 4 5 -25.0 -40.0 48 43 11.6
Proposals 4 1 2 300.0 100.0 14 14 0.0
Administrative and Support, Waste Management and Remediation Services 19 16 23 18.8 -17.4 196 225 -12.9
Bankruptcies 14 13 16 7.7 -12.5 147 167 -12.0
Proposals 5 3 7 66.7 -28.6 49 58 -15.5
Educational Services 1 4 5 -75.0 -80.0 28 35 -20.0
Bankruptcies 0 3 3 -100.0 -100.0 22 25 -12.0
Proposals 1 1 2 0.0 -50.0 6 10 -40.0
Health Care and Social Assistance 5 8 6 -37.5 -16.7 55 62 -11.3
Bankruptcies 4 8 4 -50.0 0.0 45 43 4.7
Proposals 1 0 2 -- -50.0 10 19 -47.4
Arts, Entertainment and Recreation 6 10 6 -40.0 0.0 83 85 -2.4
Bankruptcies 5 9 5 -44.4 0.0 67 73 -8.2
Proposals 1 1 1 0.0 0.0 16 12 33.3
Accommodation and Food Services 74 62 64 19.4 15.6 634 677 -6.4
Bankruptcies 50 47 41 6.4 22.0 453 497 -8.9
Proposals 24 15 23 60.0 4.3 181 180 0.6
Other Services (except Public Administration) 21 26 23 -19.2 -8.7 257 278 -7.6
Bankruptcies 18 17 20 5.9 -10.0 198 230 -13.9
Proposals 3 9 3 -66.7 0.0 59 48 22.9
Public Administration 0 0 0 -- -- 0 7 -100.0
Bankruptcies 0 0 0 -- -- 0 5 -100.0
Proposals 0 0 0 -- -- 0 2 -100.0
Total 390 400 403 -2.5 -3.2 4,270 4,639 -8.0
Bankruptcies 287 300 284 -4.3 1.1 3,186 3,483 -8.5
Proposals 103 100 119 3.0 -13.4 1,084 1,156 -6.2
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