Insolvency Statistics in Canada—June 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
June 2013 May 2013 June 2012 May 2013 to June 2013 June 2012 to June 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 140 184 161 -23.9 -13.0 1,748 1,922 -9.1
Bankruptcies 136 163 146 -16.6 -6.8 1,615 1,779 -9.2
Proposals 4 21 15 -81.0 -73.3 133 143 -7.0
Prince Edward Island 46 49 55 -6.1 -16.4 604 606 -0.3
Bankruptcies 36 34 40 5.9 -10.0 467 464 0.6
Proposals 10 15 15 -33.3 -33.3 137 142 -3.5
Nova Scotia 419 445 379 -5.8 10.6 4,424 4,516 -2.0
Bankruptcies 273 325 284 -16.0 -3.9 3,192 3,487 -8.5
Proposals 146 120 95 21.7 53.7 1,232 1,029 19.7
New Brunswick 347 372 349 -6.7 -0.6 3,809 3,846 -1.0
Bankruptcies 241 277 271 -13.0 -11.1 2,822 2,998 -5.9
Proposals 106 95 78 11.6 35.9 987 848 16.4
Quebec 3,258 3,944 2,941 -17.4 10.8 39,827 37,728 5.6
Bankruptcies 2,112 2,537 2,039 -16.8 3.6 26,147 26,450 -1.1
Proposals 1,146 1,407 902 -18.6 27.1 13,680 11,278 21.3
Ontario 3,660 4,271 4,174 -14.3 -12.3 46,679 50,603 -7.8
Bankruptcies 1,868 2,163 2,094 -13.6 -10.8 23,366 25,539 -8.5
Proposals 1,792 2,108 2,080 -15.0 -13.8 23,313 25,064 -7.0
Manitoba 153 180 163 -15.0 -6.1 1,861 2,058 -9.6
Bankruptcies 107 118 107 -9.3 0.0 1,267 1,403 -9.7
Proposals 46 62 56 -25.8 -17.9 594 655 -9.3
Saskatchewan 134 169 168 -20.7 -20.2 1,749 2,033 -14.0
Bankruptcies 73 98 100 -25.5 -27.0 1,043 1,221 -14.6
Proposals 61 71 68 -14.1 -10.3 706 812 -13.1
Alberta 681 790 840 -13.8 -18.9 8,983 9,988 -10.1
Bankruptcies 384 445 506 -13.7 -24.1 5,346 6,634 -19.4
Proposals 297 345 334 -13.9 -11.1 3,637 3,354 8.4
British Columbia 1,014 1,168 1,013 -13.2 0.1 11,851 12,162 -2.6
Bankruptcies 595 700 652 -15.0 -8.7 7,455 7,982 -6.6
Proposals 419 468 361 -10.5 16.1 4,396 4,180 5.2
Northwest Territories 5 2 3 150.0 66.7 47 47 0.0
Bankruptcies 4 1 2 300.0 100.0 25 32 -21.9
Proposals 1 1 1 0.0 0.0 22 15 46.7
Yukon 3 3 3 0.0 0.0 43 30 43.3
Bankruptcies 3 2 2 50.0 50.0 26 25 4.0
Proposals 0 1 1 -100.0 -100.0 17 5 240.0
Nunavut 1 0 0 -- -- 5 3 66.7
Bankruptcies 0 0 0 -- -- 2 1 100.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,861 11,577 10,249 -14.8 -3.8 121,630 125,542 -3.1
Bankruptcies 5,832 6,863 6,243 -15.0 -6.6 72,773 78,015 -6.7
Proposals 4,029 4,714 4,006 -14.5 0.6 48,857 47,527 2.8
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
June 2013 May 2013 June 2012 May 2013 to June 2013 June 2012 to June 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 139 179 161 -22.3 -13.7 1,723 1,905 -9.6
Bankruptcies 135 159 146 -15.1 -7.5 1,597 1,764 -9.5
Proposals 4 20 15 -80.0 -73.3 126 141 -10.6
Prince Edward Island 45 49 52 -8.2 -13.5 591 583 1.4
Bankruptcies 36 34 38 5.9 -5.3 456 445 2.5
Proposals 9 15 14 -40.0 -35.7 135 138 -2.2
Nova Scotia 408 437 370 -6.6 10.3 4,311 4,427 -2.6
Bankruptcies 265 319 275 -16.9 -3.6 3,105 3,412 -9.0
Proposals 143 118 95 21.2 50.5 1,206 1,015 18.8
New Brunswick 337 366 346 -7.9 -2.6 3,738 3,783 -1.2
Bankruptcies 234 272 268 -14.0 -12.7 2,770 2,949 -6.1
Proposals 103 94 78 9.6 32.1 968 834 16.1
Quebec 3,093 3,735 2,778 -17.2 11.3 37,751 35,671 5.8
Bankruptcies 2,000 2,384 1,911 -16.1 4.7 24,630 24,948 -1.3
Proposals 1,093 1,351 867 -19.1 26.1 13,121 10,723 22.4
Ontario 3,564 4,166 4,063 -14.5 -12.3 45,403 49,117 -7.6
Bankruptcies 1,803 2,085 2,010 -13.5 -10.3 22,380 24,396 -8.3
Proposals 1,761 2,081 2,053 -15.4 -14.2 23,023 24,721 -6.9
Manitoba 150 178 158 -15.7 -5.1 1,811 1,990 -9.0
Bankruptcies 104 117 106 -11.1 -1.9 1,223 1,350 -9.4
Proposals 46 61 52 -24.6 -11.5 588 640 -8.1
Saskatchewan 122 159 160 -23.3 -23.8 1,629 1,887 -13.7
Bankruptcies 65 91 94 -28.6 -30.9 975 1,118 -12.8
Proposals 57 68 66 -16.2 -13.6 654 769 -15.0
Alberta 669 773 809 -13.5 -17.3 8,749 9,641 -9.3
Bankruptcies 375 434 484 -13.6 -22.5 5,179 6,369 -18.7
Proposals 294 339 325 -13.3 -9.5 3,570 3,272 9.1
British Columbia 992 1,140 1,004 -13.0 -1.2 11,571 11,909 -2.8
Bankruptcies 578 678 644 -14.7 -10.2 7,255 7,786 -6.8
Proposals 414 462 360 -10.4 15.0 4,316 4,123 4.7
Northwest Territories 5 2 3 150.0 66.7 47 46 2.2
Bankruptcies 4 1 2 300.0 100.0 25 32 -21.9
Proposals 1 1 1 0.0 0.0 22 14 57.1
Yukon 3 3 3 0.0 0.0 41 28 46.4
Bankruptcies 3 2 2 50.0 50.0 24 23 4.3
Proposals 0 1 1 -100.0 -100.0 17 5 240.0
Nunavut 1 0 0 -- -- 4 3 33.3
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 9,528 11,187 9,907 -14.8 -3.8 117,369 120,990 -3.0
Bankruptcies 5,602 6,576 5,980 -14.8 -6.3 69,620 74,593 -6.7
Proposals 3,926 4,611 3,927 -14.9 0.0 47,749 46,397 2.9
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
June 2013 May 2013 June 2012 May 2013 to June 2013 June 2012 to June 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 1 5 0 -80.0 -- 25 17 47.1
Bankruptcies 1 4 0 -75.0 -- 18 15 20.0
Proposals 0 1 0 -100.0 -- 7 2 250.0
Prince Edward Island 1 0 3 -- -66.7 13 23 -43.5
Bankruptcies 0 0 2 -- -100.0 11 19 -42.1
Proposals 1 0 1 -- 0.0 2 4 -50.0
Nova Scotia 11 8 9 37.5 22.2 113 89 27.0
Bankruptcies 8 6 9 33.3 -11.1 87 75 16.0
Proposals 3 2 0 50.0 -- 26 14 85.7
New Brunswick 10 6 3 66.7 233.3 71 63 12.7
Bankruptcies 7 5 3 40.0 133.3 52 49 6.1
Proposals 3 1 0 200.0 -- 19 14 35.7
Quebec 165 209 163 -21.1 1.2 2,076 2,057 0.9
Bankruptcies 112 153 128 -26.8 -12.5 1,517 1,502 1.0
Proposals 53 56 35 -5.4 51.4 559 555 0.7
Ontario 96 105 111 -8.6 -13.5 1,276 1,486 -14.1
Bankruptcies 65 78 84 -16.7 -22.6 986 1,143 -13.7
Proposals 31 27 27 14.8 14.8 290 343 -15.5
Manitoba 3 2 5 50.0 -40.0 50 68 -26.5
Bankruptcies 3 1 1 200.0 200.0 44 53 -17.0
Proposals 0 1 4 -100.0 -100.0 6 15 -60.0
Saskatchewan 12 10 8 20.0 50.0 120 146 -17.8
Bankruptcies 8 7 6 14.3 33.3 68 103 -34.0
Proposals 4 3 2 33.3 100.0 52 43 20.9
Alberta 12 17 31 -29.4 -61.3 234 347 -32.6
Bankruptcies 9 11 22 -18.2 -59.1 167 265 -37.0
Proposals 3 6 9 -50.0 -66.7 67 82 -18.3
British Columbia 22 28 9 -21.4 144.4 280 253 10.7
Bankruptcies 17 22 8 -22.7 112.5 200 196 2.0
Proposals 5 6 1 -16.7 400.0 80 57 40.4
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 0 -- -- 2 2 0.0
Bankruptcies 0 0 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 333 390 342 -14.6 -2.6 4,261 4,552 -6.4
Bankruptcies 230 287 263 -19.9 -12.5 3,153 3,422 -7.9
Proposals 103 103 79 0.0 30.4 1,108 1,130 -1.9
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
June 2013 May 2013 June 2012 May 2013 to June 2013 June 2012 to June 2013 06-30-2013 06-30-2012 % Change
Agriculture, Forestry, Fishing and Hunting 6 10 13 -40.0 -53.8 100 133 -24.8
Bankruptcies 6 7 10 -14.3 -40.0 73 103 -29.1
Proposals 0 3 3 -100.0 -100.0 27 30 -10.0
Mining and Oil and Gas Extraction 3 5 3 -40.0 0.0 44 20 120.0
Bankruptcies 1 3 2 -66.7 -50.0 29 14 107.1
Proposals 2 2 1 0.0 100.0 15 6 150.0
Utilities 0 0 2 -- -100.0 15 16 -6.3
Bankruptcies 0 0 2 -- -100.0 6 13 -53.8
Proposals 0 0 0 -- -- 9 3 200.0
Construction 57 64 78 -10.9 -26.9 761 797 -4.5
Bankruptcies 42 50 56 -16.0 -25.0 561 607 -7.6
Proposals 15 14 22 7.1 -31.8 200 190 5.3
Manufacturing 34 36 25 -5.6 36.0 429 505 -15.0
Bankruptcies 21 24 17 -12.5 23.5 294 364 -19.2
Proposals 13 12 8 8.3 62.5 135 141 -4.3
Wholesale Trade 11 20 24 -45.0 -54.2 224 251 -10.8
Bankruptcies 5 14 18 -64.3 -72.2 157 188 -16.5
Proposals 6 6 6 0.0 0.0 67 63 6.3
Retail Trade 39 43 47 -9.3 -17.0 535 631 -15.2
Bankruptcies 28 32 34 -12.5 -17.6 414 474 -12.7
Proposals 11 11 13 0.0 -15.4 121 157 -22.9
Transportation and Warehousing 20 21 24 -4.8 -16.7 257 271 -5.2
Bankruptcies 14 15 20 -6.7 -30.0 207 213 -2.8
Proposals 6 6 4 0.0 50.0 50 58 -13.8
Information and Cultural Industries 5 9 6 -44.4 -16.7 63 66 -4.5
Bankruptcies 4 9 5 -55.6 -20.0 53 53 0.0
Proposals 1 0 1 -- 0.0 10 13 -23.1
Finance and Insurance 4 10 4 -60.0 0.0 78 83 -6.0
Bankruptcies 3 9 4 -66.7 -25.0 65 62 4.8
Proposals 1 1 0 0.0 -- 13 21 -38.1
Real Estate and Rental and Leasing 15 12 3 25.0 400.0 125 113 10.6
Bankruptcies 14 10 3 40.0 366.7 96 76 26.3
Proposals 1 2 0 -50.0 -- 29 37 -21.6
Professional, Scientific and Technical Services 20 27 20 -25.9 0.0 289 287 0.7
Bankruptcies 10 20 15 -50.0 -33.3 213 205 3.9
Proposals 10 7 5 42.9 100.0 76 82 -7.3
Management of Companies and Enterprises 9 7 5 28.6 80.0 66 58 13.8
Bankruptcies 6 3 5 100.0 20.0 49 46 6.5
Proposals 3 4 0 -25.0 -- 17 12 41.7
Administrative and Support, Waste Management and Remediation Services 19 19 20 0.0 -5.0 195 232 -15.9
Bankruptcies 15 14 15 7.1 0.0 147 170 -13.5
Proposals 4 5 5 -20.0 -20.0 48 62 -22.6
Educational Services 5 1 2 400.0 150.0 31 32 -3.1
Bankruptcies 2 0 2 -- 0.0 22 26 -15.4
Proposals 3 1 0 200.0 -- 9 6 50.0
Health Care and Social Assistance 6 5 3 20.0 100.0 58 57 1.8
Bankruptcies 5 4 3 25.0 66.7 47 41 14.6
Proposals 1 1 0 0.0 -- 11 16 -31.3
Arts, Entertainment and Recreation 5 6 6 -16.7 -16.7 82 77 6.5
Bankruptcies 4 5 5 -20.0 -20.0 66 66 0.0
Proposals 1 1 1 0.0 0.0 16 11 45.5
Accommodation and Food Services 56 74 46 -24.3 21.7 644 657 -2.0
Bankruptcies 37 50 37 -26.0 0.0 453 480 -5.6
Proposals 19 24 9 -20.8 111.1 191 177 7.9
Other Services (except Public Administration) 19 21 11 -9.5 72.7 265 259 2.3
Bankruptcies 13 18 10 -27.8 30.0 201 216 -6.9
Proposals 6 3 1 100.0 500.0 64 43 48.8
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 333 390 342 -14.6 -2.6 4,261 4,552 -6.4
Bankruptcies 230 287 263 -19.9 -12.5 3,153 3,422 -7.9
Proposals 103 103 79 0.0 30.4 1,108 1,130 -1.9
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