Insolvency Statistics in Canada—July 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
July 2013 June 2013 July 2012 Jun. 2013 to Jul. 2013 Jul. 2012 to Jul. 2013 07-31-2013 07-31-2012 % Change
Newfoundland and Labrador 156 140 140 11.4 11.4 1,764 1,888 -6.6
Bankruptcies 140 136 126 2.9 11.1 1,629 1,739 -6.3
Proposals 16 4 14 300.0 14.3 135 149 -9.4
Prince Edward Island 73 46 61 58.7 19.7 616 620 -0.6
Bankruptcies 53 36 45 47.2 17.8 475 475 0.0
Proposals 20 10 16 100.0 25.0 141 145 -2.8
Nova Scotia 395 419 354 -5.7 11.6 4,465 4,531 -1.5
Bankruptcies 264 273 266 -3.3 -0.8 3,190 3,491 -8.6
Proposals 131 146 88 -10.3 48.9 1,275 1,040 22.6
New Brunswick 369 347 312 6.3 18.3 3,866 3,860 0.2
Bankruptcies 267 241 213 10.8 25.4 2,876 2,976 -3.4
Proposals 102 106 99 -3.8 3.0 990 884 12.0
Quebec 3,368 3,258 2,787 3.4 20.8 40,408 38,035 6.2
Bankruptcies 2,219 2,112 1,920 5.1 15.6 26,446 26,576 -0.5
Proposals 1,149 1,146 867 0.3 32.5 13,962 11,459 21.8
Ontario 3,681 3,660 3,816 0.6 -3.5 46,544 50,758 -8.3
Bankruptcies 1,906 1,868 1,955 2.0 -2.5 23,317 25,570 -8.8
Proposals 1,775 1,792 1,861 -0.9 -4.6 23,227 25,188 -7.8
Manitoba 164 153 144 7.2 13.9 1,881 2,041 -7.8
Bankruptcies 107 107 103 0.0 3.9 1,271 1,400 -9.2
Proposals 57 46 41 23.9 39.0 610 641 -4.8
Saskatchewan 145 134 146 8.2 -0.7 1,748 1,991 -12.2
Bankruptcies 97 73 89 32.9 9.0 1,051 1,192 -11.8
Proposals 48 61 57 -21.3 -15.8 697 799 -12.8
Alberta 678 681 804 -0.4 -15.7 8,857 9,983 -11.3
Bankruptcies 394 384 505 2.6 -22.0 5,235 6,590 -20.6
Proposals 284 297 299 -4.4 -5.0 3,622 3,393 6.7
British Columbia 1,037 1,014 991 2.3 4.6 11,897 12,215 -2.6
Bankruptcies 594 595 645 -0.2 -7.9 7,404 7,977 -7.2
Proposals 443 419 346 5.7 28.0 4,493 4,238 6.0
Northwest Territories 8 5 4 60.0 100.0 51 48 6.3
Bankruptcies 6 4 2 50.0 200.0 29 31 -6.5
Proposals 2 1 2 100.0 0.0 22 17 29.4
Yukon 2 3 4 -33.3 -50.0 41 26 57.7
Bankruptcies 2 3 2 -33.3 0.0 26 21 23.8
Proposals 0 0 2 -- -100.0 15 5 200.0
Nunavut 0 1 2 -100.0 -100.0 3 3 0.0
Bankruptcies 0 0 1 -- -100.0 1 1 0.0
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 10,076 9,861 9,565 2.2 5.3 122,141 125,999 -3.1
Bankruptcies 6,049 5,832 5,872 3.7 3.0 72,950 78,039 -6.5
Proposals 4,027 4,029 3,693 0.0 9.0 49,191 47,960 2.6
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
July 2013 June 2013 July 2012 Jun. 2013 to Jul. 2013 Jul. 2012 to Jul. 2013 07-31-2013 07-31-2012 % Change
Newfoundland and Labrador 154 139 138 10.8 11.6 1,739 1,870 -7.0
Bankruptcies 140 135 125 3.7 12.0 1,612 1,724 -6.5
Proposals 14 4 13 250.0 7.7 127 146 -13.0
Prince Edward Island 73 45 60 62.2 21.7 604 597 1.2
Bankruptcies 53 36 44 47.2 20.5 465 456 2.0
Proposals 20 9 16 122.2 25.0 139 141 -1.4
Nova Scotia 389 408 345 -4.7 12.8 4,355 4,438 -1.9
Bankruptcies 259 265 259 -2.3 0.0 3,105 3,413 -9.0
Proposals 130 143 86 -9.1 51.2 1,250 1,025 22.0
New Brunswick 364 337 306 8.0 19.0 3,796 3,796 0.0
Bankruptcies 262 234 209 12.0 25.4 2,823 2,925 -3.5
Proposals 102 103 97 -1.0 5.2 973 871 11.7
Quebec 3,192 3,093 2,646 3.2 20.6 38,297 35,961 6.5
Bankruptcies 2,081 2,000 1,807 4.1 15.2 24,904 25,052 -0.6
Proposals 1,111 1,093 839 1.6 32.4 13,393 10,909 22.8
Ontario 3,592 3,564 3,720 0.8 -3.4 45,275 49,277 -8.1
Bankruptcies 1,835 1,803 1,878 1.8 -2.3 22,337 24,428 -8.6
Proposals 1,757 1,761 1,842 -0.2 -4.6 22,938 24,849 -7.7
Manitoba 157 150 140 4.7 12.1 1,828 1,973 -7.3
Bankruptcies 104 104 99 0.0 5.1 1,228 1,346 -8.8
Proposals 53 46 41 15.2 29.3 600 627 -4.3
Saskatchewan 133 122 137 9.0 -2.9 1,625 1,846 -12.0
Bankruptcies 89 65 87 36.9 2.3 977 1,095 -10.8
Proposals 44 57 50 -22.8 -12.0 648 751 -13.7
Alberta 669 669 785 0.0 -14.8 8,633 9,636 -10.4
Bankruptcies 385 375 489 2.7 -21.3 5,075 6,324 -19.8
Proposals 284 294 296 -3.4 -4.1 3,558 3,312 7.4
British Columbia 1,024 992 963 3.2 6.3 11,632 11,956 -2.7
Bankruptcies 586 578 624 1.4 -6.1 7,217 7,775 -7.2
Proposals 438 414 339 5.8 29.2 4,415 4,181 5.6
Northwest Territories 8 5 4 60.0 100.0 51 47 8.5
Bankruptcies 6 4 2 50.0 200.0 29 31 -6.5
Proposals 2 1 2 100.0 0.0 22 16 37.5
Yukon 2 3 4 -33.3 -50.0 39 25 56.0
Bankruptcies 2 3 2 -33.3 0.0 24 20 20.0
Proposals 0 0 2 -- -100.0 15 5 200.0
Nunavut 0 1 1 -100.0 -100.0 3 2 50.0
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 9,757 9,528 9,249 2.4 5.5 117,877 121,424 -2.9
Bankruptcies 5,802 5,602 5,625 3.6 3.1 69,797 74,589 -6.4
Proposals 3,955 3,926 3,624 0.7 9.1 48,080 46,835 2.7
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
July 2013 June 2013 July 2012 Jun. 2013 to Jul. 2013 Jul. 2012 to Jul. 2013 07-31-2013 07-31-2012 % Change
Newfoundland and Labrador 2 1 2 100.0 0.0 25 18 38.9
Bankruptcies 0 1 1 -100.0 -100.0 17 15 13.3
Proposals 2 0 1 -- 100.0 8 3 166.7
Prince Edward Island 0 1 1 -100.0 -100.0 12 23 -47.8
Bankruptcies 0 0 1 -- -100.0 10 19 -47.4
Proposals 0 1 0 -100.0 -- 2 4 -50.0
Nova Scotia 6 11 9 -45.5 -33.3 110 93 18.3
Bankruptcies 5 8 7 -37.5 -28.6 85 78 9.0
Proposals 1 3 2 -66.7 -50.0 25 15 66.7
New Brunswick 5 10 6 -50.0 -16.7 70 64 9.4
Bankruptcies 5 7 4 -28.6 25.0 53 51 3.9
Proposals 0 3 2 -100.0 -100.0 17 13 30.8
Quebec 176 165 141 6.7 24.8 2,111 2,074 1.8
Bankruptcies 138 112 113 23.2 22.1 1,542 1,524 1.2
Proposals 38 53 28 -28.3 35.7 569 550 3.5
Ontario 89 96 96 -7.3 -7.3 1,269 1,481 -14.3
Bankruptcies 71 65 77 9.2 -7.8 980 1,142 -14.2
Proposals 18 31 19 -41.9 -5.3 289 339 -14.7
Manitoba 7 3 4 133.3 75.0 53 68 -22.1
Bankruptcies 3 3 4 0.0 -25.0 43 54 -20.4
Proposals 4 0 0 -- -- 10 14 -28.6
Saskatchewan 12 12 9 0.0 33.3 123 145 -15.2
Bankruptcies 8 8 2 0.0 300.0 74 97 -23.7
Proposals 4 4 7 0.0 -42.9 49 48 2.1
Alberta 9 12 19 -25.0 -52.6 224 347 -35.4
Bankruptcies 9 9 16 0.0 -43.8 160 266 -39.8
Proposals 0 3 3 -100.0 -100.0 64 81 -21.0
British Columbia 13 22 28 -40.9 -53.6 265 259 2.3
Bankruptcies 8 17 21 -52.9 -61.9 187 202 -7.4
Proposals 5 5 7 0.0 -28.6 78 57 36.8
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 1 100.0
Bankruptcies 0 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 1 -- -100.0 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 319 333 316 -4.2 0.9 4,264 4,575 -6.8
Bankruptcies 247 230 247 7.4 0.0 3,153 3,450 -8.6
Proposals 72 103 69 -30.1 4.3 1,111 1,125 -1.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
July 2013 June 2013 July 2012 Jun. 2013 to Jul. 2013 Jul. 2012 to Jul. 2013 07-31-2013 07-31-2012 % Change
Agriculture, Forestry, Fishing and Hunting 9 6 5 50.0 80.0 104 126 -17.5
Bankruptcies 6 6 4 0.0 50.0 75 98 -23.5
Proposals 3 0 1 -- 200.0 29 28 3.6
Mining and Oil and Gas Extraction 1 3 6 -66.7 -83.3 39 25 56.0
Bankruptcies 0 1 6 -100.0 -100.0 23 19 21.1
Proposals 1 2 0 -50.0 -- 16 6 166.7
Utilities 0 0 4 -- -100.0 11 19 -42.1
Bankruptcies 0 0 1 -- -100.0 5 13 -61.5
Proposals 0 0 3 -- -100.0 6 6 0.0
Construction 60 57 66 5.3 -9.1 755 822 -8.2
Bankruptcies 46 42 50 9.5 -8.0 557 621 -10.3
Proposals 14 15 16 -6.7 -12.5 198 201 -1.5
Manufacturing 25 34 34 -26.5 -26.5 420 488 -13.9
Bankruptcies 21 21 26 0.0 -19.2 289 353 -18.1
Proposals 4 13 8 -69.2 -50.0 131 135 -3.0
Wholesale Trade 16 11 14 45.5 14.3 226 246 -8.1
Bankruptcies 16 5 12 220.0 33.3 161 186 -13.4
Proposals 0 6 2 -100.0 -100.0 65 60 8.3
Retail Trade 35 39 29 -10.3 20.7 541 613 -11.7
Bankruptcies 28 28 21 0.0 33.3 421 463 -9.1
Proposals 7 11 8 -36.4 -12.5 120 150 -20.0
Transportation and Warehousing 16 20 15 -20.0 6.7 258 263 -1.9
Bankruptcies 12 14 14 -14.3 -14.3 205 208 -1.4
Proposals 4 6 1 -33.3 300.0 53 55 -3.6
Information and Cultural Industries 6 5 5 20.0 20.0 64 66 -3.0
Bankruptcies 5 4 3 25.0 66.7 55 53 3.8
Proposals 1 1 2 0.0 -50.0 9 13 -30.8
Finance and Insurance 3 4 7 -25.0 -57.1 74 87 -14.9
Bankruptcies 3 3 7 0.0 -57.1 61 68 -10.3
Proposals 0 1 0 -100.0 -- 13 19 -31.6
Real Estate and Rental and Leasing 14 15 9 -6.7 55.6 130 115 13.0
Bankruptcies 11 14 7 -21.4 57.1 100 77 29.9
Proposals 3 1 2 200.0 50.0 30 38 -21.1
Professional, Scientific and Technical Services 22 20 21 10.0 4.8 290 295 -1.7
Bankruptcies 16 10 14 60.0 14.3 215 209 2.9
Proposals 6 10 7 -40.0 -14.3 75 86 -12.8
Management of Companies and Enterprises 5 9 5 -44.4 0.0 66 61 8.2
Bankruptcies 4 6 5 -33.3 -20.0 48 50 -4.0
Proposals 1 3 0 -66.7 -- 18 11 63.6
Administrative and Support, Waste Management and Remediation Services 19 19 15 0.0 26.7 199 241 -17.4
Bankruptcies 14 15 10 -6.7 40.0 151 176 -14.2
Proposals 5 4 5 25.0 0.0 48 65 -26.2
Educational Services 5 5 4 0.0 25.0 32 35 -8.6
Bankruptcies 5 2 4 150.0 25.0 23 30 -23.3
Proposals 0 3 0 -100.0 -- 9 5 80.0
Health Care and Social Assistance 3 6 6 -50.0 -50.0 55 58 -5.2
Bankruptcies 2 5 4 -60.0 -50.0 45 43 4.7
Proposals 1 1 2 0.0 -50.0 10 15 -33.3
Arts, Entertainment and Recreation 10 5 6 100.0 66.7 86 79 8.9
Bankruptcies 8 4 4 100.0 100.0 70 66 6.1
Proposals 2 1 2 100.0 0.0 16 13 23.1
Accommodation and Food Services 51 56 42 -8.9 21.4 653 666 -2.0
Bankruptcies 38 37 36 2.7 5.6 455 491 -7.3
Proposals 13 19 6 -31.6 116.7 198 175 13.1
Other Services (except Public Administration) 19 19 23 0.0 -17.4 261 264 -1.1
Bankruptcies 12 13 19 -7.7 -36.8 194 222 -12.6
Proposals 7 6 4 16.7 75.0 67 42 59.5
Public Administration 0 0 0 -- -- 0 6 -100.0
Bankruptcies 0 0 0 -- -- 0 4 -100.0
Proposals 0 0 0 -- -- 0 2 -100.0
Total 319 333 316 -4.2 0.9 4,264 4,575 -6.8
Bankruptcies 247 230 247 7.4 0.0 3,153 3,450 -8.6
Proposals 72 103 69 -30.1 4.3 1,111 1,125 -1.2
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