Insolvency Statistics in Canada—August 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
Volume % Change 12-Month Period Ending
August 2013 July 2013 August 2012 July 2013 to August 2013 August 2012 to August 2013 08-31-2013 08-31-2012 % Change
Newfoundland and Labrador 135 156 166 -13.5 -18.7 1,733 1,868 -7.2
Bankruptcies 113 140 155 -19.3 -27.1 1,587 1,724 -7.9
Proposals 22 16 11 37.5 100.0 146 144 1.4
Prince Edward Island 68 73 45 -6.8 51.1 639 608 5.1
Bankruptcies 46 53 37 -13.2 24.3 484 461 5.0
Proposals 22 20 8 10.0 175.0 155 147 5.4
Nova Scotia 433 395 364 9.6 19.0 4,534 4,526 0.2
Bankruptcies 294 264 255 11.4 15.3 3,229 3,451 -6.4
Proposals 139 131 109 6.1 27.5 1,305 1,075 21.4
New Brunswick 378 369 360 2.4 5.0 3,884 3,932 -1.2
Bankruptcies 269 267 266 0.7 1.1 2,879 3,023 -4.8
Proposals 109 102 94 6.9 16.0 1,005 909 10.6
Quebec 3,408 3,368 3,090 1.2 10.3 40,726 37,964 7.3
Bankruptcies 2,215 2,219 2,156 -0.2 2.7 26,505 26,450 0.2
Proposals 1,193 1,149 934 3.8 27.7 14,221 11,514 23.5
Ontario 3,628 3,681 3,967 -1.4 -8.5 46,205 50,511 -8.5
Bankruptcies 1,846 1,906 1,972 -3.1 -6.4 23,191 25,394 -8.7
Proposals 1,782 1,775 1,995 0.4 -10.7 23,014 25,117 -8.4
Manitoba 176 164 147 7.3 19.7 1,910 2,008 -4.9
Bankruptcies 109 107 103 1.9 5.8 1,277 1,363 -6.3
Proposals 67 57 44 17.5 52.3 633 645 -1.9
Saskatchewan 160 145 172 10.3 -7.0 1,736 1,990 -12.8
Bankruptcies 98 97 100 1.0 -2.0 1,049 1,173 -10.6
Proposals 62 48 72 29.2 -13.9 687 817 -15.9
Alberta 650 678 753 -4.1 -13.7 8,754 9,854 -11.2
Bankruptcies 386 394 464 -2.0 -16.8 5,157 6,433 -19.8
Proposals 264 284 289 -7.0 -8.7 3,597 3,421 5.1
British Columbia 929 1,037 1,008 -10.4 -7.8 11,818 12,196 -3.1
Bankruptcies 530 594 627 -10.8 -15.5 7,307 7,885 -7.3
Proposals 399 443 381 -9.9 4.7 4,511 4,311 4.6
Northwest Territories 2 8 3 -75.0 -33.3 50 45 11.1
Bankruptcies 2 6 1 -66.7 100.0 30 28 7.1
Proposals 0 2 2 -100.0 -100.0 20 17 17.6
Yukon 2 2 3 0.0 -33.3 40 28 42.9
Bankruptcies 1 2 1 -50.0 0.0 26 21 23.8
Proposals 1 0 2 -- -50.0 14 7 100.0
Nunavut 1 0 0 -- -- 4 3 33.3
Bankruptcies 1 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,970 10,076 10,078 -1.1 -1.1 122,033 125,533 -2.8
Bankruptcies 5,910 6,049 6,137 -2.3 -3.7 72,723 77,407 -6.1
Proposals 4,060 4,027 3,941 0.8 3.0 49,310 48,126 2.5
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
August 2013 July 2013 August 2012 July 2013 to August 2013 August 2012 to August 2013 08-31-2013 08-31-2012 % Change
Newfoundland and Labrador 125 154 165 -18.8 -24.2 1,699 1,850 -8.2
Bankruptcies 109 140 154 -22.1 -29.2 1,567 1,709 -8.3
Proposals 16 14 11 14.3 45.5 132 141 -6.4
Prince Edward Island 64 73 44 -12.3 45.5 624 585 6.7
Bankruptcies 44 53 36 -17.0 22.2 473 442 7.0
Proposals 20 20 8 0.0 150.0 151 143 5.6
Nova Scotia 419 389 357 7.7 17.4 4,417 4,434 -0.4
Bankruptcies 283 259 251 9.3 12.7 3,137 3,374 -7.0
Proposals 136 130 106 4.6 28.3 1,280 1,060 20.8
New Brunswick 370 364 354 1.6 4.5 3,812 3,866 -1.4
Bankruptcies 265 262 263 1.1 0.8 2,825 2,972 -4.9
Proposals 105 102 91 2.9 15.4 987 894 10.4
Quebec 3,254 3,192 2,942 1.9 10.6 38,609 35,891 7.6
Bankruptcies 2,097 2,081 2,044 0.8 2.6 24,957 24,930 0.1
Proposals 1,157 1,111 898 4.1 28.8 13,652 10,961 24.6
Ontario 3,532 3,592 3,857 -1.7 -8.4 44,950 49,057 -8.4
Bankruptcies 1,761 1,835 1,888 -4.0 -6.7 22,210 24,281 -8.5
Proposals 1,771 1,757 1,969 0.8 -10.1 22,740 24,776 -8.2
Manitoba 166 157 145 5.7 14.5 1,849 1,942 -4.8
Bankruptcies 99 104 101 -4.8 -2.0 1,226 1,311 -6.5
Proposals 67 53 44 26.4 52.3 623 631 -1.3
Saskatchewan 153 133 156 15.0 -1.9 1,622 1,845 -12.1
Bankruptcies 94 89 90 5.6 4.4 981 1,080 -9.2
Proposals 59 44 66 34.1 -10.6 641 765 -16.2
Alberta 637 669 739 -4.8 -13.8 8,531 9,521 -10.4
Bankruptcies 379 385 454 -1.6 -16.5 5,000 6,183 -19.1
Proposals 258 284 285 -9.2 -9.5 3,531 3,338 5.8
British Columbia 911 1,024 981 -11.0 -7.1 11,562 11,928 -3.1
Bankruptcies 519 586 610 -11.4 -14.9 7,126 7,680 -7.2
Proposals 392 438 371 -10.5 5.7 4,436 4,248 4.4
Northwest Territories 2 8 3 -75.0 -33.3 50 44 13.6
Bankruptcies 2 6 1 -66.7 100.0 30 28 7.1
Proposals 0 2 2 -100.0 -100.0 20 16 25.0
Yukon 2 2 3 0.0 -33.3 38 27 40.7
Bankruptcies 1 2 1 -50.0 0.0 24 20 20.0
Proposals 1 0 2 -- -50.0 14 7 100.0
Nunavut 1 0 0 -- -- 4 2 100.0
Bankruptcies 1 0 0 -- -- 2 0 --
Proposals 0 0 0 -- -- 2 2 0.0
Canada 9,636 9,757 9,746 -1.2 -1.1 117,767 120,992 -2.7
Bankruptcies 5,654 5,802 5,893 -2.6 -4.1 69,558 74,010 -6.0
Proposals 3,982 3,955 3,853 0.7 3.3 48,209 46,982 2.6
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
August 2013 July 2013 August 2012 July 2013 to August 2013 August 2012 to August 2013 08-31-2013 08-31-2012 % Change
Newfoundland and Labrador 10 2 1 400.0 900.0 34 18 88.9
Bankruptcies 4 0 1 -- 300.0 20 15 33.3
Proposals 6 2 0 200.0 -- 14 3 366.7
Prince Edward Island 4 0 1 -- 300.0 15 23 -34.8
Bankruptcies 2 0 1 -- 100.0 11 19 -42.1
Proposals 2 0 0 -- -- 4 4 0.0
Nova Scotia 14 6 7 133.3 100.0 117 92 27.2
Bankruptcies 11 5 4 120.0 175.0 92 77 19.5
Proposals 3 1 3 200.0 0.0 25 15 66.7
New Brunswick 8 5 6 60.0 33.3 72 66 9.1
Bankruptcies 4 5 3 -20.0 33.3 54 51 5.9
Proposals 4 0 3 -- 33.3 18 15 20.0
Quebec 154 176 148 -12.5 4.1 2,117 2,073 2.1
Bankruptcies 118 138 112 -14.5 5.4 1,548 1,520 1.8
Proposals 36 38 36 -5.3 0.0 569 553 2.9
Ontario 96 89 110 7.9 -12.7 1,255 1,454 -13.7
Bankruptcies 85 71 84 19.7 1.2 981 1,113 -11.9
Proposals 11 18 26 -38.9 -57.7 274 341 -19.6
Manitoba 10 7 2 42.9 400.0 61 66 -7.6
Bankruptcies 10 3 2 233.3 400.0 51 52 -1.9
Proposals 0 4 0 -100.0 -- 10 14 -28.6
Saskatchewan 7 12 16 -41.7 -56.3 114 145 -21.4
Bankruptcies 4 8 10 -50.0 -60.0 68 93 -26.9
Proposals 3 4 6 -25.0 -50.0 46 52 -11.5
Alberta 13 9 14 44.4 -7.1 223 333 -33.0
Bankruptcies 7 9 10 -22.2 -30.0 157 250 -37.2
Proposals 6 0 4 -- 50.0 66 83 -20.5
British Columbia 18 13 27 38.5 -33.3 256 268 -4.5
Bankruptcies 11 8 17 37.5 -35.3 181 205 -11.7
Proposals 7 5 10 40.0 -30.0 75 63 19.0
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 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 334 319 332 4.7 0.6 4,266 4,541 -6.1
Bankruptcies 256 247 244 3.6 4.9 3,165 3,397 -6.8
Proposals 78 72 88 8.3 -11.4 1,101 1,144 -3.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
August 2013 July 2013 August 2012 July 2013 to August 2013 August 2012 to August 2013 08-31-2013 08-31-2012 % Change
Agriculture, Forestry, Fishing and Hunting 23 9 12 155.6 91.7 115 124 -7.3
Bankruptcies 12 6 8 100.0 50.0 79 95 -16.8
Proposals 11 3 4 266.7 175.0 36 29 24.1
Mining and Oil and Gas Extraction 2 1 3 100.0 -33.3 38 27 40.7
Bankruptcies 0 0 2 -- -100.0 21 20 5.0
Proposals 2 1 1 100.0 100.0 17 7 142.9
Utilities 0 0 1 -- -100.0 10 18 -44.4
Bankruptcies 0 0 0 -- -- 5 12 -58.3
Proposals 0 0 1 -- -100.0 5 6 -16.7
Construction 65 60 61 8.3 6.6 759 830 -8.6
Bankruptcies 50 46 41 8.7 22.0 566 616 -8.1
Proposals 15 14 20 7.1 -25.0 193 214 -9.8
Manufacturing 35 25 32 40.0 9.4 423 479 -11.7
Bankruptcies 24 21 17 14.3 41.2 296 340 -12.9
Proposals 11 4 15 175.0 -26.7 127 139 -8.6
Wholesale Trade 20 16 18 25.0 11.1 228 242 -5.8
Bankruptcies 18 16 14 12.5 28.6 165 181 -8.8
Proposals 2 0 4 -- -50.0 63 61 3.3
Retail Trade 35 35 50 0.0 -30.0 526 613 -14.2
Bankruptcies 33 28 43 17.9 -23.3 411 461 -10.8
Proposals 2 7 7 -71.4 -71.4 115 152 -24.3
Transportation and Warehousing 16 16 15 0.0 6.7 259 248 4.4
Bankruptcies 13 12 11 8.3 18.2 207 194 6.7
Proposals 3 4 4 -25.0 -25.0 52 54 -3.7
Information and Cultural Industries 0 6 2 -100.0 -100.0 62 63 -1.6
Bankruptcies 0 5 1 -100.0 -100.0 54 53 1.9
Proposals 0 1 1 -100.0 -100.0 8 10 -20.0
Finance and Insurance 6 3 5 100.0 20.0 75 81 -7.4
Bankruptcies 6 3 3 100.0 100.0 64 63 1.6
Proposals 0 0 2 -- -100.0 11 18 -38.9
Real Estate and Rental and Leasing 7 14 7 -50.0 0.0 130 110 18.2
Bankruptcies 6 11 6 -45.5 0.0 100 75 33.3
Proposals 1 3 1 -66.7 0.0 30 35 -14.3
Professional, Scientific and Technical Services 19 22 18 -13.6 5.6 291 298 -2.3
Bankruptcies 10 16 12 -37.5 -16.7 213 209 1.9
Proposals 9 6 6 50.0 50.0 78 89 -12.4
Management of Companies and Enterprises 10 5 3 100.0 233.3 73 58 25.9
Bankruptcies 8 4 3 100.0 166.7 53 48 10.4
Proposals 2 1 0 100.0 -- 20 10 100.0
Administrative and Support, Waste Management and Remediation Services 18 19 11 -5.3 63.6 206 234 -12.0
Bankruptcies 13 14 8 -7.1 62.5 156 168 -7.1
Proposals 5 5 3 0.0 66.7 50 66 -24.2
Educational Services 3 5 0 -40.0 -- 35 32 9.4
Bankruptcies 3 5 0 -40.0 -- 26 27 -3.7
Proposals 0 0 0 -- -- 9 5 80.0
Health Care and Social Assistance 2 3 7 -33.3 -71.4 50 61 -18.0
Bankruptcies 2 2 6 0.0 -66.7 41 46 -10.9
Proposals 0 1 1 -100.0 -100.0 9 15 -40.0
Arts, Entertainment and Recreation 6 10 3 -40.0 100.0 89 76 17.1
Bankruptcies 6 8 3 -25.0 100.0 73 65 12.3
Proposals 0 2 0 -100.0 -- 16 11 45.5
Accommodation and Food Services 44 51 55 -13.7 -20.0 642 673 -4.6
Bankruptcies 32 38 40 -15.8 -20.0 447 491 -9.0
Proposals 12 13 15 -7.7 -20.0 195 182 7.1
Other Services (except Public Administration) 23 19 29 21.1 -20.7 255 269 -5.2
Bankruptcies 20 12 26 66.7 -23.1 188 230 -18.3
Proposals 3 7 3 -57.1 0.0 67 39 71.8
Public Administration 0 0 0 -- -- 0 5 -100.0
Bankruptcies 0 0 0 -- -- 0 3 -100.0
Proposals 0 0 0 -- -- 0 2 -100.0
Total 334 319 332 4.7 0.6 4,266 4,541 -6.1
Bankruptcies 256 247 244 3.6 4.9 3,165 3,397 -6.8
Proposals 78 72 88 8.3 -11.4 1,101 1,144 -3.8
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