Insolvency Statistics in Canada—December 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
Dec. 2013 Nov. 2013 Dec. 2012 Nov. 2013
to
Dec. 2013
Dec. 2012
to
Dec. 2013
12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 88 147 97 -40.1 -9.3 1,710 1,769 -3.3
Bankruptcies 78 128 92 -39.1 -15.2 1,545 1,626 -5.0
Proposals 10 19 5 -47.4 100.0 165 143 15.4
Prince Edward Island 56 63 44 -11.1 27.3 640 635 0.8
Bankruptcies 34 45 38 -24.4 -10.5 458 485 -5.6
Proposals 22 18 6 22.2 266.7 182 150 21.3
Nova Scotia 319 362 252 -11.9 26.6 4,771 4,388 8.7
Bankruptcies 239 265 182 -9.8 31.3 3,379 3,307 2.2
Proposals 80 97 70 -17.5 14.3 1,392 1,081 28.8
New Brunswick 265 363 242 -27.0 9.5 4,037 3,913 3.2
Bankruptcies 190 254 189 -25.2 0.5 2,910 2,959 -1.7
Proposals 75 109 53 -31.2 41.5 1,127 954 18.1
Quebec 2,888 3,532 2,364 -18.2 22.2 42,127 37,944 11.0
Bankruptcies 1,760 2,154 1,583 -18.3 11.2 26,812 25,887 3.6
Proposals 1,128 1,378 781 -18.1 44.4 15,315 12,057 27.0
Ontario 3,160 3,725 3,315 -15.2 -4.7 45,354 48,742 -7.0
Bankruptcies 1,651 1,887 1,713 -12.5 -3.6 22,731 24,278 -6.4
Proposals 1,509 1,838 1,602 -17.9 -5.8 22,623 24,464 -7.5
Manitoba 177 170 128 4.1 38.3 1,919 1,926 -0.4
Bankruptcies 124 113 91 9.7 36.3 1,269 1,312 -3.3
Proposals 53 57 37 -7.0 43.2 650 614 5.9
Saskatchewan 125 158 119 -20.9 5.0 1,805 1,860 -3.0
Bankruptcies 77 90 69 -14.4 11.6 1,106 1,080 2.4
Proposals 48 68 50 -29.4 -4.0 699 780 -10.4
Alberta 556 629 615 -11.6 -9.6 8,452 9,514 -11.2
Bankruptcies 298 331 362 -10.0 -17.7 4,826 5,989 -19.4
Proposals 258 298 253 -13.4 2.0 3,626 3,525 2.9
British Columbia 816 1,010 813 -19.2 0.4 12,057 11,964 0.8
Bankruptcies 525 587 531 -10.6 -1.1 7,319 7,754 -5.6
Proposals 291 423 282 -31.2 3.2 4,738 4,210 12.5
Northwest Territories 5 5 5 0.0 0.0 51 54 -5.6
Bankruptcies 4 3 3 33.3 33.3 31 29 6.9
Proposals 1 2 2 -50.0 -50.0 20 25 -20.0
Yukon 3 6 1 -50.0 200.0 31 38 -18.4
Bankruptcies 2 5 1 -60.0 100.0 22 24 -8.3
Proposals 1 1 0 0.0 -- 9 14 -35.7
Nunavut 0 1 0 -100.0 -- 5 4 25.0
Bankruptcies 0 1 0 -100.0 -- 3 1 200.0
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 8,458 10,171 7,995 -16.8 5.8 122,959 122,751 0.2
Bankruptcies 4,982 5,863 4,854 -15.0 2.6 72,411 74,731 -3.1
Proposals 3,476 4,308 3,141 -19.3 10.7 50,548 48,020 5.3
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
Dec. 2013 Nov. 2013 Dec. 2012 Nov. 2013
to
Dec. 2013
Dec. 2012
to
Dec. 2013
12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 85 146 97 -41.8 -12.4 1,678 1,750 -4.1
Bankruptcies 75 127 92 -40.9 -18.5 1,524 1,611 -5.4
Proposals 10 19 5 -47.4 100.0 154 139 10.8
Prince Edward Island 53 62 43 -14.5 23.3 617 618 -0.2
Bankruptcies 32 44 37 -27.3 -13.5 440 472 -6.8
Proposals 21 18 6 16.7 250.0 177 146 21.2
Nova Scotia 314 351 247 -10.5 27.1 4,660 4,282 8.8
Bankruptcies 234 259 177 -9.7 32.2 3,295 3,221 2.3
Proposals 80 92 70 -13.0 14.3 1,365 1,061 28.7
New Brunswick 257 348 238 -26.1 8.0 3,955 3,843 2.9
Bankruptcies 182 242 185 -24.8 -1.6 2,846 2,906 -2.1
Proposals 75 106 53 -29.2 41.5 1,109 937 18.4
Quebec 2,695 3,360 2,198 -19.8 22.6 39,947 35,925 11.2
Bankruptcies 1,617 2,034 1,451 -20.5 11.4 25,221 24,399 3.4
Proposals 1,078 1,326 747 -18.7 44.3 14,726 11,526 27.8
Ontario 3,050 3,640 3,223 -16.2 -5.4 44,134 47,381 -6.9
Bankruptcies 1,565 1,818 1,638 -13.9 -4.5 21,773 23,236 -6.3
Proposals 1,485 1,822 1,585 -18.5 -6.3 22,361 24,145 -7.4
Manitoba 171 165 124 3.6 37.9 1,852 1,877 -1.3
Bankruptcies 118 111 87 6.3 35.6 1,214 1,276 -4.9
Proposals 53 54 37 -1.9 43.2 638 601 6.2
Saskatchewan 125 140 115 -10.7 8.7 1,690 1,731 -2.4
Bankruptcies 77 83 69 -7.2 11.6 1,038 1,001 3.7
Proposals 48 57 46 -15.8 4.3 652 730 -10.7
Alberta 531 619 591 -14.2 -10.2 8,258 9,202 -10.3
Bankruptcies 284 323 346 -12.1 -17.9 4,689 5,759 -18.6
Proposals 247 296 245 -16.6 0.8 3,569 3,443 3.7
British Columbia 801 986 792 -18.8 1.1 11,802 11,696 0.9
Bankruptcies 512 568 513 -9.9 -0.2 7,130 7,562 -5.7
Proposals 289 418 279 -30.9 3.6 4,672 4,134 13.0
Northwest Territories 5 5 5 0.0 0.0 51 53 -3.8
Bankruptcies 4 3 3 33.3 33.3 31 29 6.9
Proposals 1 2 2 -50.0 -50.0 20 24 -16.7
Yukon 3 6 1 -50.0 200.0 29 37 -21.6
Bankruptcies 2 5 1 -60.0 100.0 20 23 -13.0
Proposals 1 1 0 0.0 -- 9 14 -35.7
Nunavut 0 1 0 -100.0 -- 5 3 66.7
Bankruptcies 0 1 0 -100.0 -- 3 0 --
Proposals 0 0 0 -- -- 2 3 -33.3
Canada 8,090 9,829 7,674 -17.7 5.4 118,678 118,398 0.2
Bankruptcies 4,702 5,618 4,599 -16.3 2.2 69,224 71,495 -3.2
Proposals 3,388 4,211 3,075 -19.5 10.2 49,454 46,903 5.4
Table 3: Insolvencies Filed by Businesses
Volume % Change 12-Month Period Ending
Dec. 2013 Nov. 2013 Dec. 2012 Nov. 2013
to
Dec. 2013
Dec. 2012
to
Dec. 2013
12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 3 1 0 200.0 -- 32 19 68.4
Bankruptcies 3 1 0 200.0 -- 21 15 40.0
Proposals 0 0 0 -- -- 11 4 175.0
Prince Edward Island 3 1 1 200.0 200.0 23 17 35.3
Bankruptcies 2 1 1 100.0 100.0 18 13 38.5
Proposals 1 0 0 -- -- 5 4 25.0
Nova Scotia 5 11 5 -54.5 0.0 111 106 4.7
Bankruptcies 5 6 5 -16.7 0.0 84 86 -2.3
Proposals 0 5 0 -100.0 -- 27 20 35.0
New Brunswick 8 15 4 -46.7 100.0 82 70 17.1
Bankruptcies 8 12 4 -33.3 100.0 64 53 20.8
Proposals 0 3 0 -100.0 -- 18 17 5.9
Quebec 193 172 166 12.2 16.3 2,180 2,019 8.0
Bankruptcies 143 120 132 19.2 8.3 1,591 1,488 6.9
Proposals 50 52 34 -3.8 47.1 589 531 10.9
Ontario 110 85 92 29.4 19.6 1,220 1,361 -10.4
Bankruptcies 86 69 75 24.6 14.7 958 1,042 -8.1
Proposals 24 16 17 50.0 41.2 262 319 -17.9
Manitoba 6 5 4 20.0 50.0 67 49 36.7
Bankruptcies 6 2 4 200.0 50.0 55 36 52.8
Proposals 0 3 0 -100.0 -- 12 13 -7.7
Saskatchewan 0 18 4 -100.0 -100.0 115 129 -10.9
Bankruptcies 0 7 0 -100.0 -- 68 79 -13.9
Proposals 0 11 4 -100.0 -100.0 47 50 -6.0
Alberta 25 10 24 150.0 4.2 194 312 -37.8
Bankruptcies 14 8 16 75.0 -12.5 137 230 -40.4
Proposals 11 2 8 450.0 37.5 57 82 -30.5
British Columbia 15 24 21 -37.5 -28.6 255 268 -4.9
Bankruptcies 13 19 18 -31.6 -27.8 189 192 -1.6
Proposals 2 5 3 -60.0 -33.3 66 76 -13.2
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 368 342 321 7.6 14.6 4,281 4,353 -1.7
Bankruptcies 280 245 255 14.3 9.8 3,187 3,236 -1.5
Proposals 88 97 66 -9.3 33.3 1,094 1,117 -2.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Volume % Change 12-Month Period Ending
Dec. 2013 Nov. 2013 Dec. 2012 Nov. 2013
to
Dec. 2013
Dec. 2012
to
Dec. 2013
12-31-2013 12-31-2012 % Change
Agriculture, Forestry, Fishing and Hunting 13 13 6 0.0 116.7 133 115 15.7
Bankruptcies 11 8 5 37.5 120.0 93 86 8.1
Proposals 2 5 1 -60.0 100.0 40 29 37.9
Mining and Oil and Gas Extraction 2 6 7 -66.7 -71.4 33 36 -8.3
Bankruptcies 2 0 5 -- -60.0 15 27 -44.4
Proposals 0 6 2 -100.0 -100.0 18 9 100.0
Utilities 3 0 2 -- 50.0 10 20 -50.0
Bankruptcies 2 0 0 -- -- 5 11 -54.5
Proposals 1 0 2 -- -50.0 5 9 -44.4
Construction 62 57 49 8.8 26.5 748 833 -10.2
Bankruptcies 51 41 38 24.4 34.2 564 607 -7.1
Proposals 11 16 11 -31.3 0.0 184 226 -18.6
Manufacturing 39 27 30 44.4 30.0 423 435 -2.8
Bankruptcies 25 22 23 13.6 8.7 295 308 -4.2
Proposals 14 5 7 180.0 100.0 128 127 0.8
Wholesale Trade 23 20 22 15.0 4.5 231 240 -3.8
Bankruptcies 12 12 15 0.0 -20.0 161 176 -8.5
Proposals 11 8 7 37.5 57.1 70 64 9.4
Retail Trade 46 48 39 -4.2 17.9 528 571 -7.5
Bankruptcies 41 36 32 13.9 28.1 421 435 -3.2
Proposals 5 12 7 -58.3 -28.6 107 136 -21.3
Transportation and Warehousing 16 21 23 -23.8 -30.4 237 259 -8.5
Bankruptcies 15 17 21 -11.8 -28.6 187 213 -12.2
Proposals 1 4 2 -75.0 -50.0 50 46 8.7
Information and Cultural Industries 9 3 9 200.0 0.0 52 62 -16.1
Bankruptcies 6 1 8 500.0 -25.0 42 53 -20.8
Proposals 3 2 1 50.0 200.0 10 9 11.1
Finance and Insurance 5 5 7 0.0 -28.6 78 72 8.3
Bankruptcies 2 4 5 -50.0 -60.0 63 59 6.8
Proposals 3 1 2 200.0 50.0 15 13 15.4
Real Estate and Rental and Leasing 12 16 16 -25.0 -25.0 144 114 26.3
Bankruptcies 9 12 14 -25.0 -35.7 109 77 41.6
Proposals 3 4 2 -25.0 50.0 35 37 -5.4
Professional, Scientific and Technical Services 22 23 22 -4.3 0.0 304 273 11.4
Bankruptcies 17 14 19 21.4 -10.5 219 197 11.2
Proposals 5 9 3 -44.4 66.7 85 76 11.8
Management of Companies and Enterprises 6 5 4 20.0 50.0 69 65 6.2
Bankruptcies 2 3 3 -33.3 -33.3 46 51 -9.8
Proposals 4 2 1 100.0 300.0 23 14 64.3
Administrative and Support, Waste Management and Remediation Services 20 9 15 122.2 33.3 199 202 -1.5
Bankruptcies 15 7 12 114.3 25.0 148 146 1.4
Proposals 5 2 3 150.0 66.7 51 56 -8.9
Educational Services 1 1 2 0.0 -50.0 35 31 12.9
Bankruptcies 1 1 2 0.0 -50.0 26 26 0.0
Proposals 0 0 0 -- -- 9 5 80.0
Health Care and Social Assistance 7 10 4 -30.0 75.0 67 53 26.4
Bankruptcies 4 9 3 -55.6 33.3 51 44 15.9
Proposals 3 1 1 200.0 200.0 16 9 77.8
Arts, Entertainment and Recreation 7 4 6 75.0 16.7 81 77 5.2
Bankruptcies 5 3 6 66.7 -16.7 68 62 9.7
Proposals 2 1 0 100.0 -- 13 15 -13.3
Accommodation and Food Services 57 52 37 9.6 54.1 660 624 5.8
Bankruptcies 46 38 27 21.1 70.4 480 440 9.1
Proposals 11 14 10 -21.4 10.0 180 184 -2.2
Other Services (except Public Administration) 18 22 21 -18.2 -14.3 249 268 -7.1
Bankruptcies 14 17 17 -17.6 -17.6 194 216 -10.2
Proposals 4 5 4 -20.0 0.0 55 52 5.8
Public Administration 0 0 0 -- -- 0 3 -100.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Total 368 342 321 7.6 14.6 4,281 4,353 -1.7
Bankruptcies 280 245 255 14.3 9.8 3,187 3,236 -1.5
Proposals 88 97 66 -9.3 33.3 1,094 1,117 -2.1
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