Insolvency Statistics in Canada—February 2014

Highlights

Detailed report: Insolvency Statistics in Canada—February 2014.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.5 percent in February 2014 from the previous month. Bankruptcies increased by 7.0 percent, whereas proposals increased by 10.5 percent.

The total number of insolvencies in February 2014 was 2.6 percent higher than the total number of insolvencies in February 2013. Consumer insolvencies increased by 3.2 percent, while business insolvencies decreased by 10.1 percent.

For the 12-month period ending February 28, 2014, the total number of insolvencies increased by 0.6 percent compared with the 12-month period ending February 28, 2013.

Consumer insolvencies for the 12-month period ending February 28, 2014, increased by 0.7 percent compared with the 12-month period ending February 28, 2013. Consumer bankruptcies decreased by 3.1 percent, while consumer proposals increased by 6.4 percent. The proportion of proposals in consumer insolvencies increased to 42.2 percent during the 12-month period ending February 28, 2014, up from 39.9 percent during the 12-month period ending February 28, 2013. For the 12-month period ending February 28, 2014, 96.5 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending February 28, 2014, fell by 1.2 percent compared with the 12-month period ending February 28, 2013. The two sectors that registered the biggest decrease in the number of insolvencies were construction and retail trade, whereas the professional, scientific and technical services sector experienced the biggest rise in insolvencies.

No Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in February 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—February 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Detailed report: Insolvency Statistics in Canada—February 2014.

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