Insolvency Statistics in Canada—July 2014

Highlights

Read the report Insolvency Statistics in Canada—July 2014

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 4.2 percent in July 2014 from the previous month. Bankruptcies increased by 4.3 percent and proposals increased by 4.0 percent.

The total number of insolvencies in July 2014 was 1.5 percent higher than the total number of insolvencies in July 2013. Consumer insolvencies increased by 1.6 percent, while business insolvencies remained unchanged.

For the 12-month period ending , the total number of insolvencies was unchanged compared with the 12-month period ending .

Consumer insolvencies for the 12-month period ending, increased by 0.1 percent compared with the 12-month period ending . Consumer bankruptcies decreased by 4.8 percent, while consumer proposals increased by 7.2 percent. The proportion of proposals in consumer insolvencies increased to 43.7 percent during the 12-month period ending , up from 40.8 percent during the 12-month period ending . For the 12-month period ending , 96.5 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending decreased by 1.1 percent compared with the 12-month period ending . The two sectors that registered the biggest increase in the number of insolvencies were health care and social assistance; and agriculture, forestry, fishing and hunting, whereas accommodation and food services; and retail trade experienced the biggest decrease in insolvencies.

Two Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in July 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—July 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—July 2014.

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