Insolvency Statistics in Canada—August 2014

Highlights

Read the report Insolvency Statistics in Canada—August 2014

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 7.9 percent in August 2014 from the previous month. Bankruptcies decreased by 8.9 percent and proposals decreased by 6.6 percent.

The total number of insolvencies in August 2014 was 5.5 percent lower than the total number of insolvencies in August 2013. Consumer insolvencies decreased by 5.4 percent, while business insolvencies decreased by 7.5 percent.

For the 12-month period ending August 31, 2014, the total number of insolvencies decreased by 0.3 percent compared with the 12-month period ending August 31, 2013.

Consumer insolvencies for the 12-month period ending August 31, 2014, decreased by 0.3 percent compared with the 12-month period ending August 31, 2013. Consumer bankruptcies decreased by 5.5 percent, while consumer proposals increased by 7.3 percent. The proportion of proposals in consumer insolvencies increased to 44.0 percent during the 12-month period ending August 31, 2014, up from 40.9 percent during the 12-month period ending August 31, 2013. For the 12-month period ending August 31, 2014, consumer insolvency filings accounted for 96.6 percent of total insolvencies filings.

Business insolvencies for the 12-month period ending August 31, 2014, decreased by 1.7 percent compared with the 12-month period ending August 31, 2013. The two sectors that registered the biggest decrease in the number of insolvencies were other services (except public administration) and manufacturing, whereas health care and social assistance experienced the biggest increase in insolvencies.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in August 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—August 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—August 2014

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