Insolvency Statistics in Canada—October 2014

Highlights

Read the report Insolvency Statistics in Canada—October 2014

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.0 percent in October 2014 from the previous month. Bankruptcies increased by 6.6 percent and proposals increased by 9.6 percent.

The total number of insolvencies in October 2014 was 0.7 percent lower than the total number of insolvencies in October 2013. Consumer insolvencies decreased by 1.0 percent, while business insolvencies increased by 7.2 percent.

For the 12-month period ending October 31, 2014, the total number of insolvencies decreased by 0.9 percent compared with the 12-month period ending October 31, 2013.

Consumer insolvencies for the 12-month period ending October 31, 2014, decreased by 0.9 percent compared with the 12-month period ending October 31, 2013. Consumer bankruptcies decreased by 6.4 percent, while consumer proposals increased by 6.9 percent. The proportion of proposals in consumer insolvencies increased to 44.7 percent during the 12-month period ending October 31, 2014, up from 41.4 percent during the 12-month period ending October 31, 2013. For the 12-month period ending October 31, 2014, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending October 31, 2014, decreased by 1.7 percent compared with the 12-month period ending October 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.

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

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