Insolvency Statistics in Canada—January 2015

Highlights

Read the report Insolvency Statistics in Canada—January 2015

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.0 percent in January 2015 from the previous month. Bankruptcies decreased by 9.8 percent and proposals increased by 5.6 percent.

The total number of insolvencies in January 2015 was 0.7 percent lower than the total number of insolvencies in January 2014. Consumer insolvencies decreased by 0.7 percent, while business insolvencies decreased by 0.9 percent.

For the 12-month period ending January 31, 2015, the total number of insolvencies decreased by 0.2 percent compared with the 12-month period ending January 31, 2014.

Consumer insolvencies for the 12-month period ending January 31, 2015, decreased by 0.1 percent compared with the 12-month period ending January 31, 2014. Consumer bankruptcies decreased by 6.0 percent, while consumer proposals increased by 8.0 percent. The proportion of proposals in consumer insolvencies increased to 45.4 percent during the 12-month period ending January 31, 2015, up from 41.9 percent during the 12-month period ending January 31, 2014. For the 12-month period ending January 31, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending January 31, 2015, decreased by 1.6 percent compared with the 12-month period ending January 31, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were construction; manufacturing; and agriculture, forestry, fishing and hunting, whereas transportation and warehousing; administrative and support, waste management and remediation services; and health care and social assistance experienced the biggest increase in insolvencies.

Eight Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in January 2015. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—January 2015 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—January 2015

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