Insolvency Statistics in Canada—February 2015

Highlights

Read the report Insolvency Statistics in Canada—February 2015

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 10.9 percent in February 2015 from the previous month. Bankruptcies increased by 10.4 percent and proposals increased by 11.6 percent.

The total number of insolvencies in February 2015 was 1.5 percent higher than the total number of insolvencies in February 2014. Consumer insolvencies increased by 1.5 percent, while business insolvencies increased by 2.0 percent.

For the 12-month period ending February 28, 2015, the total number of insolvencies decreased by 0.3 percent compared with the 12-month period ending February 28, 2014.

Consumer insolvencies for the 12-month period ending February 28, 2015, decreased by 0.3 percent compared with the 12-month period ending February 28, 2014. Consumer bankruptcies decreased by 6.2 percent, while consumer proposals increased by 7.8 percent. The proportion of proposals in consumer insolvencies increased to 45.7 percent during the 12-month period ending February 28, 2015, up from 42.2 percent during the 12-month period ending February 28, 2014. For the 12-month period ending February 28, 2015, consumer insolvency filings accounted for 96.5 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending February 28, 2015, decreased by 0.5 percent compared with the 12-month period ending February 28, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were agriculture, forestry, fishing and hunting; manufacturing; and construction, whereas transportation and warehousing; administrative and support, waste management and remediation services; and health care and social assistance experienced the biggest increase in insolvencies.

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

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