Insolvency Statistics in Canada—March 2015

Highlights

Read the report Insolvency Statistics in Canada—March 2015

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 17.0 percent in March 2015 from the previous month. Bankruptcies increased by 16.3 percent and proposals increased by 17.7 percent.

The total number of insolvencies in March 2015 was 9.6 percent higher than the total number of insolvencies in March 2014. Consumer insolvencies increased by 9.7 percent, while business insolvencies increased by 6.3 percent.

For the 12-month period ending March 31, 2015, the total number of insolvencies increased by 0.4 percent compared with the 12-month period ending March 31, 2014.

Consumer insolvencies for the 12-month period ending March 31, 2015, increased by 0.4 percent compared with the 12-month period ending March 31, 2014. Consumer bankruptcies decreased by 5.7 percent, while consumer proposals increased by 8.6 percent. The proportion of proposals in consumer insolvencies increased to 46.0 percent during the 12-month period ending March 31, 2015, up from 42.5 percent during the 12-month period ending March 31, 2014. For the 12-month period ending March 31, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2015, decreased by 0.2 percent compared with the 12-month period ending March 31, 2014. The two sectors that registered the biggest decrease in the number of insolvencies were other services (except public administration); and agriculture, forestry, fishing and hunting. Administrative and support, waste management and remediation services; and transportation and warehousing experienced the biggest increase in insolvencies.

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

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