Insolvency Statistics in Canada—April 2015

Highlights

Read the report Insolvency Statistics in Canada—April 2015

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.2 percent in April 2015 from the previous month. Bankruptcies increased by 3.6 percent and proposals decreased by 10.4 percent.

The total number of insolvencies in April 2015 was 2.4 percent higher than the total number of insolvencies in April 2014. Consumer insolvencies increased by 2.6 percent, while business insolvencies decreased by 2.3 percent.

For the 12-month period ending April 30, 2015, the total number of insolvencies increased by 1.0 percent compared with the 12-month period ending April 30, 2014.

Consumer insolvencies for the 12-month period ending April 30, 2015, increased by 1.0 percent compared with the 12-month period ending April 30, 2014. Consumer bankruptcies decreased by 5.0 percent, while consumer proposals increased by 9.0 percent. The proportion of proposals in consumer insolvencies increased to 46.2 percent during the 12-month period ending April 30, 2015, up from 42.8 percent during the 12-month period ending April 30, 2014. For the 12-month period ending April 30, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending April 30, 2015, decreased by 0.3 percent compared with the 12-month period ending April 30, 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 experienced the biggest increase in insolvencies.

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

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