Insolvency Statistics in Canada—May 2015

Highlights

Read the report Insolvency Statistics in Canada—May 2015

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 7.0 percent in May 2015 from the previous month. Bankruptcies decreased by 8.2 percent and proposals decreased by 5.6 percent.

The total number of insolvencies in May 2015 was 4.9 percent lower than the total number of insolvencies in May 2014. Consumer insolvencies decreased by 4.5 percent, while business insolvencies decreased by 16.4 percent.

For the 12-month period ending May 31, 2015, the total number of insolvencies increased by 0.9 percent compared with the 12-month period ending May 31, 2014.

Consumer insolvencies for the 12-month period ending May 31, 2015, increased by 0.9 percent compared with the 12-month period ending May 31, 2014. Consumer bankruptcies decreased by 5.3 percent, while consumer proposals increased by 9.2 percent. The proportion of proposals in consumer insolvencies increased to 46.5 percent during the 12-month period ending May 31, 2015, up from 43.0 percent during the 12-month period ending May 31, 2014. For the 12-month period ending May 31, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending May 31, 2015, decreased by 1.3 percent compared with the 12-month period ending May 31, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were other services (except public administration); construction; and agriculture, forestry, fishing and hunting. Transportation and warehousing; accommodation and food services; and information and cultural industries experienced the biggest increase in insolvencies.

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

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