Insolvency Statistics in Canada—June 2015

Detailed report

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Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

Definitions

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
Business:
Any commercial entity or organization other than an individual, or an individual who has incurred 50 percent or more of total liabilities as a result of operating a business.
Bankruptcy:
The state of a consumer or a business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposal:
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.
NAICS:
North American Industry Classification System.
Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
June 2015May 2015June 2014May 2015
to
June 2015
June 2014
to
June 2015
06-30-201506-30-2014% Change
Newfoundland and Labrador17915313417.033.61,6651,6123.3
Bankruptcies1451321219.819.81,4001,438-2.6
Proposals34211361.9161.526517452.3
Prince Edward Island687158-4.217.278971310.7
Bankruptcies385144-25.5-13.65234936.1
Proposals30201450.0114.326622020.9
Nova Scotia50342444518.613.05,3465,0296.3
Bankruptcies34930630314.115.23,8053,5248.0
Proposals15411814230.58.51,5411,5052.4
New Brunswick394435333-9.418.34,4354,2314.8
Bankruptcies263270231-2.613.93,0052,9641.4
Proposals131165102-20.628.41,4301,26712.9
Quebec3,7753,8493,321-1.913.745,51042,7366.5
Bankruptcies2,2332,2812,038-2.19.626,22226,389-0.6
Proposals1,5421,5681,283-1.720.219,28816,34718.0
Ontario3,5593,4683,4512.63.141,62143,612-4.6
Bankruptcies1,6571,6481,5910.54.119,57721,325-8.2
Proposals1,9021,8201,8604.52.322,04422,287-1.1
Manitoba1871821712.79.42,0541,9216.9
Bankruptcies125122992.526.31,3301,2347.8
Proposals6260723.3-13.97246875.4
Saskatchewan1891891580.019.62,1111,9607.7
Bankruptcies9610288-5.99.11,1371,187-4.2
Proposals9387706.932.997477326.0
Alberta8778527122.923.28,8178,3026.2
Bankruptcies40934833217.523.23,9974,312-7.3
Proposals468504380-7.123.24,8203,99020.8
British Columbia1,0799781,03110.34.711,68011,811-1.1
Bankruptcies53648759310.1-9.66,1087,027-13.1
Proposals54349143810.624.05,5724,78416.5
Northwest Territories625200.020.04256-25.0
Bankruptcies413300.033.32333-30.3
Proposals212100.00.01923-17.4
Yukon32150.0200.037355.7
Bankruptcies101--0.01724-29.2
Proposals2200.0--201181.8
Nunavut100----660.0
Bankruptcies100----440.0
Proposals000----220.0
Canada10,82010,6059,8202.010.2124,113122,0241.7
Bankruptcies5,8575,7485,4441.97.667,14869,954-4.0
Proposals4,9634,8574,3762.213.456,96552,0709.4
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
June 2015May 2015June 2014May 2015
to
June 2015
June 2014
to
June 2015
06-30-201506-30-2014% Change
Newfoundland and Labrador17615213215.833.31,6381,5793.7
Bankruptcies1421311198.419.31,3751,416-2.9
Proposals34211361.9161.526316361.3
Prince Edward Island676953-2.926.477069011.6
Bankruptcies384940-22.4-5.05094766.9
Proposals29201345.0123.126121422.0
Nova Scotia48641444117.410.25,2544,9356.5
Bankruptcies33929730114.112.63,7433,4598.2
Proposals14711714025.65.01,5111,4762.4
New Brunswick392427325-8.220.64,3584,1395.3
Bankruptcies262263224-0.417.02,9512,8922.0
Proposals130164101-20.728.71,4071,24712.8
Quebec3,5853,6853,155-2.713.643,15440,4996.6
Bankruptcies2,0922,1581,918-3.19.124,51724,727-0.8
Proposals1,4931,5271,237-2.220.718,63715,77218.2
Ontario3,4703,3743,3692.83.040,46542,488-4.8
Bankruptcies1,5901,5751,5321.03.818,67120,462-8.8
Proposals1,8801,7991,8374.52.321,79422,026-1.1
Manitoba1841801662.210.82,0181,8469.3
Bankruptcies122122940.029.81,3051,17111.4
Proposals6258726.9-13.97136755.6
Saskatchewan178184143-3.324.52,0221,83010.5
Bankruptcies889981-11.18.61,0791,110-2.8
Proposals9085625.945.294372031.0
Alberta8598407082.321.38,6678,1446.4
Bankruptcies39333832916.319.53,8874,197-7.4
Proposals466502379-7.223.04,7803,94721.1
British Columbia1,0569661,0039.35.311,46911,560-0.8
Bankruptcies5174805687.7-9.05,9516,839-13.0
Proposals53948643510.923.95,5184,72116.9
Northwest Territories625200.020.04256-25.0
Bankruptcies413300.033.32333-30.3
Proposals212100.00.01923-17.4
Yukon32150.0200.036352.9
Bankruptcies101--0.01724-29.2
Proposals2200.0--191172.7
Nunavut100----56-16.7
Bankruptcies100----34-25.0
Proposals000----220.0
Canada10,46310,2959,5011.610.1119,898117,8071.8
Bankruptcies5,5895,5135,2101.47.364,03166,810-4.2
Proposals4,8744,7824,2911.913.655,86750,9979.5
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
June 2015May 2015June 2014May 2015
to
June 2015
June 2014
to
June 2015
06-30-201506-30-2014% Change
Newfoundland and Labrador312200.050.02733-18.2
Bankruptcies312200.050.0252213.6
Proposals000----211-81.8
Prince Edward Island125-50.0-80.01923-17.4
Bankruptcies024-100.0-100.01417-17.6
Proposals101--0.056-16.7
Nova Scotia1710470.0325.09294-2.1
Bankruptcies109211.1400.06265-4.6
Proposals712600.0250.030293.4
New Brunswick288-75.0-75.07792-16.3
Bankruptcies177-85.7-85.75472-25.0
Proposals1110.00.0232015.0
Quebec19016416615.914.52,3562,2375.3
Bankruptcies14112312014.617.51,7051,6622.6
Proposals49414619.56.565157513.2
Ontario899482-5.38.51,1561,1242.8
Bankruptcies677359-8.213.69068635.0
Proposals2221234.8-4.3250261-4.2
Manitoba32550.0-40.03675-52.0
Bankruptcies305---40.02563-60.3
Proposals020-100.0--1112-8.3
Saskatchewan11515120.0-26.789130-31.5
Bankruptcies837166.714.35877-24.7
Proposals32850.0-62.53153-41.5
Alberta1812450.0350.0150158-5.1
Bankruptcies1610360.0433.3110115-4.3
Proposals2210.0100.04043-7.0
British Columbia23122891.7-17.9211251-15.9
Bankruptcies19725171.4-24.0157188-16.5
Proposals453-20.033.35463-14.3
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----10--
Bankruptcies000----00--
Proposals000----10--
Nunavut000----10--
Bankruptcies000----10--
Proposals000----00--
Canada35731031915.211.94,2154,2170.0
Bankruptcies26823523414.014.53,1173,144-0.9
Proposals89758518.74.71,0981,0732.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
SectorVolume% Change12-Month Period Ending
June 2015May 2015June 2014May 2015
to
June 2015
June 2014
to
June 2015
06-30-201506-30-2014% Change
Agriculture, Forestry, Fishing and Hunting5612-16.7-58.386130-33.8
Bankruptcies126-50.0-83.34489-50.6
Proposals4460.0-33.342412.4
Mining and Oil and Gas Extraction32250.050.038380.0
Bankruptcies32050.0--211816.7
Proposals002---100.01720-15.0
Utilities1100.0--131030.0
Bankruptcies1100.0--10666.7
Proposals000----34-25.0
Construction71586322.412.7729759-4.0
Bankruptcies54384842.112.5527567-7.1
Proposals172015-15.013.32021925.2
Manufacturing283033-6.7-15.2384402-4.5
Bankruptcies182325-21.7-28.0266291-8.6
Proposals107842.925.01181116.3
Wholesale Trade151715-11.80.0224234-4.3
Bankruptcies10147-28.642.91631592.5
Proposals53866.7-37.56175-18.7
Retail Trade36293924.1-7.7501503-0.4
Bankruptcies2725288.0-3.6375402-6.7
Proposals9411125.0-18.212610124.8
Transportation and Warehousing21161731.323.527523318.0
Bankruptcies1491355.67.71831820.5
Proposals7740.075.0925180.4
Information and Cultural Industries75140.0600.0804963.3
Bankruptcies621200.0500.0553366.7
Proposals130-66.7--251656.3
Finance and Insurance87414.3100.0916833.8
Bankruptcies723250.0133.3705137.3
Proposals151-80.00.0211723.5
Real Estate and Rental and Leasing1291733.3-29.4120154-22.1
Bankruptcies1271371.4-7.795112-15.2
Proposals024-100.0-100.02542-40.5
Professional, Scientific and Technical Services2827183.755.63012961.7
Bankruptcies202314-13.042.924321712.0
Proposals844100.0100.05879-26.6
Management of Companies and Enterprises724250.075.06263-1.6
Bankruptcies524150.025.04446-4.3
Proposals200----18175.9
Administrative and Support, Waste Management and Remediation Services18132338.5-21.72112024.5
Bankruptcies15111736.4-11.816114015.0
Proposals32650.0-50.05062-19.4
Educational Services2250.0-60.04050-20.0
Bankruptcies2250.0-60.03247-31.9
Proposals000----83166.7
Health Care and Social Assistance1054100.0150.0937819.2
Bankruptcies5520.0150.0695721.1
Proposals502--150.0242114.3
Arts, Entertainment and Recreation371-57.1200.07984-6.0
Bankruptcies271-71.4100.05971-16.9
Proposals100----201353.8
Accommodation and Food Services68534728.344.768361810.5
Bankruptcies54453620.050.053945917.4
Proposals1481175.027.3144159-9.4
Other Services (except Public Administration)142014-30.00.0204245-16.7
Bankruptcies121411-14.39.1160196-18.4
Proposals263-66.7-33.34449-10.2
Public Administration010-100.0--110.0
Bankruptcies010-100.0--110.0
Proposals000----00--
Total35731031915.211.94,2154,2170.0
Bankruptcies26823523414.014.53,1173,144-0.9
Proposals89758518.74.71,0981,0732.3