Insolvency Statistics in Canada—July 2015

Highlights

Read the report Insolvency Statistics in Canada—July 2015

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 1.6 percent in July 2015 from the previous month. Bankruptcies decreased by 5.4 percent and proposals increased by 3.0 percent.

The total number of insolvencies in July 2015 was 4.1 percent higher than the total number of insolvencies in July 2014. Consumer insolvencies increased by 4.3 percent, while business insolvencies decreased by 1.9 percent.

For the 12–month period ending July 31, 2015, the total number of insolvencies increased by 1.9 percent compared with the 12–month period ending July 31, 2014.

Consumer insolvencies for the 12–month period ending July 31, 2015, increased by 2.0 percent compared with the 12–month period ending July 31, 2014. Consumer bankruptcies decreased by 3.8 percent, while consumer proposals increased by 9.5 percent. The proportion of proposals in consumer insolvencies increased to 46.9 percent during the 12–month period ending July 31, 2015, up from 43.7 percent during the 12–month period ending July 31, 2014. For the 12–month period ending July 31, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12–month period ending July 31, 2015, decreased by 0.2 percent compared with the 12–month period ending July 31, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were agriculture, forestry, fishing and hunting; manufacturing; and other services (except public administration). Accommodation and food services; transportation and warehousing; and information and cultural industries experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in July 2015. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—July 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—July 2015

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