Insolvency Statistics in Canada—August 2015

Highlights

Read the report Insolvency Statistics in Canada—August 2015

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 11.0 percent in August 2015 from the previous month. Bankruptcies decreased by 8.5 percent and proposals decreased by 13.7 percent.

The total number of insolvencies in August 2015 was 0.6 percent higher than the total number of insolvencies in August 2014. Consumer insolvencies increased by 1.2 percent, while business insolvencies decreased by 15.9 percent.

For the 12-month period ending August 31, 2015, the total number of insolvencies increased by 2.4 percent compared with the 12-month period ending August 31, 2014.

Consumer insolvencies for the 12-month period ending August 31, 2015, increased by 2.5 percent compared with the 12-month period ending August 31, 2014. Consumer bankruptcies decreased by 2.9 percent, while consumer proposals increased by 9.5 percent. The proportion of proposals in consumer insolvencies increased to 47.0 percent during the 12-month period ending August 31, 2015, up from 44.0 percent during the 12-month period ending August 31, 2014. For the 12-month period ending August 31, 2015, consumer insolvency filings accounted for 96.7 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending August 31, 2015, decreased by 0.8 percent compared with the 12-month period ending August 31, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were agriculture, forestry, fishing and hunting; other services (except public administration); and real estate and rental and leasing. Accommodation and food services; information and cultural industries; and transportation and warehousing experienced the biggest increase in insolvencies.

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

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