Insolvency Statistics in Canada—September 2015

Highlights

Read the report Insolvency Statistics in Canada—September 2015.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 12.1 percent in September 2015 from the previous month. Bankruptcies increased by 12.1 percent and proposals increased by 12.0 percent.

The total number of insolvencies in September 2015 was 2.4 percent higher than the total number of insolvencies in September 2014. Consumer insolvencies increased by 2.0 percent, while business insolvencies increased by 15.2 percent.

For the 12-month period ending September 30, 2015, the total number of insolvencies increased by 2.4 percent compared with the 12-month period ending September 30, 2014.

Consumer insolvencies for the 12-month period ending September 30, 2015, increased by 2.5 percent compared with the 12-month period ending September 30, 2014. Consumer bankruptcies decreased by 2.9 percent, while consumer proposals increased by 9.2 percent. The proportion of proposals in consumer insolvencies increased to 47.2 percent during the 12-month period ending September 30, 2015, up from 44.3 percent during the 12-month period ending September 30, 2014. For the 12-month period ending September 30, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending September 30, 2015, increased by 0.8 percent compared with the 12-month period ending September 30, 2014. The three sectors that registered the biggest increase in the number of insolvencies were accommodation and food services; transportation and warehousing; and construction. Other services (except public administration); agriculture, forestry, fishing and hunting; and real estate and rental and leasing experienced the biggest decrease in insolvencies.

No Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in September 2015. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—September 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—September 2015.

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