Insolvency Statistics in Canada—March 2016

Highlights

Read the report Insolvency Statistics in Canada—March 2016.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.8 percent in March 2016 from the previous month. Bankruptcies increased by 10.4 percent and proposals increased by 7.2 percent.

The total number of insolvencies in March 2016 was 1.8 percent higher than the total number of insolvencies in March 2015. Consumer insolvencies increased by 2.1 percent, while business insolvencies decreased by 7.2 percent.

For the 12-month period ending March 31, 2016, the total number of insolvencies increased by 2.8 percent compared with the 12-month period ending March 31, 2015.

Consumer insolvencies for the 12-month period ending March 31, 2016, increased by 3.1 percent compared with the 12-month period ending March 31, 2015. Consumer bankruptcies decreased by 1.1 percent, while consumer proposals increased by 8.1 percent. The proportion of proposals in consumer insolvencies increased to 48.2 percent during the 12-month period ending March 31, 2016, up from 46.0 percent during the 12-month period ending March 31, 2015. For the 12-month period ending March 31, 2016, consumer insolvency filings accounted for 96.8 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2016, decreased by 4.7 percent compared with the 12-month period ending March 31, 2015. The three sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; wholesale trade; and administrative and support, waste management and remediation services. Construction experienced the biggest increase in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in March 2016. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—March 2016 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—March 2016.

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