Insolvency Statistics in Canada—July 2016

Highlights

Read the report Insolvency Statistics in Canada—July 2016.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 15.8 percent in July 2016 from the previous month. Bankruptcies decreased by 15.8 percent and proposals decreased by 15.9 percent.

The total number of insolvencies in July 2016 was 8.3 percent lower than the total number of insolvencies in July 2015. Consumer insolvencies decreased by 8.1 percent, while business insolvencies decreased by 17.3 percent.

For the 12-month period ending July 31, 2016, the total number of insolvencies increased by 3.1 percent compared with the 12-month period ending July 31, 2015.

Consumer insolvencies for the 12-month period ending July 31, 2016, increased by 3.5 percent compared with the 12-month period ending July 31, 2015. Consumer bankruptcies decreased by 0.4 percent, while consumer proposals increased by 7.8 percent. The proportion of proposals in consumer insolvencies increased to 48.9 percent during the 12-month period ending July 31, 2016, up from 46.9 percent during the 12-month period ending July 31, 2015. For the 12-month period ending July 31, 2016, consumer insolvency filings accounted for 96.9 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending July 31, 2016, decreased by 5.7 percent compared with the 12-month period ending July 31, 2015. The two sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; and accommodation and food services. Real estate and rental and leasing; and retail trade experienced the biggest increase in insolvencies.

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

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