Insolvency Statistics in Canada—August 2016

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Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

Definitions

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
Business:
Any commercial entity or organization other than an individual, or an individual who has incurred 50 percent or more of total liabilities as a result of operating a business.
Bankruptcy:
The state of a consumer or a business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposal:
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.
NAICS:
North American Industry Classification System.
Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
August 2016July 2016August 2015July 2016
to
August 2016
August 2015
to
August 2016
08-31-201608-31-2015% Change
Newfoundland and Labrador21318015618.336.52,2701,72231.8
Bankruptcies1341301263.16.31,5831,4499.2
Proposals79503058.0163.3687273151.6
Prince Edward Island6864616.311.58147794.5
Bankruptcies50353942.928.25105031.4
Proposals182922-37.9-18.230427610.1
Nova Scotia5335073815.139.95,8435,28910.5
Bankruptcies363367260-1.139.64,1443,74810.6
Proposals17014012121.440.51,6991,54110.3
New Brunswick41031738529.36.54,3974,466-1.5
Bankruptcies25521624918.12.42,9062,992-2.9
Proposals15510113653.514.01,4911,4741.2
Quebec3,5463,2653,3198.66.845,58645,740-0.3
Bankruptcies2,0441,8631,9739.73.626,13426,215-0.3
Proposals1,5021,4021,3467.111.619,45219,525-0.4
Ontario3,2773,0913,1036.05.641,07441,378-0.7
Bankruptcies1,3781,3071,4345.4-3.918,10419,359-6.5
Proposals1,8991,7841,6696.413.822,97022,0194.3
Manitoba20818516112.429.22,4802,09518.4
Bankruptcies1271109815.529.61,4001,3434.2
Proposals8175638.028.61,08075243.6
Saskatchewan28224019617.543.92,8432,16731.2
Bankruptcies13811910216.035.31,4751,16027.2
Proposals1441219419.053.21,3681,00735.8
Alberta1,0991,0377566.045.412,5239,10437.6
Bankruptcies44938833715.733.25,2604,08928.6
Proposals6506494190.255.17,2635,01544.8
British Columbia829870955-4.7-13.211,49211,768-2.3
Bankruptcies352414449-15.0-21.65,2736,010-12.3
Proposals4774565064.6-5.76,2195,7588.0
Northwest Territories833166.7166.7624247.6
Bankruptcies2210.0100.0342254.5
Proposals612500.0200.0282040.0
Yukon635100.020.0513737.8
Bankruptcies133-66.7-66.7261662.5
Proposals502--150.0252119.0
Nunavut000----105100.0
Bankruptcies000----440.0
Proposals000----61500.0
Canada10,4799,7629,4817.310.5129,445124,5923.9
Bankruptcies5,2934,9545,0716.84.466,85366,910-0.1
Proposals5,1864,8084,4107.917.662,59257,6828.5
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
August 2016July 2016August 2015July 2016
to
August 2016
August 2015
to
August 2016
08-31-201608-31-2015% Change
Newfoundland and Labrador21117915317.937.92,2431,69432.4
Bankruptcies1321291242.36.51,5631,4249.8
Proposals79502958.0172.4680270151.9
Prince Edward Island6863617.911.58007625.0
Bankruptcies50343947.128.25014902.2
Proposals182922-37.9-18.22992729.9
Nova Scotia5254993785.238.95,7605,20410.7
Bankruptcies356360257-1.138.54,0723,68710.4
Proposals16913912121.639.71,6881,51711.3
New Brunswick40731038131.36.84,3244,384-1.4
Bankruptcies25221224618.92.42,8492,933-2.9
Proposals1559813558.214.81,4751,4511.7
Quebec3,3733,1283,1907.85.743,31943,423-0.2
Bankruptcies1,9161,7551,8699.22.524,41224,527-0.5
Proposals1,4571,3731,3216.110.318,90718,8960.1
Ontario3,2103,0233,0266.26.140,09140,215-0.3
Bankruptcies1,3291,2581,3765.6-3.417,36618,459-5.9
Proposals1,8811,7651,6506.614.022,72521,7564.5
Manitoba20518215512.632.32,4322,05618.3
Bankruptcies1241079315.933.31,3651,3153.8
Proposals8175628.030.61,06774144.0
Saskatchewan27323018418.748.42,7092,07130.8
Bankruptcies1291129215.240.21,3751,09225.9
Proposals1441189222.056.51,33497936.3
Alberta1,0861,0267435.846.212,3888,96338.2
Bankruptcies43938133315.231.85,1613,98829.4
Proposals6476454100.357.87,2274,97545.3
British Columbia812857942-5.3-13.811,25211,578-2.8
Bankruptcies342404438-15.3-21.95,1025,868-13.1
Proposals4704535043.8-6.76,1505,7107.7
Northwest Territories833166.7166.7624247.6
Bankruptcies2210.0100.0342254.5
Proposals612500.0200.0282040.0
Yukon635100.020.0513641.7
Bankruptcies133-66.7-66.7261662.5
Proposals502--150.0252025.0
Nunavut000----94125.0
Bankruptcies000----330.0
Proposals000----61500.0
Canada10,1849,5039,2217.210.4125,440120,4324.2
Bankruptcies5,0724,7574,8716.64.163,82963,8240.0
Proposals5,1124,7464,3507.717.561,61156,6088.8
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
August 2016July 2016August 2015July 2016
to
August 2016
August 2015
to
August 2016
08-31-201608-31-2015% Change
Newfoundland and Labrador213100.0-33.32728-3.6
Bankruptcies212100.00.02025-20.0
Proposals001---100.073133.3
Prince Edward Island010-100.0--1417-17.6
Bankruptcies010-100.0--913-30.8
Proposals000----5425.0
Nova Scotia8830.0166.78385-2.4
Bankruptcies7730.0133.3726118.0
Proposals1100.0--1124-54.2
New Brunswick374-57.1-25.07382-11.0
Bankruptcies343-25.00.05759-3.4
Proposals031-100.0-100.01623-30.4
Quebec17313712926.334.12,2672,317-2.2
Bankruptcies12810810418.523.11,7221,6882.0
Proposals45292555.280.0545629-13.4
Ontario676877-1.5-13.09831,163-15.5
Bankruptcies4949580.0-15.5738900-18.0
Proposals181919-5.3-5.3245263-6.8
Manitoba3360.0-50.0483923.1
Bankruptcies3350.0-40.0352825.0
Proposals001---100.0131118.2
Saskatchewan91012-10.0-25.01349639.6
Bankruptcies971028.6-10.01006847.1
Proposals032-100.0-100.0342821.4
Alberta13111318.20.0135141-4.3
Bankruptcies107442.9150.099101-2.0
Proposals349-25.0-66.73640-10.0
British Columbia17131330.830.824019026.3
Bankruptcies1010110.0-9.117114220.4
Proposals732133.3250.0694843.8
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----01-100.0
Bankruptcies000----00--
Proposals000----01-100.0
Nunavut000----110.0
Bankruptcies000----110.0
Proposals000----00--
Canada29525926013.913.54,0054,160-3.7
Bankruptcies22119720012.210.53,0243,086-2.0
Proposals74626019.423.39811,074-8.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sectorVolume% Change12-Month Period Ending
August 2016July 2016August 2015July 2016
to
August 2016
August 2015
to
August 2016
08-31-201608-31-2015% Change
Agriculture, Forestry, Fishing and Hunting252-60.00.07679-3.8
Bankruptcies131-66.70.0534226.2
Proposals121-50.00.02337-37.8
Mining and Oil and Gas Extraction7720.0250.0563751.4
Bankruptcies141-75.00.0372176.2
Proposals631100.0500.0191618.8
Utilities000----813-38.5
Bankruptcies000----39-66.7
Proposals000----5425.0
Construction545943-8.525.67517224.0
Bankruptcies364232-14.312.55595246.7
Proposals1817115.963.6192198-3.0
Manufacturing22192415.8-8.3342379-9.8
Bankruptcies17121841.7-5.6256259-1.2
Proposals576-28.6-16.786120-28.3
Wholesale Trade151614-6.37.1177218-18.8
Bankruptcies12139-7.733.3138155-11.0
Proposals3350.0-40.03963-38.1
Retail Trade30273211.1-6.35144924.5
Bankruptcies25222913.6-13.83823771.3
Proposals5530.066.713211514.8
Transportation and Warehousing1414120.016.7215260-17.3
Bankruptcies11127-8.357.11681670.6
Proposals32550.0-40.04793-49.5
Information and Cultural Industries353-40.00.06976-9.2
Bankruptcies352-40.050.0615315.1
Proposals001---100.0823-65.2
Finance and Insurance633100.0100.06983-16.9
Bankruptcies633100.0100.05463-14.3
Proposals000----1520-25.0
Real Estate and Rental and Leasing1591166.736.416012528.0
Bankruptcies138862.562.511310111.9
Proposals213100.0-33.3472495.8
Professional, Scientific and Technical Services172025-15.0-32.0290311-6.8
Bankruptcies121317-7.7-29.4219248-11.7
Proposals578-28.6-37.5716312.7
Management of Companies and Enterprises711600.0600.0665715.8
Bankruptcies311200.0200.0503928.2
Proposals400----1618-11.1
Administrative and Support, Waste Management and Remediation Services17131330.830.8188213-11.7
Bankruptcies129933.333.3134159-15.7
Proposals54425.025.054540.0
Educational Services402--100.036360.0
Bankruptcies202--0.02231-29.0
Proposals200----145180.0
Health Care and Social Assistance65620.00.07297-25.8
Bankruptcies634100.050.05767-14.9
Proposals022-100.0-100.01530-50.0
Arts, Entertainment and Recreation625200.020.07780-3.8
Bankruptcies424100.00.061593.4
Proposals201--100.01621-23.8
Accommodation and Food Services53424826.210.4648677-4.3
Bankruptcies42344023.55.0499548-8.9
Proposals118837.537.514912915.5
Other Services (except Public Administration)16121333.323.1186203-8.4
Bankruptcies14111227.316.7153162-5.6
Proposals211100.0100.03341-19.5
Public Administration101--0.052150.0
Bankruptcies101--0.052150.0
Proposals000----00--
Total29525926013.913.54,0054,160-3.7
Bankruptcies22119720012.210.53,0243,086-2.0
Proposals74626019.423.39811,074-8.7