Insolvency Statistics in Canada—August 2016

Highlights

Read the report Insolvency Statistics in Canada—August 2016.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.3 percent in August 2016 from the previous month. Bankruptcies increased by 6.8 percent and proposals increased by 7.9 percent.

The total number of insolvencies in August 2016 was 10.5 percent higher than the total number of insolvencies in August 2015. Consumer insolvencies increased by 10.4 percent, while business insolvencies increased by 13.5 percent.

For the 12-month period ending August 31, 2016, the total number of insolvencies increased by 3.9 percent compared with the 12-month period ending August 31, 2015.

Consumer insolvencies for the 12-month period ending August 31, 2016, increased by 4.2 percent compared with the 12-month period ending August 31, 2015. Consumer bankruptcies were essentially the same, while consumer proposals increased by 8.8 percent. The proportion of proposals in consumer insolvencies increased to 49.1percent during the 12-month period ending August 31, 2016, up from 47.0 percent during the 12-month period ending August 31, 2015. For the 12-month period ending August 31, 2016, consumer insolvency filings accounted for 96.9 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending August 31, 2016, decreased by 3.7 percent compared with the 12-month period ending August 31, 2015. The two sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; and wholesale trade. Real estate and rental and leasing; and construction experienced the biggest increase in insolvencies.

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

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