Highlights
Read the report Insolvency Statistics in Canada—January 2017.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 1.8 percent in January 2017 from the previous month. Bankruptcies decreased by 6.3 percent and proposals increased by 10.4 percent.
The total number of insolvencies in January 2017 was 2.2 percent higher than the total number of insolvencies in January 2016. Consumer insolvencies increased by 2.8 percent, while business insolvencies decreased by 17.6 percent.
For the 12-month period ending January 31, 2017, the total number of insolvencies increased by 3.4 percent compared with the 12-month period ending January 31, 2016.
Consumer insolvencies for the 12-month period ending January 31, 2017, increased by 3.7 percent compared with the 12-month period ending January 31, 2016. Consumer bankruptcies increased by 0.1 percent, while consumer proposals increased by 7.6 percent. The proportion of proposals in consumer insolvencies increased to 49.8 percent during the 12-month period ending January 31, 2017, up from 48.0 percent during the 12-month period ending January 31, 2016. For the 12-month period ending January 31, 2017, consumer insolvency filings accounted for 97.1 percent of the total insolvency filings.
Business insolvencies for the 12-month period ending January 31, 2017, decreased by 6.5 percent compared with the 12-month period ending January 31, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were manufacturing and construction. Mining and oil and gas extraction; and transportation and warehousing experienced the biggest increase in insolvencies.
Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in January 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.
Read the report Insolvency Statistics in Canada—January 2017.