Insolvency Statistics in Canada—March 2017

Highlights

Read the report Insolvency Statistics in Canada—March 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 19.2% in March 2017 from the previous month. Bankruptcies increased by 25.6% and proposals increased by 13.7%.

The total number of insolvencies in March 2017 was 1.2% higher than the total number of insolvencies in March 2016. Consumer insolvencies increased by 1.3%, while business insolvencies decreased by 1.9%.

For the 12-month period ending March 31, 2017, the total number of insolvencies increased by 1.9% compared with the 12-month period ending March 31, 2016.

Consumer insolvencies for the 12-month period ending March 31, 2017, increased by 2.2% compared with the 12-month period ending March 31, 2016. Consumer bankruptcies decreased by 2.0%, while consumer proposals increased by 6.7%. The proportion of proposals in consumer insolvencies increased to 50.3% during the 12-month period ending March 31, 2017, up from 48.2% during the 12-month period ending March 31, 2016. For the 12-month period ending March 31, 2017, consumer insolvency filings accounted for 97.1% of the total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2017, decreased by 7.4% compared with the 12-month period ending March 31, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were accommodation and food services; and manufacturing. Transportation and warehousing; and mining and oil and gas extraction experienced the biggest increase in insolvencies.

No Companies’ Creditors Arrangement Act (CCAA) proceeding were filed with the OSB in March 2017. Note: The Insolvency Statistics in Canada 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 2017.

Date modified: