Insolvency Statistics in Canada—July 2017

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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

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.
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.
Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
NAICS:
North American Industry Classification System.
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.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
July 2017 June 2017 July 2016 June 2017
to
July 2017
July 2016
to
July 2017
07-31-2017 07-31-2016 % Change
Newfoundland and Labrador 174 217 180 -19.8 -3.3 2,430 2,213 9.8
Bankruptcies 92 126 130 -27.0 -29.2 1,430 1,575 -9.2
Proposals 82 91 50 -9.9 64.0 1,000 638 56.7
Prince Edward Island 52 60 64 -13.3 -18.8 740 807 -8.3
Bankruptcies 29 42 35 -31.0 -17.1 460 499 -7.8
Proposals 23 18 29 27.8 -20.7 280 308 -9.1
Nova Scotia 508 483 507 5.2 0.2 6,004 5,691 5.5
Bankruptcies 344 348 367 -1.1 -6.3 4,105 4,041 1.6
Proposals 164 135 140 21.5 17.1 1,899 1,650 15.1
New Brunswick 337 381 317 -11.5 6.3 4,484 4,372 2.6
Bankruptcies 197 223 216 -11.7 -8.8 2,723 2,900 -6.1
Proposals 140 158 101 -11.4 38.6 1,761 1,472 19.6
Quebec 3,205 3,724 3,265 -13.9 -1.8 44,036 45,359 -2.9
Bankruptcies 1,809 2,057 1,863 -12.1 -2.9 24,887 26,063 -4.5
Proposals 1,396 1,667 1,402 -16.3 -0.4 19,149 19,296 -0.8
Ontario 2,974 3,368 3,091 -11.7 -3.8 39,405 40,900 -3.7
Bankruptcies 1,183 1,402 1,307 -15.6 -9.5 16,544 18,160 -8.9
Proposals 1,791 1,966 1,784 -8.9 0.4 22,861 22,740 0.5
Manitoba 228 241 185 -5.4 23.2 2,638 2,433 8.4
Bankruptcies 122 119 110 2.5 10.9 1,404 1,371 2.4
Proposals 106 122 75 -13.1 41.3 1,234 1,062 16.2
Saskatchewan 245 267 240 -8.2 2.1 3,191 2,757 15.7
Bankruptcies 97 130 119 -25.4 -18.5 1,482 1,439 3.0
Proposals 148 137 121 8.0 22.3 1,709 1,318 29.7
Alberta 1,011 1,175 1,037 -14.0 -2.5 13,335 12,180 9.5
Bankruptcies 333 447 388 -25.5 -14.2 5,291 5,148 2.8
Proposals 678 728 649 -6.9 4.5 8,044 7,032 14.4
British Columbia 784 928 870 -15.5 -9.9 10,246 11,618 -11.8
Bankruptcies 318 396 414 -19.7 -23.2 4,429 5,370 -17.5
Proposals 466 532 456 -12.4 2.2 5,817 6,248 -6.9
Northwest Territories 3 2 3 50.0 0.0 63 57 10.5
Bankruptcies 3 2 2 50.0 50.0 35 33 6.1
Proposals 0 0 1 n/a -100.0 28 24 16.7
Yukon 4 2 3 100.0 33.3 39 50 -22.0
Bankruptcies 1 2 3 -50.0 -66.7 18 28 -35.7
Proposals 3 0 0 n/a n/a 21 22 -4.5
Nunavut 0 0 0 n/a n/a 3 10 -70.0
Bankruptcies 0 0 0 n/a n/a 1 4 -75.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 9,525 10,848 9,762 -12.2 -2.4 126,614 128,447 -1.4
Bankruptcies 4,528 5,294 4,954 -14.5 -8.6 62,809 66,631 -5.7
Proposals 4,997 5,554 4,808 -10.0 3.9 63,805 61,816 3.2
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
July 2017 June 2017 July 2016 June 2017
to
July 2017
July 2016
to
July 2017
07-31-2017 07-31-2016 % Change
Newfoundland and Labrador 169 214 179 -21.0 -5.6 2,391 2,185 9.4
Bankruptcies 88 123 129 -28.5 -31.8 1,401 1,555 -9.9
Proposals 81 91 50 -11.0 62.0 990 630 57.1
Prince Edward Island 52 58 63 -10.3 -17.5 727 793 -8.3
Bankruptcies 29 40 34 -27.5 -14.7 450 490 -8.2
Proposals 23 18 29 27.8 -20.7 277 303 -8.6
Nova Scotia 501 477 499 5.0 0.4 5,946 5,613 5.9
Bankruptcies 338 342 360 -1.2 -6.1 4,055 3,973 2.1
Proposals 163 135 139 20.7 17.3 1,891 1,640 15.3
New Brunswick 333 374 310 -11.0 7.4 4,429 4,298 3.0
Bankruptcies 193 217 212 -11.1 -9.0 2,675 2,843 -5.9
Proposals 140 157 98 -10.8 42.9 1,754 1,455 20.5
Quebec 3,074 3,542 3,128 -13.2 -1.7 41,949 43,136 -2.8
Bankruptcies 1,710 1,916 1,755 -10.8 -2.6 23,310 24,365 -4.3
Proposals 1,364 1,626 1,373 -16.1 -0.7 18,639 18,771 -0.7
Ontario 2,893 3,315 3,023 -12.7 -4.3 38,516 39,907 -3.5
Bankruptcies 1,120 1,364 1,258 -17.9 -11.0 15,885 17,413 -8.8
Proposals 1,773 1,951 1,765 -9.1 0.5 22,631 22,494 0.6
Manitoba 228 238 182 -4.2 25.3 2,595 2,382 8.9
Bankruptcies 122 117 107 4.3 14.0 1,370 1,334 2.7
Proposals 106 121 75 -12.4 41.3 1,225 1,048 16.9
Saskatchewan 239 257 230 -7.0 3.9 3,071 2,620 17.2
Bankruptcies 92 123 112 -25.2 -17.9 1,391 1,338 4.0
Proposals 147 134 118 9.7 24.6 1,680 1,282 31.0
Alberta 1,004 1,157 1,026 -13.2 -2.1 13,146 12,045 9.1
Bankruptcies 328 435 381 -24.6 -13.9 5,154 5,055 2.0
Proposals 676 722 645 -6.4 4.8 7,992 6,990 14.3
British Columbia 772 918 857 -15.9 -9.9 10,072 11,382 -11.5
Bankruptcies 307 387 404 -20.7 -24.0 4,289 5,198 -17.5
Proposals 465 531 453 -12.4 2.6 5,783 6,184 -6.5
Northwest Territories 3 2 3 50.0 0.0 62 57 8.8
Bankruptcies 3 2 2 50.0 50.0 34 33 3.0
Proposals 0 0 1 n/a -100.0 28 24 16.7
Yukon 4 2 3 100.0 33.3 39 50 -22.0
Bankruptcies 1 2 3 -50.0 -66.7 18 28 -35.7
Proposals 3 0 0 n/a n/a 21 22 -4.5
Nunavut 0 0 0 n/a n/a 3 9 -66.7
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 9,272 10,554 9,503 -12.1 -2.4 122,946 124,477 -1.2
Bankruptcies 4,331 5,068 4,757 -14.5 -9.0 60,033 63,628 -5.7
Proposals 4,941 5,486 4,746 -9.9 4.1 62,913 60,849 3.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2017 June 2017 July 2016 June 2017
to
July 2017
July 2016
to
July 2017
07-31-2017 07-31-2016 % Change
Newfoundland and Labrador 5 3 1 66.7 400.0 39 28 39.3
Bankruptcies 4 3 1 33.3 300.0 29 20 45.0
Proposals 1 0 0 n/a n/a 10 8 25.0
Prince Edward Island 0 2 1 -100.0 -100.0 13 14 -7.1
Bankruptcies 0 2 1 -100.0 -100.0 10 9 11.1
Proposals 0 0 0 n/a n/a 3 5 -40.0
Nova Scotia 7 6 8 16.7 -12.5 58 78 -25.6
Bankruptcies 6 6 7 0.0 -14.3 50 68 -26.5
Proposals 1 0 1 n/a 0.0 8 10 -20.0
New Brunswick 4 7 7 -42.9 -42.9 55 74 -25.7
Bankruptcies 4 6 4 -33.3 0.0 48 57 -15.8
Proposals 0 1 3 -100.0 -100.0 7 17 -58.8
Quebec 131 182 137 -28.0 -4.4 2,087 2,223 -6.1
Bankruptcies 99 141 108 -29.8 -8.3 1,577 1,698 -7.1
Proposals 32 41 29 -22.0 10.3 510 525 -2.9
Ontario 81 53 68 52.8 19.1 889 993 -10.5
Bankruptcies 63 38 49 65.8 28.6 659 747 -11.8
Proposals 18 15 19 20.0 -5.3 230 246 -6.5
Manitoba 0 3 3 -100.0 -100.0 43 51 -15.7
Bankruptcies 0 2 3 -100.0 -100.0 34 37 -8.1
Proposals 0 1 0 -100.0 n/a 9 14 -35.7
Saskatchewan 6 10 10 -40.0 -40.0 120 137 -12.4
Bankruptcies 5 7 7 -28.6 -28.6 91 101 -9.9
Proposals 1 3 3 -66.7 -66.7 29 36 -19.4
Alberta 7 18 11 -61.1 -36.4 189 135 40.0
Bankruptcies 5 12 7 -58.3 -28.6 137 93 47.3
Proposals 2 6 4 -66.7 -50.0 52 42 23.8
British Columbia 12 10 13 20.0 -7.7 174 236 -26.3
Bankruptcies 11 9 10 22.2 10.0 140 172 -18.6
Proposals 1 1 3 0.0 -66.7 34 64 -46.9
Northwest Territoires 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 253 294 259 -13.9 -2.3 3,668 3,970 -7.6
Bankruptcies 197 226 197 -12.8 0.0 2,776 3,003 -7.6
Proposals 56 68 62 -17.6 -9.7 892 967 -7.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
July 2017 June 2017 July 2016 June 2017
to
July 2017
July 2016
to
July 2017
07-31-2017 07-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 2 2 5 0.0 -60.0 79 76 3.9
Bankruptcies 2 2 3 0.0 -33.3 58 53 9.4
Proposals 0 0 2 n/a -100.0 21 23 -8.7
Mining and Oil and Gas Extraction 4 2 7 100.0 -42.9 67 51 31.4
Bankruptcies 1 2 4 -50.0 -75.0 45 37 21.6
Proposals 3 0 3 n/a 0.0 22 14 57.1
Utilities 1 0 0 n/a n/a 9 8 12.5
Bankruptcies 1 0 0 n/a n/a 7 3 133.3
Proposals 0 0 0 n/a n/a 2 5 -60.0
Construction 35 59 59 -40.7 -40.7 662 740 -10.5
Bankruptcies 26 47 42 -44.7 -38.1 482 555 -13.2
Proposals 9 12 17 -25.0 -47.1 180 185 -2.7
Manufacturing 21 30 19 -30.0 10.5 315 344 -8.4
Bankruptcies 15 23 12 -34.8 25.0 227 257 -11.7
Proposals 6 7 7 -14.3 -14.3 88 87 1.1
Wholesale Trade 11 17 16 -35.3 -31.3 176 176 0.0
Bankruptcies 9 14 13 -35.7 -30.8 134 135 -0.7
Proposals 2 3 3 -33.3 -33.3 42 41 2.4
Retail Trade 25 30 27 -16.7 -7.4 397 516 -23.1
Bankruptcies 24 23 22 4.3 9.1 298 386 -22.8
Proposals 1 7 5 -85.7 -80.0 99 130 -23.8
Transportation and Warehousing 18 16 14 12.5 28.6 242 213 13.6
Bankruptcies 14 14 12 0.0 16.7 186 164 13.4
Proposals 4 2 2 100.0 100.0 56 49 14.3
Information and Cultural Industries 4 5 5 -20.0 -20.0 69 69 0.0
Bankruptcies 4 3 5 33.3 -20.0 49 60 -18.3
Proposals 0 2 0 -100.0 n/a 20 9 122.2
Finance and Insurance 9 5 3 80.0 200.0 66 66 0.0
Bankruptcies 4 5 3 -20.0 33.3 58 51 13.7
Proposals 5 0 0 n/a n/a 8 15 -46.7
Real Estate and Rental and Leasing 14 14 9 0.0 55.6 148 156 -5.1
Bankruptcies 11 10 8 10.0 37.5 106 108 -1.9
Proposals 3 4 1 -25.0 200.0 42 48 -12.5
Professional, Scientific and Technical Services 19 23 20 -17.4 -5.0 266 298 -10.7
Bankruptcies 19 17 13 11.8 46.2 211 224 -5.8
Proposals 0 6 7 -100.0 -100.0 55 74 -25.7
Management of Companies and Enterprises 5 10 1 -50.0 400.0 84 60 40.0
Bankruptcies 4 7 1 -42.9 300.0 59 48 22.9
Proposals 1 3 0 -66.7 n/a 25 12 108.3
Administrative and Support, Waste Management and Remediation Services 10 8 13 25.0 -23.1 182 184 -1.1
Bankruptcies 7 6 9 16.7 -22.2 142 131 8.4
Proposals 3 2 4 50.0 -25.0 40 53 -24.5
Educational Services 1 2 0 -50.0 n/a 40 34 17.6
Bankruptcies 0 2 0 -100.0 n/a 32 22 45.5
Proposals 1 0 0 n/a n/a 8 12 -33.3
Health Care and Social Assistance 7 9 5 -22.2 40.0 80 72 11.1
Bankruptcies 7 6 3 16.7 133.3 63 55 14.5
Proposals 0 3 2 -100.0 -100.0 17 17 0.0
Arts, Entertainment and Recreation 5 5 2 0.0 150.0 71 76 -6.6
Bankruptcies 2 3 2 -33.3 0.0 50 61 -18.0
Proposals 3 2 0 50.0 n/a 21 15 40.0
Accommodation and Food Services 46 44 42 4.5 9.5 543 643 -15.6
Bankruptcies 33 30 34 10.0 -2.9 426 497 -14.3
Proposals 13 14 8 -7.1 62.5 117 146 -19.9
Other Services (except Public Administration) 16 13 12 23.1 33.3 167 183 -8.7
Bankruptcies 14 12 11 16.7 27.3 139 151 -7.9
Proposals 2 1 1 100.0 100.0 28 32 -12.5
Public Administration 0 0 0 n/a n/a 5 5 0.0
Bankruptcies 0 0 0 n/a n/a 4 5 -20.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Total 253 294 259 -13.9 -2.3 3,668 3,970 -7.6
Bankruptcies 197 226 197 -12.8 0.0 2,776 3,003 -7.6
Proposals 56 68 62 -17.6 -9.7 892 967 -7.8
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