Insolvency Statistics in Canada—Fourth Quarter 2013

Tables

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 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.
Economic Region (ER):
Standard geographic units created for analysis of regional economic activity (Statistics Canada's geographical definitions of ERs).
Census Metropolitan Area (CMA):
Each census metropolitan area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000 (Statistics Canada's geographical definitions of CMAs).
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
Q4 2013 Q3 2013 Q4 2012 Q3 2013 to Q4 2013 Q4 2012 to Q4 2013 12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 378 414 402 -8.7 -6.0 1,710 1,769 -3.3
Bankruptcies 332 368 376 -9.8 -11.7 1,545 1,626 -5.0
Proposals 46 46 26 0.0 76.9 165 143 15.4
Prince Edward Island 170 188 171 -9.6 -0.6 640 635 0.8
Bankruptcies 114 127 136 -10.2 -16.2 458 485 -5.6
Proposals 56 61 35 -8.2 60.0 182 150 21.3
Nova Scotia 1,144 1,278 1,043 -10.5 9.7 4,771 4,388 8.7
Bankruptcies 837 864 751 -3.1 11.5 3,379 3,307 2.2
Proposals 307 414 292 -25.8 5.1 1,392 1,081 28.8
New Brunswick 1,015 1,077 883 -5.8 14.9 4,037 3,913 3.2
Bankruptcies 713 753 660 -5.3 8.0 2,910 2,959 -1.7
Proposals 302 324 223 -6.8 35.4 1,127 954 18.1
Quebec 10,430 10,275 9,569 1.5 9.0 42,127 37,944 11.0
Bankruptcies 6,428 6,687 6,363 -3.9 1.0 26,812 25,887 3.6
Proposals 4,002 3,588 3,206 11.5 24.8 15,315 12,057 27.0
Ontario 10,960 11,031 11,755 -0.6 -6.8 45,354 48,742 -7.0
Bankruptcies 5,609 5,553 5,951 1.0 -5.7 22,731 24,278 -6.4
Proposals 5,351 5,478 5,804 -2.3 -7.8 22,623 24,464 -7.5
Manitoba 500 491 469 1.8 6.6 1,919 1,926 -0.4
Bankruptcies 340 316 324 7.6 4.9 1,269 1,312 -3.3
Proposals 160 175 145 -8.6 10.3 650 614 5.9
Saskatchewan 438 468 385 -6.4 13.8 1,805 1,860 -3.0
Bankruptcies 262 300 221 -12.7 18.6 1,106 1,080 2.4
Proposals 176 168 164 4.8 7.3 699 780 -10.4
Alberta 1,916 2,017 2,221 -5.0 -13.7 8,452 9,514 -11.2
Bankruptcies 1,027 1,168 1,304 -12.1 -21.2 4,826 5,989 -19.4
Proposals 889 849 917 4.7 -3.1 3,626 3,525 2.9
British Columbia 2,935 2,918 2,772 0.6 5.9 12,057 11,964 0.8
Bankruptcies 1,795 1,715 1,786 4.7 0.5 7,319 7,754 -5.6
Proposals 1,140 1,203 986 -5.2 15.6 4,738 4,210 12.5
Northwest Territories 18 13 18 38.5 0.0 51 54 -5.6
Bankruptcies 11 9 11 22.2 0.0 31 29 6.9
Proposals 7 4 7 75.0 0.0 20 25 -20.0
Yukon 11 4 15 175.0 -26.7 31 38 -18.4
Bankruptcies 8 3 10 166.7 -20.0 22 24 -8.3
Proposals 3 1 5 200.0 -40.0 9 14 -35.7
Nunavut 2 1 1 100.0 100.0 5 4 25.0
Bankruptcies 1 1 0 0.0 -- 3 1 200.0
Proposals 1 0 1 -- 0.0 2 3 -33.3
Canada 29,917 30,175 29,704 -0.9 0.7 122,959 122,751 0.2
Bankruptcies 17,477 17,864 17,893 -2.2 -2.3 72,411 74,731 -3.1
Proposals 12,440 12,311 11,811 1.0 5.3 50,548 48,020 5.3

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Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2013 Q3 2013 Q4 2012 Q3 2013 to Q4 2013 Q4 2012 to Q4 2013 12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 372 402 399 -7.5 -6.8 1,678 1,750 -4.1
Bankruptcies 326 364 373 -10.4 -12.6 1,524 1,611 -5.4
Proposals 46 38 26 21.1 76.9 154 139 10.8
Prince Edward Island 164 180 170 -8.9 -3.5 617 618 -0.2
Bankruptcies 109 121 135 -9.9 -19.3 440 472 -6.8
Proposals 55 59 35 -6.8 57.1 177 146 21.2
Nova Scotia 1,117 1,251 1,009 -10.7 10.7 4,660 4,282 8.8
Bankruptcies 819 842 724 -2.7 13.1 3,295 3,221 2.3
Proposals 298 409 285 -27.1 4.6 1,365 1,061 28.7
New Brunswick 988 1,059 866 -6.7 14.1 3,955 3,843 2.9
Bankruptcies 690 740 645 -6.8 7.0 2,846 2,906 -2.1
Proposals 298 319 221 -6.6 34.8 1,109 937 18.4
Quebec 9,866 9,768 9,081 1.0 8.6 39,947 35,925 11.2
Bankruptcies 6,014 6,305 6,002 -4.6 0.2 25,221 24,399 3.4
Proposals 3,852 3,463 3,079 11.2 25.1 14,726 11,526 27.8
Ontario 10,658 10,754 11,432 -0.9 -6.8 44,134 47,381 -6.9
Bankruptcies 5,372 5,323 5,696 0.9 -5.7 21,773 23,236 -6.3
Proposals 5,286 5,431 5,736 -2.7 -7.8 22,361 24,145 -7.4
Manitoba 482 469 454 2.8 6.2 1,852 1,877 -1.3
Bankruptcies 327 298 312 9.7 4.8 1,214 1,276 -4.9
Proposals 155 171 142 -9.4 9.2 638 601 6.2
Saskatchewan 415 442 364 -6.1 14.0 1,690 1,731 -2.4
Bankruptcies 251 284 210 -11.6 19.5 1,038 1,001 3.7
Proposals 164 158 154 3.8 6.5 652 730 -10.7
Alberta 1,861 1,979 2,145 -6.0 -13.2 8,258 9,202 -10.3
Bankruptcies 990 1,139 1,255 -13.1 -21.1 4,689 5,759 -18.6
Proposals 871 840 890 3.7 -2.1 3,569 3,443 3.7
British Columbia 2,876 2,867 2,706 0.3 6.3 11,802 11,696 0.9
Bankruptcies 1,752 1,678 1,744 4.4 0.5 7,130 7,562 -5.7
Proposals 1,124 1,189 962 -5.5 16.8 4,672 4,134 13.0
Northwest Territories 18 13 18 38.5 0.0 51 53 -3.8
Bankruptcies 11 9 11 22.2 0.0 31 29 6.9
Proposals 7 4 7 75.0 0.0 20 24 -16.7
Yukon 11 4 15 175.0 -26.7 29 37 -21.6
Bankruptcies 8 3 10 166.7 -20.0 20 23 -13.0
Proposals 3 1 5 200.0 -40.0 9 14 -35.7
Nunavut 2 1 1 100.0 100.0 5 3 66.7
Bankruptcies 1 1 0 0.0 -- 3 0 --
Proposals 1 0 1 -- 0.0 2 3 -33.3
Canada 28,830 29,189 28,660 -1.2 0.6 118,678 118,398 0.2
Bankruptcies 16,670 17,107 17,117 -2.6 -2.6 69,224 71,495 -3.2
Proposals 12,160 12,082 11,543 0.6 5.3 49,454 46,903 5.4

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Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2013 Q3 2013 Q4 2012 Q3 2013 to Q4 2013 Q4 2012 to Q4 2013 12-31-2013 12-31-2012 % Change
Newfoundland and Labrador 6 12 3 -50.0 100.0 32 19 68.4
Bankruptcies 6 4 3 50.0 100.0 21 15 40.0
Proposals 0 8 0 -100.0 -- 11 4 175.0
Prince Edward Island 6 8 1 -25.0 500.0 23 17 35.3
Bankruptcies 5 6 1 -16.7 400.0 18 13 38.5
Proposals 1 2 0 -50.0 -- 5 4 25.0
Nova Scotia 27 27 34 0.0 -20.6 111 106 4.7
Bankruptcies 18 22 27 -18.2 -33.3 84 86 -2.3
Proposals 9 5 7 80.0 28.6 27 20 35.0
New Brunswick 27 18 17 50.0 58.8 82 70 17.1
Bankruptcies 23 13 15 76.9 53.3 64 53 20.8
Proposals 4 5 2 -20.0 100.0 18 17 5.9
Quebec 564 507 488 11.2 15.6 2,180 2,019 8.0
Bankruptcies 414 382 361 8.4 14.7 1,591 1,488 6.9
Proposals 150 125 127 20.0 18.1 589 531 10.9
Ontario 302 277 323 9.0 -6.5 1,220 1,361 -10.4
Bankruptcies 237 230 255 3.0 -7.1 958 1,042 -8.1
Proposals 65 47 68 38.3 -4.4 262 319 -17.9
Manitoba 18 22 15 -18.2 20.0 67 49 36.7
Bankruptcies 13 18 12 -27.8 8.3 55 36 52.8
Proposals 5 4 3 25.0 66.7 12 13 -7.7
Saskatchewan 23 26 21 -11.5 9.5 115 129 -10.9
Bankruptcies 11 16 11 -31.3 0.0 68 79 -13.9
Proposals 12 10 10 20.0 20.0 47 50 -6.0
Alberta 55 38 76 44.7 -27.6 194 312 -37.8
Bankruptcies 37 29 49 27.6 -24.5 137 230 -40.4
Proposals 18 9 27 100.0 -33.3 57 82 -30.5
British Columbia 59 51 66 15.7 -10.6 255 268 -4.9
Bankruptcies 43 37 42 16.2 2.4 189 192 -1.6
Proposals 16 14 24 14.3 -33.3 66 76 -13.2
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 2 1 100.0
Bankruptcies 0 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 1,087 986 1,044 10.2 4.1 4,281 4,353 -1.7
Bankruptcies 807 757 776 6.6 4.0 3,187 3,236 -1.5
Proposals 280 229 268 22.3 4.5 1,094 1,117 -2.1
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