Insolvency Statistics in Canada—First Quarter of 2014

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 a 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.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
Q1 2014 Q4 2013 Q1 2013 Q4 2013 to Q1 2014 Q1 2013 to Q1 2014 03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 387 378 437 2.4 -11.4 1,660 1,770 -6.2
Bankruptcies 347 332 406 4.5 -14.5 1,486 1,627 -8.7
Proposals 40 46 31 -13.0 29.0 174 143 21.7
Prince Edward Island 175 170 134 2.9 30.6 681 622 9.5
Bankruptcies 117 114 106 2.6 10.4 469 472 -0.6
Proposals 58 56 28 3.6 107.1 212 150 41.3
Nova Scotia 1,138 1,144 1,046 -0.5 8.8 4,863 4,324 12.5
Bankruptcies 767 837 746 -8.4 2.8 3,400 3,200 6.3
Proposals 371 307 300 20.8 23.7 1,463 1,124 30.2
New Brunswick 960 1,015 906 -5.4 6.0 4,091 3,803 7.6
Bankruptcies 665 713 668 -6.7 -0.4 2,907 2,859 1.7
Proposals 295 302 238 -2.3 23.9 1,184 944 25.4
Quebec 10,836 10,430 10,315 3.9 5.1 42,648 38,412 11.0
Bankruptcies 6,412 6,428 6,531 -0.2 -1.8 26,693 25,702 3.9
Proposals 4,424 4,002 3,784 10.5 16.9 15,955 12,710 25.5
Ontario 10,493 10,960 11,036 -4.3 -4.9 44,811 47,422 -5.5
Bankruptcies 4,843 5,609 5,290 -13.7 -8.4 22,284 23,609 -5.6
Proposals 5,650 5,351 5,746 5.6 -1.7 22,527 23,813 -5.4
Manitoba 411 500 414 -17.8 -0.7 1,916 1,861 3.0
Bankruptcies 258 340 273 -24.1 -5.5 1,254 1,269 -1.2
Proposals 153 160 141 -4.4 8.5 662 592 11.8
Saskatchewan 521 438 420 18.9 24.0 1,906 1,758 8.4
Bankruptcies 316 262 263 20.6 20.2 1,159 1,050 10.4
Proposals 205 176 157 16.5 30.6 747 708 5.5
Alberta 2,082 1,916 2,238 8.7 -7.0 8,296 9,187 -9.7
Bankruptcies 1,027 1,027 1,323 0.0 -22.4 4,530 5,630 -19.5
Proposals 1,055 889 915 18.7 15.3 3,766 3,557 5.9
British Columbia 2,801 2,935 2,909 -4.6 -3.7 11,949 11,770 1.5
Bankruptcies 1,644 1,795 1,825 -8.4 -9.9 7,138 7,586 -5.9
Proposals 1,157 1,140 1,084 1.5 6.7 4,811 4,184 15.0
Northwest Territories 14 18 9 -22.2 55.6 56 45 24.4
Bankruptcies 7 11 5 -36.4 40.0 33 24 37.5
Proposals 7 7 4 0.0 75.0 23 21 9.5
Yukon 9 11 7 -18.2 28.6 33 40 -17.5
Bankruptcies 7 8 4 -12.5 75.0 25 24 4.2
Proposals 2 3 3 -33.3 -33.3 8 16 -50.0
Nunavut 3 2 1 50.0 200.0 7 4 75.0
Bankruptcies 2 1 1 100.0 100.0 4 2 100.0
Proposals 1 1 0 0.0 -- 3 2 50.0
Canada 29,830 29,917 29,872 -0.3 -0.1 122,917 121,018 1.6
Bankruptcies 16,412 17,477 17,441 -6.1 -5.9 71,382 73,054 -2.3
Proposals 13,418 12,440 12,431 7.9 7.9 51,535 47,964 7.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2014 Q4 2013 Q1 2013 Q4 2013 to Q1 2014 Q1 2013 to Q1 2014 03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 378 372 431 1.6 -12.3 1,625 1,752 -7.2
Bankruptcies 340 326 402 4.3 -15.4 1,462 1,615 -9.5
Proposals 38 46 29 -17.4 31.0 163 137 19.0
Prince Edward Island 172 164 128 4.9 34.4 661 609 8.5
Bankruptcies 116 109 100 6.4 16.0 456 460 -0.9
Proposals 56 55 28 1.8 100.0 205 149 37.6
Nova Scotia 1,121 1,117 1,017 0.4 10.2 4,764 4,215 13.0
Bankruptcies 759 819 723 -7.3 5.0 3,331 3,112 7.0
Proposals 362 298 294 21.5 23.1 1,433 1,103 29.9
New Brunswick 934 988 891 -5.5 4.8 3,998 3,736 7.0
Bankruptcies 645 690 657 -6.5 -1.8 2,834 2,811 0.8
Proposals 289 298 234 -3.0 23.5 1,164 925 25.8
Quebec 10,271 9,866 9,770 4.1 5.1 40,448 36,369 11.2
Bankruptcies 5,983 6,014 6,134 -0.5 -2.5 25,070 24,190 3.6
Proposals 4,288 3,852 3,636 11.3 17.9 15,378 12,179 26.3
Ontario 10,219 10,658 10,734 -4.1 -4.8 43,619 46,146 -5.5
Bankruptcies 4,650 5,372 5,054 -13.4 -8.0 21,369 22,631 -5.6
Proposals 5,569< /td> 5,286 5,680 5.4 -2.0 22,250 23,515 -5.4
Manitoba 395 482 399 -18.0 -1.0 1,848 1,814 1.9
Bankruptcies 243 327 259 -25.7 -6.2 1,198 1,230 -2.6
Proposals 152 155 140 -1.9 8.6 650 584 11.3
Saskatchewan 475 415 386 14.5 23.1 1,779 1,634 8.9
Bankruptcies 286 251 243 13.9 17.7 1,081 979 10.4
Proposals 189 164 143 15.2 32.2 698 655 6.6
Alberta 2,048 1,861 2,183 10.0 -6.2 8,123 8,908 -8.8
Bankruptcies 1,003 990 1,287 1.3 -22.1 4,405 5,428 -18.8
Proposals 1,045 871 896 20.0 16.6 3,718 3,480 6.8
British Columbia 2,731 2,876 2,833 -5.0 -3.6 11,700 11,505 1.7
Bankruptcies 1,596 1,752 1,768 -8.9 -9.7 6,958 7,393 -5.9
Proposals 1,135 1,124 1,065 1.0 6.6 4,742 4,112 15.3
Northwest Territories 14 18 9 -22.2 55.6 56 44 27.3
Bankruptcies 7 11 5 -36.4 40.0 33 24 37.5
Proposals 7 7 4 0.0 75.0 23 20 15.0
Yukon 9 11 5 -18.2 80.0 33 37 -10.8
Bankruptcies 7 8 2 -12.5 250.0 25 21 19.0
Proposals 2 3 3 -33.3 -33.3 8 16 -50.0
Nunavut 3 2 1 50.0 200.0 7 3 133.3
Bankruptcies 2 1 1 100.0 100.0 4 1 300.0
Proposals 1 1 0 0.0 -- 3 2 50.0
Canada 28,770 28,830 28,787 -0.2 -0.1 118,661 116,772 1.6
Bankruptcies 15,637 16,670 16,635 -6.2 -6.0 68,226 69,895 -2.4
Proposals 13,133 12,160 12,152 8.0 8.1 50,435 46,877 7.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2014 Q4 2013 Q1 2013 Q4 2013 to Q1 2014 Q1 2013 to Q1 2014 03-31-2014 03-31-2013 % Change
Newfoundland and Labrador 9 6 6 50.0 50.0 35 18 94.4
Bankruptcies 7 6 4 16.7 75.0 24 12 100.0
Proposals 2 0 2 -- 0.0 11 6 83.3
Prince Edward Island 3 6 6 -50.0 -50.0 20 13 53.8
Bankruptcies 1 5 6 -80.0 -83.3 13 12 8.3
Proposals 2 1 0 100.0 -- 7 1 600.0
Nova Scotia 17 27 29 -37.0 -41.4 99 109 -9.2
Bankruptcies 8 18 23 -55.6 -65.2 69 88 -21.6
Proposals 9 9 6 0.0 50.0 30 21 42.9
New Brunswick 26 27 15 -3.7 73.3 93 67 38.8
Bankruptcies 20 23 11 -13.0 81.8 73 48 52.1
Proposals 6 4 4 50.0 50.0 20 19 5.3
Quebec 565 564 545 0.2 3.7 2,200 2,043 7.7
Bankruptcies 429 414 397 3.6 8.1 1,623 1,512 7.3
Proposals 136 150 148 -9.3 -8.1 577 531 8.7
Ontario 274 302 302 -9.3 -9.3 1,192 1,276 -6.6
Bankruptcies 193 237 236 -18.6 -18.2 915 978 -6.4
Proposals 81 65 66 24.6 22.7 277 298 -7.0
Manitoba 16 18 15 -11.1 6.7 68 47 44.7
Bankruptcies 15 13 14 15.4 7.1 56 39 43.6
Proposals 1 5 1 -80.0 0.0 12 8 50.0
Saskatchewan 46 23 34 100.0 35.3 127 124 2.4
Bankruptcies 30 11 20 172.7 50.0 78 71 9.9
Proposals 16 12 14 33.3 14.3 49 53 -7.5
Alberta 34 55 55 -38.2 -38.2 173 279 -38.0
Bankruptcies 24 37 36 -35.1 -33.3 125 202 -38.1
Proposals 10 18 19 -44.4 -47.4 48 77 -37.7
British Columbia 70 59 76 18.6 -7.9 249 265 -6.0
Bankruptcies 48 43 57 11.6 -15.8 180 193 -6.7
Proposals 22 16 19 37.5 15.8 69 72 -4.2
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 2 -- -100.0 0 3 -100.0
Bankruptcies 0 0 2 -- -100.0 0 3 -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 1,060 1,087 1,085 -2.5 -2.3 4,256 4,246 0.2
Bankruptcies 775 807 806 -4.0 -3.8 3,156 3,159 -0.1
Proposals 285 280 279 1.8 2.2 1,100 1,087 1.2
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