Insolvency Statistics in Canada—Second Quarter of 2014

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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
Q2 2014 Q1 2014 Q2 2013 Q1 2014 to Q2 2014 Q2 2013 to Q2 2014 06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 433 387 481 11.9 -10.0 1,612 1,748 -7.8
Bankruptcies 391 347 439 12.7 -10.9 1,438 1,615 -11.0
Proposals 42 40 42 5.0 0.0 174 133 30.8
Prince Edward Island 180 175 148 2.9 21.6 713 604 18.0
Bankruptcies 135 117 111 15.4 21.6 493 467 5.6
Proposals 45 58 37 -22.4 21.6 220 137 60.6
Nova Scotia 1,469 1,138 1,303 29.1 12.7 5,029 4,424 13.7
Bankruptcies 1,056 767 932 37.7 13.3 3,524 3,192 10.4
Proposals 413 371 371 11.3 11.3 1,505 1,232 22.2
New Brunswick 1,179 960 1,039 22.8 13.5 4,231 3,809 11.1
Bankruptcies 833 665 776 25.3 7.3 2,964 2,822 5.0
Proposals 346 295 263 17.3 31.6 1,267 987 28.4
Quebec 11,195 10,836 11,107 3.3 0.8 42,736 39,827 7.3
Bankruptcies 6,862 6,412 7,166 7.0 -4.2 26,389 26,147 0.9
Proposals 4,333 4,424 3,941 -2.1 9.9 16,347 13,680 19.5
Ontario 11,128 10,493 12,327 6.1 -9.7 43,612 46,679 -6.6
Bankruptcies 5,320 4,843 6,279 9.8 -15.3 21,325 23,366 -8.7
Proposals 5,808 5,650 6,048 2.8 -4.0 22,287 23,313 -4.4
Manitoba 519 411 514 26.3 1.0 1,921 1,861 3.2
Bankruptcies 320 258 340 24.0 -5.9 1,234 1,267 -2.6
Proposals 199 153 174 30.1 14.4 687 594 15.7
Saskatchewan 533 521 479 2.3 11.3 1,960 1,749 12.1
Bankruptcies 309 316 281 -2.2 10.0 1,187 1,043 13.8
Proposals 224 205 198 9.3 13.1 773 706 9.5
Alberta 2,287 2,082 2,281 9.8 0.3 8,302 8,983 -7.6
Bankruptcies 1,090 1,027 1,308 6.1 -16.7 4,312 5,346 -19.3
Proposals 1,197 1,055 973 13.5 23.0 3,990 3,637 9.7
British Columbia 3,157 2,801 3,295 12.7 -4.2 11,811 11,851 -0.3
Bankruptcies 1,873 1,644 1,984 13.9 -5.6 7,027 7,455 -5.7
Proposals 1,284 1,157 1,311 11.0 -2.1 4,784 4,396 8.8
Northwest Territories 11 14 11 -21.4 0.0 56 47 19.1
Bankruptcies 6 7 6 -14.3 0.0 33 25 32.0
Proposals 5 7 5 -28.6 0.0 23 22 4.5
Yukon 11 9 9 22.2 22.2 35 43 -18.6
Bankruptcies 6 7 7 -14.3 -14.3 24 26 -7.7
Proposals 5 2 2 150.0 150.0 11 17 -35.3
Nunavut 0 3 1 -100.0 -100.0 6 5 20.0
Bankruptcies 0 2 0 -100.0 -- 4 2 100.0
Proposals 0 1 1 -100.0 -100.0 2 3 -33.3
Canada 32,102 29,830 32,995 7.6 -2.7 122,024 121,630 0.3
Bankruptcies 18,201 16,412 19,629 10.9 -7.3 69,954 72,773 -3.9
Proposals 13,901 13,418 13,366 3.6 4.0 52,070 48,857 6.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q2 2014 Q1 2014 Q2 2013 Q1 2014 to Q2 2014 Q2 2013 to Q2 2014 06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 427 378 473 13.0 -9.7 1,579 1,723 -8.4
Bankruptcies 386 340 432 13.5 -10.6 1,416 1,597 -11.3
Proposals 41 38 41 7.9 0.0 163 126 29.4
Prince Edward Island 174 172 145 1.2 20.0 690 591 16.8
Bankruptcies 130 116 110 12.1 18.2 476 456 4.4
Proposals 44 56 35 -21.4 25.7 214 135 58.5
Nova Scotia 1,446 1,121 1,275 29.0 13.4 4,935 4,311 14.5
Bankruptcies 1,039 759 911 36.9 14.1 3,459 3,105 11.4
Proposals 407 362 364 12.4 11.8 1,476 1,206 22.4
New Brunswick 1,158 934 1,017 24.0 13.9 4,139 3,738 10.7
Bankruptcies 817 645 759 26.7 7.6 2,892 2,770 4.4
Proposals 341 289 258 18.0 32.2 1,247 968 28.8
Quebec 10,594 10,271 10,543 3.1 0.5 40,499 37,751 7.3
Bankruptcies 6,425 5,983 6,768 7.4 -5.1 24,727 24,630 0.4
Proposals 4,169 4,288 3,775 -2.8 10.4 15,772 13,121 20.2
Ontario 10,857 10,219 11,988 6.2 -9.4 42,488 45,403 -6.4
Bankruptcies 5,117 4,650 6,024 10.0 -15.1 20,462 22,380 -8.6
Proposals 5,740 5,569 5,964 3.1 -3.8 22,026 23,023 -4.3
Manitoba 500 395 502 26.6 -0.4 1,846 1,811 1.9
Bankruptcies 303 243 330 24.7 -8.2 1,171 1,223 -4.3
Proposals 197 152 172 29.6 14.5 675 588 14.8
Saskatchewan 498 475 447 4.8 11.4 1,830 1,629 12.3
Bankruptcies 289 286 260 1.0 11.2 1,110 975 13.8
Proposals 209 189 187 10.6 11.8 720 654 10.1
Alberta 2,256 2,048 2,235 10.2 0.9 8,144 8,749 -6.9
Bankruptcies 1,065 1,003 1,273 6.2 -16.3 4,197 5,179 -19.0
Proposals 1,191 1,045 962 14.0 23.8 3,947 3,570 10.6
British Columbia 3,086 2,731 3,226 13.0 -4.3 11,560 11,571 -0.1
Bankruptcies 1,813 1,596 1,932 13.6 -6.2 6,839 7,255 -5.7
Proposals 1,273 1,135 1,294 12.2 -1.6 4,721 4,316 9.4
Northwest Territories 11 14 11 -21.4 0.0 56 47 19.1
Bankruptcies 6 7 6 -14.3 0.0 33 25 32.0
Proposals 5 7 5 -28.6 0.0 23 22 4.5
Yukon 11 9 9 22.2 22.2 35 41 -14.6
Bankruptcies 6 7 7 -14.3 -14.3 24 24 0.0
Proposals 5 2 2 150.0 150.0 11 17 -35.3
Nunavut 0 3 1 -100.0 -100.0 6 4 50.0
Bankruptcies 0 2 0 -100.0 -- 4 1 300.0
Proposals 0 1 1 -100.0 -100.0 2 3 -33.3
Canada 31,018 28,770 31,872 7.8 -2.7 117,807 117,369 0.4
Bankruptcies 17,396 15,637 18,812 11.2 -7.5 66,810 69,620 -4.0
Proposals 13,622 13,133 13,060 3.7 4.3 50,997 47,749 6.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q2 2014 Q1 2014 Q2 2013 Q1 2014 to Q2 2014 Q2 2013 to Q2 2014 06-30-2014 06-30-2013 % Change
Newfoundland and Labrador 6 9 8 -33.3 -25.0 33 25 32.0
Bankruptcies 5 7 7 -28.6 -28.6 22 18 22.2
Proposals 1 2 1 -50.0 0.0 11 7 57.1
Prince Edward Island 6 3 3 100.0 100.0 23 13 76.9
Bankruptcies 5 1 1 400.0 400.0 17 11 54.5
Proposals 1 2 2 -50.0 -50.0 6 2 200.0
Nova Scotia 23 17 28 35.3 -17.9 94 113 -16.8
Bankruptcies 17 8 21 112.5 -19.0 65 87 -25.3
Proposals 6 9 7 -33.3 -14.3 29 26 11.5
New Brunswick 21 26 22 -19.2 -4.5 92 71 29.6
Bankruptcies 16 20 17 -20.0 -5.9 72 52 38.5
Proposals 5 6 5 -16.7 0.0 20 19 5.3
Quebec 601 565 564 6.4 6.6 2,237 2,076 7.8
Bankruptcies 437 429 398 1.9 9.8 1,662 1,517 9.6
Proposals 164 136 166 20.6 -1.2 575 559 2.9
Ontario 271 274 339 -1.1 -20.1 1,124 1,276 -11.9
Bankruptcies 203 193 255 5.2 -20.4 863 986 -12.5
Proposals 68 81 84 -16.0 -19.0 261 290 -10.0
Manitoba 19 16 12 18.8 58.3 75 50 50.0
Bankruptcies 17 15 10 13.3 70.0 63 44 43.2
Proposals 2 1 2 100.0 0.0 12 6 100.0
Saskatchewan 35 46 32 -23.9 9.4 130 120 8.3
Bankruptcies 20 30 21 -33.3 -4.8 77 68 13.2
Proposals 15 16 11 -6.3 36.4 53 52 1.9
Alberta 31 34 46 -8.8 -32.6 158 234 -32.5
Bankruptcies 25 24 35 4.2 -28.6 115 167 -31.1
Proposals 6 10 11 -40.0 -45.5 43 67 -35.8
British Columbia 71 70 69 1.4 2.9 251 280 -10.4
Bankruptcies 60 48 52 25.0 15.4 188 200 -6.0
Proposals 11 22 17 -50.0 -35.3 63 80 -21.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 2 -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 1,084 1,060 1,123 2.3 -3.5 4,217 4,261 -1.0
Bankruptcies 805 775 817 3.9 -1.5 3,144 3,153 -0.3
Proposals 279 285 306 -2.1 -8.8 1,073 1,108 -3.2
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