Insolvency Statistics in Canada—Third Quarter of 2014

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Tables

Glossary

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.
Census Metropolitan Area (CMA):
Each 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. For Statistics Canada's geographical definitions of the CMAs, go to CMA and CA: Detailed definition.
Economic Region (ER):
Standard geographical units created for analysis of regional economic activity. For Statistics Canada's geographical definitions of ERs, go to Economic region (ER).
Table 1: Total Insolvencies
province Volume % Change 12-Month Period Ending
Q3 2014 Q2 2014 Q3 2013 Q2 2014 to Q3 2014 Q3 2013 to Q3 2014 09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 381 433 414 -12.0 -8.0 1,579 1,734 -8.9
Bankruptcies
325 391 368 -16.9 -11.7 1,395 1,589 -12.2
Proposals
56 42 46 33.3 21.7 184 145 26.9
Prince Edward Island 217 180 188 20.6 15.4 742 641 15.8
Bankruptcies
157 135 127 16.3 23.6 523 480 9.0
Proposals
60 45 61 33.3 -1.6 219 161 36.0
Nova Scotia 1,395 1,469 1,278 -5.0 9.2 5,146 4,670 10.2
Bankruptcies
999 1,056 864 -5.4 15.6 3,659 3,293 11.1
Proposals
396 413 414 -4.1 -4.3 1,487 1,377 8.0
New Brunswick 1,149 1,179 1,077 -2.5 6.7 4,303 3,905 10.2
Bankruptcies
805 833 753 -3.4 6.9 3,016 2,857 5.6
Proposals
344 346 324 -0.6 6.2 1,287 1,048 22.8
Quebec 10,650 11,195 10,275 -4.9 3.6 43,111 41,266 4.5
Bankruptcies
6,317 6,862 6,687 -7.9 -5.5 26,019 26,747 -2.7
Proposals
4,333 4,333 3,588 0.0 20.8 17,092 14,519 17.7
Ontario 10,303 11,128 11,031 -7.4 -6.6 42,884 46,149 -7.1
Bankruptcies
4,907 5,320 5,553 -7.8 -11.6 20,679 23,073 -10.4
Proposals
5,396 5,808 5,478 -7.1 -1.5 22,205 23,076 -3.8
Manitoba 508 519 491 -2.1 3.5 1,938 1,888 2.6
Bankruptcies
334 320 316 4.4 5.7 1,252 1,253 -0.1
Proposals
174 199 175 -12.6 -0.6 686 635 8.0
Saskatchewan 526 533 468 -1.3 12.4 2,018 1,752 15.2
Bankruptcies
288 309 300 -6.8 -4.0 1,175 1,065 10.3
Proposals
238 224 168 6.3 41.7 843 687 22.7
Alberta 2,006 2,287 2,017 -12.3 -0.5 8,291 8,757 -5.3
Bankruptcies
921 1,090 1,168 -15.5 -21.1 4,065 5,103 -20.3
Proposals
1,085 1,197 849 -9.4 27.8 4,226 3,654 15.7
British Columbia 2,876 3,157 2,918 -8.9 -1.4 11,769 11,894 -1.1
Bankruptcies
1,554 1,873 1,715 -17.0 -9.4 6,866 7,310 -6.1
Proposals
1,322 1,284 1,203 3.0 9.9 4,903 4,584 7.0
Northwest Territories 8 11 13 -27.3 -38.5 51 51 0.0
Bankruptcies
3 6 9 -50.0 -66.7 27 31 -12.9
Proposals
5 5 4 0.0 25.0 24 20 20.0
Yukon 11 11 4 0.0 175.0 42 35 20.0
Bankruptcies
7 6 3 16.7 133.3 28 24 16.7
Proposals
4 5 1 -20.0 300.0 14 11 27.3
Nunavut 1 0 1 -- 0.0 6 4 50.0
Bankruptcies
0 0 1 -- -100.0 3 2 50.0
Proposals
1 0 0 -- -- 3 2 50.0
Canada 30,031 32,102 30,175 -6.5 -0.5 121,880 122,746 -0.7
Bankruptcies
16,617 18,201 17,864 -8.7 -7.0 68,707 72,827 -5.7
Proposals
13,414 13,901 12,311 -3.5 9.0 53,173 49,919 6.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q3 2014 Q2 2014 Q3 2013 Q2 2014 to Q3 2014 Q3 2013 to Q3 2014 09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 378 427 402 -11.5 -6.0 1,555 1,705 -8.8
Bankruptcies
322 386 364 -16.6 -11.5 1,374 1,571 -12.5
Proposals
56 41 38 36.6 47.4 181 134 35.1
Prince Edward Island 212 174 180 21.8 17.8 722 623 15.9
Bankruptcies
154 130 121 18.5 27.3 509 466 9.2
Proposals
58 44 59 31.8 -1.7 213 157 35.7
Nova Scotia 1,376 1,446 1,251 -4.8 10.0 5,060 4,552 11.2
Bankruptcies
986 1,039 842 -5.1 17.1 3,603 3,200 12.6
Proposals
390 407 409 -4.2 -4.6 1,457 1,352 7.8
New Brunswick 1,135 1,158 1,059 -2.0 7.2 4,215 3,833 10.0
Bankruptcies
793 817 740 -2.9 7.2 2,945 2,801 5.1
Proposals
342 341 319 0.3 7.2 1,270 1,032 23.1
Quebec 10,134 10,594 9,768 -4.3 3.7 40,865 39,162 4.3
Bankruptcies
5,932 6,425 6,305 -7.7 -5.9 24,354 25,209 -3.4
Proposals
4,202 4,169 3,463 0.8 21.3 16,511 13,953 18.3
Ontario 10,051 10,857 10,754 -7.4 -6.5 41,785 44,908 -7.0
Bankruptcies
4,693 5,117 5,323 -8.3 -11.8 19,832 22,097 -10.3
Proposals
5,358 5,740 5,431 -6.7 -1.3 21,953 22,811 -3.8
Manitoba 499 500 469 -0.2 6.4 1,876 1,824 2.9
Bankruptcies
329 303 298 8.6 10.4 1,202 1,199 0.3
Proposals
170 197 171 -13.7 -0.6 674 625 7.8
Saskatchewan 503 498 442 1.0 13.8 1,891 1,639 15.4
Bankruptcies
276 289 284 -4.5 -2.8 1,102 997 10.5
Proposals
227 209 158 8.6 43.7 789 642 22.9
Alberta 1,969 2,256 1,979 -12.7 -0.5 8,134 8,542 -4.8
Bankruptcies
898 1,065 1,139 -15.7 -21.2 3,956 4,954 -20.1
Proposals
1,071 1,191 840 -10.1 27.5 4,178 3,588 16.4
British Columbia 2,811 3,086 2,867 -8.9 -2.0 11,504 11,632 -1.1
Bankruptcies
1,502 1,813 1,678 -17.2 -10.5 6,663 7,122 -6.4
Proposals
1,309 1,273 1,189 2.8 10.1 4,841 4,510 7.3
Northwest Territories 8 11 13 -27.3 -38.5 51 51 0.0
Bankruptcies
3 6 9 -50.0 -66.7 27 31 -12.9
Proposals
5 5 4 0.0 25.0 24 20 20.0
Yukon 11 11 4 0.0 175.0 42 33 27.3
Bankruptcies
7 6 3 16.7 133.3 28 22 27.3
Proposals
4 5 1 -20.0 300.0 14 11 27.3
Nunavut 1 0 1 -- 0.0 6 4 50.0
Bankruptcies
0 0 1 -- -100.0 3 2 50.0
Proposals
1 0 0 -- -- 3 2 50.0
Canada 29,088 31,018 29,189 -6.2 -0.3 117,706 118,508 -0.7
Bankruptcies
15,895 17,396 17,107 -8.6 -7.1 65,598 69,671 -5.8
Proposals
13,193 13,622 12,082 -3.1 9.2 52,108 48,837 6.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q3 2014 Q2 2014 Q3 2013 Q2 2014 to Q3 2014 Q3 2013 to Q3 2014 09-30-2014 09-30-2013 % Change
Newfoundland and Labrador 3 6 12 -50.0 -75.0 24 29 -17.2
Bankruptcies
3 5 4 -40.0 -25.0 21 18 16.7
Proposals
0 1 8 -100.0 -100.0 3 11 -72.7
Prince Edward Island 5 6 8 -16.7 -37.5 20 18 11.1
Bankruptcies
3 5 6 -40.0 -50.0 14 14 0.0
Proposals
2 1 2 100.0 0.0 6 4 50.0
Nova Scotia 19 23 27 -17.4 -29.6 86 118 -27.1
Bankruptcies
13 17 22 -23.5 -40.9 56 93 -39.8
Proposals
6 6 5 0.0 20.0 30 25 20.0
New Brunswick 14 21 18 -33.3 -22.2 88 72 22.2
Bankruptcies
12 16 13 -25.0 -7.7 71 56 26.8
Proposals
2 5 5 -60.0 -60.0 17 16 6.3
Quebec 516 601 507 -14.1 1.8 2,246 2,104 6.7
Bankruptcies
385 437 382 -11.9 0.8 1,665 1,538 8.3
Proposals
131 164 125 -20.1 4.8 581 566 2.7
Ontario 252 271 277 -7.0 -9.0 1,099 1,241 -11.4
Bankruptcies
214 203 230 5.4 -7.0 847 976 -13.2
Proposals
38 68 47 -44.1 -19.1 252 265 -4.9
Manitoba 9 19 22 -52.6 -59.1 62 64 -3.1
Bankruptcies
5 17 18 -70.6 -72.2 50 54 -7.4
Proposals
4 2 4 100.0 0.0 12 10 20.0
Saskatchewan 23 35 26 -34.3 -11.5 127 113 12.4
Bankruptcies
12 20 16 -40.0 -25.0 73 68 7.4
Proposals
11 15 10 -26.7 10.0 54 45 20.0
Alberta 37 31 38 19.4 -2.6 157 215 -27.0
Bankruptcies
23 25 29 -8.0 -20.7 109 149 -26.8
Proposals
14 6 9 133.3 55.6 48 66 -27.3
British Columbia 65 71 51 -8.5 27.5 265 262 1.1
Bankruptcies
52 60 37 -13.3 40.5 203 188 8.0
Proposals
13 11 14 18.2 -7.1 62 74 -16.2
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 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Canada 943 1,084 986 -13.0 -4.4 4,174 4,238 -1.5
Bankruptcies
722 805 757 -10.3 -4.6 3,109 3,156 -1.5
Proposals
221 279 229 -20.8 -3.5 1,065 1,082 -1.6
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