Insolvency Statistics in Canada—Fourth Quarter of 2014

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
Q4 2014 Q3 2014 Q4 2013 Q3 2014 to Q4 2014 Q4 2013 to Q4 2014 12-31-2014 12-31-2013 % Change
Newfoundland and Labrador 374 381 378 -1.8 -1.1 1,575 1,710 -7.9
Bankruptcies 312 325 332 -4.0 -6.0 1,375 1,545 -11.0
Proposals 62 56 46 10.7 34.8 200 165 21.2
Prince Edward Island 167 217 170 -23.0 -1.8 739 640 15.5
Bankruptcies 106 157 114 -32.5 -7.0 515 458 12.4
Proposals 61 60 56 1.7 8.9 224 182 23.1
Nova Scotia 1,302 1,395 1,144 -6.7 13.8 5,304 4,771 11.2
Bankruptcies 956 999 837 -4.3 14.2 3,778 3,379 11.8
Proposals 346 396 307 -12.6 12.7 1,526 1,392 9.6
New Brunswick 1,107 1,149 1,015 -3.7 9.1 4,395 4,037 8.9
Bankruptcies 786 805 713 -2.4 10.2 3,089 2,910 6.2
Proposals 321 344 302 -6.7 6.3 1,306 1,127 15.9
Quebec 11,210 10,650 10,430 5.3 7.5 43,891 42,127 4.2
Bankruptcies 6,546 6,317 6,428 3.6 1.8 26,137 26,812 -2.5
Proposals 4,664 4,333 4,002 7.6 16.5 17,754 15,315 15.9
Ontario 10,274 10,303 10,960 -0.3 -6.3 42,198 45,354 -7.0
Bankruptcies 4,999 4,907 5,609 1.9 -10.9 20,069 22,731 -11.7
Proposals 5,275 5,396 5,351 -2.2 -1.4 22,129 22,623 -2.2
Manitoba 510 508 500 0.4 2.0 1,948 1,919 1.5
Bankruptcies 336 334 340 0.6 -1.2 1,248 1,269 -1.7
Proposals 174 174 160 0.0 8.8 700 650 7.7
Saskatchewan 482 526 438 -8.4 10.0 2,062 1,805 14.2
Bankruptcies 269 288 262 -6.6 2.7 1,182 1,106 6.9
Proposals 213 238 176 -10.5 21.0 880 699 25.9
Alberta 2,047 2,006 1,916 2.0 6.8 8,422 8,452 -0.4
Bankruptcies 926 921 1,027 0.5 -9.8 3,964 4,826 -17.9
Proposals 1,121 1,085 889 3.3 26.1 4,458 3,626 22.9
British Columbia 2,805 2,876 2,935 -2.5 -4.4 11,639 12,057 -3.5
Bankruptcies 1,474 1,554 1,795 -5.1 -17.9 6,545 7,319 -10.6
Proposals 1,331 1,322 1,140 0.7 16.8 5,094 4,738 7.5
Northwest Territories 16 8 18 100.0 -11.1 49 51 -3.9
Bankruptcies 10 3 11 233.3 -9.1 26 31 -16.1
Proposals 6 5 7 20.0 -14.3 23 20 15.0
Yukon 9 11 11 -18.2 -18.2 40 31 29.0
Bankruptcies 2 7 8 -71.4 -75.0 22 22 0.0
Proposals 7 4 3 75.0 133.3 18 9 100.0
Nunavut 3 1 2 200.0 50.0 7 5 40.0
Bankruptcies 3 0 1 -- 200.0 5 3 66.7
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 30,306 30,031 29,917 0.9 1.3 122,269 122,959 -0.6
Bankruptcies 16,725 16,617 17,477 0.6 -4.3 67,955 72,411 -6.2
Proposals 13,581 13,414 12,440 1.2 9.2 54,314 50,548 7.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2014 Q3 2014 Q4 2013 Q3 2014 to Q4 2014 Q4 2013 to Q4 2014 12-31-2014 12-31-2013 % Change
Newfoundland and Labrador 362 378 372 -4.2 -2.7 1,545 1,678 -7.9
Bankruptcies 300 322 326 -6.8 -8.0 1,348 1,524 -11.5
Proposals 62 56 46 10.7 34.8 197 154 27.9
Prince Edward Island 163 212 164 -23.1 -0.6 721 617 16.9
Bankruptcies 102 154 109 -33.8 -6.4 502 440 14.1
Proposals 61 58 55 5.2 10.9 219 177 23.7
Nova Scotia 1,284 1,376 1,117 -6.7 15.0 5,227 4,660 12.2
Bankruptcies 942 986 819 -4.5 15.0 3,726 3,295 13.1
Proposals 342 390 298 -12.3 14.8 1,501 1,365 10.0
New Brunswick 1,081 1,135 988 -4.8 9.4 4,308 3,955 8.9
Bankruptcies 766 793 690 -3.4 11.0 3,021 2,846 6.1
Proposals 315 342 298 -7.9 5.7 1,287 1,109 16.1
Quebec 10,555 10,134 9,866 4.2 7.0 41,554 39,947 4.0
Bankruptcies 6,107 5,932 6,014 3.0 1.5 24,447 25,221 -3.1
Proposals 4,448 4,202 3,852 5.9 15.5 17,107 14,726 16.2
Ontario 9,981 10,051 10,658 -0.7 -6.4 41,108 44,134 -6.9
Bankruptcies 4,774 4,693 5,372 1.7 -11.1 19,234 21,773 -11.7
Proposals 5,207 5,358 5,286 -2.8 -1.5 21,874 22,361 -2.2
Manitoba 497 499 482 -0.4 3.1 1,891 1,852 2.1
Bankruptcies 325 329 327 -1.2 -0.6 1,200 1,214 -1.2
Proposals 172 170 155 1.2 11.0 691 638 8.3
Saskatchewan 462 503 415 -8.2 11.3 1,938 1,690 14.7
Bankruptcies 254 276 251 -8.0 1.2 1,105 1,038 6.5
Proposals 208 227 164 -8.4 26.8 833 652 27.8
Alberta 2,008 1,969 1,861 2.0 7.9 8,281 8,258 0.3
Bankruptcies 893 898 990 -0.6 -9.8 3,859 4,689 -17.7
Proposals 1,115 1,071 871 4.1 28.0 4,422 3,569 23.9
British Columbia 2,755 2,811 2,876 -2.0 -4.2 11,383 11,802 -3.6
Bankruptcies 1,434 1,502 1,752 -4.5 -18.2 6,345 7,130 -11.0
Proposals 1,321 1,309 1,124 0.9 17.5 5,038 4,672 7.8
Northwest Territories 16 8 18 100.0 -11.1 49 51 -3.9
Bankruptcies 10 3 11 233.3 -9.1 26 31 -16.1
Proposals 6 5 7 20.0 -14.3 23 20 15.0
Yukon 8 11 11 -27.3 -27.3 39 29 34.5
Bankruptcies 2 7 8 -71.4 -75.0 22 20 10.0
Proposals 6 4 3 50.0 100.0 17 9 88.9
Nunavut 2 1 2 100.0 0.0 6 5 20.0
Bankruptcies 2 0 1 -- 100.0 4 3 33.3
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 29,174 29,088 28,830 0.3 1.2 118,050 118,678 -0.5
Bankruptcies 15,911 15,895 16,670 0.1 -4.6 64,839 69,224 -6.3
Proposals 13,263 13,193 12,160 0.5 9.1 53,211 49,454 7.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2014 Q3 2014 Q4 2013 Q3 2014 to Q4 2014 Q4 2013 to Q4 2014 12-31-2014 12-31-2013 % Change
Newfoundland and Labrador 12 3 6 300.0 100.0 30 32 -6.3
Bankruptcies 12 3 6 300.0 100.0 27 21 28.6
Proposals 0 0 0 -- -- 3 11 -72.7
Prince Edward Island 4 5 6 -20.0 -33.3 18 23 -21.7
Bankruptcies 4 3 5 33.3 -20.0 13 18 -27.8
Proposals 0 2 1 -100.0 -100.0 5 5 0.0
Nova Scotia 18 19 27 -5.3 -33.3 77 111 -30.6
Bankruptcies 14 13 18 7.7 -22.2 52 84 -38.1
Proposals 4 6 9 -33.3 -55.6 25 27 -7.4
New Brunswick 26 14 27 85.7 -3.7 87 82 6.1
Bankruptcies 20 12 23 66.7 -13.0 68 64 6.3
Proposals 6 2 4 200.0 50.0 19 18 5.6
Quebec 655 516 564 26.9 16.1 2,337 2,180 7.2
Bankruptcies 439 385 414 14.0 6.0 1,690 1,591 6.2
Proposals 216 131 150 64.9 44.0 647 589 9.8
Ontario 293 252 302 16.3 -3.0 1,090 1,220 -10.7
Bankruptcies 225 214 237 5.1 -5.1 835 958 -12.8
Proposals 68 38 65 78.9 4.6 255 262 -2.7
Manitoba 13 9 18 44.4 -27.8 57 67 -14.9
Bankruptcies 11 5 13 120.0 -15.4 48 55 -12.7
Proposals 2 4 5 -50.0 -60.0 9 12 -25.0
Saskatchewan 20 23 23 -13.0 -13.0 124 115 7.8
Bankruptcies 15 12 11 25.0 36.4 77 68 13.2
Proposals 5 11 12 -54.5 -58.3 47 47 0.0
Alberta 39 37 55 5.4 -29.1 141 194 -27.3
Bankruptcies 33 23 37 43.5 -10.8 105 137 -23.4
Proposals 6 14 18 -57.1 -66.7 36 57 -36.8
British Columbia 50 65 59 -23.1 -15.3 256 255 0.4
Bankruptcies 40 52 43 -23.1 -7.0 200 189 5.8
Proposals 10 13 16 -23.1 -37.5 56 66 -15.2
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 1 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 0 2 -100.0
Proposals 1 0 0 -- -- 1 0 --
Nunavut 1 0 0 -- -- 1 0 --
Bankruptcies 1 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 1,132 943 1,087 20.0 4.1 4,219 4,281 -1.4
Bankruptcies 814 722 807 12.7 0.9 3,116 3,187 -2.2
Proposals 318 221 280 43.9 13.6 1,103 1,094 0.8
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