Insolvency Statistics in Canada—First Quarter of 2015

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
Q1 2015 Q4 2014 Q1 2014 Q4 2014 to Q1 2015 Q1 2014 to Q1 2015 03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 398 374 387 6.4 2.8 1,586 1,660 -4.5
Bankruptcies 334 312 347 7.1 -3.7 1,362 1,486 -8.3
Proposals 64 62 40 3.2 60.0 224 174 28.7
Prince Edward Island 183 167 175 9.6 4.6 747 681 9.7
Bankruptcies 121 106 117 14.2 3.4 519 469 10.7
Proposals 62 61 58 1.6 6.9 228 212 7.5
Nova Scotia 1,227 1,302 1,138 -5.8 7.8 5,393 4,863 10.9
Bankruptcies 812 956 767 -15.1 5.9 3,823 3,400 12.4
Proposals 415 346 371 19.9 11.9 1,570 1,463 7.3
New Brunswick 956 1,107 960 -13.6 -0.4 4,391 4,091 7.3
Bankruptcies 631 786 665 -19.7 -5.1 3,055 2,907 5.1
Proposals 325 321 295 1.2 10.2 1,336 1,184 12.8
Quebec 11,751 11,210 10,836 4.8 8.4 44,806 42,648 5.1
Bankruptcies 6,370 6,546 6,412 -2.7 -0.7 26,095 26,693 -2.2
Proposals 5,381 4,664 4,424 15.4 21.6 18,711 15,955 17.3
Ontario 10,176 10,274 10,493 -1.0 -3.0 41,881 44,811 -6.5
Bankruptcies 4,554 4,999 4,843 -8.9 -6.0 19,780 22,284 -11.2
Proposals 5,622 5,275 5,650 6.6 -0.5 22,101 22,527 -1.9
Manitoba 502 510 411 -1.6 22.1 2,039 1,916 6.4
Bankruptcies 293 336 258 -12.8 13.6 1,283 1,254 2.3
Proposals 209 174 153 20.1 36.6 756 662 14.2
Saskatchewan 526 482 521 9.1 1.0 2,067 1,906 8.4
Bankruptcies 264 269 316 -1.9 -16.5 1,130 1,159 -2.5
Proposals 262 213 205 23.0 27.8 937 747 25.4
Alberta 2,254 2,047 2,082 10.1 8.3 8,594 8,296 3.6
Bankruptcies 1,017 926 1,027 9.8 -1.0 3,954 4,530 -12.7
Proposals 1,237 1,121 1,055 10.3 17.3 4,640 3,766 23.2
British Columbia 2,953 2,805 2,801 5.3 5.4 11,791 11,949 -1.3
Bankruptcies 1,535 1,474 1,644 4.1 -6.6 6,436 7,138 -9.8
Proposals 1,418 1,331 1,157 6.5 22.6 5,355 4,811 11.3
Northwest Territories 8 16 14 -50.0 -42.9 43 56 -23.2
Bankruptcies 4 10 7 -60.0 -42.9 23 33 -30.3
Proposals 4 6 7 -33.3 -42.9 20 23 -13.0
Yukon 11 9 9 22.2 22.2 42 33 27.3
Bankruptcies 7 2 7 250.0 0.0 22 25 -12.0
Proposals 4 7 2 -42.9 100.0 20 8 150.0
Nunavut 1 3 3 -66.7 -66.7 5 7 -28.6
Bankruptcies 0 3 2 -100.0 -100.0 3 4 -25.0
Proposals 1 0 1 -- 0.0 2 3 -33.3
Canada 30,946 30,306 29,830 2.1 3.7 123,385 122,917 0.4
Bankruptcies 15,942 16,725 16,412 -4.7 -2.9 67,485 71,382 -5.5
Proposals 15,004 13,581 13,418 10.5 11.8 55,900 51,535 8.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2015 Q4 2014 Q1 2014 Q4 2014 to Q1 2015 Q1 2014 to Q1 2015 03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 392 362 378 8.3 3.7 1,559 1,625 -4.1
Bankruptcies 330 300 340 10.0 -2.9 1,338 1,462 -8.5
Proposals 62 62 38 0.0 63.2 221 163 35.6
Prince Edward Island 179 163 172 9.8 4.1 728 661 10.1
Bankruptcies 119 102 116 16.7 2.6 505 456 10.7
Proposals 60 61 56 -1.6 7.1 223 205 8.8
Nova Scotia 1,208 1,284 1,121 -5.9 7.8 5,314 4,764 11.5
Bankruptcies 803 942 759 -14.8 5.8 3,770 3,331 13.2
Proposals 405 342 362 18.4 11.9 1,544 1,433 7.7
New Brunswick 933 1,081 934 -13.7 -0.1 4,307 3,998 7.7
Bankruptcies 619 766 645 -19.2 -4.0 2,995 2,834 5.7
Proposals 314 315 289 -0.3 8.7 1,312 1,164 12.7
Quebec 11,129 10,555 10,271 5.4 8.4 42,412 40,448 4.9
Bankruptcies 5,904 6,107 5,983 -3.3 -1.3 24,368 25,070 -2.8
Proposals 5,225 4,448 4,288 17.5 21.9 18,044 15,378 17.3
Ontario 9,865 9,981 10,219 -1.2 -3.5 40,754 43,619 -6.6
Bankruptcies 4,315 4,774 4,650 -9.6 -7.2 18,899 21,369 -11.6
Proposals 5,550 5,207 5,569 6.6 -0.3 21,855 22,250 -1.8
Manitoba 496 497 395 -0.2 25.6 1,992 1,848 7.8
Bankruptcies 290 325 243 -10.8 19.3 1,247 1,198 4.1
Proposals 206 172 152 19.8 35.5 745 650 14.6
Saskatchewan 505 462 475 9.3 6.3 1,968 1,779 10.6
Bankruptcies 251 254 286 -1.2 -12.2 1,070 1,081 -1.0
Proposals 254 208 189 22.1 34.4 898 698 28.7
Alberta 2,224 2,008 2,048 10.8 8.6 8,457 8,123 4.1
Bankruptcies 997 893 1,003 11.6 -0.6 3,853 4,405 -12.5
Proposals 1,227 1,115 1,045 10.0 17.4 4,604 3,718 23.8
British Columbia 2,907 2,755 2,731 5.5 6.4 11,559 11,700 -1.2
Bankruptcies 1,508 1,434 1,596 5.2 -5.5 6,257 6,958 -10.1
Proposals 1,399 1,321 1,135 5.9 23.3 5,302 4,742 11.8
Northwest Territories 8 16 14 -50.0 -42.9 43 56 -23.2
Bankruptcies 4 10 7 -60.0 -42.9 23 33 -30.3
Proposals 4 6 7 -33.3 -42.9 20 23 -13.0
Yukon 11 8 9 37.5 22.2 41 33 24.2
Bankruptcies 7 2 7 250.0 0.0 22 25 -12.0
Proposals 4 6 2 -33.3 100.0 19 8 137.5
Nunavut 1 2 3 -50.0 -66.7 4 7 -42.9
Bankruptcies 0 2 2 -100.0 -100.0 2 4 -50.0
Proposals 1 0 1 -- 0.0 2 3 -33.3
Canada 29,858 29,174 28,770 2.3 3.8 119,138 118,661 0.4
Bankruptcies 15,147 15,911 15,637 -4.8 -3.1 64,349 68,226 -5.7
Proposals 14,711 13,263 13,133 10.9 12.0 54,789 50,435 8.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2015 Q4 2014 Q1 2014 Q4 2014 to Q1 2015 Q1 2014 to Q1 2015 03-31-2015 03-31-2014 % Change
Newfoundland and Labrador 6 12 9 -50.0 -33.3 27 35 -22.9
Bankruptcies 4 12 7 -66.7 -42.9 24 24 0.0
Proposals 2 0 2 -- 0.0 3 11 -72.7
Prince Edward Island 4 4 3 0.0 33.3 19 20 -5.0
Bankruptcies 2 4 1 -50.0 100.0 14 13 7.7
Proposals 2 0 2 -- 0.0 5 7 -28.6
Nova Scotia 19 18 17 5.6 11.8 79 99 -20.2
Bankruptcies 9 14 8 -35.7 12.5 53 69 -23.2
Proposals 10 4 9 150.0 11.1 26 30 -13.3
New Brunswick 23 26 26 -11.5 -11.5 84 93 -9.7
Bankruptcies 12 20 20 -40.0 -40.0 60 73 -17.8
Proposals 11 6 6 83.3 83.3 24 20 20.0
Quebec 622 655 565 -5.0 10.1 2,394 2,200 8.8
Bankruptcies 466 439 429 6.2 8.6 1,727 1,623 6.4
Proposals 156 216 136 -27.8 14.7 667 577 15.6
Ontario 311 293 274 6.1 13.5 1,127 1,192 -5.5
Bankruptcies 239 225 193 6.2 23.8 881 915 -3.7
Proposals 72 68 81 5.9 -11.1 246 277 -11.2
Manitoba 6 13 16 -53.8 -62.5 47 68 -30.9
Bankruptcies 3 11 15 -72.7 -80.0 36 56 -35.7
Proposals 3 2 1 50.0 200.0 11 12 -8.3
Saskatchewan 21 20 46 5.0 -54.3 99 127 -22.0
Bankruptcies 13 15 30 -13.3 -56.7 60 78 -23.1
Proposals 8 5 16 60.0 -50.0 39 49 -20.4
Alberta 30 39 34 -23.1 -11.8 137 173 -20.8
Bankruptcies 20 33 24 -39.4 -16.7 101 125 -19.2
Proposals 10 6 10 66.7 0.0 36 48 -25.0
British Columbia 46 50 70 -8.0 -34.3 232 249 -6.8
Bankruptcies 27 40 48 -32.5 -43.8 179 180 -0.6
Proposals 19 10 22 90.0 -13.6 53 69 -23.2
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 1 0 -100.0 -- 1 0 --
Nunavut 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 1 0 -100.0 -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 1,088 1,132 1,060 -3.9 2.6 4,247 4,256 -0.2
Bankruptcies 795 814 775 -2.3 2.6 3,136 3,156 -0.6
Proposals 293 318 285 -7.9 2.8 1,111 1,100 1.0
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