Insolvency Statistics in Canada—Third 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
Q3 2015 Q2 2015 Q3 2014 Q2 2015 to Q3 2015 Q3 2014 to Q3 2015 09-30-2015 09-30-2014 % Change
Newfoundland and Labrador 467 512 381 -8.8 22.6 1,751 1,579 10.9
Bankruptcies 400 429 325 -6.8 23.1 1,475 1,395 5.7
Proposals 67 83 56 -19.3 19.6 276 184 50.0
Prince Edward Island 198 222 217 -10.8 -8.8 770 742 3.8
Bankruptcies 126 139 157 -9.4 -19.7 492 523 -5.9
Proposals 72 83 60 -13.3 20.0 278 219 26.9
Nova Scotia 1,312 1,422 1,395 -7.7 -5.9 5,263 5,146 2.3
Bankruptcies 914 1,038 999 -11.9 -8.5 3,720 3,659 1.7
Proposals 398 384 396 3.6 0.5 1,543 1,487 3.8
New Brunswick 1,198 1,223 1,149 -2.0 4.3 4,484 4,303 4.2
Bankruptcies 787 783 805 0.5 -2.2 2,987 3,016 -1.0
Proposals 411 440 344 -6.6 19.5 1,497 1,287 16.3
Quebec 11,101 11,899 10,650 -6.7 4.2 45,961 43,111 6.6
Bankruptcies 6,434 6,989 6,317 -7.9 1.9 26,339 26,019 1.2
Proposals 4,667 4,910 4,333 -4.9 7.7 19,622 17,092 14.8
Ontario 9,852 10,868 10,303 -9.3 -4.4 41,170 42,884 -4.0
Bankruptcies 4,498 5,117 4,907 -12.1 -8.3 19,168 20,679 -7.3
Proposals 5,354 5,751 5,396 -6.9 -0.8 22,002 22,205 -0.9
Manitoba 539 534 508 0.9 6.1 2,085 1,938 7.6
Bankruptcies 318 367 334 -13.4 -4.8 1,314 1,252 5.0
Proposals 221 167 174 32.3 27.0 771 686 12.4
Saskatchewan 599 577 526 3.8 13.9 2,184 2,018 8.2
Bankruptcies 307 316 288 -2.8 6.6 1,156 1,175 -1.6
Proposals 292 261 238 11.9 22.7 1,028 843 21.9
Alberta 2,508 2,510 2,006 -0.1 25.0 9,319 8,291 12.4
Bankruptcies 1,085 1,133 921 -4.2 17.8 4,161 4,065 2.4
Proposals 1,423 1,377 1,085 3.3 31.2 5,158 4,226 22.1
British Columbia 2,959 3,046 2,876 -2.9 2.9 11,763 11,769 -0.1
Bankruptcies 1,417 1,545 1,554 -8.3 -8.8 5,971 6,866 -13.0
Proposals 1,542 1,501 1,322 2.7 16.6 5,792 4,903 18.1
Northwest Territories 11 10 8 10.0 37.5 45 51 -11.8
Bankruptcies 5 6 3 -16.7 66.7 25 27 -7.4
Proposals 6 4 5 50.0 20.0 20 24 -16.7
Yukon 13 6 11 116.7 18.2 39 42 -7.1
Bankruptcies 8 1 7 700.0 14.3 18 28 -35.7
Proposals 5 5 4 0.0 25.0 21 14 50.0
Nunavut 0 1 1 -100.0 -100.0 5 6 -16.7
Bankruptcies 0 1 0 -100.0 -- 4 3 33.3
Proposals 0 0 1 -- -100.0 1 3 -66.7
Canada 30,757 32,830 30,031 -6.3 2.4 124,839 121,880 2.4
Bankruptcies 16,299 17,864 16,617 -8.8 -1.9 66,830 68,707 -2.7
Proposals 14,458 14,966 13,414 -3.4 7.8 58,009 53,173 9.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q3 2015 Q2 2015 Q3 2014 Q2 2015 to Q3 2015 Q3 2014 to Q3 2015 09-30-2015 09-30-2014 % Change
Newfoundland and Labrador 459 506 378 -9.3 21.4 1,719 1,555 10.5
Bankruptcies 394 423 322 -6.9 22.4 1,447 1,374 5.3
Proposals 65 83 56 -21.7 16.1 272 181 50.3
Prince Edward Island 195 216 212 -9.7 -8.0 753 722 4.3
Bankruptcies 124 134 154 -7.5 -19.5 479 509 -5.9
Proposals 71 82 58 -13.4 22.4 274 213 28.6
Nova Scotia 1,291 1,386 1,376 -6.9 -6.2 5,169 5,060 2.2
Bankruptcies 896 1,012 986 -11.5 -9.1 3,653 3,603 1.4
Proposals 395 374 390 5.6 1.3 1,516 1,457 4.0
New Brunswick 1,176 1,209 1,135 -2.7 3.6 4,399 4,215 4.4
Bankruptcies 770 773 793 -0.4 -2.9 2,928 2,945 -0.6
Proposals 406 436 342 -6.9 18.7 1,471 1,270 15.8
Quebec 10,630 11,336 10,134 -6.2 4.9 43,650 40,865 6.8
Bankruptcies 6,078 6,574 5,932 -7.5 2.5 24,663 24,354 1.3
Proposals 4,552 4,762 4,202 -4.4 8.3 18,987 16,511 15.0
Ontario 9,577 10,568 10,051 -9.4 -4.7 39,991 41,785 -4.3
Bankruptcies 4,283 4,889 4,693 -12.4 -8.7 18,261 19,832 -7.9
Proposals 5,294 5,679 5,358 -6.8 -1.2 21,730 21,953 -1.0
Manitoba 526 526 499 0.0 5.4 2,045 1,876 9.0
Bankruptcies 310 361 329 -14.1 -5.8 1,286 1,202 7.0
Proposals 216 165 170 30.9 27.1 759 674 12.6
Saskatchewan 557 552 503 0.9 10.7 2,076 1,891 9.8
Bankruptcies 276 298 276 -7.4 0.0 1,079 1,102 -2.1
Proposals 281 254 227 10.6 23.8 997 789 26.4
Alberta 2,477 2,466 1,969 0.4 25.8 9,175 8,134 12.8
Bankruptcies 1,067 1,099 898 -2.9 18.8 4,056 3,956 2.5
Proposals 1,410 1,367 1,071 3.1 31.7 5,119 4,178 22.5
British Columbia 2,909 2,996 2,811 -2.9 3.5 11,567 11,504 0.5
Bankruptcies 1,375 1,507 1,502 -8.8 -8.5 5,824 6,663 -12.6
Proposals 1,534 1,489 1,309 3.0 17.2 5,743 4,841 18.6
Northwest Territories 11 10 8 10.0 37.5 45 51 -11.8
Bankruptcies 5 6 3 -16.7 66.7 25 27 -7.4
Proposals 6 4 5 50.0 20.0 20 24 -16.7
Yukon 13 6 11 116.7 18.2 38 42 -9.5
Bankruptcies 8 1 7 700.0 14.3 18 28 -35.7
Proposals 5 5 4 0.0 25.0 20 14 42.9
Nunavut 0 1 1 -100.0 -100.0 4 6 -33.3
Bankruptcies 0 1 0 -100.0 -- 3 3 0.0
Proposals 0 0 1 -- -100.0 1 3 -66.7
Canada 29,821 31,778 29,088 -6.2 2.5 120,631 117,706 2.5
Bankruptcies 15,586 17,078 15,895 -8.7 -1.9 63,722 65,598 -2.9
Proposals 14,235 14,700 13,193 -3.2 7.9 56,909 52,108 9.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q3 2015 Q2 2015 Q3 2014 Q2 2015 to Q3 2015 Q3 2014 to Q3 2015 09-30-2015 09-30-2014 % Change
Newfoundland and Labrador 8 6 3 33.3 166.7 32 24 33.3
Bankruptcies 6 6 3 0.0 100.0 28 21 33.3
Proposals 2 0 0 -- -- 4 3 33.3
Prince Edward Island 3 6 5 -50.0 -40.0 17 20 -15.0
Bankruptcies 2 5 3 -60.0 -33.3 13 14 -7.1
Proposals 1 1 2 0.0 -50.0 4 6 -33.3
Nova Scotia 21 36 19 -41.7 10.5 94 86 9.3
Bankruptcies 18 26 13 -30.8 38.5 67 56 19.6
Proposals 3 10 6 -70.0 -50.0 27 30 -10.0
New Brunswick 22 14 14 57.1 57.1 85 88 -3.4
Bankruptcies 17 10 12 70.0 41.7 59 71 -16.9
Proposals 5 4 2 25.0 150.0 26 17 52.9
Quebec 471 563 516 -16.3 -8.7 2,311 2,246 2.9
Bankruptcies 356 415 385 -14.2 -7.5 1,676 1,665 0.7
Proposals 115 148 131 -22.3 -12.2 635 581 9.3
Ontario 275 300 252 -8.3 9.1 1,179 1,099 7.3
Bankruptcies 215 228 214 -5.7 0.5 907 847 7.1
Proposals 60 72 38 -16.7 57.9 272 252 7.9
Manitoba 13 8 9 62.5 44.4 40 62 -35.5
Bankruptcies 8 6 5 33.3 60.0 28 50 -44.0
Proposals 5 2 4 150.0 25.0 12 12 0.0
Saskatchewan 42 25 23 68.0 82.6 108 127 -15.0
Bankruptcies 31 18 12 72.2 158.3 77 73 5.5
Proposals 11 7 11 57.1 0.0 31 54 -42.6
Alberta 31 44 37 -29.5 -16.2 144 157 -8.3
Bankruptcies 18 34 23 -47.1 -21.7 105 109 -3.7
Proposals 13 10 14 30.0 -7.1 39 48 -18.8
British Columbia 50 50 65 0.0 -23.1 196 265 -26.0
Bankruptcies 42 38 52 10.5 -19.2 147 203 -27.6
Proposals 8 12 13 -33.3 -38.5 49 62 -21.0
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 936 1,052 943 -11.0 -0.7 4,208 4,174 0.8
Bankruptcies 713 786 722 -9.3 -1.2 3,108 3,109 0.0
Proposals 223 266 221 -16.2 0.9 1,100 1,065 3.3
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