Insolvency Statistics in Canada—Fourth 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
Q4 2015 Q3 2015 Q4 2014 Q3 2015 to Q4 2015 Q4 2014 to Q4 2015 12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 472 467 374 1.1 26.2 1,849 1,575 17.4
Bankruptcies 356 400 312 -11.0 14.1 1,519 1,375 10.5
Proposals 116 67 62 73.1 87.1 330 200 65.0
Prince Edward Island 219 198 167 10.6 31.1 822 739 11.2
Bankruptcies 145 126 106 15.1 36.8 531 515 3.1
Proposals 74 72 61 2.8 21.3 291 224 29.9
Nova Scotia 1,364 1,312 1,302 4.0 4.8 5,325 5,304 0.4
Bankruptcies 953 914 956 4.3 -0.3 3,717 3,778 -1.6
Proposals 411 398 346 3.3 18.8 1,608 1,526 5.4
New Brunswick 1,034 1,198 1,107 -13.7 -6.6 4,411 4,395 0.4
Bankruptcies 672 787 786 -14.6 -14.5 2,873 3,089 -7.0
Proposals 362 411 321 -11.9 12.8 1,538 1,306 17.8
Quebec 11,191 11,101 11,210 0.8 -0.2 45,942 43,891 4.7
Bankruptcies 6,430 6,434 6,546 -0.1 -1.8 26,223 26,137 0.3
Proposals 4,761 4,667 4,664 2.0 2.1 19,719 17,754 11.1
Ontario 10,180 9,852 10,274 3.3 -0.9 41,076 42,198 -2.7
Bankruptcies 4,673 4,498 4,999 3.9 -6.5 18,842 20,069 -6.1
Proposals 5,507 5,354 5,275 2.9 4.4 22,234 22,129 0.5
Manitoba 561 539 510 4.1 10.0 2,136 1,948 9.7
Bankruptcies 312 318 336 -1.9 -7.1 1,290 1,248 3.4
Proposals 249 221 174 12.7 43.1 846 700 20.9
Saskatchewan 615 599 482 2.7 27.6 2,317 2,062 12.4
Bankruptcies 353 307 269 15.0 31.2 1,240 1,182 4.9
Proposals 262 292 213 -10.3 23.0 1,077 880 22.4
Alberta 2,672 2,508 2,047 6.5 30.5 9,944 8,422 18.1
Bankruptcies 1,140 1,085 926 5.1 23.1 4,375 3,964 10.4
Proposals 1,532 1,423 1,121 7.7 36.7 5,569 4,458 24.9
British Columbia 2,844 2,959 2,805 -3.9 1.4 11,802 11,639 1.4
Bankruptcies 1,340 1,417 1,474 -5.4 -9.1 5,837 6,545 -10.8
Proposals 1,504 1,542 1,331 -2.5 13.0 5,965 5,094 17.1
Northwest Territories 23 11 16 109.1 43.8 52 49 6.1
Bankruptcies 13 5 10 160.0 30.0 28 26 7.7
Proposals 10 6 6 66.7 66.7 24 23 4.3
Yukon 5 13 9 -61.5 -44.4 35 40 -12.5
Bankruptcies 2 8 2 -75.0 0.0 18 22 -18.2
Proposals 3 5 7 -40.0 -57.1 17 18 -5.6
Nunavut 3 0 3 -- 0.0 5 7 -28.6
Bankruptcies 1 0 3 -- -66.7 2 5 -60.0
Proposals 2 0 0 -- -- 3 2 50.0
Canada 31,183 30,757 30,306 1.4 2.9 125,716 122,269 2.8
Bankruptcies 16,390 16,299 16,725 0.6 -2.0 66,495 67,955 -2.1
Proposals 14,793 14,458 13,581 2.3 8.9 59,221 54,314 9.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2015 Q3 2015 Q4 2014 Q3 2015 to Q4 2015 Q4 2014 to Q4 2015 12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 465 459 362 1.3 28.5 1,822 1,545 17.9
Bankruptcies 351 394 300 -10.9 17.0 1,498 1,348 11.1
Proposals 114 65 62 75.4 83.9 324 197 64.5
Prince Edward Island 216 195 163 10.8 32.5 806 721 11.8
Bankruptcies 142 124 102 14.5 39.2 519 502 3.4
Proposals 74 71 61 4.2 21.3 287 219 31.1
Nova Scotia 1,347 1,291 1,284 4.3 4.9 5,232 5,227 0.1
Bankruptcies 937 896 942 4.6 -0.5 3,648 3,726 -2.1
Proposals 410 395 342 3.8 19.9 1,584 1,501 5.5
New Brunswick 1,013 1,176 1,081 -13.9 -6.3 4,331 4,308 0.5
Bankruptcies 652 770 766 -15.3 -14.9 2,814 3,021 -6.9
Proposals 361 406 315 -11.1 14.6 1,517 1,287 17.9
Quebec 10,610 10,630 10,555 -0.2 0.5 43,705 41,554 5.2
Bankruptcies 5,983 6,078 6,107 -1.6 -2.0 24,539 24,447 0.4
Proposals 4,627 4,552 4,448 1.6 4.0 19,166 17,107 12.0
Ontario 9,925 9,577 9,981 3.6 -0.6 39,935 41,108 -2.9
Bankruptcies 4,471 4,283 4,774 4.4 -6.3 17,958 19,234 -6.6
Proposals 5,454 5,294 5,207 3.0 4.7 21,977 21,874 0.5
Manitoba 550 526 497 4.6 10.7 2,098 1,891 10.9
Bankruptcies 303 310 325 -2.3 -6.8 1,264 1,200 5.3
Proposals 247 216 172 14.4 43.6 834 691 20.7
Saskatchewan 584 557 462 4.8 26.4 2,198 1,938 13.4
Bankruptcies 330 276 254 19.6 29.9 1,155 1,105 4.5
Proposals 254 281 208 -9.6 22.1 1,043 833 25.2
Alberta 2,643 2,477 2,008 6.7 31.6 9,810 8,281 18.5
Bankruptcies 1,117 1,067 893 4.7 25.1 4,280 3,859 10.9
Proposals 1,526 1,410 1,115 8.2 36.9 5,530 4,422 25.1
British Columbia 2,768 2,909 2,755 -4.8 0.5 11,580 11,383 1.7
Bankruptcies 1,293 1,375 1,434 -6.0 -9.8 5,683 6,345 -10.4
Proposals 1,475 1,534 1,321 -3.8 11.7 5,897 5,038 17.1
Northwest Territories 23 11 16 109.1 43.8 52 49 6.1
Bankruptcies 13 5 10 160.0 30.0 28 26 7.7
Proposals 10 6 6 66.7 66.7 24 23 4.3
Yukon 5 13 8 -61.5 -37.5 35 39 -10.3
Bankruptcies 2 8 2 -75.0 0.0 18 22 -18.2
Proposals 3 5 6 -40.0 -50.0 17 17 0.0
Nunavut 3 0 2 -- 50.0 5 6 -16.7
Bankruptcies 1 0 2 -- -50.0 2 4 -50.0
Proposals 2 0 0 -- -- 3 2 50.0
Canada 30,152 29,821 29,174 1.1 3.4 121,609 118,050 3.0
Bankruptcies 15,595 15,586 15,911 0.1 -2.0 63,406 64,839 -2.2
Proposals 14,557 14,235 13,263 2.3 9.8 58,203 53,211 9.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2015 Q3 2015 Q4 2014 Q3 2015 to Q4 2015 Q4 2014 to Q4 2015 12-31-2015 12-31-2014 % Change
Newfoundland and Labrador 7 8 12 -12.5 -41.7 27 30 -10.0
Bankruptcies 5 6 12 -16.7 -58.3 21 27 -22.2
Proposals 2 2 0 0.0 -- 6 3 100.0
Prince Edward Island 3 3 4 0.0 -25.0 16 18 -11.1
Bankruptcies 3 2 4 50.0 -25.0 12 13 -7.7
Proposals 0 1 0 -100.0 -- 4 5 -20.0
Nova Scotia 17 21 18 -19.0 -5.6 93 77 20.8
Bankruptcies 16 18 14 -11.1 14.3 69 52 32.7
Proposals 1 3 4 -66.7 -75.0 24 25 -4.0
New Brunswick 21 22 26 -4.5 -19.2 80 87 -8.0
Bankruptcies 20 17 20 17.6 0.0 59 68 -13.2
Proposals 1 5 6 -80.0 -83.3 21 19 10.5
Quebec 581 471 655 23.4 -11.3 2,237 2,337 -4.3
Bankruptcies 447 356 439 25.6 1.8 1,684 1,690 -0.4
Proposals 134 115 216 16.5 -38.0 553 647 -14.5
Ontario 255 275 293 -7.3 -13.0 1,141 1,090 4.7
Bankruptcies 202 215 225 -6.0 -10.2 884 835 5.9
Proposals 53 60 68 -11.7 -22.1 257 255 0.8
Manitoba 11 13 13 -15.4 -15.4 38 57 -33.3
Bankruptcies 9 8 11 12.5 -18.2 26 48 -45.8
Proposals 2 5 2 -60.0 0.0 12 9 33.3
Saskatchewan 31 42 20 -26.2 55.0 119 124 -4.0
Bankruptcies 23 31 15 -25.8 53.3 85 77 10.4
Proposals 8 11 5 -27.3 60.0 34 47 -27.7
Alberta 29 31 39 -6.5 -25.6 134 141 -5.0
Bankruptcies 23 18 33 27.8 -30.3 95 105 -9.5
Proposals 6 13 6 -53.8 0.0 39 36 8.3
British Columbia 76 50 50 52.0 52.0 222 256 -13.3
Bankruptcies 47 42 40 11.9 17.5 154 200 -23.0
Proposals 29 8 10 262.5 190.0 68 56 21.4
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 1 -- -100.0 0 1 -100.0
Nunavut 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 1 -- -100.0 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 1,031 936 1,132 10.1 -8.9 4,107 4,219 -2.7
Bankruptcies 795 713 814 11.5 -2.3 3,089 3,116 -0.9
Proposals 236 223 318 5.8 -25.8 1,018 1,103 -7.7
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