Insolvency Statistics in Canada—First Quarter of 2016

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 2016 Q4 2015 Q1 2015 Q4 2015 to Q1 2016 Q1 2015 to Q1 2016 03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 548 472 398 16.1 37.7 1,999 1,586 26.0
Bankruptcies 367 356 334 3.1 9.9 1,552 1,362 14.0
Proposals 181 116 64 56.0 182.8 447 224 99.6
Prince Edward Island 202 219 183 -7.8 10.4 841 747 12.6
Bankruptcies 124 145 121 -14.5 2.5 534 519 2.9
Proposals 78 74 62 5.4 25.8 307 228 34.6
Nova Scotia 1,294 1,364 1,227 -5.1 5.5 5,392 5,393 0.0
Bankruptcies 928 953 812 -2.6 14.3 3,833 3,823 0.3
Proposals 366 411 415 -10.9 -11.8 1,559 1,570 -0.7
New Brunswick 973 1,034 956 -5.9 1.8 4,428 4,391 0.8
Bankruptcies 645 672 631 -4.0 2.2 2,887 3,055 -5.5
Proposals 328 362 325 -9.4 0.9 1,541 1,336 15.3
Quebec 11,426 11,191 11,751 2.1 -2.8 45,617 44,806 1.8
Bankruptcies 6,345 6,430 6,370 -1.3 -0.4 26,198 26,095 0.4
Proposals 5,081 4,761 5,381 6.7 -5.6 19,419 18,711 3.8
Ontario 10,145 10,180 10,176 -0.3 -0.3 41,045 41,881 -2.0
Bankruptcies 4,276 4,673 4,554 -8.5 -6.1 18,564 19,780 -6.1
Proposals 5,869 5,507 5,622 6.6 4.4 22,481 22,101 1.7
Manitoba 617 561 502 10.0 22.9 2,251 2,039 10.4
Bankruptcies 326 312 293 4.5 11.3 1,323 1,283 3.1
Proposals 291 249 209 16.9 39.2 928 756 22.8
Saskatchewan 685 615 526 11.4 30.2 2,476 2,067 19.8
Bankruptcies 346 353 264 -2.0 31.1 1,322 1,130 17.0
Proposals 339 262 262 29.4 29.4 1,154 937 23.2
Alberta 3,234 2,672 2,254 21.0 43.5 10,924 8,594 27.1
Bankruptcies 1,409 1,140 1,017 23.6 38.5 4,767 3,954 20.6
Proposals 1,825 1,532 1,237 19.1 47.5 6,157 4,640 32.7
British Columbia 2,952 2,844 2,953 3.8 0.0 11,801 11,791 0.1
Bankruptcies 1,358 1,340 1,535 1.3 -11.5 5,660 6,436 -12.1
Proposals 1,594 1,504 1,418 6.0 12.4 6,141 5,355 14.7
Northwest Territories 10 23 8 -56.5 25.0 54 43 25.6
Bankruptcies 5 13 4 -61.5 25.0 29 23 26.1
Proposals 5 10 4 -50.0 25.0 25 20 25.0
Yukon 15 5 11 200.0 36.4 39 42 -7.1
Bankruptcies 7 2 7 250.0 0.0 18 22 -18.2
Proposals 8 3 4 166.7 100.0 21 20 5.0
Nunavut 5 3 1 66.7 400.0 9 5 80.0
Bankruptcies 2 1 0 100.0 -- 4 3 33.3
Proposals 3 2 1 50.0 200.0 5 2 150.0
Canada 32,106 31,183 30,946 3.0 3.7 126,876 123,385 2.8
Bankruptcies 16,138 16,390 15,942 -1.5 1.2 66,691 67,485 -1.2
Proposals 15,968 14,793 15,004 7.9 6.4 60,185 55,900 7.7
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2016 Q4 2015 Q1 2015 Q4 2015 to Q1 2016 Q1 2015 to Q1 2016 03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 543 465 392 16.8 38.5 1,973 1,559 26.6
Bankruptcies 364 351 330 3.7 10.3 1,532 1,338 14.5
Proposals 179 114 62 57.0 188.7 441 221 99.5
Prince Edward Island 201 216 179 -6.9 12.3 828 728 13.7
Bankruptcies 123 142 119 -13.4 3.4 523 505 3.6
Proposals 78 74 60 5.4 30.0 305 223 36.8
Nova Scotia 1,281 1,347 1,208 -4.9 6.0 5,305 5,314 -0.2
Bankruptcies 915 937 803 -2.3 13.9 3,760 3,770 -0.3
Proposals 366 410 405 -10.7 -9.6 1,545 1,544 0.1
New Brunswick 956 1,013 933 -5.6 2.5 4,354 4,307 1.1
Bankruptcies 633 652 619 -2.9 2.3 2,828 2,995 -5.6
Proposals 323 361 314 -10.5 2.9 1,526 1,312 16.3
Quebec 10,797 10,610 11,129 1.8 -3.0 43,373 42,412 2.3
Bankruptcies 5,853 5,983 5,904 -2.2 -0.9 24,488 24,368 0.5
Proposals 4,944 4,627 5,225 6.9 -5.4 18,885 18,044 4.7
Ontario 9,920 9,925 9,865 -0.1 0.6 39,990 40,754 -1.9
Bankruptcies 4,108 4,471 4,315 -8.1 -4.8 17,751 18,899 -6.1
Proposals 5,812 5,454 5,550 6.6 4.7 22,239 21,855 1.8
Manitoba 608 550 496 10.5 22.6 2,210 1,992 10.9
Bankruptcies 321 303 290 5.9 10.7 1,295 1,247 3.8
Proposals 287 247 206 16.2 39.3 915 745 22.8
Saskatchewan 649 584 505 11.1 28.5 2,342 1,968 19.0
Bankruptcies 318 330 251 -3.6 26.7 1,222 1,070 14.2
Proposals 331 254 254 30.3 30.3 1,120 898 24.7
Alberta 3,197 2,643 2,224 21.0 43.8 10,783 8,457 27.5
Bankruptcies 1,388 1,117 997 24.3 39.2 4,671 3,853 21.2
Proposals 1,809 1,526 1,227 18.5 47.4 6,112 4,604 32.8
British Columbia 2,894 2,768 2,907 4.6 -0.4 11,567 11,559 0.1
Bankruptcies 1,318 1,293 1,508 1.9 -12.6 5,493 6,257 -12.2
Proposals 1,576 1,475 1,399 6.8 12.7 6,074 5,302 14.6
Northwest Territories 10 23 8 -56.5 25.0 54 43 25.6
Bankruptcies 5 13 4 -61.5 25.0 29 23 26.1
Proposals 5 10 4 -50.0 25.0 25 20 25.0
Yukon 15 5 11 200.0 36.4 39 41 -4.9
Bankruptcies 7 2 7 250.0 0.0 18 22 -18.2
Proposals 8 3 4 166.7 100.0 21 19 10.5
Nunavut 5 3 1 66.7 400.0 9 4 125.0
Bankruptcies 2 1 0 100.0 -- 4 2 100.0
Proposals 3 2 1 50.0 200.0 5 2 150.0
Canada 31,076 30,152 29,858 3.1 4.1 122,827 119,138 3.1
Bankruptcies 15,355 15,595 15,147 -1.5 1.4 63,614 64,349 -1.1
Proposals 15,721 14,557 14,711 8.0 6.9 59,213 54,789 8.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2016 Q4 2015 Q1 2015 Q4 2015 to Q1 2016 Q1 2015 to Q1 2016 03-31-2016 03-31-2015 % Change
Newfoundland and Labrador 5 7 6 -28.6 -16.7 26 27 -3.7
Bankruptcies 3 5 4 -40.0 -25.0 20 24 -16.7
Proposals 2 2 2 0.0 0.0 6 3 100.0
Prince Edward Island 1 3 4 -66.7 -75.0 13 19 -31.6
Bankruptcies 1 3 2 -66.7 -50.0 11 14 -21.4
Proposals 0 0 2 -- -100.0 2 5 -60.0
Nova Scotia 13 17 19 -23.5 -31.6 87 79 10.1
Bankruptcies 13 16 9 -18.8 44.4 73 53 37.7
Proposals 0 1 10 -100.0 -100.0 14 26 -46.2
New Brunswick 17 21 23 -19.0 -26.1 74 84 -11.9
Bankruptcies 12 20 12 -40.0 0.0 59 60 -1.7
Proposals 5 1 11 400.0 -54.5 15 24 -37.5
Quebec 629 581 622 8.3 1.1 2,244 2,394 -6.3
Bankruptcies 492 447 466 10.1 5.6 1,710 1,727 -1.0
Proposals 137 134 156 2.2 -12.2 534 667 -19.9
Ontario 225 255 311 -11.8 -27.7 1,055 1,127 -6.4
Bankruptcies 168 202 239 -16.8 -29.7 813 881 -7.7
Proposals 57 53 72 7.5 -20.8 242 246 -1.6
Manitoba 9 11 6 -18.2 50.0 41 47 -12.8
Bankruptcies 5 9 3 -44.4 66.7 28 36 -22.2
Proposals 4 2 3 100.0 33.3 13 11 18.2
Saskatchewan 36 31 21 16.1 71.4 134 99 35.4
Bankruptcies 28 23 13 21.7 115.4 100 60 66.7
Proposals 8 8 8 0.0 0.0 34 39 -12.8
Alberta 37 29 30 27.6 23.3 141 137 2.9
Bankruptcies 21 23 20 -8.7 5.0 96 101 -5.0
Proposals 16 6 10 166.7 60.0 45 36 25.0
British Columbia 58 76 46 -23.7 26.1 234 232 0.9
Bankruptcies 40 47 27 -14.9 48.1 167 179 -6.7
Proposals 18 29 19 -37.9 -5.3 67 53 26.4
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Nunavut 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 1,030 1,031 1,088 -0.1 -5.3 4,049 4,247 -4.7
Bankruptcies 783 795 795 -1.5 -1.5 3,077 3,136 -1.9
Proposals 247 236 293 4.7 -15.7 972 1,111 -12.5
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