Insolvency Statistics in Canada—Fourth 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.
Proposition:
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 2016 Q3 2016 Q4 2015 Q3 2016 to Q4 2016 Q4 2015 to Q4 2016 12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 577 601 472 -4.0 22.2 2,427 1,849 31.3
Bankruptcies 362 386 356 -6.2 1.7 1,574 1,519 3.6
Proposals 215 215 116 0.0 85.3 853 330 158.5
Prince Edward Island 196 209 219 -6.2 -10.5 815 822 -0.9
Bankruptcies 125 134 145 -6.7 -13.8 507 531 -4.5
Proposals 71 75 74 -5.3 -4.1 308 291 5.8
Nova Scotia 1,465 1,593 1,364 -8.0 7.4 6,023 5,325 13.1
Bankruptcies 1,035 1,090 953 -5.0 8.6 4,254 3,717 14.4
Proposals 430 503 411 -14.5 4.6 1,769 1,608 10.0
New Brunswick 1,165 1,111 1,034 4.9 12.7 4,501 4,411 2.0
Bankruptcies 741 715 672 3.6 10.3 2,949 2,873 2.6
Proposals 424 396 362 7.1 17.1 1,552 1,538 0.9
Quebec 10,811 10,726 11,191 0.8 -3.4 45,206 45,942 -1.6
Bankruptcies 6,271 6,157 6,430 1.9 -2.5 25,901 26,223 -1.2
Proposals 4,540 4,569 4,761 -0.6 -4.6 19,305 19,719 -2.1
Ontario 9,660 9,694 10,180 -0.4 -5.1 40,551 41,076 -1.3
Bankruptcies 4,186 4,178 4,673 0.2 -10.4 17,595 18,842 -6.6
Proposals 5,474 5,516 5,507 -0.8 -0.6 22,956 22,234 3.2
Manitoba 674 635 561 6.1 20.1 2,659 2,136 24.5
Bankruptcies 371 361 312 2.8 18.9 1,482 1,290 14.9
Proposals 303 274 249 10.6 21.7 1,177 846 39.1
Saskatchewan 780 789 615 -1.1 26.8 3,077 2,317 32.8
Bankruptcies 376 371 353 1.3 6.5 1,512 1,240 21.9
Proposals 404 418 262 -3.3 54.2 1,565 1,077 45.3
Alberta 3,267 3,278 2,672 -0.3 22.3 13,338 9,944 34.1
Bankruptcies 1,350 1,305 1,140 3.4 18.4 5,548 4,375 26.8
Proposals 1,917 1,973 1,532 -2.8 25.1 7,790 5,569 39.9
British Columbia 2,444 2,595 2,844 -5.8 -14.1 11,005 11,802 -6.8
Bankruptcies 1,056 1,125 1,340 -6.1 -21.2 4,868 5,837 -16.6
Proposals 1,388 1,470 1,504 -5.6 -7.7 6,137 5,965 2.9
Northwest Territories 17 19 23 -10.5 -26.1 60 52 15.4
Bankruptcies 12 9 13 33.3 -7.7 35 28 25.0
Proposals 5 10 10 -50.0 -50.0 25 24 4.2
Yukon 9 13 5 -30.8 80.0 55 35 57.1
Bankruptcies 3 7 2 -57.1 50.0 27 18 50.0
Proposals 6 6 3 0.0 100.0 28 17 64.7
Nunavut 2 1 3 100.0 -33.3 10 5 100.0
Bankruptcies 0 1 1 -100.0 -100.0 4 2 100.0
Proposals 2 0 2 -- 0.0 6 3 100.0
Canada 31,067 31,264 31,183 -0.6 -0.4 129,727 125,716 3.2
Bankruptcies 15,888 15,839 16,390 0.3 -3.1 66,256 66,495 -0.4
Proposals 15,179 15,425 14,793 -1.6 2.6 63,471 59,221 7.2
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2016 Q3 2016 Q4 2015 Q3 2016 to Q4 2016 Q4 2015 to Q4 2016 12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 567 595 465 -4.7 21.9 2,399 1,822 31.7
Bankruptcies 353 381 351 -7.3 0.6 1,552 1,498 3.6
Proposals 214 214 114 0.0 87.7 847 324 161.4
Prince Edward Island 195 206 216 -5.3 -9.7 802 806 -0.5
Bankruptcies 125 131 142 -4.6 -12.0 500 519 -3.7
Proposals 70 75 74 -6.7 -5.4 302 287 5.2
Nova Scotia 1,447 1,574 1,347 -8.1 7.4 5,948 5,232 13.7
Bankruptcies 1,022 1,073 937 -4.8 9.1 4,191 3,648 14.9
Proposals 425 501 410 -15.2 3.7 1,757 1,584 10.9
New Brunswick 1,152 1,097 1,013 5.0 13.7 4,442 4,331 2.6
Bankruptcies 730 704 652 3.7 12.0 2,904 2,814 3.2
Proposals 422 393 361 7.4 16.9 1,538 1,517 1.4
Quebec 10,285 10,249 10,610 0.4 -3.1 43,009 43,705 -1.6
Bankruptcies 5,871 5,805 5,983 1.1 -1.9 24,241 24,539 -1.2
Proposals 4,414 4,444 4,627 -0.7 -4.6 18,768 19,166 -2.1
Ontario 9,435 9,477 9,925 -0.4 -4.9 39,611 39,935 -0.8
Bankruptcies 4,023 4,011 4,471 0.3 -10.0 16,904 17,958 -5.9
Proposals 5,412 5,466 5,454 -1.0 -0.8 22,707 21,977 3.3
Manitoba 660 625 550 5.6 20.0 2,607 2,098 24.3
Bankruptcies 364 352 303 3.4 20.1 1,448 1,264 14.6
Proposals 296 273 247 8.4 19.8 1,159 834 39.0
Saskatchewan 752 764 584 -1.6 28.8 2,960 2,198 34.7
Bankruptcies 354 350 330 1.1 7.3 1,421 1,155 23.0
Proposals 398 414 254 -3.9 56.7 1,539 1,043 47.6
Alberta 3,204 3,243 2,643 -1.2 21.2 13,170 9,810 34.3
Bankruptcies 1,306 1,278 1,117 2.2 16.9 5,427 4,280 26.8
Proposals 1,898 1,965 1,526 -3.4 24.4 7,743 5,530 40.0
British Columbia 2,398 2,553 2,768 -6.1 -13.4 10,806 11,580 -6.7
Bankruptcies 1,022 1,095 1,293 -6.7 -21.0 4,719 5,683 -17.0
Proposals 1,376 1,458 1,475 -5.6 -6.7 6,087 5,897 3.2
Northwest Territories 17 19 23 -10.5 -26.1 60 52 15.4
Bankruptcies 12 9 13 33.3 -7.7 35 28 25.0
Proposals 5 10 10 -50.0 -50.0 25 24 4.2
Yukon 9 13 5 -30.8 80.0 55 35 57.1
Bankruptcies 3 7 2 -57.1 50.0 27 18 50.0
Proposals 6 6 3 0.0 100.0 28 17 64.7
Nunavut 2 1 3 100.0 -33.3 9 5 80.0
Bankruptcies 0 1 1 -100.0 -100.0 3 2 50.0
Proposals 2 0 2 -- 0.0 6 3 100.0
Canada 30,123 30,416 30,152 -1.0 -0.1 125,878 121,609 3.5
Bankruptcies 15,185 15,197 15,595 -0.1 -2.6 63,372 63,406 -0.1
Proposals 14,938 15,219 14,557 -1.8 2.6 62,506 58,203 7.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2016 Q3 2016 Q4 2015 Q3 2016 to Q4 2016 Q4 2015 to Q4 2016 12-31-2016 12-31-2015 % Change
Newfoundland and Labrador 10 6 7 66.7 42.9 28 27 3.7
Bankruptcies 9 5 5 80.0 80.0 22 21 4.8
Proposals 1 1 2 0.0 -50.0 6 6 0.0
Prince Edward Island 1 3 3 -66.7 -66.7 13 16 -18.8
Bankruptcies 0 3 3 -100.0 -100.0 7 12 -41.7
Proposals 1 0 0 -- -- 6 4 50.0
Nova Scotia 18 19 17 -5.3 5.9 75 93 -19.4
Bankruptcies 13 17 16 -23.5 -18.8 63 69 -8.7
Proposals 5 2 1 150.0 400.0 12 24 -50.0
New Brunswick 13 14 21 -7.1 -38.1 59 80 -26.3
Bankruptcies 11 11 20 0.0 -45.0 45 59 -23.7
Proposals 2 3 1 -33.3 100.0 14 21 -33.3
Quebec 526 477 581 10.3 -9.5 2,197 2,237 -1.8
Bankruptcies 400 352 447 13.6 -10.5 1,660 1,684 -1.4
Proposals 126 125 134 0.8 -6.0 537 553 -2.9
Ontario 225 217 255 3.7 -11.8 940 1,141 -17.6
Bankruptcies 163 167 202 -2.4 -19.3 691 884 -21.8
Proposals 62 50 53 24.0 17.0 249 257 -3.1
Manitoba 14 10 11 40.0 27.3 52 38 36.8
Bankruptcies 7 9 9 -22.2 -22.2 34 26 30.8
Proposals 7 1 2 600.0 250.0 18 12 50.0
Saskatchewan 28 25 31 12.0 -9.7 117 119 -1.7
Bankruptcies 22 21 23 4.8 -4.3 91 85 7.1
Proposals 6 4 8 50.0 -25.0 26 34 -23.5
Alberta 63 35 29 80.0 117.2 168 134 25.4
Bankruptcies 44 27 23 63.0 91.3 121 95 27.4
Proposals 19 8 6 137.5 216.7 47 39 20.5
British Columbia 46 42 76 9.5 -39.5 199 222 -10.4
Bankruptcies 34 30 47 13.3 -27.7 149 154 -3.2
Proposals 12 12 29 0.0 -58.6 50 68 -26.5
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 944 848 1,031 11.3 -8.4 3,849 4,107 -6.3
Bankruptcies 703 642 795 9.5 -11.6 2,884 3,089 -6.6
Proposals 241 206 236 17.0 2.1 965 1,018 -5.2
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