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Archived — Insolvency Statistics in Canada—October 2011

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Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

Definitions

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 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.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
Oct. 2011 Sept. 2011 Oct. 2010 Sept. 2011 to Oct. 2011 Oct. 2010 to Oct. 2011 10-31-2011 10-31-2010 % Change
Newfoundland and Labrador 179 163 215 9.8 -16.7 2,229 2,493 -10.6
Bankruptcies 173 156 208 10.9 -16.8 2,102 2,354 -10.7
Proposals 6 7 7 -14.3 -14.3 127 139 -8.6
Prince Edward Island 55 50 53 10.0 3.8 657 605 8.6
Bankruptcies 44 36 46 22.2 -4.3 567 529 7.2
Proposals 11 14 7 -21.4 57.1 90 76 18.4
Nova Scotia 363 419 445 -13.4 -18.4 4,817 5,275 -8.7
Bankruptcies 278 314 357 -11.5 -22.1 3,824 4,321 -11.5
Proposals 85 105 88 -19.0 -3.4 993 954 4.1
New Brunswick 346 313 257 10.5 34.6 3,624 3,761 -3.6
Bankruptcies 266 254 212 4.7 25.5 2,966 3,135 -5.4
Proposals 80 59 45 35.6 77.8 658 626 5.1
Quebec 3,150 3,198 3,393 -1.5 -7.2 38,169 39,891 -4.3
Bankruptcies 2,278 2,321 2,629 -1.9 -13.4 27,629 29,743 -7.1
Proposals 872 877 764 -0.6 14.1 10,540 10,148 3.9
Ontario 4,147 4,371 4,918 -5.1 -15.7 52,900 59,675 -11.4
Bankruptcies 2,129 2,275 2,785 -6.4 -23.6 27,604 36,076 -23.5
Proposals 2,018 2,096 2,133 -3.7 -5.4 25,296 23,599 7.2
Manitoba 202 187 222 8.0 -9.0 2,350 2,769 -15.1
Bankruptcies 138 122 164 13.1 -15.9 1,683 2,088 -19.4
Proposals 64 65 58 -1.5 10.3 667 681 -2.1
Saskatchewan 174 188 192 -7.4 -9.4 2,281 2,489 -8.4
Bankruptcies 103 116 119 -11.2 -13.4 1,428 1,656 -13.8
Proposals 71 72 73 -1.4 -2.7 853 833 2.4
Alberta 836 799 968 4.6 -13.6 10,491 11,414 -8.1
Bankruptcies 545 548 724 -0.5 -24.7 7,445 8,663 -14.1
Proposals 291 251 244 15.9 19.3 3,046 2,751 10.7
British Columbia 915 1,018 1,142 -10.1 -19.9 12,118 12,854 -5.7
Bankruptcies 604 663 884 -8.9 -31.7 8,599 9,842 -12.6
Proposals 311 355 258 -12.4 20.5 3,519 3,012 16.8
Northwest Territories 1 3 5 -66.7 -80.0 43 43 0.0
Bankruptcies 1 2 5 -50.0 -80.0 28 31 -9.7
Proposals 0 1 0 -100.0 -- 15 12 25.0
Yukon 1 3 1 -66.7 0.0 46 38 21.1
Bankruptcies 1 3 1 -66.7 0.0 40 29 37.9
Proposals 0 0 0 -- -- 6 9 -33.3
Nunavut 0 0 2 -- -100.0 8 4 100.0
Bankruptcies 0 0 2 -- -100.0 7 3 133.3
Proposals 0 0 0 -- -- 1 1 0.0
CanadaFootnote 1 10,369 10,712 11,813 -3.2 -12.2 129,733 141,311 -8.2
BankruptciesFootnote 1 6,560 6,810 8,136 -3.7 -19.4 83,922 98,470 -14.8
ProposalsFootnote 1 3,809 3,902 3,677 -2.4 3.6 45,811 42,841 6.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
October 2011 September 2011 October 2010 September 2011 to October 2011 October 2010 to October 2011 10-31-2011 10-31-2010 % Change
Newfoundland and Labrador 175 160 214 9.4 -18.2 2,196 2,474 -11.2
Bankruptcies 171 153 207 11.8 -17.4 2,073 2,335 -11.2
Proposals 4 7 7 -42.9 -42.9 123 139 -11.5
Prince Edward Island 51 48 46 6.3 10.9 640 581 10.2
Bankruptcies 40 34 42 17.6 -4.8 553 510 8.4
Proposals 11 14 4 -21.4 175.0 87 71 22.5
Nova Scotia 355 414 432 -14.3 -17.8 4,686 5,105 -8.2
Bankruptcies 271 309 345 -12.3 -21.4 3,712 4,182 -11.2
Proposals 84 105 87 -20.0 -3.4 974 923 5.5
New Brunswick 345 301 247 14.6 39.7 3,561 3,669 -2.9
Bankruptcies 265 244 204 8.6 29.9 2,919 3,059 -4.6
Proposals 80 57 43 40.4 86.0 642 610 5.2
Quebec 2,964 3,014 3,245 -1.7 -8.7 36,036 37,767 -4.6
Bankruptcies 2,140 2,198 2,513 -2.6 -14.8 26,038 28,228 -7.8
Proposals 824 816 732 1.0 12.6 9,998 9,539 4.8
Ontario 4,028 4,249 4,790 -5.2 -15.9 51,273 57,754 -11.2
Bankruptcies 2,045 2,176 2,685 -6.0 -23.8 26,312 34,486 -23.7
Proposals 1,983 2,073 2,105 -4.3 -5.8 24,961 23,268 7.3
Manitoba 192 181 214 6.1 -10.3 2,284 2,684 -14.9
Bankruptcies 129 116 157 11.2 -17.8 1,628 2,019 -19.4
Proposals 63 65 57 -3.1 10.5 656 665 -1.4
Saskatchewan 165 171 181 -3.5 -8.8 2,121 2,331 -9.0
Bankruptcies 97 105 111 -7.6 -12.6 1,320 1,553 -15.0
Proposals 68 66 70 3.0 -2.9 801 778 3.0
Alberta 798 767 936 4.0 -14.7 10,128 10,949 -7.5
Bankruptcies 515 525 700 -1.9 -26.4 7,155 8,284 -13.6
Proposals 283 242 236 16.9 19.9 2,973 2,665 11.6
British Columbia 893 996 1,129 -10.3 -20.9 11,868 12,567 -5.6
Bankruptcies 584 645 872 -9.5 -33.0 8,400 9,609 -12.6
Proposals 309 351 257 -12.0 20.2 3,468 2,958 17.2
Northwest Territories 1 3 5 -66.7 -80.0 41 42 -2.4
Bankruptcies 1 2 5 -50.0 -80.0 28 31 -9.7
Proposals 0 1 0 -100.0 -- 13 11 18.2
Yukon 1 3 1 -66.7 0.0 44 35 25.7
Bankruptcies 1 3 1 -66.7 0.0 39 29 34.5
Proposals 0 0 0 -- -- 5 6 -16.7
Nunavut 0 0 2 -- -100.0 8 4 100.0
Bankruptcies 0 0 2 -- -100.0 7 3 133.3
Proposals 0 0 0 -- -- 1 1 0.0
Canada 9,968 10,307 11,442 -3.3 -12.9 124,886 135,962 -8.1
Bankruptcies 6,259 6,510 7,844 -3.9 -20.2 80,184 94,328 -15.0
Proposals 3,709 3,797 3,598 -2.3 3.1 44,702 41,634 7.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
October 2011 September 2011 October 2010 September 2011 to October 2011 October 2010 to October 2011 10-31-2011 10-31-2010 % Change
Newfoundland and Labrador 4 3 1 33.3 300.0 33 19 73.7
Bankruptcies 2 3 1 -33.3 100.0 29 19 52.6
Proposals 2 0 0 -- -- 4 0 --
Prince Edward Island 4 2 7 100.0 -42.9 17 24 -29.2
Bankruptcies 4 2 4 100.0 0.0 14 19 -26.3
Proposals 0 0 3 -- -100.0 3 5 -40.0
Nova Scotia 8 5 13 60.0 -38.5 131 170 -22.9
Bankruptcies 7 5 12 40.0 -41.7 112 139 -19.4
Proposals 1 0 1 -- 0.0 19 31 -38.7
New Brunswick 1 12 10 -91.7 -90.0 63 92 -31.5
Bankruptcies 1 10 8 -90.0 -87.5 47 76 -38.2
Proposals 0 2 2 -100.0 -100.0 16 16 0.0
Quebec 186 184 148 1.1 25.7 2,133 2,124 0.4
Bankruptcies 138 123 116 12.2 19.0 1,591 1,515 5.0
Proposals 48 61 32 -21.3 50.0 542 609 -11.0
Ontario 119 122 128 -2.5 -7.0 1,627 1,921 -15.3
Bankruptcies 84 99 100 -15.2 -16.0 1,292 1,590 -18.7
Proposals 35 23 28 52.2 25.0 335 331 1.2
Manitoba 10 6 8 66.7 25.0 66 85 -22.4
Bankruptcies 9 6 7 50.0 28.6 55 69 -20.3
Proposals 1 0 1 -- 0.0 11 16 -31.3
Saskatchewan 9 17 11 -47.1 -18.2 160 158 1.3
Bankruptcies 6 11 8 -45.5 -25.0 108 103 4.9
Proposals 3 6 3 -50.0 0.0 52 55 -5.5
Alberta 38 32 32 18.8 18.8 363 465 -21.9
Bankruptcies 30 23 24 30.4 25.0 290 379 -23.5
Proposals 8 9 8 -11.1 0.0 73 86 -15.1
British Columbia 22 22 13 0.0 69.2 250 287 -12.9
Bankruptcies 20 18 12 11.1 66.7 199 233 -14.6
Proposals 2 4 1 -50.0 100.0 51 54 -5.6
Northwest Territories 0 0 0 -- -- 2 1 100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 2 1 100.0
Yukon 0 0 0 -- -- 2 3 -33.3
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 1 3 -66.7
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
CanadaFootnote 1 401 405 371 -1.0 8.1 4,847 5,349 -9.4
BankruptciesFootnote 1 301 300 292 0.3 3.1 3,738 4,142 -9.8
ProposalsFootnote 1 100 105 79 -4.8 26.6 1,109 1,207 -8.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Octobe r 2011 September 2011 October 2010 September 2011 to October 2011 October 2010 to October 2011 10-31-2011 10-31-2010 % Change
Agriculture, Forestry, Fishing and Hunting 7 15 14 -53.3 -50.0 135 159 -15.1
Bankruptcies 7 11 8 -36.4 -12.5 93 116 -19.8
Proposals 0 4 6 -100.0 -100.0 42 43 -2.3
Mining and Oil and Gas Extraction 3 3 4 0.0 -25.0 31 65 -52.3
Bankruptcies 1 1 2 0.0 -50.0 22 42 -47.6
Proposals 2 2 2 0.0 0.0 9 23 -60.9
Utilities 1 0 0 -- -- 12 13 -7.7
Bankruptcies 1 0 0 -- -- 8 13 -38.5
Proposals 0 0 0 -- -- 4 0 --
Construction 74 72 59 2.8 25.4 826 867 -4.7
Bankruptcies 55 53 50 3.8 10.0 654 686 -4.7
Proposals 19 19 9 0.0 111.1 172 181 -5.0
Manufacturing 66 34 45 94.1 46.7 545 581 -6.2
Bankruptcies 49 23 30 113.0 63.3 385 450 -14.4
Proposals 17 11 15 54.5 13.3 160 131 22.1
Wholesale Trade 19 16 19 18.8 0.0 273 295 -7.5
Bankruptcies 15 12 17 25.0 -11.8 212 231 -8.2
Proposals 4 4 2 0.0 100.0 61 64 -4.7
Retail Trade 56 58 65 -3.4 -13.8 658 769 -14.4
Bankruptcies 46 46 54 0.0 -14.8 527 626 -15.8
Proposals 10 12 11 -16.7 -9.1 131 143 -8.4
Transportation and Warehousing 13 28 27 -53.6 -51.9 319 428 -25.5
Bankruptcies 9 22 19 -59.1 -52.6 264 348 -24.1
Proposals 4 6 8 -33.3 -50.0 55 80 -31.3
Information and Cultural Industries 6 7 3 -14.3 100.0 85 86 -1.2
Bankruptcies 5 4 2 25.0 150.0 55 58 -5.2
Proposals 1 3 1 -66.7 0.0 30 28 7.1
Finance and Insurance 6 7 12 -14.3 -50.0 109 105 3.8
Bankruptcies 3 4 10 -25.0 -70.0 81 87 -6.9
Proposals 3 3 2 0.0 50.0 28 18 55.6
Real Estate and Rental and Leasing 11 5 14 120.0 -21.4 151 187 -19.3
Bankruptcies 8 5 12 60.0 -33.3 119 128 -7.0
Proposals 3 0 2 -- 50.0 32 59 -45.8
Professional, Scientific and Technical Services 28 26 13 7.7 115.4 294 345 -14.8
Bankruptcies 22 16 6 37.5 266.7 211 247 -14.6
Proposals 6 10 7 -40.0 -14.3 83 98 -15.3
Management of Companies and Enterprises 4 5 2 -20.0 100.0 55 70 -21.4
Bankruptcies 4 3 2 33.3 100.0 46 48 -4.2
Proposals 0 2 0 -100.0 -- 9 22 -59.1
Administrative and Support, Waste Management and Remediation Services 21 30 17 -30.0 23.5 214 218 -1.8
Bankruptcies 18 22 15 -18.2 20.0 177 164 7.9
Proposals 3 8 2 -62.5 50.0 37 54 -31.5
Educational Services 3 2 1 50.0 200.0 35 39 -10.3
Bankruptcies 3 1 1 200.0 200.0 25 30 -16.7
Proposals 0 1 0 -100.0 -- 10 9 11.1
Health Care and Social Assistance 5 7 3 -28.6 66.7 81 66 22.7
Bankruptcies 2 7 2 -71.4 0.0 60 49 22.4
Proposals 3 0 1 -- 200.0 21 17 23.5
Arts, Entertainment and Recreation 4 10 2 -60.0 100.0 91 101 -9.9
Bankruptcies 3 8 2 -62.5 50.0 78 81 -3.7
Proposals 1 2 0 -50.0 -- 13 20 -35.0
Accommodation and Food Services 57 59 41 -3.4 39.0 637 653 -2.5
Bankruptcies 37 45 32 -17.8 15.6 490 484 1.2
Proposals 20 14 9 42.9 122.2 147 169 -13.0
Other Services (except Public Administration) 17 20 30 -15.0 -43.3 290 294 -1.4
Bankruptcies 13 17 28 -23.5 -53.6 228 248 -8.1
Proposals 4 3 2 33.3 100.0 62 46 34.8
Public Administration 0 1 0 -100.0 -- 5 8 -37.5
Bankruptcies 0 0 0 -- -- 2 6 -66.7
Proposals 0 1 0 -100.0 -- 3 2 50.0
TotalFootnote 1 401 405 371 -1.0 8.1 4,847 5,349 -9.4
BankruptciesFootnote 1 301 300 292 0.3 3.1 3,738 4,142 -9.8
ProposalsFootnote 1 100 105 79 -4.8 26.6 1,109 1,207 -8.1
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