Highlights
Insolvency Statistics in Canada — September 2011

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 1.6 percent in September 2011 from the previous month. Bankruptcies increased by 0.6 percent, whereas proposals increased by 3.4 percent.

The total number of insolvencies in September 2011 was 9.1 percent lower than the total number of insolvencies in September 2010. Consumer insolvencies have decreased by 9.4 percent, while business insolvencies have decreased by 1.2 percent.

For the 12-month period ending September 30, 2011, the total number of insolvencies decreased by 7.9 percent compared with the 12-month period ending September 30, 2010.

Consumer insolvencies for the 12-month period ending September 30, 2011, decreased by 7.8 percent compared with the 12-month period ending September 30, 2010. Consumer bankruptcies decreased by 14.2 percent, while consumer proposals increased by 7.0 percent. The proportion of proposals in consumer insolvencies increased to 35.3 percent during the 12-month period ending September 30, 2011, up from 30.4 percent during the 12-month period ending September 30, 2010. For the 12-month period ending September 30, 2011, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending September 30, 2011, fell by 12.8 percent compared with the 12-month period ending September 30, 2010. The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; transportation and warehousing; and professional, scientific and technical services.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings initiated in September 2011 were filed with the OSB. Please refer to CCAA Statistics in Canada – Third Quarter 2011. Note: The Insolvency Statistics in Canada – September 2011 report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

Read the report Insolvency Statistics in Canada – September 2011.