Insolvency Statistics in Canada—February 2018

Highlights

Read the report Insolvency Statistics in Canada—February 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 5.6% in February 2018 from the previous month. Bankruptcies increased by 10.3% and proposals increased by 1.9%.

The total number of insolvencies in February 2018 was 0.8% lower than the total number of insolvencies in February 2017. Consumer insolvencies decreased by 0.9%, while business insolvencies increased by 1.5%.

For the 12-month period ending February 28, 2018, the total number of insolvencies decreased by 2.4% compared with the 12-month period ending February 28, 2017.

Consumer insolvencies for the 12-month period ending February 28, 2018, decreased by 2.4% compared with the
12-month period ending February 28, 2017. Consumer bankruptcies decreased by 7.8%, while consumer proposals increased by 3.1%. The proportion of proposals in consumer insolvencies increased to 52.9% during the 12-month period ending February 28, 2018, up from 50.1% during the 12-month period ending February 28, 2017. For the
12-month period ending February 28, 2018, consumer insolvency filings accounted for 97.1% of total insolvency filings.

Business insolvencies for the 12-month period ending February 28, 2018, decreased by 2.8% compared with the
12-month period ending February 28, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were administrative and support, waste management and remediation services; and retail trade. Manufacturing; and other services (except public administration) experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in February 2018. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.

Read the report Insolvency Statistics in Canada—February 2018

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