Insolvency Statistics in Canada—March 2018

Highlights

Read the report Insolvency Statistics in Canada—March 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 15.2% in March 2018 from the previous month. Bankruptcies increased by 10.5% and proposals increased by 19.1%.

The total number of insolvencies in March 2018 was 4.1% lower than the total number of insolvencies in March 2017. Consumer insolvencies decreased by 3.9%, while business insolvencies decreased by 10.6%.

For the 12-month period ending March 31, 2018, the total number of insolvencies decreased by 2.9% compared with the 12-month period ending March 31, 2017.

Consumer insolvencies for the 12-month period ending March 31, 2018, decreased by 2.8% compared with the
12-month period ending March 31, 2017. Consumer bankruptcies decreased by 8.9%, while consumer proposals increased by 3.1%. The proportion of proposals in consumer insolvencies increased to 53.4% during the 12-month period ending March 31, 2018, up from 50.3% during the 12-month period ending March 31, 2017. For the 12-month period ending March 31, 2018, consumer insolvency filings accounted for 97.1% of total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2018, decreased by 3.7% compared with the
12-month period ending March 31, 2017. The three sectors that registered the biggest decrease in the number of insolvencies were administrative and support, waste management and remediation services; retail trade; and professional, scientific and technical services. Other services (except public administration); and Manufacturing experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in March 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—March 2018.

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