Insolvency Statistics in Canada—July 2018

Highlights

Read the report Insolvency Statistics in Canada—July 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 6.1% in July 2018 compared to the previous month. Bankruptcies decreased by 5.1% and proposals decreased by 6.9%.

The total number of insolvencies in July 2018 was 5.9% higher than the total number of insolvencies in July 2017. Consumer insolvencies increased by 6.0%, while business insolvencies increased by 2.0%.

For the 12-month period ending July 31, 2018, the total number of insolvencies increased by 0.1% compared with the 12-month period ending July 31, 2017.

Consumer insolvencies for the 12-month period ending July 31, 2018, increased by 0.2% compared with the 12-month period ending July 31, 2017. Consumer bankruptcies decreased by 6.8%, while consumer proposals increased by 6.8%. The proportion of proposals in consumer insolvencies increased to 54.6% during the 12-month period ending July 31, 2018, up from 51.2% during the 12-month period ending July 31, 2017. For the 12-month period ending July 31, 2018, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending July 31, 2018, decreased by 3.5% compared with the 12-month period ending July 31, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were administrative and support, waste management and remediation services; and mining, oil and gas extraction. Other services (except public administration); and arts, entertainment and recreation experienced the biggest increase in insolvencies.

Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in July 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—July 2018.

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