Insolvency Statistics in Canada—September 2018

Highlights

Read the report Insolvency Statistics in Canada—September 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 4.3% in September 2018 compared to the previous month. Bankruptcies decreased by 3.2% and proposals decreased by 5.2%.

The total number of insolvencies in September 2018 was 0.7% lower than the total number of insolvencies in September 2017. Consumer insolvencies decreased by 1.2%, while business insolvencies increased by 17.5%.

For the 12-month period ending September 30, 2018, the total number of insolvencies increased by 0.8% compared with the 12-month period ending September 30, 2017.

Consumer insolvencies for the 12-month period ending September 30, 2018, increased by 0.9% compared with the 12-month period ending September 30, 2017. Consumer bankruptcies decreased by 6.3%, while consumer proposals increased by 7.6%. The proportion of proposals in consumer insolvencies increased to 55.0% during the 12-month period ending September 30, 2018, up from 51.6% during the 12-month period ending September 30, 2017. For the 12-month period ending September 30, 2018, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending September 30, 2018, decreased by 1.2% compared with the 12-month period ending September 30, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were mining, oil and gas extraction; and professional, scientific and technical services. Construction; and accommodation and food services experienced the biggest increase in insolvencies.

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

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