Insolvency Statistics in Canada—October 2018

Highlights

Read the report Insolvency Statistics in Canada—October 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 16.2% in October 2018 compared to the previous month. Bankruptcies increased by 13.6% and proposals decreased by 18.4%.

The total number of insolvencies in October 2018 was 8.9% higher than the total number of insolvencies in October 2017. Consumer insolvencies increased by 9.2%, while business insolvencies decreased by 2.1%.

For the 12-month period ending October 31, 2018, the total number of insolvencies increased by 1.4% compared with the 12-month period ending October 31, 2017.

Consumer insolvencies for the 12-month period ending October 31, 2018, increased by 1.5% compared with the 12-month period ending October 31, 2017. Consumer bankruptcies decreased by 5.7%, while consumer proposals increased by 8.1%. The proportion of proposals in consumer insolvencies increased to 55.5% during the 12-month period ending October 31, 2018, up from 51.9% during the 12-month period ending October 31, 2017. For the 12-month period ending October 31, 2018, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending October 31, 2018, decreased by 2.0% compared with the 12-month period ending October 31, 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 management of companies and enterprises experienced the biggest increase in insolvencies.

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

Date modified: