Insolvency Statistics in Canada—February 2019

Highlights

Read the report Insolvency Statistics in Canada—February 2019.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 3.5% in February 2019 compared to the previous month. Bankruptcies increased by 2% and proposals increased by 4.5%.

The total number of insolvencies in February 2019 was 5.1% higher than the total number of insolvencies in February 2018. Consumer insolvencies increased by 5.4%, while business insolvencies decreased by 5.1%.

For the 12-month period ending February 28, 2019, the total number of insolvencies increased by 3.2% compared with the 12-month period ending February 28, 2018.

Consumer insolvencies for the 12-month period ending February 28, 2019, increased by 3.3% compared with the 12-month period ending February 28, 2018. Consumer bankruptcies decreased by 4.7%, while consumer proposals increased by 10.5%. The proportion of proposals in consumer insolvencies increased to 56.6% during the 12-month period ending February 28, 2019, up from 52.9% during the 12-month period ending February 28, 2018. For the 12-month period ending February 28, 2019, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending February 28, 2019, decreased by 1.6% compared with the 12-month period ending February 28, 2018. The two sectors that registered the biggest decrease in the number of insolvencies were manufacturing; and arts, entertainment and recreation. Administrative and support, waste management and remediation services; and retail trade experienced the biggest increase in insolvencies.

Seven Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in February 2019. 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 2019.

Date modified: