Insolvency Statistics in Canada—March 2019

Highlights

Read the report Insolvency Statistics in Canada—March 2019.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 16.0% in March 2019 compared to the previous month. Bankruptcies increased by 13.4% and proposals increased by 17.9%.

The total number of insolvencies in March 2019 was 5.8% higher than the total number of insolvencies in March 2018. Consumer insolvencies increased by 5.7%, while business insolvencies increased by 9.7%.

For the 12-month period ending March 31, 2019, the total number of insolvencies increased by 4.1% compared with the 12-month period ending March 31, 2018.

Consumer insolvencies for the 12-month period ending March 31, 2019, increased by 4.3% compared with the 12-month period ending March 31, 2018. Consumer bankruptcies decreased by 3.7%, while consumer proposals increased by 11.2%. The proportion of proposals in consumer insolvencies increased to 57.0% during the 12-month period ending March 31, 2019, up from 53.4% during the 12-month period ending March 31, 2018. For the 12-month period ending March 31, 2019, consumer insolvency filings accounted for 97.2% of total insolvency filings.

Business insolvencies for the 12-month period ending March 31, 2019, increased by 0.3% compared with the 12-month period ending March 31, 2018. The two sectors that registered the biggest increase in the number of insolvencies were transportation and warehousing; and construction. Accommodation and food services; and arts, entertainment and recreation experienced the biggest decrease in insolvencies.

Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in March 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—March 2019.

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