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CCAA Statistics—Fourth Quarter of 2020

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Definitions

CCAA
The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.
North American Industry Classification System (NAICS)
The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production- oriented economic concept.

Highlights

Six Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2020. Please refer to the CCAA Records List for additional details regarding each filing.

Company Name Province Sector Monitor Liabilities (in millions)

Cambridge Group Inc.

Ontario

Arts, entertainment and recreation

Grant Thornton Limited

$7.0

King Street Company Inc., The King Street Hospitality Group Inc., Bonta Trading Co. Inc., 2268218 Ontario Inc., 1733667 Ontario Limited, The King Street Food Company Inc., The King Street Restaurant Company Inc., 2112047 Ontario Ltd., Ji Yorkdale Inc., Ji Square One Inc., 1771669 Ontario Inc. , Cxbo Inc., 2608765 Ontario Inc., 2272224 Ontario Inc., 2327729 Ontario Inc., 2577053 Ontario Inc., 2584858 Ontario Inc., 2621298 Ontario Inc., 2641784 Ontario Inc., and 2656966 Ontario Inc.

Ontario

Accommodation and food services

MNP Ltd.

$45.1

Muskoka Grown Limited

Ontario

Agriculture, forestry, fishing and hunting

A. Farber & Partners Inc.

$11.1

Le Château Inc. and Château Stores Inc.

Quebec

Retail trade

PricewaterhouseCoopers Inc.

$198.1

Express Gold Refining Ltd.

Ontario

Manufacturing

Deloitte Restructuring Inc.

$43.5

Sunniva Inc., Sunniva Medical Inc., 111111035 Canada Inc. and 1167025 BC Ltd.

British Columbia

Agriculture, forestry, fishing and hunting

Alvarez & Marsal Canada Inc.

$90.1

Figure 1: Filings by regionFootnote *

Text version

This line graph presents the number of filings per quarter under the Companies' Creditors Arrangement Act (CCAA), broken down by the East, Ontario and West Regions from the fourth quarter of 2018 to the fourth quarter of 2020. The note to the table explains that East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec; Ontario Region includes Ontario; and West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon.

The x-axis represents the quarters for the data points, starting at the fourth quarter of 2018 and continuing for each quarter until the fourth quarter of 2020.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 2 until it reaches 14. The legend on the right side of the chart shows that East Region is represented by a blue line with diamonds to mark data points; Ontario Region is represented by a purple line with squares for data points; and the West Region is represented by a green line with triangles for data points.

For the fourth quarter of 2018, the East Region increased to 2 filings, the West Region remained at 2 filings, and the Ontario Region dropped to 1 filing. 

For the first quarter of 2019, the Ontario Region increased to 6 filings, the West Region increased to 4 filings, and the East Region increased to 3 filings.

For the second quarter of 2019, the Ontario Region and the West Region both dropped to 1 filing, and the East Region dropped to 2 filings.

For the third quarter of 2019, the West Region increased to 3 filings, the Ontario Region increased to 2 filings, and the East Region dropped to 1 filing.

For the fourth quarter of 2019, the West Region increased to 4 filings, the Ontario Region increased to 6 filings, and the East Region increased to 5 filings.

For the first quarter of 2020, the West Region remained at 4 filings, the Ontario Region dropped to 5 filings, and the East Region dropped to 2 filings.

For the second quarter of 2020, the West Region increased to 12 filings, the Ontario Region increased to 10 filings, and the East Region increased to 5 filings. 

For the third quarter of 2020, the East Region increased to 7 filings, the West Region dropped to 4 filings, and the Ontario Region dropped to 4 filings.

For the fourth quarter of 2020, the East Region and the West Region both dropped to 1 filing, and the Ontario Region remained to 4 filings.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the fourth quarter of 2020, British Columbia had 1 filing (17%), Quebec had 1 filing (17%), and Ontario had 4 filings (66%).

For more information, see Table 2: Total CCAA Proceedings Filed by Province.

Figure 2: Filings by NAICS economic sector

Text version

This bar graph breaks down filings under the Companies' Creditors Arrangement Act (CCAA) by economic sector as defined by the North American Industry Classification System (NAICS). The data is for the fourth quarter of 2020. 

The x-axis represents the sectors, which had filings in the fourth quarter of 2020. There are 5 sectors represented, each shown with a blue vertical bar. The 5 sectors represented in the fourth quarter of 2020 are as below:

  1. The manufacturing sector had 1 filing.
  2. The arts, entertainment and recreation sector had 1 filing.
  3. The accommodation and food services sector had 1 filing.
  4. The agriculture, forestry, fishing and hunting sector had 2 filings.
  5. The retail trade sector had 1 filing.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 7.

[Text in margin] The sector with the most filings this quarter was agriculture, forestry, fishing and hunting.

For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada

Recently closed filesFootnote *

Company Name Sector Monitor Outcome Duration of the Proceeding (in days) Liabilities (in millions)

Gestion Eric Savard Inc., et al.

Health care and social assistance

Raymond Chabot Inc.

Terminated – no compromise or arrangement sanctioned by court

1114

$40.8

Parkland Airport Development Corporation

Transportation and warehousing

Deloitte Restructuring Inc.

Terminated – no compromise or arrangement sanctioned by court

1163

$10.9

Comark Holdings Inc., Bootlegger Clothing Inc., Cleo Fashions Inc. and Ricki's Fashions Inc.

Retail trade

Alvarez & Marsal Canada Inc.

Taken up under BIA

78

$82.3

Energold Drilling Corp., Cros-Man Direct Underground Ltd., EGD Services Ltd., Bertram Drilling Corp., and Omniterra International Drilling Inc.

Mining, quarrying, and oil and gas extraction

FTI Consulting Canada Inc.

Concluded - compromise or arrangement completed

346

$47.1

Kraus Brands Inc., Kraus Canada Ltd., Kraus Carpet Inc., Kraus Properties Inc., Kraus USA Inc., Strudex Inc., Kraus Brands LP, Kraus Canada LP, Kraus Carpet LP, Kraus Properties LP, Strudex LP

Manufacturing

Deloitte Restructuring Inc.

Taken up under BIA

224

$180.4

Hush Homes Inc., Hush Inc., 2122763 Ontario Inc., 2142301 Ontario Inc., 2164566 Ontario Inc.

Construction

The Fuller Landau Group Inc.

Terminated – no compromise or arrangement sanctioned by court

2137

$68.8

Kolsy Homes Ltd. and Rivairo Capital Corporation

Construction

The Bowra Group Inc.

Terminated – no compromise or arrangement sanctioned by court

725

$11.4

The Futura Loyalty Group Inc.

Information and cultural industries

Harris & Partners Inc.

Terminated – no compromise or arrangement sanctioned by court

336

$10.6

Banro Corporation, Banro Group (Barbados) Limited, Banro Congo (Barbados) Limited, Namoya (Barbados) Limited, Lugushwa (Barbados) Limited, Twangiza (Barbados) Limited, Kamituga (Barbados) Limited

Finance and insurance

FTI Consulting Canada Inc.

Concluded - compromise or arrangement completed

957

$435.8

SFP Canada Ltd.

Retail trade

Richter Advisory Group Inc.

Taken up under BIA

204

$15.6

Payless ShoeSource Canada Inc., Payless ShoeSource GP Inc. and Payless ShoeSource LP

Retail trade

FTI Consulting Canada Inc.

Concluded - compromise or arrangement completed

636

$102.8

Copper Sands Land Corp.

Management of companies and enterprises

Deloitte Restructuring Inc.

Taken up under BIA

1042

$11.8

Walter Energy Canada Holdings, Inc.; Walter Canadian Coal ULC; Wolverine Coal ULC; Brule Coal ULC; Cambrian Energybuild Holdings ULC; Willow Creek Coal ULC; Pine Valley Coal Ltd.; 0541237 B.C. Ltd.

Mining, quarrying, and oil and gas extraction

KPMG Inc.

Concluded - compromise or arrangement completed

1787

$90.3

V.A. Inc., Location V.A. Inc., 9288-7561 Québec Inc., 9001-6346 Québec Inc.

Transportation and warehousing

Raymond Chabot Inc.

Concluded - compromise or arrangement completed

328

$16.0

NFC Acquisition GP Inc., NFC Acquisition Corp., and NFC Land Holdings Corp.

Manufacturing

FTI Consulting Canada Inc.

Taken up under BIA

448

$53.2

Crailar Technologies Inc., Crailar Inc., Hemptown USA Inc., 0697872 B.C. Ltd., Crailar Fiber Technologies Inc., HTNaturals Apparel Corp.

Manufacturing

The Bowra Group Inc.

Taken up under BIA

620

$23.5

Argent Energy Trust, Argent Energy (Canada) Holdings Inc. and Argent Energy (US) Holdings Inc.

Mining, quarrying, and oil and gas extraction

FTI Consulting Canada Inc.

Taken up under BIA

800

$180.8

9062-6540 QUÉBEC INC.

Wholesale trade

Roy, Métivier, Roberge Inc.

Concluded - compromise or arrangement completed

2038

$1.0

Table 1: Total CCAA Proceedings―Domestic
- Volume +/- Change 12-Month Period Ending
Q4 2020 Q3 2020 Q4 2019 Q3 2020 - Q4 2020 Q4 2019 - Q4 2020 12-31-2020 12-31-2019 +/- Change
Total Domestic Proceedings FiledFootnote 1 6 16 15 -10 -9 60 38 22
Filing Affiliates

23

69

106

-46

-83

230

323

-93

Filed by Publicly-Traded Companies

2

2

5

0

-3

14

11

3

Filed by Privately-Held Companies

4

14

10

-10

-6

46

27

19

Total Liabilities - Book ValueFootnote 2 $394.204 $1,696.866 $3,811.814 -$1,302.662 -$3,417.610 $8,758.562 $9,157.598 -$399.036
% of Secured Liabilities

38.49%

37.60%

75.62%

n/a

n/a

48.37%

56.95%

n/a

% of Unsecured Liabilities

61.51%

62.40%

24.38%

n/a

n/a

51.63%

43.05%

n/a

Total Assets - Book Value $326.549 $1,433.963 $8,775.944 -$1,107.414 -$8,449.395 $9,420.403 $21,418.147 -$11,997.744
Table 2: Total CCAA Proceedings Filed by Province
- Volume +/- Change 12-Month Period Ending
Q4 2020 Q3 2020 Q4 2019 Q3 2020 - Q4 2020 Q4 2019 - Q4 2020 12-31-2020 12-31-2019 +/- Change

Newfoundland and Labrador

0

0

0

0

0

0

1

-1

Prince Edward Island

0

0

0

0

0

0

0

0

Nova Scotia

0

0

0

0

0

0

1

-1

New Brunswick

0

0

0

0

0

0

0

0

Quebec

1

7

5

-6

-4

15

9

6

Ontario

4

5

6

-1

-2

24

15

9

Manitoba

0

0

0

0

0

0

0

0

Saskatchewan

0

0

0

0

0

1

0

1

Alberta

0

1

4

-1

-4

10

7

3

British Columbia

1

3

0

-2

1

10

5

5

Northwest Territories

0

0

0

0

0

0

0

0

Yukon

0

0

0

0

0

0

0

0

Nunavut

0

0

0

0

0

0

0

0

Canada

6

16

15

-10

-9

60

38

22

Table 3: CCAA Proceedings Filed by NAICS Economic Sector, CanadaFootnote 3
- Volume +/- Change 12-Month Period Ending
Q4 2020 Q3 2020 Q4 2019 Q3 2020 - Q4 2020 Q4 2019 - Q4 2020 12-31-2020 12-31-2019 +/- Change

Agriculture, Forestry, Fishing and Hunting

2

1

3

1

-1

7

4

3

Mining, Quarrying and Oil and Gas Extraction

0

1

4

-1

-4

9

11

-2

Utilities

0

0

0

0

0

0

0

0

Construction

0

0

1

0

-1

2

2

0

Manufacturing

1

2

3

-1

-2

10

7

3

Wholesale Trade

0

0

1

0

-1

0

5

-5

Retail Trade

1

6

0

-5

1

12

2

10

Transportation and Warehousing

0

0

1

0

-1

0

2

-2

Information and Cultural Industries

0

0

1

0

-1

0

2

-2

Finance and Insurance

0

1

0

-1

0

1

1

0

Real Estate, Rental and Leasing

0

1

1

-1

-1

5

1

4

Professional, Scientific and Technical Services

0

1

0

-1

0

1

1

0

Management of Companies and Enterprises

0

2

0

-2

0

4

0

4

Administrative and Support, Waste Management and Remediation Services

0

1

0

-1

0

4

0

4

Educational Services

0

0

0

0

0

1

0

1

Health Care and Social Assistance

0

0

0

0

0

0

0

0

Arts, Entertainment and Recreation

1

0

0

1

1

2

0

2

Accommodation and Food Services

1

0

0

1

1

1

0

1

Other Services (except Public Administration)

0

0

0

0

0

1

0

1

Public Administration

0

0

0

0

0

0

0

0

Canada

6

16

15

-10

-9

60

38

22

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