Insolvency Statistics in Canada — October 2008
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Definitions
- Consumer:
- An individual with more than 50 percent of total liabilities related
to consumer goods and services.
- Business:
- Any commercial entity or organization other than an individual, or an
individual who has incurred 50 percent or more of total liabilities as a
result of operating a business.
- Bankruptcy:
- The state of a consumer or business that has made an assignment in
bankruptcy or against whom a bankruptcy order has been made.
- Proposal:
- An offer to creditors to settle debts under conditions other than the
existing terms. A proposal is a formal agreement under the Bankruptcy and
Insolvency Act.
- NAICS:
- North American Industry Classification System.
Table 1: Total Bankruptcies
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
213 |
214 |
156 |
-0.5 |
36.5 |
2 192 |
2 261 |
-3.1 |
| Prince Edward Island |
51 |
48 |
30 |
6.3 |
70.0 |
413 |
342 |
20.8 |
| Nova Scotia |
412 |
371 |
351 |
11.1 |
17.4 |
3 976 |
3 766 |
5.6 |
| New Brunswick |
259 |
271 |
254 |
-4.4 |
2.0 |
2 741 |
2 606 |
5.2 |
| Quebec |
2 934 |
2 784 |
2 582 |
5.4 |
13.6 |
29 493 |
27 137 |
8.7 |
| Ontario |
3 783 |
3 549 |
3 110 |
6.6 |
21.6 |
37 106 |
33 921 |
9.4 |
| Manitoba |
199 |
188 |
178 |
5.9 |
11.8 |
2 091 |
2 183 |
-4.2 |
| Saskatchewan |
158 |
127 |
137 |
24.4 |
15.3 |
1 569 |
1 763 |
-11.0 |
| Alberta |
667 |
558 |
442 |
19.5 |
50.9 |
6 024 |
5 194 |
16.0 |
| British Columbia |
786 |
722 |
572 |
8.9 |
37.4 |
7 422 |
7 018 |
5.8 |
| Northwest Territories |
2 |
3 |
2 |
-33.3 |
0.0 |
25 |
30 |
-16.7 |
| Yukon |
3 |
1 |
3 |
200.0 |
0.0 |
28 |
25 |
12.0 |
| Nunavut |
1 |
0 |
0 |
— |
— |
5 |
5 |
0.0 |
| Canada |
9 468 |
8 836 |
7 817 |
7.2 |
21.1 |
93 085 |
86 251 |
7.9 |
Table 2: Total Proposals
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
9 |
1 |
8 |
800.0 |
12.5 |
60 |
99 |
-39.4 |
| Prince Edward Island |
2 |
1 |
3 |
100.0 |
-33.3 |
26 |
33 |
-21.2 |
| Nova Scotia |
54 |
52 |
44 |
3.8 |
22.7 |
604 |
571 |
5.8 |
| New Brunswick |
40 |
45 |
30 |
-11.1 |
33.3 |
424 |
314 |
35.0 |
| Quebec |
630 |
548 |
498 |
15.0 |
26.5 |
6 376 |
5 312 |
20.0 |
| Ontario |
1 509 |
1 346 |
1 161 |
12.1 |
30.0 |
13 925 |
12 267 |
13.5 |
| Manitoba |
80 |
53 |
36 |
50.9 |
122.2 |
595 |
547 |
8.8 |
| Saskatchewan |
41 |
31 |
47 |
32.3 |
-12.8 |
467 |
620 |
-24.7 |
| Alberta |
133 |
131 |
120 |
1.5 |
10.8 |
1 341 |
1 284 |
4.4 |
| British Columbia |
148 |
154 |
134 |
-3.9 |
10.4 |
1 588 |
1 463 |
8.5 |
| Northwest Territories |
0 |
0 |
0 |
— |
— |
3 |
5 |
-40.0 |
| Yukon |
0 |
0 |
0 |
— |
— |
2 |
3 |
-33.3 |
| Nunavut |
0 |
0 |
0 |
— |
— |
2 |
0 |
— |
| Canada |
2 646 |
2 362 |
2 081 |
12.0 |
27.2 |
25 413 |
22 518 |
12.9 |
Table 3:
Bankruptcies Filed by Consumers
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
210 |
214 |
151 |
-1.9 |
39.1 |
2 155 |
2 204 |
-2.2 |
| Prince Edward Island |
51 |
46 |
25 |
10.9 |
104.0 |
400 |
305 |
31.1 |
| Nova Scotia |
404 |
361 |
330 |
11.9 |
22.4 |
3 800 |
3 555 |
6.9 |
| New Brunswick |
248 |
251 |
243 |
-1.2 |
2.1 |
2 546 |
2 451 |
3.9 |
| Quebec |
2 766 |
2 609 |
2 415 |
6.0 |
14.5 |
27 346 |
25 142 |
8.8 |
| Ontario |
3 566 |
3 365 |
2 888 |
6.0 |
23.5 |
34 645 |
31 306 |
10.7 |
| Manitoba |
197 |
182 |
170 |
8.2 |
15.9 |
1 995 |
2 068 |
-3.5 |
| Saskatchewan |
147 |
119 |
121 |
23.5 |
21.5 |
1 422 |
1 531 |
-7.1 |
| Alberta |
632 |
526 |
420 |
20.2 |
50.5 |
5 596 |
4 734 |
18.2 |
| British Columbia |
745 |
670 |
537 |
11.2 |
38.7 |
6 955 |
6 554 |
6.1 |
| Northwest Territories |
2 |
3 |
2 |
-33.3 |
0.0 |
22 |
29 |
-24.1 |
| Yukon |
3 |
1 |
2 |
200.0 |
50.0 |
24 |
21 |
14.3 |
| Nunavut |
1 |
0 |
0 |
— |
— |
5 |
3 |
66.7 |
| Canada |
8 972 |
8 347 |
7 304 |
7.5 |
22.8 |
86 911 |
79 903 |
8.8 |
Table 4: Bankruptcies Filed by Businesses
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
3 |
0 |
5 |
— |
-40.0 |
37 |
57 |
-35.1 |
| Prince Edward Island |
0 |
2 |
5 |
-100.0 |
-100.0 |
13 |
37 |
-64.9 |
| Nova Scotia |
8 |
10 |
21 |
-20.0 |
-61.9 |
176 |
211 |
-16.6 |
| New Brunswick |
11 |
20 |
11 |
-45.0 |
0.0 |
195 |
155 |
25.8 |
| Quebec |
168 |
175 |
167 |
-4.0 |
-0.6 |
2 147 |
1 995 |
7.6 |
| Ontario |
217 |
184 |
222 |
17.9 |
-2.3 |
2 461 |
2 615 |
-5.9 |
| Manitoba |
2 |
6 |
8 |
-66.7 |
-75.0 |
96 |
115 |
-16.5 |
| Saskatchewan |
11 |
8 |
16 |
37.5 |
-31.3 |
147 |
232 |
-36.6 |
| Alberta |
35 |
32 |
22 |
9.4 |
59.1 |
428 |
460 |
-7.0 |
| British Columbia |
41 |
52 |
35 |
-21.2 |
17.1 |
467 |
464 |
0.6 |
| Northwest Territories |
0 |
0 |
0 |
— |
— |
3 |
1 |
200.0 |
| Yukon |
0 |
0 |
1 |
— |
-100.0 |
4 |
4 |
0.0 |
| Nunavut |
0 |
0 |
0 |
— |
— |
0 |
2 |
-100.0 |
| Canada |
496 |
489 |
513 |
1.4 |
-3.3 |
6 174 |
6 348 |
-2.7 |
Table 5: Proposals Filed by Consumers
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
9 |
1 |
8 |
800.0 |
12.5 |
59 |
97 |
-39.2 |
| Prince Edward Island |
2 |
1 |
3 |
100.0 |
-33.3 |
23 |
27 |
-14.8 |
| Nova Scotia |
51 |
52 |
41 |
-1.9 |
24.4 |
578 |
547 |
5.7 |
| New Brunswick |
36 |
41 |
26 |
-12.2 |
38.5 |
385 |
278 |
38.5 |
| Quebec |
565 |
504 |
468 |
12.1 |
20.7 |
5 790 |
4 832 |
19.8 |
| Ontario |
1 466 |
1 329 |
1 116 |
10.3 |
31.4 |
13 504 |
11 811 |
14.3 |
| Manitoba |
78 |
53 |
34 |
47.2 |
129.4 |
585 |
535 |
9.3 |
| Saskatchewan |
39 |
28 |
42 |
39.3 |
-7.1 |
412 |
546 |
-24.5 |
| Alberta |
124 |
127 |
108 |
-2.4 |
14.8 |
1 258 |
1 172 |
7.3 |
| British Columbia |
142 |
145 |
128 |
-2.1 |
10.9 |
1 501 |
1 357 |
10.6 |
| Northwest Territories |
0 |
0 |
0 |
— |
— |
3 |
3 |
0.0 |
| Yukon |
0 |
0 |
0 |
— |
— |
2 |
3 |
-33.3 |
| Nunavut |
0 |
0 |
0 |
— |
— |
2 |
0 |
— |
| Canada |
2 512 |
2 281 |
1 974 |
10.1 |
27.3 |
24 102 |
21 208 |
13.6 |
Table 6: Proposals Filed by Businesses
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Newfoundland and Labrador |
0 |
0 |
0 |
— |
— |
1 |
2 |
-50.0 |
| Prince Edward Island |
0 |
0 |
0 |
— |
— |
3 |
6 |
-50.0 |
| Nova Scotia |
3 |
0 |
3 |
— |
0.0 |
26 |
24 |
8.3 |
| New Brunswick |
4 |
4 |
4 |
0.0 |
0.0 |
39 |
36 |
8.3 |
| Quebec |
65 |
44 |
30 |
47.7 |
116.7 |
586 |
480 |
22.1 |
| Ontario |
43 |
17 |
45 |
152.9 |
-4.4 |
421 |
456 |
-7.7 |
| Manitoba |
2 |
0 |
2 |
— |
0.0 |
10 |
12 |
-16.7 |
| Saskatchewan |
2 |
3 |
5 |
-33.3 |
-60.0 |
55 |
74 |
-25.7 |
| Alberta |
9 |
4 |
12 |
125.0 |
-25.0 |
83 |
112 |
-25.9 |
| British Columbia |
6 |
9 |
6 |
-33.3 |
0.0 |
87 |
106 |
-17.9 |
| Northwest Territories |
0 |
0 |
0 |
— |
— |
0 |
2 |
-100.0 |
| Yukon |
0 |
0 |
0 |
— |
— |
0 |
0 |
— |
| Nunavut |
0 |
0 |
0 |
— |
— |
0 |
0 |
— |
| Canada |
134 |
81 |
107 |
65.4 |
25.2 |
1 311 |
1 310 |
0.1 |
Table 7: Bankruptcies by
NAICS
Economic Sectors, Canada
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Agriculture, Forestry, Fishing and Hunting |
14 |
15 |
22 |
-6.7 |
-36.4 |
277 |
314 |
-11.8 |
| Mining and Oil and Gas Extraction |
2 |
1 |
2 |
100.0 |
0.0 |
33 |
25 |
32.0 |
| Utilities |
0 |
0 |
0 |
— |
— |
4 |
8 |
-50.0 |
| Construction |
97 |
68 |
73 |
42.6 |
32.9 |
1 086 |
1 106 |
-1.8 |
| Manufacturing |
59 |
56 |
42 |
5.4 |
40.5 |
614 |
584 |
5.1 |
| Wholesale Trade |
18 |
25 |
30 |
-28.0 |
-40.0 |
280 |
337 |
-16.9 |
| Retail Trade |
68 |
61 |
72 |
11.5 |
-5.6 |
868 |
889 |
-2.4 |
| Transportation and Warehousing |
43 |
51 |
42 |
-15.7 |
2.4 |
667 |
576 |
15.8 |
| Information and Cultural Industries |
6 |
3 |
15 |
100.0 |
-60.0 |
93 |
109 |
-14.7 |
| Finance and Insurance |
6 |
9 |
13 |
-33.3 |
-53.8 |
97 |
84 |
15.5 |
| Real Estate and Rental and Leasing |
13 |
18 |
17 |
-27.8 |
-23.5 |
133 |
160 |
-16.9 |
| Professional, Scientific and Technical Services |
34 |
39 |
34 |
-12.8 |
0.0 |
350 |
406 |
-13.8 |
| Management of Companies and Enterprises |
3 |
2 |
2 |
50.0 |
50.0 |
24 |
34 |
-29.4 |
| Administrative and Support, Waste Management and Remediation Services |
21 |
19 |
14 |
10.5 |
50.0 |
256 |
289 |
-11.4 |
| Educational Services |
2 |
4 |
1 |
-50.0 |
100.0 |
38 |
40 |
-5.0 |
| Health Care and Social Assistance |
4 |
11 |
6 |
-63.6 |
-33.3 |
78 |
68 |
14.7 |
| Arts, Entertainment and Recreation |
8 |
8 |
17 |
0.0 |
-52.9 |
124 |
138 |
-10.1 |
| Accommodation and Food Services |
63 |
60 |
70 |
5.0 |
-10.0 |
740 |
735 |
0.7 |
| Other Services (except Public Administration) |
35 |
38 |
39 |
-7.9 |
-10.3 |
403 |
434 |
-7.1 |
| Public Administration |
0 |
1 |
2 |
-100.0 |
-100.0 |
9 |
12 |
-25.0 |
| Total |
496 |
489 |
513 |
1.4 |
-3.3 |
6 174 |
6 348 |
-2.7 |
Table 8: Proposals by
NAICS
Economic Sectors, Canada
| |
Volume |
% Change |
12-Month Period Ending |
| October 2008 |
September 2008 |
October 2007 |
Sept. 2008 to Oct. 2008 |
Oct. 2007 to Oct. 2008 |
10-31-2008 |
10-31-2007 |
% Change |
| Agriculture, Forestry, Fishing and Hunting |
4 |
6 |
8 |
-33.3 |
-50.0 |
63 |
61 |
3.3 |
| Mining and Oil and Gas Extraction |
1 |
1 |
2 |
0.0 |
-50.0 |
19 |
12 |
58.3 |
| Utilities |
0 |
0 |
0 |
— |
— |
1 |
1 |
0.0 |
| Construction |
18 |
9 |
11 |
100.0 |
63.6 |
181 |
193 |
-6.2 |
| Manufacturing |
18 |
9 |
20 |
100.0 |
-10.0 |
170 |
173 |
-1.7 |
| Wholesale Trade |
9 |
3 |
3 |
200.0 |
200.0 |
84 |
73 |
15.1 |
| Retail Trade |
14 |
12 |
19 |
16.7 |
-26.3 |
159 |
184 |
-13.6 |
| Transportation and Warehousing |
17 |
6 |
5 |
183.3 |
240.0 |
130 |
123 |
5.7 |
| Information and Cultural Industries |
2 |
3 |
4 |
-33.3 |
-50.0 |
29 |
29 |
0.0 |
| Finance and Insurance |
2 |
1 |
2 |
100.0 |
0.0 |
16 |
14 |
14.3 |
| Real Estate and Rental and Leasing |
1 |
4 |
0 |
-75.0 |
— |
35 |
22 |
59.1 |
| Professional, Scientific and Technical Services |
13 |
5 |
7 |
160.0 |
85.7 |
99 |
94 |
5.3 |
| Management of Companies and Enterprises |
1 |
1 |
0 |
0.0 |
— |
12 |
16 |
-25.0 |
| Administrative and Support, Waste Management and Remediation Services |
4 |
3 |
7 |
33.3 |
-42.9 |
49 |
60 |
-18.3 |
| Educational Services |
3 |
0 |
0 |
— |
— |
10 |
11 |
-9.1 |
| Health Care and Social Assistance |
2 |
1 |
3 |
100.0 |
-33.3 |
18 |
22 |
-18.2 |
| Arts, Entertainment and Recreation |
1 |
1 |
0 |
0.0 |
— |
27 |
25 |
8.0 |
| Accommodation and Food Services |
18 |
9 |
13 |
100.0 |
38.5 |
135 |
132 |
2.3 |
| Other Services (except Public Administration) |
6 |
7 |
3 |
-14.3 |
100.0 |
74 |
65 |
13.8 |
| Public Administration |
0 |
0 |
0 |
— |
— |
0 |
0 |
— |
| Total |
134 |
81 |
107 |
65.4 |
25.2 |
1 311 |
1 310 |
0.1 |
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