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Insolvency Statistics in Canada – February 2009

Printable Version: Insolvency Statistics in Canada — February 2009 (PDF Format, 133 KB, 7 pages)

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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 Insolvencies
  Volume % Change 12-Month Period Ending
February 2009 January 2009 February 2008 Jan. 2009 to Feb. 2009 Feb. 2008 to Feb. 2009 02-28-2009 02-29-2008 % Change
Newfoundland and Labrador 237 159 193 49.1 22.8 2 239 2 257 -0.8
Bankruptcies 223 156 192 42.9 16.1 2 176 2 173 0.1
Proposals 14 3 1 366.7 1300.0 63 84 -25.0
Prince Edward Island 47 29 60 62.1 -21.7 482 396 21.7
Bankruptcies 46 26 54 76.9 -14.8 456 358 27.4
Proposals 1 3 6 -66.7 -83.3 26 38 -31.6
Nova Scotia 409 364 395 12.4 3.5 4 782 4 315 10.8
Bankruptcies 323 315 336 2.5 -3.9 4 147 3 735 11.0
Proposals 86 49 59 75.5 45.8 635 580 9.5
New Brunswick 257 252 244 2.0 5.3 3 343 2 953 13.2
Bankruptcies 211 206 207 2.4 1.9 2 860 2 596 10.2
Proposals 46 46 37 0.0 24.3 483 357 35.3
Quebec 3 785 3 326 3 191 13.8 18.6 37 937 33 277 14.0
Bankruptcies 3 075 2 744 2 667 12.1 15.3 31 166 27 755 12.3
Proposals 710 582 524 22.0 35.5 6 771 5 522 22.6
Ontario 5 088 4 433 4 008 14.8 26.9 55 229 46 914 17.7
Bankruptcies 3 572 3 118 2 920 14.6 22.3 39 815 34 377 15.8
Proposals 1 516 1 315 1 088 15.3 39.3 15 414 12 537 22.9
Manitoba 233 209 197 11.5 18.3 2 753 2 692 2.3
Bankruptcies 187 169 163 10.7 14.7 2 154 2 162 -0.4
Proposals 46 40 34 15.0 35.3 599 530 13.0
Saskatchewan 224 174 181 28.7 23.8 2 108 2 190 -3.7
Bankruptcies 167 126 139 32.5 20.1 1 620 1 616 0.2
Proposals 57 48 42 18.8 35.7 488 574 -15.0
Alberta 893 865 576 3.2 55.0 8 535 6 523 30.8
Bankruptcies 750 735 448 2.0 67.4 7 084 5 235 35.3
Proposals 143 130 128 10.0 11.7 1 451 1 288 12.7
British Columbia 1 140 958 782 19.0 45.8 10 093 8 589 17.5
Bankruptcies 937 792 647 18.3 44.8 8 292 7 062 17.4
Proposals 203 166 135 22.3 50.4 1 801 1 527 17.9
Northwest Territories 7 3 0 133.3 — 33 37 -10.8
Bankruptcies 4 2 0 100.0 — 28 32 -12.5
Proposals 3 1 0 200.0 — 5 5 0.0
Yukon 0 3 1 -100.0 -100.0 36 27 33.3
Bankruptcies 0 3 1 -100.0 -100.0 32 25 28.0
Proposals 0 0 0 — — 4 2 100.0
Nunavut 0 0 1 — -100.0 8 3 166.7
Bankruptcies 0 0 0 — — 7 2 250.0
Proposals 0 0 1 — -100.0 1 1 0.0
Canada 12 320 10 775 9 829 14.3 25.3 127 578 110 173 15.8
Bankruptcies 9 495 8 392 7 774 13.1 22.1 99 837 87 128 14.6
Proposals 2 825 2 383 2 055 18.5 37.5 27 741 23 045 20.4
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
February 2009 January 2009 February 2008 Jan. 2009 to Feb. 2009 Feb. 2008 to Feb. 2009 02-28-2009 02-29-2008 % Change
Newfoundland and Labrador 235 158 186 48.7 26.3 2 210 2 199 0.5
Bankruptcies 221 155 185 42.6 19.5 2 148 2 116 1.5
Proposals 14 3 1 366.7 1300.0 62 83 -25.3
Prince Edward Island 45 28 56 60.7 -19.6 464 361 28.5
Bankruptcies 44 25 51 76.0 -13.7 442 330 33.9
Proposals 1 3 5 -66.7 -80.0 22 31 -29.0
Nova Scotia 398 351 377 13.4 5.6 4 598 4 096 12.3
Bankruptcies 312 306 319 2.0 -2.2 3 996 3 536 13.0
Proposals 86 45 58 91.1 48.3 602 560 7.5
New Brunswick 250 238 218 5.0 14.7 3 124 2 758 13.3
Bankruptcies 207 195 186 6.2 11.3 2 687 2 431 10.5
Proposals 43 43 32 0.0 34.4 437 327 33.6
Quebec 3 535 3 076 2 975 14.9 18.8 35 155 30 711 14.5
Bankruptcies 2 895 2 561 2 489 13.0 16.3 28 992 25 702 12.8
Proposals 640 515 486 24.3 31.7 6 163 5 009 23.0
Ontario 4 885 4 232 3 733 15.4 30.9 52 504 43 913 19.6
Bankruptcies 3 404 2 952 2 677 15.3 27.2 37 507 31 812 17.9
Proposals 1 481 1 280 1 056 15.7 40.2 14 997 12 101 23.9
Manitoba 228 203 191 12.3 19.4 2 651 2 584 2.6
Bankruptcies 185 164 158 12.8 17.1 2 064 2 062 0.1
Proposals 43 39 33 10.3 30.3 587 522 12.5
Saskatchewan 202 164 165 23.2 22.4 1 917 1 933 -0.8
Bankruptcies 153 118 128 29.7 19.5 1 479 1 422 4.0
Proposals 49 46 37 6.5 32.4 438 511 -14.3
Alberta 841 823 526 2.2 59.9 8 003 6 001 33.4
Bankruptcies 706 696 409 1.4 72.6 6 626 4 807 37.8
Proposals 135 127 117 6.3 15.4 1 377 1 194 15.3
British Columbia 1 080 929 723 16.3 49.4 9 560 8 013 19.3
Bankruptcies 889 767 603 15.9 47.4 7 840 6 600 18.8
Proposals 191 162 120 17.9 59.2 1 720 1 413 21.7
Northwest Territories 7 3 0 133.3 — 32 33 -3.0
Bankruptcies 4 2 0 100.0 — 27 30 -10.0
Proposals 3 1 0 200.0 — 5 3 66.7
Yukon 0 3 0 -100.0 — 33 23 43.5
Bankruptcies 0 3 0 -100.0 — 29 21 38.1
Proposals 0 0 0 — — 4 2 100.0
Nunavut 0 0 1 — -100.0 8 3 166.7
Bankruptcies 0 0 0 — — 7 2 250.0
Proposals 0 0 1 — -100.0 1 1 0.0
Canada 11 706 10 208 9 151 14.7 27.9 120 259 102 628 17.2
Bankruptcies 9 020 7 944 7 205 13.5 25.2 93 844 80 871 16.0
Proposals 2 686 2 264 1 946 18.6 38.0 26 415 21 757 21.4
Table 3: Insolvencies Filed by Businesses
  Volume % Change 12-Month Period Ending
February 2009 January 2009 February 2008 Jan. 2009 to Feb. 2009 Feb. 2008 to Feb. 2009 02-28-2009 02-29-2008 % Change
Newfoundland and Labrador 2 1 7 100.0 -71.4 29 58 -50.0
Bankruptcies 2 1 7 100.0 -71.4 28 57 -50.9
Proposals 0 0 0 — — 1 1 0.0
Prince Edward Island 2 1 4 100.0 -50.0 18 35 -48.6
Bankruptcies 2 1 3 100.0 -33.3 14 28 -50.0
Proposals 0 0 1 — -100.0 4 7 -42.9
Nova Scotia 11 13 18 -15.4 -38.9 184 219 -16.0
Bankruptcies 11 9 17 22.2 -35.3 151 199 -24.1
Proposals 0 4 1 -100.0 -100.0 33 20 65.0
New Brunswick 7 14 26 -50.0 -73.1 219 195 12.3
Bankruptcies 4 11 21 -63.6 -81.0 173 165 4.8
Proposals 3 3 5 0.0 -40.0 46 30 53.3
Quebec 250 250 216 0.0 15.7 2 782 2 566 8.4
Bankruptcies 180 183 178 -1.6 1.1 2 174 2 053 5.9
Proposals 70 67 38 4.5 84.2 608 513 18.5
Ontario 203 201 275 1.0 -26.2 2 725 3 001 -9.2
Bankruptcies 168 166 243 1.2 -30.9 2 308 2 565 -10.0
Proposals 35 35 32 0.0 9.4 417 436 -4.4
Manitoba 5 6 6 -16.7 -16.7 102 108 -5.6
Bankruptcies 2 5 5 -60.0 -60.0 90 100 -10.0
Proposals 3 1 1 200.0 200.0 12 8 50.0
Saskatchewan 22 10 16 120.0 37.5 191 257 -25.7
Bankruptcies 14 8 11 75.0 27.3 141 194 -27.3
Proposals 8 2 5 300.0 60.0 50 63 -20.6
Alberta 52 42 50 23.8 4.0 532 522 1.9
Bankruptcies 44 39 39 12.8 12.8 458 428 7.0
Proposals 8 3 11 166.7 -27.3 74 94 -21.3
British Columbia 60 29 59 106.9 1.7 533 576 -7.5
Bankruptcies 48 25 44 92.0 9.1 452 462 -2.2
Proposals 12 4 15 200.0 -20.0 81 114 -28.9
Northwest Territories 0 0 0 — — 1 4 -75.0
Bankruptcies 0 0 0 — — 1 2 -50.0
Proposals 0 0 0 — — 0 2 -100.0
Yukon 0 0 1 — -100.0 3 4 -25.0
Bankruptcies 0 0 1 — -100.0 3 4 -25.0
Proposals 0 0 0 — — 0 0 —
Nunavut 0 0 0 — — 0 0 —
Bankruptcies 0 0 0 — — 0 0 —
Proposals 0 0 0 — — 0 0 —
Canada 614 567 678 8.3 -9.4 7 319 7 545 -3.0
Bankruptcies 475 448 569 6.0 -16.5 5 993 6 257 -4.2
Proposals 139 119 109 16.8 27.5 1 326 1 288 3.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
  Volume % Change 12-Month Period Ending
February 2009 January 2009 February 2008 Jan. 2009 to Feb. 2009 Feb. 2008 to Feb. 2009 02-28-2009 02-29-2008 % Change
Agriculture, Forestry, Fishing and Hunting 33 15 41 120.0 -19.5 328 360 -8.9
Bankruptcies 22 11 28 100.0 -21.4 263 295 -10.8
Proposals 11 4 13 175.0 -15.4 65 65 0.0
Mining and Oil and Gas Extraction 6 5 6 20.0 0.0 54 39 38.5
Bankruptcies 2 5 4 -60.0 -50.0 34 28 21.4
Proposals 4 0 2 — 100.0 20 11 81.8
Utilities 2 1 1 100.0 100.0 11 6 83.3
Bankruptcies 1 1 1 0.0 0.0 8 5 60.0
Proposals 1 0 0 — — 3 1 200.0
Construction 94 90 125 4.4 -24.8 1 196 1 262 -5.2
Bankruptcies 78 77 113 1.3 -31.0 1 030 1 066 -3.4
Proposals 16 13 12 23.1 33.3 166 196 -15.3
Manufacturing 55 72 76 -23.6 -27.6 786 781 0.6
Bankruptcies 45 39 55 15.4 -18.2 609 600 1.5
Proposals 10 33 21 -69.7 -52.4 177 181 -2.2
Wholesale Trade 43 32 30 34.4 43.3 408 373 9.4
Bankruptcies 29 24 24 20.8 20.8 303 300 1.0
Proposals 14 8 6 75.0 133.3 105 73 43.8
Retail Trade 104 76 97 36.8 7.2 977 1 071 -8.8
Bankruptcies 86 66 84 30.3 2.4 830 892 -7.0
Proposals 18 10 13 80.0 38.5 147 179 -17.9
Transportation and Warehousing 58 41 63 41.5 -7.9 747 709 5.4
Bankruptcies 45 33 55 36.4 -18.2 613 606 1.2
Proposals 13 8 8 62.5 62.5 134 103 30.1
Information and Cultural Industries 8 14 15 -42.9 -46.7 130 132 -1.5
Bankruptcies 6 12 13 -50.0 -53.8 97 109 -11.0
Proposals 2 2 2 0.0 0.0 33 23 43.5
Finance and Insurance 15 14 9 7.1 66.7 129 109 18.3
Bankruptcies 8 12 9 -33.3 -11.1 105 94 11.7
Proposals 7 2 0 250.0 — 24 15 60.0
Real Estate and Rental and Leasing 22 21 8 4.8 175.0 186 168 10.7
Bankruptcies 11 16 6 -31.3 83.3 147 140 5.0
Proposals 11 5 2 120.0 450.0 39 28 39.3
Professional, Scientific and Technical Services 31 24 31 29.2 0.0 460 453 1.5
Bankruptcies 25 21 21 19.0 19.0 369 370 -0.3
Proposals 6 3 10 100.0 -40.0 91 83 9.6
Management of Companies and Enterprises 2 5 2 -60.0 0.0 43 45 -4.4
Bankruptcies 1 4 2 -75.0 -50.0 31 33 -6.1
Proposals 1 1 0 0.0 — 12 12 0.0
Administrative and Support, Waste Management and Remediation Services 21 22 25 -4.5 -16.0 294 320 -8.1
Bankruptcies 17 18 24 -5.6 -29.2 242 269 -10.0
Proposals 4 4 1 0.0 300.0 52 51 2.0
Educational Services 4 3 4 33.3 0.0 51 47 8.5
Bankruptcies 3 3 2 0.0 50.0 41 36 13.9
Proposals 1 0 2 — -50.0 10 11 -9.1
Health Care and Social Assistance 6 4 11 50.0 -45.5 82 94 -12.8
Bankruptcies 6 2 10 200.0 -40.0 62 74 -16.2
Proposals 0 2 1 -100.0 -100.0 20 20 0.0
Arts, Entertainment and Recreation 15 14 11 7.1 36.4 146 171 -14.6
Bankruptcies 12 12 9 0.0 33.3 123 143 -14.0
Proposals 3 2 2 50.0 50.0 23 28 -17.9
Accommodation and Food Services 61 81 78 -24.7 -21.8 837 876 -4.5
Bankruptcies 49 66 69 -25.8 -29.0 704 740 -4.9
Proposals 12 15 9 -20.0 33.3 133 136 -2.2
Other Services (except Public Administration) 34 33 44 3.0 -22.7 444 522 -14.9
Bankruptcies 29 26 39 11.5 -25.6 372 450 -17.3
Proposals 5 7 5 -28.6 0.0 72 72 0.0
Public Administration 0 0 1 — -100.0 10 7 42.9
Bankruptcies 0 0 1 — -100.0 10 7 42.9
Proposals 0 0 0 — — 0 0 —
Total 614 567 678 8.3 -9.4 7 319 7 545 -3.0
Bankruptcies 475 448 569 6.0 -16.5 5 993 6 257 -4.2
Proposals 139 119 109 16.8 27.5 1 326 1 288 3.0
Date Modified: 2009-04-21

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