Insolvency Statistics in Canada—December 2011

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Tables

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volumes.

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
Province Volume % Change 12-Month Period Ending
Dec. 2011 Nov. 2011 Dec. 2010 Nov. 2011 to Dec. 2011 Dec. 2010 to Dec. 2011 12-31-2011 12-31-2010 % Change
Newfoundland and Labrador 111 170 183 -34.7 -39.3 2,107 2,544 -17.2
Bankruptcies 102 156 166 -34.6 -38.6 1,981 2,399 -17.4
Proposals 9 14 17 -35.7 -47.1 126 145 -13.1
Prince Edward Island 42 42 53 0.0 -20.8 637 598 6.5
Bankruptcies 27 37 46 -27.0 -41.3 535 528 1.3
Proposals 15 5 7 200.0 114.3 102 70 45.7
Nova Scotia 348 365 389 -4.7 -10.5 4,669 5,297 -11.9
Bankruptcies 280 265 314 5.7 -10.8 3,682 4,318 -14.7
Proposals 68 100 75 -32.0 -9.3 987 979 0.8
New Brunswick 272 280 281 -2.9 -3.2 3,560 3,796 -6.2
Bankruptcies 217 226 233 -4.0 -6.9 2,891 3,179 -9.1
Proposals 55 54 48 1.9 14.6 669 617 8.4
Quebec 2,726 3,474 2,764 -21.5 -1.4 37,895 39,870 -5.0
Bankruptcies 1,924 2,414 2,096 -20.3 -8.2 27,196 29,620 -8.2
Proposals 802 1,060 668 -24.3 20.1 10,699 10,250 4.4
Ontario 4,099 4,685 4,466 -12.5 -8.2 52,074 58,479 -11.0
Bankruptcies 2,203 2,379 2,580 -7.4 -14.6 26,805 34,533 -22.4
Proposals 1,896 2,306 1,886 -17.8 0.5 25,269 23,946 5.5
Manitoba 161 174 205 -7.5 -21.5 2,229 2,751 -19.0
Bankruptcies 119 120 165 -0.8 -27.9 1,574 2,062 -23.7
Proposals 42 54 40 -22.2 5.0 655 689 -4.9
Saskatchewan 128 172 176 -25.6 -27.3 2,212 2,470 -10.4
Bankruptcies 92 92 115 0.0 -20.0 1,376 1,627 -15.4
Proposals 36 80 61 -55.0 -41.0 836 843 -0.8
Alberta 739 873 790 -15.3 -6.5 10,381 11,334 -8.4
Bankruptcies 501 596 563 -15.9 -11.0 7,293 8,528 -14.5
Proposals 238 277 227 -14.1 4.8 3,088 2,806 10.0
British Columbia 910 1,037 1,032 -12.2 -11.8 11,919 13,006 -8.4
Bankruptcies 589 649 767 -9.2 -23.2 8,232 9,903 -16.9
Proposals 321 388 265 -17.3 21.1 3,687 3,103 18.8
Northwest Territories 6 1 2 500.0 200.0 47 44 6.8
Bankruptcies 6 1 1 500.0 500.0 33 31 6.5
Proposals 0 0 1 -- -100.0 14 13 7.7
Yukon 4 2 11 100.0 -63.6 37 41 -9.8
Bankruptcies 3 2 11 50.0 -72.7 32 34 -5.9
Proposals 1 0 0 -- -- 5 7 -28.6
Nunavut 0 0 1 -- -100.0 7 4 75.0
Bankruptcies 0 0 1 -- -100.0 6 4 50.0
Proposals 0 0 0 -- -- 1 0 --
Canada 9,546 11,275 10,353 -15.3 -7.8 127,774 140,234 -8.9
Bankruptcies 6,063 6,937 7,058 -12.6 -14.1 81,636 96,766 -15.6
Proposals 3,483 4,338 3,295 -19.7 5.7 46,138 43,468 6.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Dec. 2011 Nov. 2011 Dec. 2010 Nov. 2011 to Dec. 2011 Dec. 2010 to Dec. 2011 12-31-2011 12-31-2010 % Change
Newfoundland and Labrador 111 170 178 -34.7 -37.6 2,081 2,521 -17.5
Bankruptcies 102 156 163 -34.6 -37.4 1,957 2,378 -17.7
Proposals 9 14 15 -35.7 -40.0 124 143 -13.3
Prince Edward Island 42 40 52 5.0 -19.2 620 576 7.6
Bankruptcies 27 35 46 -22.9 -41.3 520 512 1.6
Proposals 15 5 6 200.0 150.0 100 64 56.3
Nova Scotia 340 360 371 -5.6 -8.4 4,556 5,130 -11.2
Bankruptcies 272 262 299 3.8 -9.0 3,587 4,180 -14.2
Proposals 68 98 72 -30.6 -5.6 969 950 2.0
New Brunswick 271 276 279 -1.8 -2.9 3,500 3,713 -5.7
Bankruptcies 217 222 231 -2.3 -6.1 2,848 3,109 -8.4
Proposals 54 54 48 0.0 12.5 652 604 7.9
Quebec 2,576 3,262 2,576 -21.0 0.0 35,768 37,771 -5.3
Bankruptcies 1,809 2,261 1,944 -20.0 -6.9 25,627 28,100 -8.8
Proposals 767 1,001 632 -23.4 21.4 10,141 9,671 4.9
Ontario 3,948 4,555 4,328 -13.3 -8.8 50,460 56,619 -10.9
Bankruptcies 2,083 2,277 2,462 -8.5 -15.4 25,529 33,000 -22.6
Proposals 1,865 2,278 1,866 -18.1 -0.1 24,931 23,619 5.6
Manitoba 153 164 201 -6.7 -23.9 2,155 2,673 -19.4
Bankruptcies 112 112 161 0.0 -30.4 1,514 1,994 -24.1
Proposals 41 52 40 -21.2 2.5 641 679 -5.6
Saskatchewan 122 159 165 -23.3 -26.1 2,055 2,326 -11.7
Bankruptcies 89 83 107 7.2 -16.8 1,272 1,528 -16.8
Proposals 33 76 58 -56.6 -43.1 783 798 -1.9
Alberta 714 847 740 -15.7 -3.5 10,040 10,870 -7.6
Bankruptcies 483 577 519 -16.3 -6.9 7,029 8,150 -13.8
Proposals 231 270 221 -14.4 4.5 3,011 2,720 10.7
British Columbia 884 1,027 1,014 -13.9 -12.8 11,676 12,723 -8.2
Bankruptcies 569 641 754 -11.2 -24.5 8,040 9,674 -16.9
Proposals 315 386 260 -18.4 21.2 3,636 3,049 19.3
Northwest Territories 6 1 2 500.0 200.0 45 43 4.7
Bankruptcies 6 1 1 500.0 500.0 33 31 6.5
Proposals 0 0 1 -- -100.0 12 12 0.0
Yukon 4 2 11 100.0 -63.6 36 39 -7.7
Bankruptcies 3 2 11 50.0 -72.7 31 34 -8.8
Proposals 1 0 0 -- -- 5 5 0.0
Nunavut 0 0 1 -- -100.0 7 4 75.0
Bankruptcies 0 0 1 -- -100.0 6 4 50.0
Proposals 0 0 0 -- -- 1 0 --
Canada 9,171 10,863 9,918 -15.6 -7.5 122,999 135,008 -8.9
Bankruptcies 5,772 6,629 6,699 -12.9 -13.8 77,993 92,694 -15.9
Proposals 3,399 4,234 3,219 -19.7 5.6 45,006 42,314 6.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Dec. 2011 Nov. 2011 Dec. 2010 Nov. 2011 to Dec. 2011 Dec. 2010 to Dec. 2011 12-31-2011 12-31-2010 % Change
Newfoundland and Labrador 0 0 5 -- -100.0 26 23 13.0
Bankruptcies 0 0 3 -- -100.0 24 21 14.3
Proposals 0 0 2 -- -100.0 2 2 0.0
Prince Edward Island 0 2 1 -100.0 -100.0 17 22 -22.7
Bankruptcies 0 2 0 -100.0 -- 15 16 -6.3
Proposals 0 0 1 -- -100.0 2 6 -66.7
Nova Scotia 8 5 18 60.0 -55.6 113 167 -32.3
Bankruptcies 8 3 15 166.7 -46.7 95 138 -31.2
Proposals 0 2 3 -100.0 -100.0 18 29 -37.9
New Brunswick 1 4 2 -75.0 -50.0 60 83 -27.7
Bankruptcies 0 4 2 -100.0 -100.0 43 70 -38.6
Proposals 1 0 0 -- -- 17 13 30.8
Quebec 150 212 188 -29.2 -20.2 2,127 2,099 1.3
Bankruptcies 115 153 152 -24.8 -24.3 1,569 1,520 3.2
Proposals 35 59 36 -40.7 -2.8 558 579 -3.6
Ontario 151 130 138 16.2 9.4 1,614 1,860 -13.2
Bankruptcies 120 102 118 17.6 1.7 1,276 1,533 -16.8
Proposals 31 28 20 10.7 55.0 338 327 3.4
Manitoba 8 10 4 -20.0 100.0 74 78 -5.1
Bankruptcies 7 8 4 -12.5 75.0 60 68 -11.8
Proposals 1 2 0 -50.0 -- 14 10 40.0
Saskatchewan 6 13 11 -53.8 -45.5 157 144 9.0
Bankruptcies 3 9 8 -66.7 -62.5 104 99 5.1
Proposals 3 4 3 -25.0 0.0 53 45 17.8
Alberta 25 26 50 -3.8 -50.0 341 464 -26.5
Bankruptcies 18 19 44 -5.3 -59.1 264 378 -30.2
Proposals 7 7 6 0.0 16.7 77 86 -10.5
British Columbia 26 10 18 160.0 44.4 243 283 -14.1
Bankruptcies 20 8 13 150.0 53.8 192 229 -16.2
Proposals 6 2 5 200.0 20.0 51 54 -5.6
Northwest Territories 0 0 0 -- -- 2 1 100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 2 1 100.0
Yukon 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 2 -100.0
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 375 412 435 -9.0 -13.8 4,775 5,226 -8.6
Bankruptcies 291 308 359 -5.5 -18.9 3,643 4,072 -10.5
Proposals 84 104 76 -19.2 10.5 1,132 1,154 -1.9
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Sector Volume % Change 12-Month Period Ending
Dec. 2011 Nov. 2011 Dec. 2010 Nov. 2011 to Dec. 2011 Dec. 2010 to Dec. 2011 12-31-2011 12-31-2010 % Change
Agriculture, Forestry, Fishing and Hunting 4 15 11 -73.3 -63.6 134 144 -6.9
Bankruptcies 3 10 7 -70.0 -57.1 91 103 -11.7
Proposals 1 5 4 -80.0 -75.0 43 41 4.9
Mining and Oil and Gas Extraction 1 1 3 0.0 -66.7 26 59 -55.9
Bankruptcies 1 1 2 0.0 -50.0 20 34 -41.2
Proposals 0 0 1 -- -100.0 6 25 -76.0
Utilities 0 2 0 -100.0 -- 14 10 40.0
Bankruptcies 0 2 0 -100.0 -- 10 10 0.0
Proposals 0 0 0 -- -- 4 0 --
Construction 56 44 72 27.3 -22.2 782 863 -9.4
Bankruptcies 46 36 60 27.8 -23.3 620 696 -10.9
Proposals 10 8 12 25.0 -16.7 162 167 -3.0
Manufacturing 50 39 32 28.2 56.3 554 564 -1.8
Bankruptcies 40 27 26 48.1 53.8 393 426 -7.7
Proposals 10 12 6 -16.7 66.7 161 138 16.7
Wholesale Trade 19 26 29 -26.9 -34.5 261 301 -13.3
Bankruptcies 14 18 26 -22.2 -46.2 198 241 -17.8
Proposals 5 8 3 -37.5 66.7 63 60 5.0
Retail Trade 53 56 67 -5.4 -20.9 648 752 -13.8
Bankruptcies 36 37 59 -2.7 -39.0 505 604 -16.4
Proposals 17 19 8 -10.5 112.5 143 148 -3.4
Transportation and Warehousing 23 27 35 -14.8 -34.3 310 403 -23.1
Bankruptcies 16 22 29 -27.3 -44.8 252 334 -24.6
Proposals 7 5 6 40.0 16.7 58 69 -15.9
Information and Cultural Industries 5 7 10 -28.6 -50.0 78 82 -4.9
Bankruptcies 5 6 6 -16.7 -16.7 53 51 3.9
Proposals 0 1 4 -100.0 -100.0 25 31 -19.4
Finance and Insurance 10 9 10 11.1 0.0 107 107 0.0
Bankruptcies 10 6 8 66.7 25.0 80 86 -7.0
Proposals 0 3 2 -100.0 -100.0 27 21 28.6
Real Estate and Rental and Leasing 9 11 12 -18.2 -25.0 142 183 -22.4
Bankruptcies 6 6 11 0.0 -45.5 104 136 -23.5
Proposals 3 5 1 -40.0 200.0 38 47 -19.1
Professional, Scientific and Technical Services 24 35 35 -31.4 -31.4 290 327 -11.3
Bankruptcies 18 24 30 -25.0 -40.0 198 242 -18.2
Proposals 6 11 5 -45.5 20.0 92 85 8.2
Management of Companies and Enterprises 5 4 7 25.0 -28.6 52 68 -23.5
Bankruptcies 5 3 6 66.7 -16.7 43 48 -10.4
Proposals 0 1 1 -100.0 -100.0 9 20 -55.0
Administrative and Support, Waste Management and Remediation Services 20 26 23 -23.1 -13.0 213 218 -2.3
Bankruptcies 13 18 22 -27.8 -40.9 164 174 -5.7
Proposals 7 8 1 -12.5 600.0 49 44 11.4
Educational Services 3 2 4 50.0 -25.0 32 41 -22.0
Bankruptcies 3 2 3 50.0 0.0 23 32 -28.1
Proposals 0 0 1 -- -100.0 9 9 0.0
Health Care and Social Assistance 5 5 3 0.0 66.7 85 62 37.1
Bankruptcies 2 3 2 -33.3 0.0 63 43 46.5
Proposals 3 2 1 50.0 200.0 22 19 15.8
Arts, Entertainment and Recreation 7 9 7 -22.2 0.0 86 110 -21.8
Bankruptcies 6 9 6 -33.3 0.0 74 91 -18.7
Proposals 1 0 1 -- 0.0 12 19 -36.8
Accommodation and Food Services 58 61 48 -4.9 20.8 658 639 3.0
Bankruptcies 45 50 34 -10.0 32.4 510 473 7.8
Proposals 13 11 14 18.2 -7.1 148 166 -10.8
Other Services (except Public Administration) 23 32 26 -28.1 -11.5 297 285 4.2
Bankruptcies 22 27 22 -18.5 0.0 238 243 -2.1
Proposals 1 5 4 -80.0 -75.0 59 42 40.5
Public Administration 0 1 1 -100.0 -100.0 5 8 -37.5
Bankruptcies 0 1 0 -100.0 -- 3 5 -40.0
Proposals 0 0 1 -- -100.0 2 3 -33.3
Total 375 412 435 -9.0 -13.8 4,775 5,226 -8.6
Bankruptcies 291 308 359 -5.5 -18.9 3,643 4,072 -10.5
Proposals 84 104 76 -19.2 10.5 1,132 1,154 -1.9