Insolvency Statistics in Canada—February 2012

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Insolvency Statistics in Canada - February 2012

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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
Feb. 2012 Jan. 2012 Feb. 2011 Jan. 2012 to Feb. 2012 Feb. 2011 to Feb. 2012 02-29-2012 02-28-2011 % Change
Newfoundland and Labrador 154 118 157 30.5 -1.9 2,070 2,460 -15.9
Bankruptcies 143 106 147 34.9 -2.7 1,938 2,320 -16.5
Proposals 11 12 10 -8.3 10.0 132 140 -5.7
Prince Edward Island 55 49 47 12.2 17.0 645 611 5.6
Bankruptcies 44 37 40 18.9 10.0 528 546 -3.3
Proposals 11 12 7 -8.3 57.1 117 65 80.0
Nova Scotia 404 298 422 35.6 -4.3 4,605 5,260 -12.5
Bankruptcies 299 242 321 23.6 -6.9 3,621 4,266 -15.1
Proposals 105 56 101 87.5 4.0 984 994 -1.0
New Brunswick 337 300 266 12.3 26.7 3,732 3,704 0.8
Bankruptcies 244 236 224 3.4 8.9 2,985 3,113 -4.1
Proposals 93 64 42 45.3 121.4 747 591 26.4
Quebec 3,389 2,914 3,337 16.3 1.6 37,879 39,693 -4.6
Bankruptcies 2,328 2,040 2,384 14.1 -2.3 27,048 29,332 -7.8
Proposals 1,061 874 953 21.4 11.3 10,831 10,361 4.5
Ontario 4,254 3,614 4,136 17.7 2.9 52,099 57,389 -9.2
Bankruptcies 2,028 1,734 2,021 17.0 0.3 26,698 32,991 -19.1
Proposals 2,226 1,880 2,115 18.4 5.2 25,401 24,398 4.1
Manitoba 162 146 201 11.0 -19.4 2,178 2,709 -19.6
Bankruptcies 106 98 131 8.2 -19.1 1,529 1,998 -23.5
Proposals 56 48 70 16.7 -20.0 649 711 -8.7
Saskatchewan 153 176 162 -13.1 -5.6 2,172 2,406 -9.7
Bankruptcies 86 95 96 -9.5 -10.4 1,334 1,556 -14.3
Proposals 67 81 66 -17.3 1.5 838 850 -1.4
Alberta 827 805 886 2.7 -6.7 10,279 11,228 -8.5
Bankruptcies 558 537 658 3.9 -15.2 7,122 8,416 -15.4
Proposals 269 268 228 0.4 18.0 3,157 2,812 12.3
British Columbia 1,110 888 1,012 25.0 9.7 11,994 12,902 -7.0
Bankruptcies 726 568 749 27.8 -3.1 8,105 9,774 -17.1
Proposals 384 320 263 20.0 46.0 3,889 3,128 24.3
Northwest Territories 4 4 5 0.0 -20.0 46 46 0.0
Bankruptcies 4 1 2 300.0 100.0 34 30 13.3
Proposals 0 3 3 -100.0 -100.0 12 16 -25.0
Yukon 2 2 1 0.0 100.0 35 42 -16.7
Bankruptcies 2 1 0 100.0 — 30 37 -18.9
Proposals 0 1 1 -100.0 -100.0 5 5 0.0
Nunavut 1 0 1 — 0.0 7 5 40.0
Bankruptcies 0 0 1 — -100.0 5 5 0.0
Proposals 1 0 0 — — 2 0 —
Canada 10,852 9,314 10,633 16.5 2.1 127,741 138,455 -7.7
Bankruptcies 6,568 5,695 6,774 15.3 -3.0 80,977 94,384 -14.2
Proposals 4,284 3,619 3,859 18.4 11.0 46,764 44,071 6.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Feb. 2012 Jan. 2012 Feb. 2011 Jan. 2012 to Feb. 2012 Feb. 2011 to Feb. 2012 02-29-2012 02-28-2011 % Change
Newfoundland and Labrador 153 116 154 31.9 -0.6 2,045 2,437 -16.1
Bankruptcies 142 104 144 36.5 -1.4 1,915 2,299 -16.7
Proposals 11 12 10 -8.3 10.0 130 138 -5.8
Prince Edward Island 51 46 46 10.9 10.9 622 591 5.2
Bankruptcies 40 37 39 8.1 2.6 510 532 -4.1
Proposals 11 9 7 22.2 57.1 112 59 89.8
Nova Scotia 391 292 409 33.9 -4.4 4,498 5,083 -11.5
Bankruptcies 288 238 310 21.0 -7.1 3,531 4,122 -14.3
Proposals 103 54 99 90.7 4.0 967 961 0.6
New Brunswick 328 293 261 11.9 25.7 3,664 3,633 0.9
Bankruptcies 237 229 221 3.5 7.2 2,932 3,053 -4.0
Proposals 91 64 40 42.2 127.5 732 580 26.2
Quebec 3,214 2,744 3,163 17.1 1.6 35,734 37,622 -5.0
Bankruptcies 2,195 1,919 2,245 14.4 -2.2 25,480 27,809 -8.4
Proposals 1,019 825 918 23.5 11.0 10,254 9,813 4.5
Ontario 4,140 3,496 4,020 18.4 3.0 50,478 55,637 -9.3
Bankruptcies 1,938 1,643 1,932 18.0 0.3 25,421 31,551 -19.4
Proposals 2,202 1,853 2,088 18.8 5.5 25,057 24,086 4.0
Manitoba 155 142 194 9.2 -20.1 2,104 2,636 -20.2
Bankruptcies 102 95 128 7.4 -20.3 1,469 1,939 -24.2
Proposals 53 47 66 12.8 -19.7 635 697 -8.9
Saskatchewan 144 158 151 -8.9 -4.6 2,017 2,268 -11.1
Bankruptcies 81 81 88 0.0 -8.0 1,229 1,460 -15.8
Proposals 63 77 63 -18.2 0.0 788 808 -2.5
Alberta 789 780 860 1.2 -8.3 9,937 10,778 -7.8
Bankruptcies 533 517 636 3.1 -16.2 6,865 8,043 -14.6
Proposals 256 263 224 -2.7 14.3 3,072 2,735 12.3
British Columbia 1,077 871 1,000 23.7 7.7 11,736 12,646 -7.2
Bankruptcies 702 555 741 26.5 -5.3 7,906 9,561 -17.3
Proposals 375 316 259 18.7 44.8 3,830 3,085 24.1
Northwest Territories 4 4 5 0.0 -20.0 45 44 2.3
Bankruptcies 4 1 2 300.0 100.0 34 30 13.3
Proposals 0 3 3 -100.0 -100.0 11 14 -21.4
Yukon 2 2 1 0.0 100.0 34 40 -15.0
Bankruptcies 2 1 0 100.0 — 29 37 -21.6
Proposals 0 1 1 -100.0 -100.0 5 3 66.7
Nunavut 1 0 1 — 0.0 7 5 40.0
Bankruptcies 0 0 1 — -100.0 5 5 0.0
Proposals 1 0 0 — — 2 0 —
Canada 10,449 8,944 10,265 16.8 1.8 122,921 133,420 -7.9
Bankruptcies 6,264 5,420 6,487 15.6 -3.4 77,326 90,441 -14.5
Proposals 4,185 3,524 3,778 18.8 10.8 45,595 42,979 6.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Feb. 2012 Jan. 2012 Feb. 2011 Jan. 2012 to Feb. 2012 Feb. 2011 to Feb. 2012 02-29-2012 02-28-2011 % Change
Newfoundland and Labrador 1 2 3 -50.0 -66.7 25 23 8.7
Bankruptcies 1 2 3 -50.0 -66.7 23 21 9.5
Proposals 0 0 0 — — 2 2 0.0
Prince Edward Island 4 3 1 33.3 300.0 23 20 15.0
Bankruptcies 4 0 1 — 300.0 18 14 28.6
Proposals 0 3 0 -100.0 — 5 6 -16.7
Nova Scotia 13 6 13 116.7 0.0 107 177 -39.5
Bankruptcies 11 4 11 175.0 0.0 90 144 -37.5
Proposals 2 2 2 0.0 0.0 17 33 -48.5
New Brunswick 9 7 5 28.6 80.0 68 71 -4.2
Bankruptcies 7 7 3 0.0 133.3 53 60 -11.7
Proposals 2 0 2 — 0.0 15 11 36.4
Quebec 175 170 174 2.9 0.6 2,145 2,071 3.6
Bankruptcies 133 121 139 9.9 -4.3 1,568 1,523 3.0
Proposals 42 49 35 -14.3 20.0 577 548 5.3
Ontario 114 118 116 -3.4 -1.7 1,621 1,752 -7.5
Bankruptcies 90 91 89 -1.1 1.1 1,277 1,440 -11.3
Proposals 24 27 27 -11.1 -11.1 344 312 10.3
Manitoba 7 4 7 75.0 0.0 74 73 1.4
Bankruptcies 4 3 3 33.3 33.3 60 59 1.7
Proposals 3 1 4 200.0 -25.0 14 14 0.0
Saskatchewan 9 18 11 -50.0 -18.2 155 138 12.3
Bankruptcies 5 14 8 -64.3 -37.5 105 96 9.4
Proposals 4 4 3 0.0 33.3 50 42 19.0
Alberta 38 25 26 52.0 46.2 342 450 -24.0
Bankruptcies 25 20 22 25.0 13.6 257 373 -31.1
Proposals 13 5 4 160.0 225.0 85 77 10.4
British Columbia 33 17 12 94.1 175.0 258 256 0.8
Bankruptcies 24 13 8 84.6 200.0 199 213 -6.6
Proposals 9 4 4 125.0 125.0 59 43 37.2
Northwest Territories 0 0 0 — — 1 2 -50.0
Bankruptcies 0 0 0 — — 0 0 —
Proposals 0 0 0 — — 1 2 -50.0
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 403 370 368 8.9 9.5 4,820 5,035 -4.3
Bankruptcies 304 275 287 10.5 5.9 3,651 3,943 -7.4
Proposals 99 95 81 4.2 22.2 1,169 1,092 7.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Province Volume % Change 12-Month Period Ending
Feb. 2012 Jan. 2012 Feb. 2011 Jan. 2012 to Feb. 2012 Feb. 2011 to Feb. 2012 02-29-2012 02-28-2011 % Change
Agriculture, Forestry, Fishing and Hunting 13 9 13 44.4 0.0 136 135 0.7
Bankruptcies 11 7 10 57.1 10.0 96 93 3.2
Proposals 2 2 3 0.0 -33.3 40 42 -4.8
Mining and Oil and Gas Extraction 0 2 1 -100.0 -100.0 20 52 -61.5
Bankruptcies 0 1 0 -100.0 — 14 34 -58.8
Proposals 0 1 1 -100.0 -100.0 6 18 -66.7
Utilities 0 3 0 -100.0 — 17 8 112.5
Bankruptcies 0 2 0 -100.0 — 12 8 50.0
Proposals 0 1 0 -100.0 — 5 0 —
Construction 70 77 76 -9.1 -7.9 797 833 -4.3
Bankruptcies 48 55 62 -12.7 -22.6 615 681 -9.7
Proposals 22 22 14 0.0 57.1 182 152 19.7
Manufacturing 40 42 32 -4.8 25.0 568 531 7.0
Bankruptcies 31 31 21 0.0 47.6 407 396 2.8
Proposals 9 11 11 -18.2 -18.2 161 135 19.3
Wholesale Trade 21 22 21 -4.5 0.0 267 296 -9.8
Bankruptcies 15 18 16 -16.7 -6.3 203 236 -14.0
Proposals 6 4 5 50.0 20.0 64 60 6.7
Retail Trade 41 54 50 -24.1 -18.0 633 720 -12.1
Bankruptcies 31 38 40 -18.4 -22.5 485 582 -16.7
Proposals 10 16 10 -37.5 0.0 148 138 7.2
Transportation and Warehousing 20 23 18 -13.0 11.1 309 359 -13.9
Bankruptcies 16 19 16 -15.8 0.0 253 297 -14.8
Proposals 4 4 2 0.0 100.0 56 62 -9.7
Information and Cultural Industries 5 2 4 150.0 25.0 74 80 -7.5
Bankruptcies 5 2 3 150.0 66.7 53 51 3.9
Proposals 0 0 1 — -100.0 21 29 -27.6
Finance and Insurance 9 4 2 125.0 350.0 104 102 2.0
Bankruptcies 8 2 2 300.0 300.0 77 82 -6.1
Proposals 1 2 0 -50.0 — 27 20 35.0
Real Estate and Rental and Leasing 16 6 20 166.7 -20.0 128 190 -32.6
Bankruptcies 11 5 14 120.0 -21.4 95 142 -33.1
Proposals 5 1 6 400.0 -16.7 33 48 -31.3
Professional, Scientific and Technical Services 30 25 25 20.0 20.0 308 303 1.7
Bankruptcies 21 18 21 16.7 0.0 207 227 -8.8
Proposals 9 7 4 28.6 125.0 101 76 32.9
Management of Companies and Enterprises 7 5 2 40.0 250.0 60 68 -11.8
Bankruptcies 5 3 1 66.7 400.0 49 47 4.3
Proposals 2 2 1 0.0 100.0 11 21 -47.6
Administrative and Support, Waste Management and Remediation Services 26 16 14 62.5 85.7 229 211 8.5
Bankruptcies 17 12 9 41.7 88.9 172 168 2.4
Proposals 9 4 5 125.0 80.0 57 43 32.6
Educational Services 6 0 0 — — 34 42 -19.0
Bankruptcies 5 0 0 — — 25 33 -24.2
Proposals 1 0 0 — — 9 9 0.0
Health Care and Social Assistance 3 6 4 -50.0 -25.0 83 59 40.7
Bankruptcies 2 6 4 -66.7 -50.0 61 42 45.2
Proposals 1 0 0 — — 22 17 29.4
Arts, Entertainment and Recreation 10 2 7 400.0 42.9 89 94 -5.3
Bankruptcies 9 2 6 350.0 50.0 77 78 -1.3
Proposals 1 0 1 — 0.0 12 16 -25.0
Accommodation and Food Services 57 53 50 7.5 14.0 668 649 2.9
Bankruptcies 45 38 39 18.4 15.4 513 490 4.7
Proposals 12 15 11 -20.0 9.1 155 159 -2.5
Other Services (except Public Administration) 29 19 29 52.6 0.0 291 297 -2.0
Bankruptcies 24 16 23 50.0 4.3 233 253 -7.9
Proposals 5 3 6 66.7 -16.7 58 44 31.8
Public Administration 0 0 0 — — 4 6 -33.3
Bankruptcies 0 0 0 — — 3 3 0.0
Proposals 0 0 0 — — 1 3 -66.7
Total 403 370 368 8.9 9.5 4,820 5,035 -4.3
Bankruptcies 304 275 287 10.5 5.9 3,651 3,943 -7.4
Proposals 99 95 81 4.2 22.2 1,169 1,092 7.1
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