Detailed report
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Insolvency Statistics in Canada—February 2014
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Tables
- Table 1: Total Insolvencies
- Table 2: Insolvencies Filed by Consumers
- Table 3: Insolvencies Filed by Businesses
- Table 4: Insolvencies by NAICS Economic Sectors, Canada
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 a 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.
Province | Volume | % Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Feb. 2014 | Jan. 2014 | Feb. 2013 | Jan. 2014 to Feb. 2014 | Feb. 2013 to Feb. 2014 | 02-28-2014 | 02-28-2013 | % Change | |
Newfoundland and Labrador | 128 | 110 | 149 | 16.4 | -14.1 | 1,656 | 1,789 | -7.4 |
Bankruptcies | 116 | 101 | 136 | 14.9 | -14.7 | 1,492 | 1,647 | -9.4 |
Proposals | 12 | 9 | 13 | 33.3 | -7.7 | 164 | 142 | 15.5 |
Prince Edward Island | 48 | 64 | 47 | -25.0 | 2.1 | 655 | 628 | 4.3 |
Bankruptcies | 29 | 48 | 35 | -39.6 | -17.1 | 458 | 481 | -4.8 |
Proposals | 19 | 16 | 12 | 18.8 | 58.3 | 197 | 147 | 34.0 |
Nova Scotia | 434 | 302 | 340 | 43.7 | 27.6 | 4,847 | 4,346 | 11.5 |
Bankruptcies | 287 | 198 | 232 | 44.9 | 23.7 | 3,407 | 3,223 | 5.7 |
Proposals | 147 | 104 | 108 | 41.3 | 36.1 | 1,440 | 1,123 | 28.2 |
New Brunswick | 333 | 310 | 315 | 7.4 | 5.7 | 4,072 | 3,884 | 4.8 |
Bankruptcies | 236 | 215 | 233 | 9.8 | 1.3 | 2,902 | 2,938 | -1.2 |
Proposals | 97 | 95 | 82 | 2.1 | 18.3 | 1,170 | 946 | 23.7 |
Quebec | 3,670 | 3,451 | 3,460 | 6.3 | 6.1 | 42,468 | 38,421 | 10.5 |
Bankruptcies | 2,188 | 2,097 | 2,209 | 4.3 | -1.0 | 26,733 | 25,883 | 3.3 |
Proposals | 1,482 | 1,354 | 1,251 | 9.5 | 18.5 | 15,735 | 12,538 | 25.5 |
Ontario | 3,425 | 3,113 | 3,406 | 10.0 | 0.6 | 44,882 | 47,884 | -6.3 |
Bankruptcies | 1,566 | 1,415 | 1,621 | 10.7 | -3.4 | 22,400 | 23,828 | -6.0 |
Proposals | 1,859 | 1,698 | 1,785 | 9.5 | 4.1 | 22,482 | 24,056 | -6.5 |
Manitoba | 130 | 122 | 125 | 6.6 | 4.0 | 1,922 | 1,867 | 2.9 |
Bankruptcies | 84 | 76 | 76 | 10.5 | 10.5 | 1,266 | 1,271 | -0.4 |
Proposals | 46 | 46 | 49 | 0.0 | -6.1 | 656 | 596 | 10.1 |
Saskatchewan | 154 | 166 | 126 | -7.2 | 22.2 | 1,867 | 1,789 | 4.4 |
Bankruptcies | 90 | 99 | 77 | -9.1 | 16.9 | 1,135 | 1,059 | 7.2 |
Proposals | 64 | 67 | 49 | -4.5 | 30.6 | 732 | 730 | 0.3 |
Alberta | 679 | 644 | 713 | 5.4 | -4.8 | 8,311 | 9,346 | -11.1 |
Bankruptcies | 313 | 343 | 426 | -8.7 | -26.5 | 4,600 | 5,776 | -20.4 |
Proposals | 366 | 301 | 287 | 21.6 | 27.5 | 3,711 | 3,570 | 3.9 |
British Columbia | 921 | 859 | 984 | 7.2 | -6.4 | 11,926 | 11,877 | 0.4 |
Bankruptcies | 541 | 499 | 601 | 8.4 | -10.0 | 7,153 | 7,666 | -6.7 |
Proposals | 380 | 360 | 383 | 5.6 | -0.8 | 4,773 | 4,211 | 13.3 |
Northwest Territories | 4 | 0 | 4 | -- | 0.0 | 49 | 52 | -5.8 |
Bankruptcies | 2 | 0 | 3 | -- | -33.3 | 29 | 28 | 3.6 |
Proposals | 2 | 0 | 1 | -- | 100.0 | 20 | 24 | -16.7 |
Yukon | 3 | 5 | 6 | -40.0 | -50.0 | 33 | 40 | -17.5 |
Bankruptcies | 1 | 5 | 3 | -80.0 | -66.7 | 25 | 24 | 4.2 |
Proposals | 2 | 0 | 3 | -- | -33.3 | 8 | 16 | -50.0 |
Nunavut | 1 | 2 | 0 | -50.0 | -- | 8 | 3 | 166.7 |
Bankruptcies | 0 | 2 | 0 | -100.0 | -- | 5 | 1 | 400.0 |
Proposals | 1 | 0 | 0 | -- | -- | 3 | 2 | 50.0 |
Canada | 9,930 | 9,148 | 9,675 | 8.5 | 2.6 | 122,696 | 121,926 | 0.6 |
Bankruptcies | 5,453 | 5,098 | 5,652 | 7.0 | -3.5 | 71,605 | 73,825 | -3.0 |
Proposals | 4,477 | 4,050 | 4,023 | 10.5 | 11.3 | 51,091 | 48,101 | 6.2 |
Province | Volume | % Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Feb. 2014 | Jan. 2014 | Feb. 2013 | Jan. 2014 to Feb. 2014 | Feb. 2013 to Feb. 2014 | 02-28-2014 | 02-28-2013 | % Change | |
Newfoundland and Labrador | 127 | 106 | 148 | 19.8 | -14.2 | 1,625 | 1,767 | -8.0 |
Bankruptcies | 115 | 98 | 135 | 17.3 | -14.8 | 1,471 | 1,631 | -9.8 |
Proposals | 12 | 8 | 13 | 50.0 | -7.7 | 154 | 136 | 13.2 |
Prince Edward Island | 48 | 64 | 44 | -25.0 | 9.1 | 638 | 612 | 4.2 |
Bankruptcies | 29 | 48 | 32 | -39.6 | -9.4 | 446 | 466 | -4.3 |
Proposals | 19 | 16 | 12 | 18.8 | 58.3 | 192 | 146 | 31.5 |
Nova Scotia | 427 | 298 | 328 | 43.3 | 30.2 | 4,748 | 4,236 | 12.1 |
Bankruptcies | 284 | 195 | 224 | 45.6 | 26.8 | 3,334 | 3,135 | 6.3 |
Proposals | 143 | 103 | 104 | 38.8 | 37.5 | 1,414 | 1,101 | 28.4 |
New Brunswick | 327 | 305 | 308 | 7.2 | 6.2 | 3,992 | 3,817 | 4.6 |
Bankruptcies | 233 | 210 | 228 | 11.0 | 2.2 | 2,839 | 2,890 | -1.8 |
Proposals | 94 | 95 | 80 | -1.1 | 17.5 | 1,153 | 927 | 24.4 |
Quebec | 3,465 | 3,286 | 3,246 | 5.4 | 6.7 | 40,282 | 36,383 | 10.7 |
Bankruptcies | 2,039 | 1,970 | 2,058 | 3.5 | -0.9 | 25,126 | 24,389 | 3.0 |
Proposals | 1,426 | 1,316 | 1,188 | 8.4 | 20.0 | 15,156 | 11,994 | 26.4 |
Ontario | 3,342 | 3,013 | 3,317 | 10.9 | 0.8 | 43,663 | 46,571 | -6.2 |
Bankruptcies | 1,511 | 1,342 | 1,556 | 12.6 | -2.9 | 21,457 | 22,824 | -6.0 |
Proposals | 1,831 | 1,671 | 1,761 | 9.6 | 4.0 | 22,206 | 23,747 | -6.5 |
Manitoba | 125 | 118 | 119 | 5.9 | 5.0 | 1,858 | 1,817 | 2.3 |
Bankruptcies | 79 | 72 | 70 | 9.7 | 12.9 | 1,213 | 1,231 | -1.5 |
Proposals | 46 | 46 | 49 | 0.0 | -6.1 | 645 | 586 | 10.1 |
Saskatchewan | 145 | 148 | 114 | -2.0 | 27.2 | 1,743 | 1,669 | 4.4 |
Bankruptcies | 87 | 87 | 73 | 0.0 | 19.2 | 1,059 | 992 | 6.8 |
Proposals | 58 | 61 | 41 | -4.9 | 41.5 | 684 | 677 | 1.0 |
Alberta | 663 | 636 | 694 | 4.2 | -4.5 | 8,128 | 9,062 | -10.3 |
Bankruptcies | 302 | 336 | 412 | -10.1 | -26.7 | 4,469 | 5,567 | -19.7 |
Proposals | 361 | 300 | 282 | 20.3 | 28.0 | 3,659 | 3,495 | 4.7 |
British Columbia | 897 | 844 | 953 | 6.3 | -5.9 | 11,684 | 11,607 | 0.7 |
Bankruptcies | 524 | 486 | 582 | 7.8 | -10.0 | 6,969 | 7,476 | -6.8 |
Proposals | 373 | 358 | 371 | 4.2 | 0.5 | 4,715 | 4,131 | 14.1 |
Northwest Territories | 4 | 0 | 4 | -- | 0.0 | 49 | 51 | -3.9 |
Bankruptcies | 2 | 0 | 3 | -- | -33.3 | 29 | 28 | 3.6 |
Proposals | 2 | 0 | 1 | -- | 100.0 | 20 | 23 | -13.0 |
Yukon | 3 | 5 | 4 | -40.0 | -25.0 | 33 | 37 | -10.8 |
Bankruptcies | 1 | 5 | 1 | -80.0 | 0.0 | 25 | 21 | 19.0 |
Proposals | 2 | 0 | 3 | -- | -33.3 | 8 | 16 | -50.0 |
Nunavut | 1 | 2 | 0 | -50.0 | -- | 8 | 2 | 300.0 |
Bankruptcies | 0 | 2 | 0 | -100.0 | -- | 5 | 0 | -- |
Proposals | 1 | 0 | 0 | -- | -- | 3 | 2 | 50.0 |
Canada | 9,574 | 8,825 | 9,279 | 8.5 | 3.2 | 118,451 | 117,631 | 0.7 |
Bankruptcies | 5,206 | 4,851 | 5,374 | 7.3 | -3.1 | 68,442 | 70,650 | -3.1 |
Proposals | 4,368 | 3,974 | 3,905 | 9.9 | 11.9 | 50,009 | 46,981 | 6.4 |
Province | Volume | % Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Feb. 2014 | Jan. 2014 | Feb. 2013 | Jan. 2014 to Feb. 2014 | Feb. 2013 to Feb. 2014 | 02-28-2014 | 02-28-2013 | % Change | |
Newfoundland and Labrador | 1 | 4 | 1 | -75.0 | 0.0 | 31 | 22 | 40.9 |
Bankruptcies | 1 | 3 | 1 | -66.7 | 0.0 | 21 | 16 | 31.3 |
Proposals | 0 | 1 | 0 | -100.0 | -- | 10 | 6 | 66.7 |
Prince Edward Island | 0 | 0 | 3 | -- | -100.0 | 17 | 16 | 6.3 |
Bankruptcies | 0 | 0 | 3 | -- | -100.0 | 12 | 15 | -20.0 |
Proposals | 0 | 0 | 0 | -- | -- | 5 | 1 | 400.0 |
Nova Scotia | 7 | 4 | 12 | 75.0 | -41.7 | 99 | 110 | -10.0 |
Bankruptcies | 3 | 3 | 8 | 0.0 | -62.5 | 73 | 88 | -17.0 |
Proposals | 4 | 1 | 4 | 300.0 | 0.0 | 26 | 22 | 18.2 |
New Brunswick | 6 | 5 | 7 | 20.0 | -14.3 | 80 | 67 | 19.4 |
Bankruptcies | 3 | 5 | 5 | -40.0 | -40.0 | 63 | 48 | 31.3 |
Proposals | 3 | 0 | 2 | -- | 50.0 | 17 | 19 | -10.5 |
Quebec | 205 | 165 | 214 | 24.2 | -4.2 | 2,186 | 2,038 | 7.3 |
Bankruptcies | 149 | 127 | 151 | 17.3 | -1.3 | 1,607 | 1,494 | 7.6 |
Proposals | 56 | 38 | 63 | 47.4 | -11.1 | 579 | 544 | 6.4 |
Ontario | 83 | 100 | 89 | -17.0 | -6.7 | 1,219 | 1,313 | -7.2 |
Bankruptcies | 55 | 73 | 65 | -24.7 | -15.4 | 943 | 1,004 | -6.1 |
Proposals | 28 | 27 | 24 | 3.7 | 16.7 | 276 | 309 | -10.7 |
Manitoba | 5 | 4 | 6 | 25.0 | -16.7 | 64 | 50 | 28.0 |
Bankruptcies | 5 | 4 | 6 | 25.0 | -16.7 | 53 | 40 | 32.5 |
Proposals | 0 | 0 | 0 | -- | -- | 11 | 10 | 10.0 |
Saskatchewan | 9 | 18 | 12 | -50.0 | -25.0 | 124 | 120 | 3.3 |
Bankruptcies | 3 | 12 | 4 | -75.0 | -25.0 | 76 | 67 | 13.4 |
Proposals | 6 | 6 | 8 | 0.0 | -25.0 | 48 | 53 | -9.4 |
Alberta | 16 | 8 | 19 | 100.0 | -15.8 | 183 | 284 | -35.6 |
Bankruptcies | 11 | 7 | 14 | 57.1 | -21.4 | 131 | 209 | -37.3 |
Proposals | 5 | 1 | 5 | 400.0 | 0.0 | 52 | 75 | -30.7 |
British Columbia | 24 | 15 | 31 | 60.0 | -22.6 | 242 | 270 | -10.4 |
Bankruptcies | 17 | 13 | 19 | 30.8 | -10.5 | 184 | 190 | -3.2 |
Proposals | 7 | 2 | 12 | 250.0 | -41.7 | 58 | 80 | -27.5 |
Northwest Territories | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
Proposals | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
Yukon | 0 | 0 | 2 | -- | -100.0 | 0 | 3 | -100.0 |
Bankruptcies | 0 | 0 | 2 | -- | -100.0 | 0 | 3 | -100.0 |
Proposals | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
Nunavut | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
Proposals | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
Canada | 356 | 323 | 396 | 10.2 | -10.1 | 4,245 | 4,295 | -1.2 |
Bankruptcies | 247 | 247 | 278 | 0.0 | -11.2 | 3,163 | 3,175 | -0.4 |
Proposals | 109 | 76 | 118 | 43.4 | -7.6 | 1,082 | 1,120 | -3.4 |
Sector | Volume | % Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Feb. 2014 | Jan. 2014 | Feb. 2013 | Jan. 2014 to Feb. 2014 | Feb. 2013 to Feb. 2014 | 02-28-2014 | 02-28-2013 | % Change | |
Agriculture, Forestry, Fishing and Hunting | 5 | 9 | 9 | -44.4 | -44.4 | 128 | 112 | 14.3 |
Bankruptcies | 4 | 8 | 7 | -50.0 | -42.9 | 92 | 81 | 13.6 |
Proposals | 1 | 1 | 2 | 0.0 | -50.0 | 36 | 31 | 16.1 |
Mining and Oil and Gas Extraction | 3 | 3 | 0 | 0.0 | -- | 39 | 34 | 14.7 |
Bankruptcies | 3 | 2 | 0 | 50.0 | -- | 20 | 26 | -23.1 |
Proposals | 0 | 1 | 0 | -100.0 | -- | 19 | 8 | 137.5 |
Utilities | 0 | 1 | 4 | -100.0 | -100.0 | 6 | 22 | -72.7 |
Bankruptcies | 0 | 1 | 3 | -100.0 | -100.0 | 3 | 12 | -75.0 |
Proposals | 0 | 0 | 1 | -- | -100.0 | 3 | 10 | -70.0 |
Construction | 69 | 65 | 87 | 6.2 | -20.7 | 744 | 824 | -9.7 |
Bankruptcies | 45 | 50 | 57 | -10.0 | -21.1 | 564 | 599 | -5.8 |
Proposals | 24 | 15 | 30 | 60.0 | -20.0 | 180 | 225 | -20.0 |
Manufacturing | 34 | 32 | 35 | 6.3 | -2.9 | 419 | 423 | -0.9 |
Bankruptcies | 21 | 24 | 22 | -12.5 | -4.5 | 296 | 290 | 2.1 |
Proposals | 13 | 8 | 13 | 62.5 | 0.0 | 123 | 133 | -7.5 |
Wholesale Trade | 14 | 21 | 26 | -33.3 | -46.2 | 225 | 238 | -5.5 |
Bankruptcies | 8 | 16 | 18 | -50.0 | -55.6 | 154 | 174 | -11.5 |
Proposals | 6 | 5 | 8 | 20.0 | -25.0 | 71 | 64 | 10.9 |
Retail Trade | 40 | 45 | 50 | -11.1 | -20.0 | 520 | 569 | -8.6 |
Bankruptcies | 30 | 39 | 36 | -23.1 | -16.7 | 418 | 438 | -4.6 |
Proposals | 10 | 6 | 14 | 66.7 | -28.6 | 102 | 131 | -22.1 |
Transportation and Warehousing | 23 | 15 | 18 | 53.3 | 27.8 | 233 | 258 | -9.7 |
Bankruptcies | 14 | 11 | 12 | 27.3 | 16.7 | 181 | 209 | -13.4 |
Proposals | 9 | 4 | 6 | 125.0 | 50.0 | 52 | 49 | 6.1 |
Information and Cultural Industries | 4 | 5 | 4 | -20.0 | 0.0 | 55 | 61 | -9.8 |
Bankruptcies | 4 | 3 | 4 | 33.3 | 0.0 | 44 | 51 | -13.7 |
Proposals | 0 | 2 | 0 | -100.0 | -- | 11 | 10 | 10.0 |
Finance and Insurance | 8 | 3 | 11 | 166.7 | -27.3 | 71 | 77 | -7.8 |
Bankruptcies | 6 | 3 | 10 | 100.0 | -40.0 | 57 | 64 | -10.9 |
Proposals | 2 | 0 | 1 | -- | 100.0 | 14 | 13 | 7.7 |
Real Estate and Rental and Leasing | 9 | 9 | 13 | 0.0 | -30.8 | 145 | 109 | 33.0 |
Bankruptcies | 8 | 6 | 10 | 33.3 | -20.0 | 111 | 73 | 52.1 |
Proposals | 1 | 3 | 3 | -66.7 | -66.7 | 34 | 36 | -5.6 |
Professional, Scientific and Technical Services | 29 | 15 | 25 | 93.3 | 16.0 | 306 | 260 | 17.7 |
Bankruptcies | 23 | 9 | 20 | 155.6 | 15.0 | 218 | 191 | 14.1 |
Proposals | 6 | 6 | 5 | 0.0 | 20.0 | 88 | 69 | 27.5 |
Management of Companies and Enterprises | 2 | 5 | 4 | -60.0 | -50.0 | 71 | 58 | 22.4 |
Bankruptcies | 2 | 5 | 3 | -60.0 | -33.3 | 49 | 47 | 4.3 |
Proposals | 0 | 0 | 1 | -- | -100.0 | 22 | 11 | 100.0 |
Administrative and Support, Waste Management and Remediation Services | 18 | 8 | 11 | 125.0 | 63.6 | 193 | 192 | 0.5 |
Bankruptcies | 11 | 5 | 8 | 120.0 | 37.5 | 139 | 142 | -2.1 |
Proposals | 7 | 3 | 3 | 133.3 | 133.3 | 54 | 50 | 8.0 |
Educational Services | 5 | 2 | 3 | 150.0 | 66.7 | 36 | 31 | 16.1 |
Bankruptcies | 5 | 2 | 1 | 150.0 | 400.0 | 29 | 25 | 16.0 |
Proposals | 0 | 0 | 2 | -- | -100.0 | 7 | 6 | 16.7 |
Health Care and Social Assistance | 11 | 1 | 6 | 1,000.0 | 83.3 | 70 | 53 | 32.1 |
Bankruptcies | 6 | 1 | 4 | 500.0 | 50.0 | 52 | 42 | 23.8 |
Proposals | 5 | 0 | 2 | -- | 150.0 | 18 | 11 | 63.6 |
Arts, Entertainment and Recreation | 13 | 1 | 9 | 1,200.0 | 44.4 | 80 | 80 | 0.0 |
Bankruptcies | 11 | 1 | 8 | 1,000.0 | 37.5 | 68 | 63 | 7.9 |
Proposals | 2 | 0 | 1 | -- | 100.0 | 12 | 17 | -29.4 |
Accommodation and Food Services | 48 | 64 | 59 | -25.0 | -18.6 | 660 | 626 | 5.4 |
Bankruptcies | 31 | 47 | 40 | -34.0 | -22.5 | 481 | 434 | 10.8 |
Proposals | 17 | 17 | 19 | 0.0 | -10.5 | 179 | 192 | -6.8 |
Other Services (except Public Administration) | 21 | 19 | 22 | 10.5 | -4.5 | 244 | 265 | -7.9 |
Bankruptcies | 15 | 14 | 15 | 7.1 | 0.0 | 187 | 212 | -11.8 |
Proposals | 6 | 5 | 7 | 20.0 | -14.3 | 57 | 53 | 7.5 |
Public Administration | 0 | 0 | 0 | -- | -- | 0 | 3 | -100.0 |
Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 2 | -100.0 |
Proposals | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
Total | 356 | 323 | 396 | 10.2 | -10.1 | 4,245 | 4,295 | -1.2 |
Bankruptcies | 247 | 247 | 278 | 0.0 | -11.2 | 3,163 | 3,175 | -0.4 |
Proposals | 109 | 76 | 118 | 43.4 | -7.6 | 1,082 | 1,120 | -3.4 |