Insolvency Statistics in Canada—May 2014

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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 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.
 
Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
May 2014Apr. 2014May 2013Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-201405-31-2013% Change
Newfoundland and Labrador1531461844.8-16.81,6181,769-8.5
Bankruptcies1361341631.5-16.61,4531,625-10.6
Proposals17122141.7-19.016514414.6
Prince Edward Island67554921.836.770161314.4
Bankruptcies48433411.641.24854713.0
Proposals19121558.326.721614252.1
Nova Scotia5245004454.817.85,0034,38414.1
Bankruptcies3943593259.721.23,4943,2039.1
Proposals130141120-7.88.31,5091,18127.8
New Brunswick416430372-3.311.84,2453,81111.4
Bankruptcies298304277-2.07.62,9742,8524.3
Proposals11812695-6.324.21,27195932.5
Quebec3,9213,9533,944-0.8-0.642,67339,5108.0
Bankruptcies2,3932,4312,537-1.6-5.726,46326,0741.5
Proposals1,5281,5221,4070.48.616,21013,43620.6
Ontario3,8063,8714,271-1.7-10.943,82147,193-7.1
Bankruptcies1,8831,8462,1632.0-12.921,60223,592-8.4
Proposals1,9232,0252,108-5.0-8.822,21923,601-5.9
Manitoba172176180-2.3-4.41,9031,8711.7
Bankruptcies105116118-9.5-11.01,2421,267-2.0
Proposals67606211.78.16616049.4
Saskatchewan179196169-8.75.91,9361,7838.6
Bankruptcies112109982.814.31,1721,0709.5
Proposals678771-23.0-5.67647137.2
Alberta785790790-0.6-0.68,2719,142-9.5
Bankruptcies3823764451.6-14.24,3645,468-20.2
Proposals403414345-2.716.83,9073,6746.3
British Columbia1,1181,0081,16810.9-4.311,79411,850-0.5
Bankruptcies6556257004.8-6.47,0297,512-6.4
Proposals46338346820.9-1.14,7654,3389.8
Northwest Territories422100.0100.0564524.4
Bankruptcies301--200.0342347.8
Proposals121-50.00.022220.0
Yukon463-33.333.33743-14.0
Bankruptcies232-33.30.026254.0
Proposals231-33.3100.01118-38.9
Nunavut000----7475.0
Bankruptcies000----42100.0
Proposals000----3250.0
Canada11,14911,13311,5770.1-3.7122,065122,0180.0
Bankruptcies6,4116,3466,8631.0-6.670,34273,184-3.9
Proposals4,7384,7874,714-1.00.551,72348,8345.9
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
May 2014Apr. 2014May 2013Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-201405-31-2013% Change
Newfoundland and Labrador1501451793.4-16.21,5861,745-9.1
Bankruptcies1341331590.8-15.71,4321,608-10.9
Proposals16122033.3-20.015413712.4
Prince Edward Island66554920.034.768259814.0
Bankruptcies4743349.338.24724583.1
Proposals19121558.326.721014050.0
Nova Scotia5124934373.917.24,9024,27314.7
Bankruptcies3843543198.520.43,4233,1159.9
Proposals128139118-7.98.51,4791,15827.7
New Brunswick410423366-3.112.04,1513,74710.8
Bankruptcies293300272-2.37.72,9022,8043.5
Proposals11712394-4.924.51,24994332.4
Quebec3,7233,7163,7350.2-0.340,43737,4368.0
Bankruptcies2,2562,2512,3840.2-5.424,80924,5411.1
Proposals1,4671,4651,3510.18.615,62812,89521.2
Ontario3,7133,7754,166-1.6-10.942,68345,902-7.0
Bankruptcies1,8081,7772,0851.7-13.320,73322,587-8.2
Proposals1,9051,9982,081-4.7-8.521,95023,315-5.9
Manitoba1671671780.0-6.21,8301,8190.6
Bankruptcies102107117-4.7-12.81,1811,225-3.6
Proposals6560618.36.66495949.3
Saskatchewan169186159-9.16.31,8091,6678.5
Bankruptcies105103911.915.41,0941,0049.0
Proposals648368-22.9-5.97156637.8
Alberta768780773-1.5-0.68,1058,889-8.8
Bankruptcies3693674340.5-15.04,2435,288-19.8
Proposals399413339-3.417.73,8623,6017.2
British Columbia1,0929911,14010.2-4.211,54911,583-0.3
Bankruptcies6346116783.8-6.56,8497,321-6.4
Proposals45838046220.5-0.94,7004,26210.3
Northwest Territories422100.0100.0564524.4
Bankruptcies301--200.0342347.8
Proposals121-50.00.022220.0
Yukon463-33.333.33741-9.8
Bankruptcies232-33.30.0262313.0
Proposals231-33.3100.01118-38.9
Nunavut000----73133.3
Bankruptcies000----41300.0
Proposals000----3250.0
Canada10,77810,73911,1870.4-3.7117,834117,7480.1
Bankruptcies6,1376,0496,5761.5-6.767,20269,998-4.0
Proposals4,6414,6904,611-1.00.750,63247,7506.0
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
May 2014Apr. 2014May 2013Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-201405-31-2013% Change
Newfoundland and Labrador315200.0-40.0322433.3
Bankruptcies214100.0-50.0211723.5
Proposals101--0.011757.1
Prince Edward Island100----191526.7
Bankruptcies100----13130.0
Proposals000----62200.0
Nova Scotia127871.450.0101111-9.0
Bankruptcies1056100.066.77188-19.3
Proposals2220.00.0302330.4
New Brunswick676-14.30.0946446.9
Bankruptcies54525.00.0724850.0
Proposals131-66.70.0221637.5
Quebec198237209-16.5-5.32,2362,0747.8
Bankruptcies137180153-23.9-10.51,6541,5337.9
Proposals6157567.08.95825417.6
Ontario9396105-3.1-11.41,1381,291-11.9
Bankruptcies7569788.7-3.88691,005-13.5
Proposals182727-33.3-33.3269286-5.9
Manitoba592-44.4150.0735240.4
Bankruptcies391-66.7200.0614245.2
Proposals201--100.0121020.0
Saskatchewan1010100.00.01271169.5
Bankruptcies76716.70.0786618.2
Proposals343-25.00.04950-2.0
Alberta17101770.00.0166253-34.4
Bankruptcies1391144.418.2121180-32.8
Proposals416300.0-33.34573-38.4
British Columbia26172852.9-7.1245267-8.2
Bankruptcies21142250.0-4.5180191-5.8
Proposals53666.7-16.76576-14.5
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----02-100.0
Bankruptcies000----02-100.0
Proposals000----00--
Nunavut000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Canada371394390-5.8-4.94,2314,270-0.9
Bankruptcies274297287-7.7-4.53,1403,186-1.4
Proposals97971030.0-5.81,0911,0840.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
SectorVolume% Change12-Month Period Ending
May 2014Apr. 2014May 2013Apr. 2014
to
May 2014
May 2013
to
May 2014
05-31-201405-31-2013% Change
Agriculture, Forestry, Fishing and Hunting651020.0-40.012410715.9
Bankruptcies637100.0-14.3897715.6
Proposals023-100.0-100.0353016.7
Mining and Oil and Gas Extraction165-83.3-80.03944-11.4
Bankruptcies143-75.0-66.71930-36.7
Proposals022-100.0-100.0201442.9
Utilities100----1017-41.2
Bankruptcies000----68-25.0
Proposals100----49-55.6
Construction76696410.118.8753782-3.7
Bankruptcies56495014.312.0561575-2.4
Proposals2020140.042.9192207-7.2
Manufacturing38283635.75.6403420-4.0
Bankruptcies27212428.612.5287290-1.0
Proposals1171257.1-8.3116130-10.8
Wholesale Trade222620-15.410.0230237-3.0
Bankruptcies1818140.028.6157170-7.6
Proposals486-50.0-33.373679.0
Retail Trade3939430.0-9.3503543-7.4
Bankruptcies293032-3.3-9.4402420-4.3
Proposals1091111.1-9.1101123-17.9
Transportation and Warehousing92721-66.7-57.1236261-9.6
Bankruptcies72015-65.0-53.3183213-14.1
Proposals276-71.4-66.7534810.4
Information and Cultural Industries579-28.6-44.45364-17.2
Bankruptcies459-20.0-55.63654-33.3
Proposals120-50.0--171070.0
Finance and Insurance2410-50.0-80.06878-12.8
Bankruptcies239-33.3-77.85166-22.7
Proposals011-100.0-100.0171241.7
Real Estate and Rental and Leasing121912-36.80.015211334.5
Bankruptcies91410-35.7-10.01138532.9
Proposals352-40.050.0392839.3
Professional, Scientific and Technical Services33302710.022.22982893.1
Bankruptcies222720-18.510.0213218-2.3
Proposals1137266.757.1857119.7
Management of Companies and Enterprises86733.314.368629.7
Bankruptcies5530.066.748480.0
Proposals314200.0-25.0201442.9
Administrative and Support, Waste Management and Remediation Services172619-34.6-10.51981961.0
Bankruptcies111914-42.1-21.4138147-6.1
Proposals675-14.320.0604922.4
Educational Services87114.3700.0502878.6
Bankruptcies7700.0--4422100.0
Proposals101--0.0660.0
Health Care and Social Assistance107542.9100.0805545.5
Bankruptcies86433.3100.0604533.3
Proposals211100.0100.02010100.0
Arts, Entertainment and Recreation137685.7116.788836.0
Bankruptcies106566.7100.0746710.4
Proposals311200.0200.01416-12.5
Accommodation and Food Services525674-7.1-29.7627634-1.1
Bankruptcies3736502.8-26.04604531.5
Proposals152024-25.0-37.5167181-7.7
Other Services (except Public Administration)192421-20.8-9.5250257-2.7
Bankruptcies152318-34.8-16.71981980.0
Proposals413300.033.35259-11.9
Public Administration010-100.0--10--
Bankruptcies010-100.0--10--
Proposals000----00--
Total371394390-5.8-4.94,2314,270-0.9
Bankruptcies274297287-7.7-4.53,1403,186-1.4
Proposals97971030.0-5.81,0911,0840.6