Insolvency Statistics in Canada—March 2016

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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
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-201603-31-2015% Change
Newfoundland and Labrador20918814311.246.21,9991,58626.0
Bankruptcies1311261194.010.11,5521,36214.0
Proposals78622425.8225.044722499.6
Prince Edward Island7672785.6-2.684174712.6
Bankruptcies464746-2.10.05345192.9
Proposals30253220.0-6.330722834.6
Nova Scotia51943346119.912.65,3925,3930.0
Bankruptcies37430430623.022.23,8333,8230.3
Proposals14512915512.4-6.51,5591,570-0.7
New Brunswick3563393825.0-6.84,4284,3910.8
Bankruptcies25521225820.3-1.22,8873,055-5.5
Proposals101127124-20.5-18.51,5411,33615.3
Quebec4,1363,9654,3094.3-4.045,61744,8061.8
Bankruptcies2,2852,2282,3792.6-4.026,19826,0950.4
Proposals1,8511,7371,9306.6-4.119,41918,7113.8
Ontario3,8663,4624,06111.7-4.841,04541,881-2.0
Bankruptcies1,7101,4371,81419.0-5.718,56419,780-6.1
Proposals2,1562,0252,2476.5-4.022,48122,1011.7
Manitoba22820019414.017.52,2512,03910.4
Bankruptcies12310211820.64.21,3231,2833.1
Proposals10598767.138.292875622.8
Saskatchewan27121421226.627.82,4762,06719.8
Bankruptcies14410211141.229.71,3221,13017.0
Proposals12711210113.425.71,15493723.2
Alberta1,2311,09985812.043.510,9248,59427.1
Bankruptcies5234913946.532.74,7673,95420.6
Proposals70860846416.452.66,1574,64032.7
British Columbia1,0981,0491,0794.71.811,80111,7910.1
Bankruptcies4974694906.01.45,6606,436-12.1
Proposals6015805893.62.06,1415,35514.7
Northwest Territories635100.020.0544325.6
Bankruptcies313200.00.0292326.1
Proposals32250.050.0252025.0
Yukon5540.025.03942-7.1
Bankruptcies3320.050.01822-18.2
Proposals2220.00.021205.0
Nunavut030-100.0--9580.0
Bankruptcies000----4333.3
Proposals030-100.0--52150.0
Canada12,00111,03211,7868.81.8126,876123,3852.8
Bankruptcies6,0945,5226,04010.40.966,69167,485-1.2
Proposals5,9075,5105,7467.22.860,18555,9007.7
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-201603-31-2015% Change
Newfoundland and Labrador20718614111.346.81,9731,55926.6
Bankruptcies1301251184.010.21,5321,33814.5
Proposals77612326.2234.844122199.5
Prince Edward Island7572764.2-1.382872813.7
Bankruptcies454745-4.30.05235053.6
Proposals30253120.0-3.230522336.8
Nova Scotia51543045619.812.95,3055,314-0.2
Bankruptcies37030130422.921.73,7603,770-0.3
Proposals14512915212.4-4.61,5451,5440.1
New Brunswick3483333734.5-6.74,3544,3071.1
Bankruptcies24920725220.3-1.22,8282,995-5.6
Proposals99126121-21.4-18.21,5261,31216.3
Quebec3,9113,7284,0694.9-3.943,37342,4122.3
Bankruptcies2,1062,0462,1872.9-3.724,48824,3680.5
Proposals1,8051,6821,8827.3-4.118,88518,0444.7
Ontario3,7783,3783,94811.8-4.339,99040,754-1.9
Bankruptcies1,6421,3791,72619.1-4.917,75118,899-6.1
Proposals2,1361,9992,2226.9-3.922,23921,8551.8
Manitoba22619919013.618.92,2101,99210.9
Bankruptcies12210211519.66.11,2951,2473.8
Proposals10497757.238.791574522.8
Saskatchewan25320720722.222.22,3421,96819.0
Bankruptcies1309710834.020.41,2221,07014.2
Proposals1231109911.824.21,12089824.7
Alberta1,2161,08684712.043.610,7838,45727.5
Bankruptcies5154833876.633.14,6713,85321.2
Proposals70160346016.352.46,1124,60432.8
British Columbia1,0851,0271,0655.61.911,56711,5590.1
Bankruptcies4864584846.10.45,4936,257-12.2
Proposals5995695815.33.16,0745,30214.6
Northwest Territories635100.020.0544325.6
Bankruptcies313200.00.0292326.1
Proposals32250.050.0252025.0
Yukon5540.025.03941-4.9
Bankruptcies3320.050.01822-18.2
Proposals2220.00.0211910.5
Nunavut030-100.0--94125.0
Bankruptcies000----42100.0
Proposals030-100.0--52150.0
Canada11,62510,65711,3819.12.1122,827119,1383.1
Bankruptcies5,8015,2495,73110.51.263,61464,349-1.1
Proposals5,8245,4085,6507.73.159,21354,7898.1
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-201603-31-2015% Change
Newfoundland and Labrador2220.00.02627-3.7
Bankruptcies1110.00.02024-16.7
Proposals1110.00.063100.0
Prince Edward Island102---50.01319-31.6
Bankruptcies101--0.01114-21.4
Proposals001---100.025-60.0
Nova Scotia43533.3-20.0877910.1
Bankruptcies43233.3100.0735337.7
Proposals003---100.01426-46.2
New Brunswick86933.3-11.17484-11.9
Bankruptcies65620.00.05960-1.7
Proposals213100.0-33.31524-37.5
Quebec225237240-5.1-6.32,2442,394-6.3
Bankruptcies179182192-1.6-6.81,7101,727-1.0
Proposals465548-16.4-4.2534667-19.9
Ontario88841134.8-22.11,0551,127-6.4
Bankruptcies68588817.2-22.7813881-7.7
Proposals202625-23.1-20.0242246-1.6
Manitoba214100.0-50.04147-12.8
Bankruptcies103---66.72836-22.2
Proposals1110.00.0131118.2
Saskatchewan1875157.1260.01349935.4
Bankruptcies1453180.0366.71006066.7
Proposals422100.0100.03439-12.8
Alberta15131115.436.41411372.9
Bankruptcies8870.014.396101-5.0
Proposals75440.075.0453625.0
British Columbia132214-40.9-7.12342320.9
Bankruptcies111160.083.3167179-6.7
Proposals2118-81.8-75.0675326.4
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----01-100.0
Bankruptcies000----00--
Proposals000----01-100.0
Nunavut000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Canada3763754050.3-7.24,0494,247-4.7
Bankruptcies2932733097.3-5.23,0773,136-1.9
Proposals8310296-18.6-13.59721,111-12.5
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
March
2016
February
2016
March
2015
Feb. 2016
to
March 2016
March 2015
to
March 2016
03-31-201603-31-2015% Change
Agriculture, Forestry, Fishing and Hunting91210-25.0-10.08588-3.4
Bankruptcies8112-27.3300.0555010.0
Proposals1180.0-87.53038-21.1
Mining and Oil and Gas Extraction252-60.00.0453528.6
Bankruptcies132-66.7-50.03416112.5
Proposals120-50.0--1119-42.1
Utilities020-100.0--141040.0
Bankruptcies000----9650.0
Proposals020-100.0--5425.0
Construction74607323.31.47657265.4
Bankruptcies56485816.7-3.45755328.1
Proposals18121550.020.0190194-2.1
Manufacturing293136-6.5-19.4373384-2.9
Bankruptcies212425-12.5-16.02722710.4
Proposals871114.3-27.3101113-10.6
Wholesale Trade19142335.7-17.4186236-21.2
Bankruptcies17720142.9-15.0142166-14.5
Proposals273-71.4-33.34470-37.1
Retail Trade455952-23.7-13.5500512-2.3
Bankruptcies324036-20.0-11.13833752.1
Proposals131916-31.6-18.8117137-14.6
Transportation and Warehousing151728-11.8-46.4198270-26.7
Bankruptcies1313240.0-45.8146186-21.5
Proposals244-50.0-50.05284-38.1
Information and Cultural Industries1210520.0140.0817212.5
Bankruptcies119422.2175.0655225.0
Proposals1110.00.01620-20.0
Finance and Insurance944125.0125.07179-10.1
Bankruptcies634100.050.05364-17.2
Proposals310200.0--181520.0
Real Estate and Rental and Leasing101317-23.1-41.21391371.5
Bankruptcies861633.3-50.01091053.8
Proposals271-71.4100.03032-6.3
Professional, Scientific and Technical Services32191868.477.8293299-2.0
Bankruptcies271314107.792.9230239-3.8
Proposals564-16.725.063605.0
Management of Companies and Enterprises567-16.7-28.663630.0
Bankruptcies567-16.7-28.64749-4.1
Proposals000----161414.3
Administrative and Support, Waste Management and Remediation Services141822-22.2-36.4195230-15.2
Bankruptcies81217-33.3-52.9144167-13.8
Proposals6650.020.05163-19.0
Educational Services454-20.00.03352-36.5
Bankruptcies243-50.0-33.32444-45.5
Proposals211100.0100.09812.5
Health Care and Social Assistance74775.00.07992-14.1
Bankruptcies617500.0-14.35471-23.9
Proposals130-66.7--252119.0
Arts, Entertainment and Recreation8913-11.1-38.57084-16.7
Bankruptcies897-11.114.35863-7.9
Proposals006---100.01221-42.9
Accommodation and Food Services546962-21.7-12.9661665-0.6
Bankruptcies424745-10.6-6.75155081.4
Proposals122217-45.5-29.4146157-7.0
Other Services (except Public Administration)28172264.727.3192212-9.4
Bankruptcies22161837.522.2156171-8.8
Proposals614500.050.03641-12.2
Public Administration010-100.0--61500.0
Bankruptcies010-100.0--61500.0
Proposals000----00--
Total3763754050.3-7.24,0494,247-4.7
Bankruptcies2932733097.3-5.23,0773,136-1.9
Proposals8310296-18.6-13.59721,111-12.5