Insolvency Statistics in Canada—January 2017

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Insolvency Statistics in Canada
January 2017

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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 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
Province Volume % Change 12-Month Period Ending
Jan. 2017 Dec. 2016 Jan. 2016 Dec. 2016
to
Jan. 2017		 Jan. 2016
to
Jan. 2017		 01-31-2017 01-31-2016 % Change
Newfoundland and Labrador 186 168 151 10.7 23.2 2,462 1,892 30.1
Bankruptcies 119 96 110 24.0 8.2 1,583 1,537 3.0
Proposals 67 72 41 -6.9 63.4 879 355 147.6
Prince Edward Island 42 44 54 -4.5 -22.2 803 833 -3.6
Bankruptcies 20 28 31 -28.6 -35.5 496 529 -6.2
Proposals 22 16 23 37.5 -4.3 307 304 1.0
Nova Scotia 415 407 342 2.0 21.3 6,096 5,299 15.0
Bankruptcies 280 271 250 3.3 12.0 4,284 3,716 15.3
Proposals 135 136 92 -0.7 46.7 1,812 1,583 14.5
New Brunswick 290 344 278 -15.7 4.3 4,513 4,428 1.9
Bankruptcies 142 229 178 -38.0 -20.2 2,913 2,884 1.0
Proposals 148 115 100 28.7 48.0 1,600 1,544 3.6
Quebec 3,191 3,158 3,325 1.0 -4.0 45,072 45,709 -1.4
Bankruptcies 1,762 1,863 1,832 -5.4 -3.8 25,831 26,134 -1.2
Proposals 1,429 1,295 1,493 10.3 -4.3 19,241 19,575 -1.7
Ontario 2,933 2,802 2,817 4.7 4.1 40,667 41,005 -0.8
Bankruptcies 1,105 1,210 1,129 -8.7 -2.1 17,571 18,698 -6.0
Proposals 1,828 1,592 1,688 14.8 8.3 23,096 22,307 3.5
Manitoba 170 190 189 -10.5 -10.1 2,640 2,178 21.2
Bankruptcies 86 97 101 -11.3 -14.9 1,467 1,301 12.8
Proposals 84 93 88 -9.7 -4.5 1,173 877 33.8
Saskatchewan 242 262 200 -7.6 21.0 3,119 2,374 31.4
Bankruptcies 123 130 100 -5.4 23.0 1,535 1,269 21.0
Proposals 119 132 100 -9.8 19.0 1,584 1,105 43.3
Alberta 1,007 991 904 1.6 11.4 13,441 10,196 31.8
Bankruptcies 399 411 395 -2.9 1.0 5,552 4,483 23.8
Proposals 608 580 509 4.8 19.4 7,889 5,713 38.1
British Columbia 790 732 805 7.9 -1.9 10,990 11,697 -6.0
Bankruptcies 351 344 392 2.0 -10.5 4,827 5,708 -15.4
Proposals 439 388 413 13.1 6.3 6,163 5,989 2.9
Northwest Territories 6 7 1 -14.3 500.0 65 52 25.0
Bankruptcies 1 5 1 -80.0 0.0 35 29 20.7
Proposals 5 2 0 150.0 -- 30 23 30.4
Yukon 1 3 5 -66.7 -80.0 51 37 37.8
Bankruptcies 0 1 1 -100.0 -100.0 26 18 44.4
Proposals 1 2 4 -50.0 -75.0 25 19 31.6
Nunavut 0 0 2 -- -100.0 8 6 33.3
Bankruptcies 0 0 2 -- -100.0 2 4 -50.0
Proposals 0 0 0 -- -- 6 2 200.0
Canada 9,273 9,108 9,073 1.8 2.2 129,927 125,706 3.4
Bankruptcies 4,388 4,685 4,522 -6.3 -3.0 66,122 66,310 -0.3
Proposals 4,885 4,423 4,551 10.4 7.3 63,805 59,396 7.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Jan. 2017 Dec. 2016 Jan. 2016 Dec. 2016
to
Jan. 2017		 Jan. 2016
to
Jan. 2017		 01-31-2017 01-31-2016 % Change
Newfoundland and Labrador 185 166 150 11.4 23.3 2,434 1,865 30.5
Bankruptcies 119 94 109 26.6 9.2 1,562 1,516 3.0
Proposals 66 72 41 -8.3 61.0 872 349 149.9
Prince Edward Island 41 43 54 -4.7 -24.1 789 818 -3.5
Bankruptcies 19 28 31 -32.1 -38.7 488 517 -5.6
Proposals 22 15 23 46.7 -4.3 301 301 0.0
Nova Scotia 412 401 336 2.7 22.6 6,024 5,208 15.7
Bankruptcies 277 267 244 3.7 13.5 4,224 3,646 15.9
Proposals 135 134 92 0.7 46.7 1,800 1,562 15.2
New Brunswick 288 340 275 -15.3 4.7 4,455 4,352 2.4
Bankruptcies 140 226 177 -38.1 -20.9 2,867 2,827 1.4
Proposals 148 114 98 29.8 51.0 1,588 1,525 4.1
Quebec 3,060 2,996 3,158 2.1 -3.1 42,911 43,490 -1.3
Bankruptcies 1,663 1,729 1,701 -3.8 -2.2 24,203 24,449 -1.0
Proposals 1,397 1,267 1,457 10.3 -4.1 18,708 19,041 -1.7
Ontario 2,878 2,732 2,764 5.3 4.1 39,725 39,892 -0.4
Bankruptcies 1,065 1,153 1,087 -7.6 -2.0 16,882 17,836 -5.3
Proposals 1,813 1,579 1,677 14.8 8.1 22,843 22,056 3.6
Manitoba 167 181 183 -7.7 -8.7 2,591 2,135 21.4
Bankruptcies 83 93 97 -10.8 -14.4 1,434 1,271 12.8
Proposals 84 88 86 -4.5 -2.3 1,157 864 33.9
Saskatchewan 235 251 189 -6.4 24.3 3,006 2,252 33.5
Bankruptcies 117 121 91 -3.3 28.6 1,447 1,181 22.5
Proposals 118 130 98 -9.2 20.4 1,559 1,071 45.6
Alberta 997 978 895 1.9 11.4 13,272 10,065 31.9
Bankruptcies 391 401 390 -2.5 0.3 5,428 4,392 23.6
Proposals 606 577 505 5.0 20.0 7,844 5,673 38.3
British Columbia 773 707 782 9.3 -1.2 10,797 11,468 -5.9
Bankruptcies 336 324 374 3.7 -10.2 4,681 5,547 -15.6
Proposals 437 383 408 14.1 7.1 6,116 5,921 3.3
Northwest Territories 6 7 1 -14.3 500.0 65 52 25.0
Bankruptcies 1 5 1 -80.0 0.0 35 29 20.7
Proposals 5 2 0 150.0 -- 30 23 30.4
Yukon 1 3 5 -66.7 -80.0 51 37 37.8
Bankruptcies 0 1 1 -100.0 -100.0 26 18 44.4
Proposals 1 2 4 -50.0 -75.0 25 19 31.6
Nunavut 0 0 2 -- -100.0 7 6 16.7
Bankruptcies 0 0 2 -- -100.0 1 4 -75.0
Proposals 0 0 0 -- -- 6 2 200.0
Canada 9,043 8,805 8,794 2.7 2.8 126,127 121,640 3.7
Bankruptcies 4,211 4,442 4,305 -5.2 -2.2 63,278 63,233 0.1
Proposals 4,832 4,363 4,489 10.7 7.6 62,849 58,407 7.6
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Jan. 2017 Dec. 2016 Jan. 2016 Dec. 2016
to
Jan. 2017		 Jan. 2016
to
Jan. 2017		 01-31-2017 01-31-2016 % Change
Newfoundland and Labrador 1 2 1 -50.0 0.0 28 27 3.7
Bankruptcies 0 2 1 -100.0 -100.0 21 21 0.0
Proposals 1 0 0 -- -- 7 6 16.7
Prince Edward Island 1 1 0 0.0 -- 14 15 -6.7
Bankruptcies 1 0 0 -- -- 8 12 -33.3
Proposals 0 1 0 -100.0 -- 6 3 100.0
Nova Scotia 3 6 6 -50.0 -50.0 72 91 -20.9
Bankruptcies 3 4 6 -25.0 -50.0 60 70 -14.3
Proposals 0 2 0 -100.0 -- 12 21 -42.9
New Brunswick 2 4 3 -50.0 -33.3 58 76 -23.7
Bankruptcies 2 3 1 -33.3 100.0 46 57 -19.3
Proposals 0 1 2 -100.0 -100.0 12 19 -36.8
Quebec 131 162 167 -19.1 -21.6 2,161 2,219 -2.6
Bankruptcies 99 134 131 -26.1 -24.4 1,628 1,685 -3.4
Proposals 32 28 36 14.3 -11.1 533 534 -0.2
Ontario 55 70 53 -21.4 3.8 942 1,113 -15.4
Bankruptcies 40 57 42 -29.8 -4.8 689 862 -20.1
Proposals 15 13 11 15.4 36.4 253 251 0.8
Manitoba 3 9 6 -66.7 -50.0 49 43 14.0
Bankruptcies 3 4 4 -25.0 -25.0 33 30 10.0
Proposals 0 5 2 -100.0 -100.0 16 13 23.1
Saskatchewan 7 11 11 -36.4 -36.4 113 122 -7.4
Bankruptcies 6 9 9 -33.3 -33.3 88 88 0.0
Proposals 1 2 2 -50.0 -50.0 25 34 -26.5
Alberta 10 13 9 -23.1 11.1 169 131 29.0
Bankruptcies 8 10 5 -20.0 60.0 124 91 36.3
Proposals 2 3 4 -33.3 -50.0 45 40 12.5
British Columbia 17 25 23 -32.0 -26.1 193 229 -15.7
Bankruptcies 15 20 18 -25.0 -16.7 146 161 -9.3
Proposals 2 5 5 -60.0 -60.0 47 68 -30.9
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 230 303 279 -24.1 -17.6 3,800 4,066 -6.5
Bankruptcies 177 243 217 -27.2 -18.4 2,844 3,077 -7.6
Proposals 53 60 62 -11.7 -14.5 956 989 -3.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
Jan. 2017 Dec. 2016 Jan. 2016 Dec. 2016
to
Jan. 2017		 Jan. 2016
to
Jan. 2017		 01-31-2017 01-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 7 12 5 -41.7 40.0 90 82 9.8
Bankruptcies 4 9 3 -55.6 33.3 63 39 61.5
Proposals 3 3 2 0.0 50.0 27 43 -37.2
Mining and Oil and Gas Extraction 1 15 3 -93.3 -66.7 70 44 59.1
Bankruptcies 0 13 3 -100.0 -100.0 47 33 42.4
Proposals 1 2 0 -50.0 -- 23 11 109.1
Utilities 1 3 0 -66.7 -- 10 13 -23.1
Bankruptcies 1 1 0 0.0 -- 4 10 -60.0
Proposals 0 2 0 -100.0 -- 6 3 100.0
Construction 44 58 51 -24.1 -13.7 704 774 -9.0
Bankruptcies 34 45 40 -24.4 -15.0 514 574 -10.5
Proposals 10 13 11 -23.1 -9.1 190 200 -5.0
Manufacturing 19 18 29 5.6 -34.5 289 393 -26.5
Bankruptcies 14 13 22 7.7 -36.4 208 280 -25.7
Proposals 5 5 7 0.0 -28.6 81 113 -28.3
Wholesale Trade 10 13 9 -23.1 11.1 180 193 -6.7
Bankruptcies 9 11 7 -18.2 28.6 144 148 -2.7
Proposals 1 2 2 -50.0 -50.0 36 45 -20.0
Retail Trade 27 32 41 -15.6 -34.1 440 498 -11.6
Bankruptcies 18 28 30 -35.7 -40.0 319 386 -17.4
Proposals 9 4 11 125.0 -18.2 121 112 8.0
Transportation and Warehousing 16 25 12 -36.0 33.3 229 210 9.0
Bankruptcies 13 22 11 -40.9 18.2 179 155 15.5
Proposals 3 3 1 0.0 200.0 50 55 -9.1
Information and Cultural Industries 6 11 4 -45.5 50.0 73 74 -1.4
Bankruptcies 5 6 3 -16.7 66.7 58 57 1.8
Proposals 1 5 1 -80.0 0.0 15 17 -11.8
Finance and Insurance 3 3 6 0.0 -50.0 61 68 -10.3
Bankruptcies 3 3 5 0.0 -40.0 50 53 -5.7
Proposals 0 0 1 -- -100.0 11 15 -26.7
Real Estate and Rental and Leasing 7 8 9 -12.5 -22.2 152 143 6.3
Bankruptcies 4 6 8 -33.3 -50.0 97 116 -16.4
Proposals 3 2 1 50.0 200.0 55 27 103.7
Professional, Scientific and Technical Services 16 25 19 -36.0 -15.8 293 280 4.6
Bankruptcies 13 23 17 -43.5 -23.5 224 221 1.4
Proposals 3 2 2 50.0 50.0 69 59 16.9
Management of Companies and Enterprises 4 8 8 -50.0 -50.0 73 61 19.7
Bankruptcies 4 8 7 -50.0 -42.9 52 44 18.2
Proposals 0 0 1 -- -100.0 21 17 23.5
Administrative and Support, Waste Management and Remediation Services 13 22 15 -40.9 -13.3 189 194 -2.6
Bankruptcies 10 16 11 -37.5 -9.1 142 149 -4.7
Proposals 3 6 4 -50.0 -25.0 47 45 4.4
Educational Services 0 1 0 -100.0 -- 32 34 -5.9
Bankruptcies 0 1 0 -100.0 -- 20 27 -25.9
Proposals 0 0 0 -- -- 12 7 71.4
Health Care and Social Assistance 4 4 7 0.0 -42.9 68 78 -12.8
Bankruptcies 3 4 4 -25.0 -25.0 51 56 -8.9
Proposals 1 0 3 -- -66.7 17 22 -22.7
Arts, Entertainment and Recreation 4 5 6 -20.0 -33.3 78 74 5.4
Bankruptcies 3 4 6 -25.0 -50.0 61 55 10.9
Proposals 1 1 0 0.0 -- 17 19 -10.5
Accommodation and Food Services 37 31 49 19.4 -24.5 598 656 -8.8
Bankruptcies 31 24 36 29.2 -13.9 468 519 -9.8
Proposals 6 7 13 -14.3 -53.8 130 137 -5.1
Other Services (except Public Administration) 11 9 5 22.2 120.0 168 192 -12.5
Bankruptcies 8 6 3 33.3 166.7 141 150 -6.0
Proposals 3 3 2 0.0 50.0 27 42 -35.7
Public Administration 0 0 1 -- -100.0 3 5 -40.0
Bankruptcies 0 0 1 -- -100.0 2 5 -60.0
Proposals 0 0 0 -- -- 1 0 --
Total 230 303 279 -24.1 -17.6 3,800 4,066 -6.5
Bankruptcies 177 243 217 -27.2 -18.4 2,844 3,077 -7.6
Proposals 53 60 62 -11.7 -14.5 956 989 -3.3
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