Insolvency Statistics in Canada—March 2017

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Insolvency Statistics in Canada
March 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
March 2017 February 2017 March 2016 Feb. 2017
to
Mar. 2017		 Mar. 2016
to
Mar. 2017		 03-31-2017 03-31-2016 % Change
Newfoundland and Labrador 233 184 209 26.6 11.5 2,482 1,999 24.2
Bankruptcies 136 84 131 61.9 3.8 1,546 1,552 -0.4
Proposals 97 100 78 -3.0 24.4 936 447 109.4
Prince Edward Island 78 60 76 30.0 2.6 793 841 -5.7
Bankruptcies 45 29 46 55.2 -2.2 477 534 -10.7
Proposals 33 31 30 6.5 10.0 316 307 2.9
Nova Scotia 582 382 519 52.4 12.1 6,108 5,392 13.3
Bankruptcies 379 240 374 57.9 1.3 4,225 3,833 10.2
Proposals 203 142 145 43.0 40.0 1,883 1,559 20.8
New Brunswick 428 273 356 56.8 20.2 4,519 4,428 2.1
Bankruptcies 261 159 255 64.2 2.4 2,866 2,887 -0.7
Proposals 167 114 101 46.5 65.3 1,653 1,541 7.3
Quebec 4,180 3,766 4,136 11.0 1.1 44,917 45,617 -1.5
Bankruptcies 2,264 1,990 2,285 13.8 -0.9 25,572 26,198 -2.4
Proposals 1,916 1,776 1,851 7.9 3.5 19,345 19,419 -0.4
Ontario 3,792 3,143 3,866 20.6 -1.9 40,274 41,045 -1.9
Bankruptcies 1,601 1,222 1,710 31.0 -6.4 17,247 18,564 -7.1
Proposals 2,191 1,921 2,156 14.1 1.6 23,027 22,481 2.4
Manitoba 261 218 228 19.7 14.5 2,691 2,251 19.5
Bankruptcies 126 102 123 23.5 2.4 1,470 1,323 11.1
Proposals 135 116 105 16.4 28.6 1,221 928 31.6
Saskatchewan 272 250 271 8.8 0.4 3,156 2,476 27.5
Bankruptcies 118 97 144 21.6 -18.1 1,504 1,322 13.8
Proposals 154 153 127 0.7 21.3 1,652 1,154 43.2
Alberta 1,290 1,093 1,231 18.0 4.8 13,494 10,924 23.5
Bankruptcies 514 435 523 18.2 -1.7 5,487 4,767 15.1
Proposals 776 658 708 17.9 9.6 8,007 6,157 30.0
British Columbia 1,025 818 1,098 25.3 -6.6 10,686 11,801 -9.4
Bankruptcies 461 342 497 34.8 -7.2 4,664 5,660 -17.6
Proposals 564 476 601 18.5 -6.2 6,022 6,141 -1.9
Northwest Territories 3 2 6 50.0 -50.0 61 54 13.0
Bankruptcies 1 1 3 0.0 -66.7 33 29 13.8
Proposals 2 1 3 100.0 -33.3 28 25 12.0
Yukon 5 2 5 150.0 0.0 48 39 23.1
Bankruptcies 2 1 3 100.0 -33.3 23 18 27.8
Proposals 3 1 2 200.0 50.0 25 21 19.0
Nunavut 0 0 0 -- -- 5 9 -44.4
Bankruptcies 0 0 0 -- -- 2 4 -50.0
Proposals 0 0 0 -- -- 3 5 -40.0
Canada 12,149 10,191 12,001 19.2 1.2 129,234 126,876 1.9
Bankruptcies 5,908 4,702 6,094 25.6 -3.1 65,116 66,691 -2.4
Proposals 6,241 5,489 5,907 13.7 5.7 64,118 60,185 6.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March 2017 February 2017 March 2016 Feb. 2017
to
Mar. 2017		 Mar. 2016
to
Mar. 2017		 03-31-2017 03-31-2016 % Change
Newfoundland and Labrador 226 182 207 24.2 9.2 2,449 1,973 24.1
Bankruptcies 134 82 130 63.4 3.1 1,523 1,532 -0.6
Proposals 92 100 77 -8.0 19.5 926 441 110.0
Prince Edward Island 74 59 75 25.4 -1.3 775 828 -6.4
Bankruptcies 41 28 45 46.4 -8.9 465 523 -11.1
Proposals 33 31 30 6.5 10.0 310 305 1.6
Nova Scotia 577 381 515 51.4 12.0 6,037 5,305 13.8
Bankruptcies 374 239 370 56.5 1.1 4,166 3,760 10.8
Proposals 203 142 145 43.0 40.0 1,871 1,545 21.1
New Brunswick 423 272 348 55.5 21.6 4,469 4,354 2.6
Bankruptcies 256 158 249 62.0 2.8 2,825 2,828 -0.1
Proposals 167 114 99 46.5 68.7 1,644 1,526 7.7
Quebec 3,963 3,569 3,911 11.0 1.3 42,804 43,373 -1.3
Bankruptcies 2,099 1,857 2,106 13.0 -0.3 24,007 24,488 -2.0
Proposals 1,864 1,712 1,805 8.9 3.3 18,797 18,885 -0.5
Ontario 3,708 3,058 3,778 21.3 -1.9 39,335 39,990 -1.6
Bankruptcies 1,540 1,166 1,642 32.1 -6.2 16,567 17,751 -6.7
Proposals 2,168 1,892 2,136 14.6 1.5 22,768 22,239 2.4
Manitoba 255 215 226 18.6 12.8 2,636 2,210 19.3
Bankruptcies 120 99 122 21.2 -1.6 1,429 1,295 10.3
Proposals 135 116 104 16.4 29.8 1,207 915 31.9
Saskatchewan 259 240 253 7.9 2.4 3,045 2,342 30.0
Bankruptcies 113 90 130 25.6 -13.1 1,423 1,222 16.4
Proposals 146 150 123 -2.7 18.7 1,622 1,120 44.8
Alberta 1,277 1,081 1,216 18.1 5.0 13,328 10,783 23.6
Bankruptcies 504 426 515 18.3 -2.1 5,360 4,671 14.8
Proposals 773 655 701 18.0 10.3 7,968 6,112 30.4
British Columbia 1,010 800 1,085 26.3 -6.9 10,495 11,567 -9.3
Bankruptcies 448 326 486 37.4 -7.8 4,511 5,493 -17.9
Proposals 562 474 599 18.6 -6.2 5,984 6,074 -1.5
Northwest Territories 3 2 6 50.0 -50.0 61 54 13.0
Bankruptcies 1 1 3 0.0 -66.7 33 29 13.8
Proposals 2 1 3 100.0 -33.3 28 25 12.0
Yukon 5 2 5 150.0 0.0 48 39 23.1
Bankruptcies 2 1 3 100.0 -33.3 23 18 27.8
Proposals 3 1 2 200.0 50.0 25 21 19.0
Nunavut 0 0 0 -- -- 4 9 -55.6
Bankruptcies 0 0 0 -- -- 1 4 -75.0
Proposals 0 0 0 -- -- 3 5 -40.0
Canada 11,780 9,861 11,625 19.5 1.3 125,486 122,827 2.2
Bankruptcies 5,632 4,473 5,801 25.9 -2.9 62,333 63,614 -2.0
Proposals 6,148 5,388 5,824 14.1 5.6 63,153 59,213 6.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March 2017 February 2017 March 2016 Feb. 2017
to
Mar. 2017		 Mar. 2016
to
Mar. 2017		 03-31-2017 03-31-2016 % Change
Newfoundland and Labrador 7 2 2 250.0 250.0 33 26 26.9
Bankruptcies 2 2 1 0.0 100.0 23 20 15.0
Proposals 5 0 1 -- 400.0 10 6 66.7
Prince Edward Island 4 1 1 300.0 300.0 18 13 38.5
Bankruptcies 4 1 1 300.0 300.0 12 11 9.1
Proposals 0 0 0 -- -- 6 2 200.0
Nova Scotia 5 1 4 400.0 25.0 71 87 -18.4
Bankruptcies 5 1 4 400.0 25.0 59 73 -19.2
Proposals 0 0 0 -- -- 12 14 -14.3
New Brunswick 5 1 8 400.0 -37.5 50 74 -32.4
Bankruptcies 5 1 6 400.0 -16.7 41 59 -30.5
Proposals 0 0 2 -- -100.0 9 15 -40.0
Quebec 217 197 225 10.2 -3.6 2,113 2,244 -5.8
Bankruptcies 165 133 179 24.1 -7.8 1,565 1,710 -8.5
Proposals 52 64 46 -18.8 13.0 548 534 2.6
Ontario 84 85 88 -1.2 -4.5 939 1,055 -11.0
Bankruptcies 61 56 68 8.9 -10.3 680 813 -16.4
Proposals 23 29 20 -20.7 15.0 259 242 7.0
Manitoba 6 3 2 100.0 200.0 55 41 34.1
Bankruptcies 6 3 1 100.0 500.0 41 28 46.4
Proposals 0 0 1 -- -100.0 14 13 7.7
Saskatchewan 13 10 18 30.0 -27.8 111 134 -17.2
Bankruptcies 5 7 14 -28.6 -64.3 81 100 -19.0
Proposals 8 3 4 166.7 100.0 30 34 -11.8
Alberta 13 12 15 8.3 -13.3 166 141 17.7
Bankruptcies 10 9 8 11.1 25.0 127 96 32.3
Proposals 3 3 7 0.0 -57.1 39 45 -13.3
British Columbia 15 18 13 -16.7 15.4 191 234 -18.4
Bankruptcies 13 16 11 -18.8 18.2 153 167 -8.4
Proposals 2 2 2 0.0 0.0 38 67 -43.3
Northwest Territoires 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 369 330 376 11.8 -1.9 3,748 4,049 -7.4
Bankruptcies 276 229 293 20.5 -5.8 2,783 3,077 -9.6
Proposals 93 101 83 -7.9 12.0 965 972 -0.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
March 2017 February 2017 March 2016 Feb. 2017
to
Mar. 2017		 Mar. 2016
to
Mar. 2017		 03-31-2017 03-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 6 3 9 100.0 -33.3 78 85 -8.2
Bankruptcies 6 2 8 200.0 -25.0 52 55 -5.5
Proposals 0 1 1 -100.0 -100.0 26 30 -13.3
Mining and Oil and Gas Extraction 3 3 2 0.0 50.0 69 45 53.3
Bankruptcies 1 2 1 -50.0 0.0 46 34 35.3
Proposals 2 1 1 100.0 100.0 23 11 109.1
Utilities 1 0 0 -- -- 9 14 -35.7
Bankruptcies 1 0 0 -- -- 5 9 -44.4
Proposals 0 0 0 -- -- 4 5 -20.0
Construction 69 56 74 23.2 -6.8 695 765 -9.2
Bankruptcies 47 36 56 30.6 -16.1 493 575 -14.3
Proposals 22 20 18 10.0 22.2 202 190 6.3
Manufacturing 33 35 29 -5.7 13.8 297 373 -20.4
Bankruptcies 23 23 21 0.0 9.5 209 272 -23.2
Proposals 10 12 8 -16.7 25.0 88 101 -12.9
Wholesale Trade 16 15 19 6.7 -15.8 178 186 -4.3
Bankruptcies 8 9 17 -11.1 -52.9 137 142 -3.5
Proposals 8 6 2 33.3 300.0 41 44 -6.8
Retail Trade 38 52 45 -26.9 -15.6 426 500 -14.8
Bankruptcies 30 40 32 -25.0 -6.3 317 383 -17.2
Proposals 8 12 13 -33.3 -38.5 109 117 -6.8
Transportation and Warehousing 28 18 15 55.6 86.7 243 198 22.7
Bankruptcies 19 9 13 111.1 46.2 181 146 24.0
Proposals 9 9 2 0.0 350.0 62 52 19.2
Information and Cultural Industries 9 6 12 50.0 -25.0 66 81 -18.5
Bankruptcies 8 2 11 300.0 -27.3 48 65 -26.2
Proposals 1 4 1 -75.0 0.0 18 16 12.5
Finance and Insurance 10 4 9 150.0 11.1 62 71 -12.7
Bankruptcies 9 3 6 200.0 50.0 53 53 0.0
Proposals 1 1 3 0.0 -66.7 9 18 -50.0
Real Estate and Rental and Leasing 11 12 10 -8.3 10.0 152 139 9.4
Bankruptcies 8 7 8 14.3 0.0 98 109 -10.1
Proposals 3 5 2 -40.0 50.0 54 30 80.0
Professional, Scientific and Technical Services 23 21 32 9.5 -28.1 286 293 -2.4
Bankruptcies 21 16 27 31.3 -22.2 221 230 -3.9
Proposals 2 5 5 -60.0 -60.0 65 63 3.2
Management of Companies and Enterprises 4 9 5 -55.6 -20.0 75 63 19.0
Bankruptcies 4 7 5 -42.9 -20.0 52 47 10.6
Proposals 0 2 0 -100.0 -- 23 16 43.8
Administrative and Support, Waste Management and Remediation Services 14 18 14 -22.2 0.0 189 195 -3.1
Bankruptcies 8 16 8 -50.0 0.0 146 144 1.4
Proposals 6 2 6 200.0 0.0 43 51 -15.7
Educational Services 15 7 4 114.3 275.0 45 33 36.4
Bankruptcies 14 6 2 133.3 600.0 34 24 41.7
Proposals 1 1 2 0.0 -50.0 11 9 22.2
Health Care and Social Assistance 10 6 7 66.7 42.9 73 79 -7.6
Bankruptcies 9 4 6 125.0 50.0 57 54 5.6
Proposals 1 2 1 -50.0 0.0 16 25 -36.0
Arts, Entertainment and Recreation 8 5 8 60.0 0.0 74 70 5.7
Bankruptcies 6 3 8 100.0 -25.0 53 58 -8.6
Proposals 2 2 0 0.0 -- 21 12 75.0
Accommodation and Food Services 56 44 54 27.3 3.7 575 661 -13.0
Bankruptcies 41 34 42 20.6 -2.4 454 515 -11.8
Proposals 15 10 12 50.0 25.0 121 146 -17.1
Other Services (except Public Administration) 14 16 28 -12.5 -50.0 153 192 -20.3
Bankruptcies 12 10 22 20.0 -45.5 125 156 -19.9
Proposals 2 6 6 -66.7 -66.7 28 36 -22.2
Public Administration 1 0 0 -- -- 3 6 -50.0
Bankruptcies 1 0 0 -- -- 2 6 -66.7
Proposals 0 0 0 -- -- 1 0 --
Total 369 330 376 11.8 -1.9 3,748 4,049 -7.4
Bankruptcies 276 229 293 20.5 -5.8 2,783 3,077 -9.6
Proposals 93 101 83 -7.9 12.0 965 972 -0.7
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