Insolvency Statistics in Canada—July 2017

Highlights

Read the report Insolvency Statistics in Canada—July 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 12.2% in July 2017 from the previous month. Bankruptcies decreased by 14.5% and proposals decreased by 10.0%.

The total number of insolvencies in July 2017 was 2.4% lower than the total number of insolvencies in July 2016. Consumer insolvencies decreased by 2.4%, while business insolvencies decreased by 2.3%.

For the 12-month period ending July 31, 2017, the total number of insolvencies decreased by 1.4% compared with the 12-month period ending July 31, 2016.

Consumer insolvencies for the 12-month period ending July 31, 2017, decreased by 1.2% compared with the 12-month period ending July 31, 2016. Consumer bankruptcies decreased by 5.7%, while consumer proposals increased by 3.4%. The proportion of proposals in consumer insolvencies increased to 51.2% during the 12-month period ending July 31, 2017, up from 48.9% during the 12-month period ending July 31, 2016. For the 12-month period ending July 31, 2017, consumer insolvency filings accounted for 97.1% of the total insolvency filings.

Business insolvencies for the 12-month period ending July 31, 2017, decreased by 7.6% compared with the 12-month period ending July 31, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade and accommodation and food services. Transportation and warehousing; and management of companies and enterprises experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in July 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—July 2017 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—July 2017.

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