Insolvency Statistics in Canada—August 2017

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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

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.
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.
Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
NAICS:
North American Industry Classification System.
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.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
August 2017 July 2017 August 2016 July 2017
to
Aug. 2017
Aug. 2016
to
Aug. 2017
08-31-2017 08-31-2016 % Change
Newfoundland and Labrador 197 174 213 13.2 -7.5 2,414 2,270 6.3
Bankruptcies 104 92 134 13.0 -22.4 1,400 1,583 -11.6
Proposals 93 82 79 13.4 17.7 1,014 687 47.6
Prince Edward Island 61 52 68 17.3 -10.3 733 814 -10.0
Bankruptcies 36 29 50 24.1 -28.0 446 510 -12.5
Proposals 25 23 18 8.7 38.9 287 304 -5.6
Nova Scotia 494 508 533 -2.8 -7.3 5,965 5,843 2.1
Bankruptcies 312 344 363 -9.3 -14.0 4,054 4,144 -2.2
Proposals 182 164 170 11.0 7.1 1,911 1,699 12.5
New Brunswick 440 337 410 30.6 7.3 4,514 4,397 2.7
Bankruptcies 244 197 255 23.9 -4.3 2,712 2,906 -6.7
Proposals 196 140 155 40.0 26.5 1,802 1,491 20.9
Quebec 3,478 3,205 3,546 8.5 -1.9 43,968 45,586 -3.5
Bankruptcies 1,964 1,809 2,044 8.6 -3.9 24,807 26,134 -5.1
Proposals 1,514 1,396 1,502 8.5 0.8 19,161 19,452 -1.5
Ontario 3,240 2,974 3,277 8.9 -1.1 39,368 41,074 -4.2
Bankruptcies 1,267 1,183 1,378 7.1 -8.1 16,433 18,104 -9.2
Proposals 1,973 1,791 1,899 10.2 3.9 22,935 22,970 -0.2
Manitoba 192 228 208 -15.8 -7.7 2,622 2,480 5.7
Bankruptcies 103 122 127 -15.6 -18.9 1,380 1,400 -1.4
Proposals 89 106 81 -16.0 9.9 1,242 1,080 15.0
Saskatchewan 282 245 282 15.1 0.0 3,191 2,843 12.2
Bankruptcies 127 97 138 30.9 -8.0 1,471 1,475 -0.3
Proposals 155 148 144 4.7 7.6 1,720 1,368 25.7
Alberta 1,201 1,011 1,099 18.8 9.3 13,437 12,523 7.3
Bankruptcies 468 333 449 40.5 4.2 5,310 5,260 1.0
Proposals 733 678 650 8.1 12.8 8,127 7,263 11.9
British Columbia 840 784 829 7.1 1.3 10,257 11,492 -10.7
Bankruptcies 314 318 352 -1.3 -10.8 4,391 5,273 -16.7
Proposals 526 466 477 12.9 10.3 5,866 6,219 -5.7
Northwest Territories 5 3 8 66.7 -37.5 60 62 -3.2
Bankruptcies 4 3 2 33.3 100.0 37 34 8.8
Proposals 1 0 6 n/a -83.3 23 28 -17.9
Yukon 2 4 6 -50.0 -66.7 35 51 -31.4
Bankruptcies 2 1 1 100.0 100.0 19 26 -26.9
Proposals 0 3 5 -100.0 -100.0 16 25 -36.0
Nunavut 0 0 0 n/a n/a 3 10 -70.0
Bankruptcies 0 0 0 n/a n/a 1 4 -75.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 10,432 9,525 10,479 9.5 -0.4 126,567 129,445 -2.2
Bankruptcies 4,945 4,528 5,293 9.2 -6.6 62,461 66,853 -6.6
Proposals 5,487 4,997 5,186 9.8 5.8 64,106 62,592 2.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
August 2017 July 2017 August 2016 July 2017
to
Aug. 2017
Aug. 2016
to
Aug. 2017
08-31-2017 08-31-2016 % Change
Newfoundland and Labrador 197 169 211 16.6 -6.6 2,377 2,243 6.0
Bankruptcies 104 88 132 18.2 -21.2 1,373 1,563 -12.2
Proposals 93 81 79 14.8 17.7 1,004 680 47.6
Prince Edward Island 60 52 68 15.4 -11.8 719 800 -10.1
Bankruptcies 35 29 50 20.7 -30.0 435 501 -13.2
Proposals 25 23 18 8.7 38.9 284 299 -5.0
Nova Scotia 487 501 525 -2.8 -7.2 5,908 5,760 2.6
Bankruptcies 307 338 356 -9.2 -13.8 4,006 4,072 -1.6
Proposals 180 163 169 10.4 6.5 1,902 1,688 12.7
New Brunswick 438 333 407 31.5 7.6 4,460 4,324 3.1
Bankruptcies 242 193 252 25.4 -4.0 2,665 2,849 -6.5
Proposals 196 140 155 40.0 26.5 1,795 1,475 21.7
Quebec 3,328 3,074 3,373 8.3 -1.3 41,904 43,319 -3.3
Bankruptcies 1,852 1,710 1,916 8.3 -3.3 23,246 24,412 -4.8
Proposals 1,476 1,364 1,457 8.2 1.3 18,658 18,907 -1.3
Ontario 3,164 2,893 3,210 9.4 -1.4 38,470 40,091 -4.0
Bankruptcies 1,212 1,120 1,329 8.2 -8.8 15,768 17,366 -9.2
Proposals 1,952 1,773 1,881 10.1 3.8 22,702 22,725 -0.1
Manitoba 186 228 205 -18.4 -9.3 2,576 2,432 5.9
Bankruptcies 99 122 124 -18.9 -20.2 1,345 1,365 -1.5
Proposals 87 106 81 -17.9 7.4 1,231 1,067 15.4
Saskatchewan 270 239 273 13.0 -1.1 3,068 2,709 13.3
Bankruptcies 118 92 129 28.3 -8.5 1,380 1,375 0.4
Proposals 152 147 144 3.4 5.6 1,688 1,334 26.5
Alberta 1,168 1,004 1,086 16.3 7.6 13,228 12,388 6.8
Bankruptcies 450 328 439 37.2 2.5 5,165 5,161 0.1
Proposals 718 676 647 6.2 11.0 8,063 7,227 11.6
British Columbia 836 772 812 8.3 3.0 10,096 11,252 -10.3
Bankruptcies 312 307 342 1.6 -8.8 4,259 5,102 -16.5
Proposals 524 465 470 12.7 11.5 5,837 6,150 -5.1
Northwest Territories 5 3 8 66.7 -37.5 59 62 -4.8
Bankruptcies 4 3 2 33.3 100.0 36 34 5.9
Proposals 1 0 6 n/a -83.3 23 28 -17.9
Yukon 2 4 6 -50.0 -66.7 35 51 -31.4
Bankruptcies 2 1 1 100.0 100.0 19 26 -26.9
Proposals 0 3 5 -100.0 -100.0 16 25 -36.0
Nunavut 0 0 0 n/a n/a 3 9 -66.7
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 0 0 n/a n/a 2 6 -66.7
Canada 10,141 9,272 10,184 9.4 -0.4 122,903 125,440 -2.0
Bankruptcies 4,737 4,331 5,072 9.4 -6.6 59,698 63,829 -6.5
Proposals 5,404 4,941 5,112 9.4 5.7 63,205 61,611 2.6
Unselect
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
August 2017 July 2017 August 2016 July 2017
to
Aug. 2017
Aug. 2016
to
Aug. 2017
08-31-2017 08-31-2016 % Change
Newfoundland and Labrador 0 5 2 -100.0 -100.0 37 27 37.0
Bankruptcies 0 4 2 -100.0 -100.0 27 20 35.0
Proposals 0 1 0 -100.0 n/a 10 7 42.9
Prince Edward Island 1 0 0 n/a n/a 14 14 0.0
Bankruptcies 1 0 0 n/a n/a 11 9 22.2
Proposals 0 0 0 n/a n/a 3 5 -40.0
Nova Scotia 7 7 8 0.0 -12.5 57 83 -31.3
Bankruptcies 5 6 7 -16.7 -28.6 48 72 -33.3
Proposals 2 1 1 100.0 100.0 9 11 -18.2
New Brunswick 2 4 3 -50.0 -33.3 54 73 -26.0
Bankruptcies 2 4 3 -50.0 -33.3 47 57 -17.5
Proposals 0 0 0 n/a n/a 7 16 -56.3
Quebec 150 131 173 14.5 -13.3 2,064 2,267 -9.0
Bankruptcies 112 99 128 13.1 -12.5 1,561 1,722 -9.3
Proposals 38 32 45 18.8 -15.6 503 545 -7.7
Ontario 76 81 67 -6.2 13.4 898 983 -8.6
Bankruptcies 55 63 49 -12.7 12.2 665 738 -9.9
Proposals 21 18 18 16.7 16.7 233 245 -4.9
Manitoba 6 0 3 n/a 100.0 46 48 -4.2
Bankruptcies 4 0 3 n/a 33.3 35 35 0.0
Proposals 2 0 0 n/a n/a 11 13 -15.4
Saskatchewan 12 6 9 100.0 33.3 123 134 -8.2
Bankruptcies 9 5 9 80.0 0.0 91 100 -9.0
Proposals 3 1 0 200.0 n/a 32 34 -5.9
Alberta 33 7 13 371.4 153.8 209 135 54.8
Bankruptcies 18 5 10 260.0 80.0 145 99 46.5
Proposals 15 2 3 650.0 400.0 64 36 77.8
British Columbia 4 12 17 -66.7 -76.5 161 240 -32.9
Bankruptcies 2 11 10 -81.8 -80.0 132 171 -22.8
Proposals 2 1 7 100.0 -71.4 29 69 -58.0
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 291 253 295 15.0 -1.4 3,664 4,005 -8.5
Bankruptcies 208 197 221 5.6 -5.9 2,763 3,024 -8.6
Proposals 83 56 74 48.2 12.2 901 981 -8.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
August 2017 July 2017 August 2016 July 2017
to
Aug. 2017
Aug. 2016
to
Aug. 2017
08-31-2017 08-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 8 2 2 300.0 300.0 85 76 11.8
Bankruptcies 7 2 1 250.0 600.0 64 53 20.8
Proposals 1 0 1 n/a 0.0 21 23 -8.7
Mining and Oil and Gas Extraction 5 4 7 25.0 -28.6 65 56 16.1
Bankruptcies 3 1 1 200.0 200.0 47 37 27.0
Proposals 2 3 6 -33.3 -66.7 18 19 -5.3
Utilities 0 1 0 -100.0 n/a 9 8 12.5
Bankruptcies 0 1 0 -100.0 n/a 7 3 133.3
Proposals 0 0 0 n/a n/a 2 5 -60.0
Construction 63 35 54 80.0 16.7 671 751 -10.7
Bankruptcies 43 26 36 65.4 19.4 489 559 -12.5
Proposals 20 9 18 122.2 11.1 182 192 -5.2
Manufacturing 24 21 22 14.3 9.1 317 342 -7.3
Bankruptcies 18 15 17 20.0 5.9 228 256 -10.9
Proposals 6 6 5 0.0 20.0 89 86 3.5
Wholesale Trade 20 11 15 81.8 33.3 181 177 2.3
Bankruptcies 12 9 12 33.3 0.0 134 138 -2.9
Proposals 8 2 3 300.0 166.7 47 39 20.5
Retail Trade 28 25 30 12.0 -6.7 395 514 -23.2
Bankruptcies 22 24 25 -8.3 -12.0 295 382 -22.8
Proposals 6 1 5 500.0 20.0 100 132 -24.2
Transportation and Warehousing 13 18 14 -27.8 -7.1 241 215 12.1
Bankruptcies 12 14 11 -14.3 9.1 187 168 11.3
Proposals 1 4 3 -75.0 -66.7 54 47 14.9
Information and Cultural Industries 4 4 3 0.0 33.3 70 69 1.4
Bankruptcies 3 4 3 -25.0 0.0 49 61 -19.7
Proposals 1 0 0 n/a n/a 21 8 162.5
Finance and Insurance 3 9 6 -66.7 -50.0 63 69 -8.7
Bankruptcies 2 4 6 -50.0 -66.7 54 54 0.0
Proposals 1 5 0 -80.0 n/a 9 15 -40.0
Real Estate and Rental and Leasing 10 14 15 -28.6 -33.3 143 160 -10.6
Bankruptcies 4 11 13 -63.6 -69.2 97 113 -14.2
Proposals 6 3 2 100.0 200.0 46 47 -2.1
Professional, Scientific and Technical Services 17 19 17 -10.5 0.0 266 290 -8.3
Bankruptcies 12 19 12 -36.8 0.0 211 219 -3.7
Proposals 5 0 5 n/a 0.0 55 71 -22.5
Management of Companies and Enterprises 1 5 7 -80.0 -85.7 78 66 18.2
Bankruptcies 1 4 3 -75.0 -66.7 57 50 14.0
Proposals 0 1 4 -100.0 -100.0 21 16 31.3
Administrative and Support, Waste Management and Remediation Services 12 10 17 20.0 -29.4 177 188 -5.9
Bankruptcies 6 7 12 -14.3 -50.0 136 134 1.5
Proposals 6 3 5 100.0 20.0 41 54 -24.1
Educational Services 4 1 4 300.0 0.0 40 36 11.1
Bankruptcies 3 0 2 n/a 50.0 33 22 50.0
Proposals 1 1 2 0.0 -50.0 7 14 -50.0
Health Care and Social Assistance 5 7 6 -28.6 -16.7 79 72 9.7
Bankruptcies 3 7 6 -57.1 -50.0 60 57 5.3
Proposals 2 0 0 n/a n/a 19 15 26.7
Arts, Entertainment and Recreation 7 5 6 40.0 16.7 72 77 -6.5
Bankruptcies 7 2 4 250.0 75.0 53 61 -13.1
Proposals 0 3 2 -100.0 -100.0 19 16 18.8
Accommodation and Food Services 48 46 53 4.3 -9.4 538 648 -17.0
Bankruptcies 36 33 42 9.1 -14.3 420 499 -15.8
Proposals 12 13 11 -7.7 9.1 118 149 -20.8
Other Services (except Public Administration) 18 16 16 12.5 12.5 169 186 -9.1
Bankruptcies 14 14 14 0.0 0.0 139 153 -9.2
Proposals 4 2 2 100.0 100.0 30 33 -9.1
Public Administration 1 0 1 n/a 0.0 5 5 0.0
Bankruptcies 0 0 1 n/a -100.0 3 5 -40.0
Proposals 1 0 0 n/a n/a 2 0 n/a
Total 291 253 295 15.0 -1.4 3,664 4,005 -8.5
Bankruptcies 208 197 221 5.6 -5.9 2,763 3,024 -8.6
Proposals 83 56 74 48.2 12.2 901 981 -8.2
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