Insolvency Statistics in Canada—September 2017

Highlights

Read the report Insolvency Statistics in Canada—September 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 0.6% in September 2017 from the previous month. Bankruptcies increased by 2.0% and proposals decreased by 2.9%.

The total number of insolvencies in September 2017 was 5.9% lower than the total number of insolvencies in September 2016. Consumer insolvencies decreased by 5.7%, while business insolvencies decreased by 16.3%.

For the 12-month period ending September 30, 2017, the total number of insolvencies decreased by 3.0% compared with the 12-month period ending September 30, 2016.

Consumer insolvencies for the 12-month period ending September 30, 2017, decreased by 2.9% compared with the 12-month period ending September 30, 2016. Consumer bankruptcies decreased by 7.2%, while consumer proposals increased by 1.6%. The proportion of proposals in consumer insolvencies increased to 51.6% during the 12-month period ending September 30, 2017, up from 49.3% during the 12-month period ending September 30, 2016. For the 12-month period ending September 30, 2017, consumer insolvency filings accounted for 97.1% of total insolvency filings.

Business insolvencies for the 12-month period ending September 30, 2017, decreased by 8.1% compared with the 12-month period ending September 30, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were accommodation and food services; and retail trade. Transportation and warehousing; and agriculture, forestry, fishing and hunting experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in September 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—September 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—September 2017.

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