Insolvency Statistics in Canada—October 2017

Highlights

Read the report Insolvency Statistics in Canada—October 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 6.0% in October 2017 from the previous month. Bankruptcies increased by 4.0% and proposals increased by 7.8%.

The total number of insolvencies in October 2017 was 2.6% higher than the total number of insolvencies in October 2016. Consumer insolvencies increased by 2.5%, while business insolvencies increased by 6.2%.

For the 12-month period ending October 31, 2017, the total number of insolvencies decreased by 2.6% compared with the 12-month period ending October 31, 2016.

Consumer insolvencies for the 12-month period ending October 31, 2017, decreased by 2.5% compared with the 12-month period ending October 31, 2016. Consumer bankruptcies decreased by 7.4%, while consumer proposals increased by 2.5%. The proportion of proposals in consumer insolvencies increased to 51.9% during the 12-month period ending October 31, 2017, up from 49.4% during the 12-month period ending October 31, 2016. For the 12-month period ending October 31, 2017, consumer insolvency filings accounted for 97.1% of the total insolvency filings.

Business insolvencies for the 12-month period ending October 31, 2017, decreased by 7.1% compared with the 12-month period ending October 31, 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 experienced the biggest increase in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in October 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—October 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—October 2017.

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