Highlights
Read the report Insolvency Statistics in Canada—June 2014
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 11.9 percent in June 2014 from the previous month. Bankruptcies decreased by 15.1 percent and proposals decreased by 7.6 percent.
The total number of insolvencies in June 2014 was 0.4 percent lower than the total number of insolvencies in June 2013. Consumer insolvencies decreased by 0.3 percent, while business insolvencies decreased by 4.2 percent.
For the 12-month period ending June 30, 2014, the total number of insolvencies increased by 0.3 percent compared with the 12-month period ending June 30, 2013.
Consumer insolvencies for the 12-month period ending June 30, 2014, increased by 0.4 percent compared with the 12-month period ending June 30, 2013. Consumer bankruptcies decreased by 4.0 percent, while consumer proposals increased by 6.8 percent. The proportion of proposals in consumer insolvencies increased to 43.3 percent during the 12-month period ending June 30, 2014, up from 40.7 percent during the 12-month period ending June 30, 2013. For the 12-month period ending June 30, 2014, 96.5 percent of total insolvencies were filed by consumers.
Business insolvencies for the 12-month period ending June 30, 2014 decreased by 1.0 percent compared with the 12-month period ending June 30, 2013. The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; manufacturing; and accommodation and food services, whereas the agriculture, forestry, fishing and hunting and real estate and rental and leasing sectors experienced the biggest increases in insolvencies.
Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in June 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—June 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.