Insolvency Statistics in Canada—March 2012

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Tables

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

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
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.
Bankruptcy:
The state of a consumer or business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
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.
NAICS:
North American Industry Classification System.
Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
March 2012 Feb. 2012 March 2011 Feb. 2012 to March 2012 March 2011 to March 2012 03-31-2012 03-31-2011 % Change
Newfoundland and Labrador 164 154 242 6.5 -32.2 1,992 2,424 -17.8
Bankruptcies 156 143 226 9.1 -31.0 1,868 2,280 -18.1
Proposals 8 11 16 -27.3 -50.0 124 144 -13.9
Prince Edward Island 43 55 86 -21.8 -50.0 602 644 -6.5
Bankruptcies 38 44 77 -13.6 -50.6 489 575 -15.0
Proposals 5 11 9 -54.5 -44.4 113 69 63.8
Nova Scotia 408 404 521 1.0 -21.7 4,492 5,287 -15.0
Bankruptcies 312 299 412 4.3 -24.3 3,521 4,256 -17.3
Proposals 96 105 109 -8.6 -11.9 971 1,031 -5.8
New Brunswick 379 337 321 12.5 18.1 3,790 3,694 2.6
Bankruptcies 288 244 258 18.0 11.6 3,015 3,088 -2.4
Proposals 91 93 63 -2.2 44.4 775 606 27.9
Quebec 3,544 3,389 3,599 4.6 -1.5 37,824 39,642 -4.6
Bankruptcies 2,348 2,328 2,541 0.9 -7.6 26,855 29,216 -8.1
Proposals 1,196 1,061 1,058 12.7 13.0 10,969 10,426 5.2
Ontario 4,488 4,254 5,310 5.5 -15.5 51,277 57,066 -10.1
Bankruptcies 2,197 2,028 2,698 8.3 -18.6 26,197 32,350 -19.0
Proposals 2,291 2,226 2,612 2.9 -12.3 25,080 24,716 1.5
Manitoba 171 162 241 5.6 -29.0 2,108 2,665 -20.9
Bankruptcies 112 106 171 5.7 -34.5 1,470 1,964 -25.2
Proposals 59 56 70 5.4 -15.7 638 701 -9.0
Saskatchewan 193 153 233 26.1 -17.2 2,132 2,403 -11.3
Bankruptcies 112 86 149 30.2 -24.8 1,297 1,543 -15.9
Proposals 81 67 84 20.9 -3.6 835 860 -2.9
Alberta 933 827 963 12.8 -3.1 10,249 11,114 -7.8
Bankruptcies 587 558 706 5.2 -16.9 7,003 8,298 -15.6
Proposals 346 269 257 28.6 34.6 3,246 2,816 15.3
British Columbia 1,105 1,110 1,144 -0.5 -3.4 11,955 12,769 -6.4
Bankruptcies 699 726 828 -3.7 -15.6 7,976 9,628 -17.2
Proposals 406 384 316 5.7 28.5 3,979 3,141 26.7
Northwest Territories 10 4 6 150.0 66.7 50 48 4.2
Bankruptcies 5 4 4 25.0 25.0 35 31 12.9
Proposals 5 0 2 150.0 15 17 -11.8
Yukon 1 2 4 -50.0 -75.0 32 43 -25.6
Bankruptcies 1 2 3 -50.0 -66.7 28 37 -24.3
Proposals 0 0 1 -100.0 4 6 -33.3
Nunavut 0 1 1 -100.0 -100.0 6 5 20.0
Bankruptcies 0 0 1 -100.0 4 5 -20.0
Proposals 0 1 0 -100.0 2 0
Canada 11,439 10,852 12,671 5.4 -9.7 126,509 137,804 -8.2
Bankruptcies 6,855 6,568 8,074 4.4 -15.1 79,758 93,271 -14.5
Proposals 4,584 4,284 4,597 7.0 -0.3 46,751 44,533 5.0
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March 2012 Feb. 2012 March 2011 Feb. 2012 to March 2012 March 2011 to March 2012 03-31-2012 03-31-2011 % Change
Newfoundland and Labrador 160 153 236 4.6 -32.2 1,969 2,396 -17.8
Bankruptcies 152 142 220 7.0 -30.9 1,847 2,254 -18.1
Proposals 8 11 16 -27.3 -50.0 122 142 -14.1
Prince Edward Island 40 51 84 -21.6 -52.4 578 624 -7.4
Bankruptcies 35 40 75 -12.5 -53.3 470 561 -16.2
Proposals 5 11 9 -54.5 -44.4 108 63 71.4
Nova Scotia 401 391 505 2.6 -20.6 4,394 5,106 -13.9
Bankruptcies 306 288 396 6.3 -22.7 3,441 4,104 -16.2
Proposals 95 103 109 -7.8 -12.8 953 1,002 -4.9
New Brunswick 377 328 316 14.9 19.3 3,725 3,622 2.8
Bankruptcies 286 237 255 20.7 12.2 2,963 3,029 -2.2
Proposals 91 91 61 0.0 49.2 762 593 28.5
Quebec 3,368 3,214 3,376 4.8 -0.2 35,726 37,543 -4.8
Bankruptcies 2,229 2,195 2,386 1.5 -6.6 25,323 27,680 -8.5
Proposals 1,139 1,019 990 11.8 15.1 10,403 9,863 5.5
Ontario 4,333 4,140 5,105 4.7 -15.1 49,706 55,300 -10.1
Bankruptcies 2,078 1,938 2,539 7.2 -18.2 24,960 30,902 -19.2
Proposals 2,255 2,202 2,566 2.4 -12.1 24,746 24,398 1.4
Manitoba 165 155 231 6.5 -28.6 2,038 2,593 -21.4
Bankruptcies 108 102 164 5.9 -34.1 1,413 1,907 -25.9
Proposals 57 53 67 7.5 -14.9 625 686 -8.9
Saskatchewan 181 144 211 25.7 -14.2 1,987 2,257 -12.0
Bankruptcies 103 81 139 27.2 -25.9 1,193 1,449 -17.7
Proposals 78 63 72 23.8 8.3 794 808 -1.7
Alberta 908 789 935 15.1 -2.9 9,910 10,700 -7.4
Bankruptcies 568 533 680 6.6 -16.5 6,753 7,947 -15.0
Proposals 340 256 255 32.8 33.3 3,157 2,753 14.7
British Columbia 1,076 1,077 1,124 -0.1 -4.3 11,688 12,525 -6.7
Bankruptcies 680 702 813 -3.1 -16.4 7,773 9,426 -17.5
Proposals 396 375 311 5.6 27.3 3,915 3,099 26.3
Northwest Territories 10 4 5 150.0 100.0 50 45 11.1
Bankruptcies 5 4 4 25.0 25.0 35 31 12.9
Proposals 5 0 1 400.0 15 14 7.1
Yukon 1 2 4 -50.0 -75.0 31 41 -24.4
Bankruptcies 1 2 3 -50.0 -66.7 27 37 -27.0
Proposals 0 0 1 -100.0 4 4 0.0
Nunavut 0 1 1 -100.0 -100.0 6 5 20.0
Bankruptcies 0 0 1 -100.0 4 5 -20.0
Proposals 0 1 0 -100.0 2 0
Canada 11,020 10,449 12,133 5.5 -9.2 121,808 132,757 -8.2
Bankruptcies 6,551 6,264 7,675 4.6 -14.6 76,202 89,332 -14.7
Proposals 4,469 4,185 4,458 6.8 0.2 45,606 43,425 5.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March 2012 Feb. 2012 March 2011 Feb. 2012 to March 2012 March 2011 to March 2012 03-31-2012 03-31-2011 % Change
Newfoundland and Labrador 4 1 6 300.0 -33.3 23 28 -17.9
Bankruptcies 4 1 6 300.0 -33.3 21 26 -19.2
Proposals 0 0 0 2 2 0.0
Prince Edward Island 3 4 2 -25.0 50.0 24 20 20.0
Bankruptcies 3 4 2 -25.0 50.0 19 14 35.7
Proposals 0 0 0 5 6 -16.7
Nova Scotia 7 13 16 -46.2 -56.3 98 181 -45.9
Bankruptcies 6 11 16 -45.5 -62.5 80 152 -47.4
Proposals 1 2 0 -50.0 18 29 -37.9
New Brunswick 2 9 5 -77.8 -60.0 65 72 -9.7
Bankruptcies 2 7 3 -71.4 -33.3 52 59 -11.9
Proposals 0 2 2 -100.0 -100.0 13 13 0.0
Quebec 176 175 223 0.6 -21.1 2,098 2,099 0.0
Bankruptcies 119 133 155 -10.5 -23.2 1,532 1,536 -0.3
Proposals 57 42 68 35.7 -16.2 566 563 0.5
Ontario 155 114 205 36.0 -24.4 1,571 1,766 -11.0
Bankruptcies 119 90 159 32.2 -25.2 1,237 1,448 -14.6
Proposals 36 24 46 50.0 -21.7 334 318 5.0
Manitoba 6 7 10 -14.3 -40.0 70 72 -2.8
Bankruptcies 4 4 7 0.0 -42.9 57 57 0.0
Proposals 2 3 3 -33.3 -33.3 13 15 -13.3
Saskatchewan 12 9 22 33.3 -45.5 145 146 -0.7
Bankruptcies 9 5 10 80.0 -10.0 104 94 10.6
Proposals 3 4 12 -25.0 -75.0 41 52 -21.2
Alberta 25 38 28 -34.2 -10.7 339 414 -18.1
Bankruptcies 19 25 26 -24.0 -26.9 250 351 -28.8
Proposals 6 13 2 -53.8 200.0 89 63 41.3
British Columbia 29 33 20 -12.1 45.0 267 244 9.4
Bankruptcies 19 24 15 -20.8 26.7 203 202 0.5
Proposals 10 9 5 11.1 100.0 64 42 52.4
Northwest Territories 0 0 1 -100.0 0 3 -100.0
Bankruptcies 0 0 0 0 0
Proposals 0 0 1 -100.0 0 3 -100.0
Yukon 0 0 0 1 2 -50.0
Bankruptcies 0 0 0 1 0
Proposals 0 0 0 0 2 -100.0
Nunavut 0 0 0 0 0
Bankruptcies 0 0 0 0 0
Proposals 0 0 0 0 0
Canada 419 403 538 4.0 -22.1 4,701 5,047 -6.9
Bankruptcies 304 304 399 0.0 -23.8 3,556 3,939 -9.7
Proposals 115 99 139 16.2 -17.3 1,145 1,108 3.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
Province Volume % Change 12-Month Period Ending
March 2012 Feb. 2012 March 2011 Feb. 2012 to March 2012 March 2011 to March 2012 03-31-2012 03-31-2011 % Change
Agriculture, Forestry, Fishing and Hunting 6 13 20 -53.8 -70.0 122 142 -14.1
Bankruptcies 6 11 13 -45.5 -53.8 89 99 -10.1
Proposals 0 2 7 -100.0 -100.0 33 43 -23.3
Mining and Oil and Gas Extraction 0 0 1 -100.0 19 46 -58.7
Bankruptcies 0 0 1 -100.0 13 30 -56.7
Proposals 0 0 0 6 16 -62.5
Utilities 1 0 3 -66.7 15 8 87.5
Bankruptcies 1 0 2 -50.0 11 7 57.1
Proposals 0 0 1 -100.0 4 1 300.0
Construction 94 70 96 34.3 -2.1 795 838 -5.1
Bankruptcies 69 48 75 43.8 -8.0 609 679 -10.3
Proposals 25 22 21 13.6 19.0 186 159 17.0
Manufacturing 41 40 62 2.5 -33.9 547 539 1.5
Bankruptcies 26 31 37 -16.1 -29.7 396 393 0.8
Proposals 15 9 25 66.7 -40.0 151 146 3.4
Wholesale Trade 26 21 29 23.8 -10.3 264 295 -10.5
Bankruptcies 21 15 20 40.0 5.0 204 230 -11.3
Proposals 5 6 9 -16.7 -44.4 60 65 -7.7
Retail Trade 60 41 79 46.3 -24.1 614 725 -15.3
Bankruptcies 41 31 66 32.3 -37.9 460 592 -22.3
Proposals 19 10 13 90.0 46.2 154 133 15.8
Transportation and Warehousing 19 20 26 -5.0 -26.9 302 341 -11.4
Bankruptcies 14 16 24 -12.5 -41.7 243 285 -14.7
Proposals 5 4 2 25.0 150.0 59 56 5.4
Information and Cultural Industries 6 5 9 20.0 -33.3 71 77 -7.8
Bankruptcies 6 5 7 20.0 -14.3 52 50 4.0
Proposals 0 0 2 -100.0 19 27 -29.6
Finance and Insurance 9 9 11 0.0 -18.2 102 103 -1.0
Bankruptcies 7 8 10 -12.5 -30.0 74 83 -10.8
Proposals 2 1 1 100.0 100.0 28 20 40.0
Real Estate and Rental and Leasing 15 16 14 -6.3 7.1 129 182 -29.1
Bankruptcies 10 11 8 -9.1 25.0 97 136 -28.7
Proposals 5 5 6 0.0 -16.7 32 46 -30.4
Professional, Scientific and Technical Services 28 30 38 -6.7 -26.3 298 307 -2.9
Bankruptcies 21 21 19 0.0 10.5 209 223 -6.3
Proposals 7 9 19 -22.2 -63.2 89 84 6.0
Management of Companies and Enterprises 5 7 5 -28.6 0.0 60 70 -14.3
Bankruptcies 4 5 5 -20.0 -20.0 48 49 -2.0
Proposals 1 2 0 -50.0 12 21 -42.9
Administrative and Support, Waste Management and Remediation Services 15 26 20 -42.3 -25.0 224 211 6.2
Bankruptcies 10 17 15 -41.2 -33.3 167 173 -3.5
Proposals 5 9 5 -44.4 0.0 57 38 50.0
Educational Services 4 6 4 -33.3 0.0 34 39 -12.8
Bankruptcies 3 5 3 -40.0 0.0 25 32 -21.9
Proposals 1 1 1 0.0 0.0 9 7 28.6
Health Care and Social Assistance 3 3 13 0.0 -76.9 73 67 9.0
Bankruptcies 3 2 13 50.0 -76.9 51 50 2.0
Proposals 0 1 0 -100.0 22 17 29.4
Arts, Entertainment and Recreation 9 10 6 -10.0 50.0 92 86 7.0
Bankruptcies 7 9 5 -22.2 40.0 79 75 5.3
Proposals 2 1 1 100.0 100.0 13 11 18.2
Accommodation and Food Services 57 57 72 0.0 -20.8 653 659 -0.9
Bankruptcies 36 45 54 -20.0 -33.3 495 494 0.2
Proposals 21 12 18 75.0 16.7 158 165 -4.2
Other Services (except Public Administration) 19 29 30 -34.5 -36.7 280 306 -8.5
Bankruptcies 17 24 22 -29.2 -22.7 228 256 -10.9
Proposals 2 5 8 -60.0 -75.0 52 50 4.0
Public Administration 2 0 0 6 6 0.0
Bankruptcies 2 0 0 5 3 66.7
Proposals 0 0 0 1 3 -66.7
Total 419 403 538 4.0 -22.1 4,701 5,047 -6.9
Bankruptcies 304 304 399 0.0 -23.8 3,556 3,939 -9.7
Proposals 115 99 139 16.2 -17.3 1,145 1,108 3.3