Insolvency Statistics in Canada—February 2014

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Detailed report

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 a 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
ProvinceVolume% Change12-Month Period Ending
Feb. 2014Jan. 2014Feb. 2013Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-201402-28-2013% Change
Newfoundland and Labrador12811014916.4-14.11,6561,789-7.4
Bankruptcies11610113614.9-14.71,4921,647-9.4
Proposals1291333.3-7.716414215.5
Prince Edward Island486447-25.02.16556284.3
Bankruptcies294835-39.6-17.1458481-4.8
Proposals19161218.858.319714734.0
Nova Scotia43430234043.727.64,8474,34611.5
Bankruptcies28719823244.923.73,4073,2235.7
Proposals14710410841.336.11,4401,12328.2
New Brunswick3333103157.45.74,0723,8844.8
Bankruptcies2362152339.81.32,9022,938-1.2
Proposals9795822.118.31,17094623.7
Quebec3,6703,4513,4606.36.142,46838,42110.5
Bankruptcies2,1882,0972,2094.3-1.026,73325,8833.3
Proposals1,4821,3541,2519.518.515,73512,53825.5
Ontario3,4253,1133,40610.00.644,88247,884-6.3
Bankruptcies1,5661,4151,62110.7-3.422,40023,828-6.0
Proposals1,8591,6981,7859.54.122,48224,056-6.5
Manitoba1301221256.64.01,9221,8672.9
Bankruptcies84767610.510.51,2661,271-0.4
Proposals4646490.0-6.165659610.1
Saskatchewan154166126-7.222.21,8671,7894.4
Bankruptcies909977-9.116.91,1351,0597.2
Proposals646749-4.530.67327300.3
Alberta6796447135.4-4.88,3119,346-11.1
Bankruptcies313343426-8.7-26.54,6005,776-20.4
Proposals36630128721.627.53,7113,5703.9
British Columbia9218599847.2-6.411,92611,8770.4
Bankruptcies5414996018.4-10.07,1537,666-6.7
Proposals3803603835.6-0.84,7734,21113.3
Northwest Territories404--0.04952-5.8
Bankruptcies203---33.329283.6
Proposals201--100.02024-16.7
Yukon356-40.0-50.03340-17.5
Bankruptcies153-80.0-66.725244.2
Proposals203---33.3816-50.0
Nunavut120-50.0--83166.7
Bankruptcies020-100.0--51400.0
Proposals100----3250.0
Canada9,9309,1489,6758.52.6122,696121,9260.6
Bankruptcies5,4535,0985,6527.0-3.571,60573,825-3.0
Proposals4,4774,0504,02310.511.351,09148,1016.2
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
Feb. 2014Jan. 2014Feb. 2013Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-201402-28-2013% Change
Newfoundland and Labrador12710614819.8-14.21,6251,767-8.0
Bankruptcies1159813517.3-14.81,4711,631-9.8
Proposals1281350.0-7.715413613.2
Prince Edward Island486444-25.09.16386124.2
Bankruptcies294832-39.6-9.4446466-4.3
Proposals19161218.858.319214631.5
Nova Scotia42729832843.330.24,7484,23612.1
Bankruptcies28419522445.626.83,3343,1356.3
Proposals14310310438.837.51,4141,10128.4
New Brunswick3273053087.26.23,9923,8174.6
Bankruptcies23321022811.02.22,8392,890-1.8
Proposals949580-1.117.51,15392724.4
Quebec3,4653,2863,2465.46.740,28236,38310.7
Bankruptcies2,0391,9702,0583.5-0.925,12624,3893.0
Proposals1,4261,3161,1888.420.015,15611,99426.4
Ontario3,3423,0133,31710.90.843,66346,571-6.2
Bankruptcies1,5111,3421,55612.6-2.921,45722,824-6.0
Proposals1,8311,6711,7619.64.022,20623,747-6.5
Manitoba1251181195.95.01,8581,8172.3
Bankruptcies7972709.712.91,2131,231-1.5
Proposals4646490.0-6.164558610.1
Saskatchewan145148114-2.027.21,7431,6694.4
Bankruptcies8787730.019.21,0599926.8
Proposals586141-4.941.56846771.0
Alberta6636366944.2-4.58,1289,062-10.3
Bankruptcies302336412-10.1-26.74,4695,567-19.7
Proposals36130028220.328.03,6593,4954.7
British Columbia8978449536.3-5.911,68411,6070.7
Bankruptcies5244865827.8-10.06,9697,476-6.8
Proposals3733583714.20.54,7154,13114.1
Northwest Territories404--0.04951-3.9
Bankruptcies203---33.329283.6
Proposals201--100.02023-13.0
Yukon354-40.0-25.03337-10.8
Bankruptcies151-80.00.0252119.0
Proposals203---33.3816-50.0
Nunavut120-50.0--82300.0
Bankruptcies020-100.0--50--
Proposals100----3250.0
Canada9,5748,8259,2798.53.2118,451117,6310.7
Bankruptcies5,2064,8515,3747.3-3.168,44270,650-3.1
Proposals4,3683,9743,9059.911.950,00946,9816.4
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
Feb. 2014Jan. 2014Feb. 2013Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-201402-28-2013% Change
Newfoundland and Labrador141-75.00.0312240.9
Bankruptcies131-66.70.0211631.3
Proposals010-100.0--10666.7
Prince Edward Island003---100.017166.3
Bankruptcies003---100.01215-20.0
Proposals000----51400.0
Nova Scotia741275.0-41.799110-10.0
Bankruptcies3380.0-62.57388-17.0
Proposals414300.00.0262218.2
New Brunswick65720.0-14.3806719.4
Bankruptcies355-40.0-40.0634831.3
Proposals302--50.01719-10.5
Quebec20516521424.2-4.22,1862,0387.3
Bankruptcies14912715117.3-1.31,6071,4947.6
Proposals56386347.4-11.15795446.4
Ontario8310089-17.0-6.71,2191,313-7.2
Bankruptcies557365-24.7-15.49431,004-6.1
Proposals2827243.716.7276309-10.7
Manitoba54625.0-16.7645028.0
Bankruptcies54625.0-16.7534032.5
Proposals000----111010.0
Saskatchewan91812-50.0-25.01241203.3
Bankruptcies3124-75.0-25.0766713.4
Proposals6680.0-25.04853-9.4
Alberta16819100.0-15.8183284-35.6
Bankruptcies1171457.1-21.4131209-37.3
Proposals515400.00.05275-30.7
British Columbia24153160.0-22.6242270-10.4
Bankruptcies17131930.8-10.5184190-3.2
Proposals7212250.0-41.75880-27.5
Northwest Territories000----01-100.0
Bankruptcies000----00--
Proposals000----01-100.0
Yukon002---100.003-100.0
Bankruptcies002---100.003-100.0
Proposals000----00--
Nunavut000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Canada35632339610.2-10.14,2454,295-1.2
Bankruptcies2472472780.0-11.23,1633,175-0.4
Proposals1097611843.4-7.61,0821,120-3.4
Table 4: Insolvencies by NAICS Economic Sectors, Canada
SectorVolume% Change12-Month Period Ending
Feb. 2014Jan. 2014Feb. 2013Jan. 2014
to
Feb. 2014
Feb. 2013
to
Feb. 2014
02-28-201402-28-2013% Change
Agriculture, Forestry, Fishing and Hunting599-44.4-44.412811214.3
Bankruptcies487-50.0-42.9928113.6
Proposals1120.0-50.0363116.1
Mining and Oil and Gas Extraction3300.0--393414.7
Bankruptcies32050.0--2026-23.1
Proposals010-100.0--198137.5
Utilities014-100.0-100.0622-72.7
Bankruptcies013-100.0-100.0312-75.0
Proposals001---100.0310-70.0
Construction6965876.2-20.7744824-9.7
Bankruptcies455057-10.0-21.1564599-5.8
Proposals24153060.0-20.0180225-20.0
Manufacturing3432356.3-2.9419423-0.9
Bankruptcies212422-12.5-4.52962902.1
Proposals1381362.50.0123133-7.5
Wholesale Trade142126-33.3-46.2225238-5.5
Bankruptcies81618-50.0-55.6154174-11.5
Proposals65820.0-25.0716410.9
Retail Trade404550-11.1-20.0520569-8.6
Bankruptcies303936-23.1-16.7418438-4.6
Proposals1061466.7-28.6102131-22.1
Transportation and Warehousing23151853.327.8233258-9.7
Bankruptcies14111227.316.7181209-13.4
Proposals946125.050.052496.1
Information and Cultural Industries454-20.00.05561-9.8
Bankruptcies43433.30.04451-13.7
Proposals020-100.0--111010.0
Finance and Insurance8311166.7-27.37177-7.8
Bankruptcies6310100.0-40.05764-10.9
Proposals201--100.014137.7
Real Estate and Rental and Leasing99130.0-30.814510933.0
Bankruptcies861033.3-20.01117352.1
Proposals133-66.7-66.73436-5.6
Professional, Scientific and Technical Services29152593.316.030626017.7
Bankruptcies23920155.615.021819114.1
Proposals6650.020.0886927.5
Management of Companies and Enterprises254-60.0-50.0715822.4
Bankruptcies253-60.0-33.349474.3
Proposals001---100.02211100.0
Administrative and Support, Waste Management and Remediation Services18811125.063.61931920.5
Bankruptcies1158120.037.5139142-2.1
Proposals733133.3133.354508.0
Educational Services523150.066.7363116.1
Bankruptcies521150.0400.0292516.0
Proposals002---100.07616.7
Health Care and Social Assistance11161,000.083.3705332.1
Bankruptcies614500.050.0524223.8
Proposals502--150.0181163.6
Arts, Entertainment and Recreation13191,200.044.480800.0
Bankruptcies11181,000.037.568637.9
Proposals201--100.01217-29.4
Accommodation and Food Services486459-25.0-18.66606265.4
Bankruptcies314740-34.0-22.548143410.8
Proposals1717190.0-10.5179192-6.8
Other Services (except Public Administration)21192210.5-4.5244265-7.9
Bankruptcies1514157.10.0187212-11.8
Proposals65720.0-14.357537.5
Public Administration000----03-100.0
Bankruptcies000----02-100.0
Proposals000----01-100.0
Total35632339610.2-10.14,2454,295-1.2
Bankruptcies2472472780.0-11.23,1633,175-0.4
Proposals1097611843.4-7.61,0821,120-3.4