Detailed report
PDF version
Insolvency Statistics in Canada—March 2014
512 KB, 7 pages
Tables
- Table 1: Total Insolvencies
- Table 2: Insolvencies Filed by Consumers
- Table 3: Insolvencies Filed by Businesses
- Table 4: Insolvencies by NAICS Economic Sectors, Canada
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.
| Province | Volume | % Change | 12-Month Period Ending | |||||
|---|---|---|---|---|---|---|---|---|
| March 2014 | Feb. 2014 | March 2013 | Feb. 2014 to March 2014 | March 2013 to March 2014 | 03-31-2014 | 03-31-2013 | % Change | |
| Newfoundland and Labrador | 149 | 128 | 145 | 16.4 | 2.8 | 1,660 | 1,770 | -6.2 |
| Bankruptcies | 130 | 116 | 136 | 12.1 | -4.4 | 1,486 | 1,627 | -8.7 |
| Proposals | 19 | 12 | 9 | 58.3 | 111.1 | 174 | 143 | 21.7 |
| Prince Edward Island | 63 | 48 | 37 | 31.3 | 70.3 | 681 | 622 | 9.5 |
| Bankruptcies | 40 | 29 | 29 | 37.9 | 37.9 | 469 | 472 | -0.6 |
| Proposals | 23 | 19 | 8 | 21.1 | 187.5 | 212 | 150 | 41.3 |
| Nova Scotia | 402 | 434 | 386 | -7.4 | 4.1 | 4,863 | 4,324 | 12.5 |
| Bankruptcies | 282 | 287 | 289 | -1.7 | -2.4 | 3,400 | 3,200 | 6.3 |
| Proposals | 120 | 147 | 97 | -18.4 | 23.7 | 1,463 | 1,124 | 30.2 |
| New Brunswick | 317 | 333 | 298 | -4.8 | 6.4 | 4,091 | 3,803 | 7.6 |
| Bankruptcies | 214 | 236 | 209 | -9.3 | 2.4 | 2,907 | 2,859 | 1.7 |
| Proposals | 103 | 97 | 89 | 6.2 | 15.7 | 1,184 | 944 | 25.4 |
| Quebec | 3,715 | 3,670 | 3,535 | 1.2 | 5.1 | 42,648 | 38,412 | 11.0 |
| Bankruptcies | 2,127 | 2,188 | 2,167 | -2.8 | -1.8 | 26,693 | 25,702 | 3.9 |
| Proposals | 1,588 | 1,482 | 1,368 | 7.2 | 16.1 | 15,955 | 12,710 | 25.5 |
| Ontario | 3,955 | 3,425 | 4,026 | 15.5 | -1.8 | 44,811 | 47,422 | -5.5 |
| Bankruptcies | 1,862 | 1,566 | 1,978 | 18.9 | -5.9 | 22,284 | 23,609 | -5.6 |
| Proposals | 2,093 | 1,859 | 2,048 | 12.6 | 2.2 | 22,527 | 23,813 | -5.4 |
| Manitoba | 159 | 130 | 165 | 22.3 | -3.6 | 1,916 | 1,861 | 3.0 |
| Bankruptcies | 98 | 84 | 110 | 16.7 | -10.9 | 1,254 | 1,269 | -1.2 |
| Proposals | 61 | 46 | 55 | 32.6 | 10.9 | 662 | 592 | 11.8 |
| Saskatchewan | 201 | 154 | 162 | 30.5 | 24.1 | 1,906 | 1,758 | 8.4 |
| Bankruptcies | 127 | 90 | 103 | 41.1 | 23.3 | 1,159 | 1,050 | 10.4 |
| Proposals | 74 | 64 | 59 | 15.6 | 25.4 | 747 | 708 | 5.5 |
| Alberta | 759 | 679 | 774 | 11.8 | -1.9 | 8,296 | 9,187 | -9.7 |
| Bankruptcies | 371 | 313 | 441 | 18.5 | -15.9 | 4,530 | 5,630 | -19.5 |
| Proposals | 388 | 366 | 333 | 6.0 | 16.5 | 3,766 | 3,557 | 5.9 |
| British Columbia | 1,021 | 921 | 998 | 10.9 | 2.3 | 11,949 | 11,770 | 1.5 |
| Bankruptcies | 604 | 541 | 619 | 11.6 | -2.4 | 7,138 | 7,586 | -5.9 |
| Proposals | 417 | 380 | 379 | 9.7 | 10.0 | 4,811 | 4,184 | 15.0 |
| Northwest Territories | 10 | 4 | 3 | 150.0 | 233.3 | 56 | 45 | 24.4 |
| Bankruptcies | 5 | 2 | 1 | 150.0 | 400.0 | 33 | 24 | 37.5 |
| Proposals | 5 | 2 | 2 | 150.0 | 150.0 | 23 | 21 | 9.5 |
| Yukon | 1 | 3 | 1 | -66.7 | 0.0 | 33 | 40 | -17.5 |
| Bankruptcies | 1 | 1 | 1 | 0.0 | 0.0 | 25 | 24 | 4.2 |
| Proposals | 0 | 2 | 0 | -100.0 | -- | 8 | 16 | -50.0 |
| Nunavut | 0 | 1 | 1 | -100.0 | -100.0 | 7 | 4 | 75.0 |
| Bankruptcies | 0 | 0 | 1 | -- | -100.0 | 4 | 2 | 100.0 |
| Proposals | 0 | 1 | 0 | -100.0 | -- | 3 | 2 | 50.0 |
| Canada | 10,752 | 9,930 | 10,531 | 8.3 | 2.1 | 122,917 | 121,018 | 1.6 |
| Bankruptcies | 5,861 | 5,453 | 6,084 | 7.5 | -3.7 | 71,382 | 73,054 | -2.3 |
| Proposals | 4,891 | 4,477 | 4,447 | 9.2 | 10.0 | 51,535 | 47,964 | 7.4 |
| Province | Volume | % Change | 12-Month Period Ending | |||||
|---|---|---|---|---|---|---|---|---|
| March 2014 | Feb. 2014 | March 2013 | Feb. 2014 to March 2014 | March 2013 to March 2014 | 03-31-2014 | 03-31-2013 | % Change | |
| Newfoundland and Labrador | 145 | 127 | 145 | 14.2 | 0.0 | 1,625 | 1,752 | -7.2 |
| Bankruptcies | 127 | 115 | 136 | 10.4 | -6.6 | 1,462 | 1,615 | -9.5 |
| Proposals | 18 | 12 | 9 | 50.0 | 100.0 | 163 | 137 | 19.0 |
| Prince Edward Island | 60 | 48 | 37 | 25.0 | 62.2 | 661 | 609 | 8.5 |
| Bankruptcies | 39 | 29 | 29 | 34.5 | 34.5 | 456 | 460 | -0.9 |
| Proposals | 21 | 19 | 8 | 10.5 | 162.5 | 205 | 149 | 37.6 |
| Nova Scotia | 396 | 427 | 380 | -7.3 | 4.2 | 4,764 | 4,215 | 13.0 |
| Bankruptcies | 280 | 284 | 283 | -1.4 | -1.1 | 3,331 | 3,112 | 7.0 |
| Proposals | 116 | 143 | 97 | -18.9 | 19.6 | 1,433 | 1,103 | 29.9 |
| New Brunswick | 302 | 327 | 296 | -7.6 | 2.0 | 3,998 | 3,736 | 7.0 |
| Bankruptcies | 202 | 233 | 207 | -13.3 | -2.4 | 2,834 | 2,811 | 0.8 |
| Proposals | 100 | 94 | 89 | 6.4 | 12.4 | 1,164 | 925 | 25.8 |
| Quebec | 3,520 | 3,465 | 3,354 | 1.6 | 4.9 | 40,448 | 36,369 | 11.2 |
| Bankruptcies | 1,974 | 2,039 | 2,030 | -3.2 | -2.8 | 25,070 | 24,190 | 3.6 |
| Proposals | 1,546 | 1,426 | 1,324 | 8.4 | 16.8 | 15,378 | 12,179 | 26.3 |
| Ontario | 3,864 | 3,342 | 3,908 | 15.6 | -1.1 | 43,619 | 46,146 | -5.5 |
| Bankruptcies | 1,797 | 1,511 | 1,885 | 18.9 | -4.7 | 21,369 | 22,631 | -5.6 |
| Proposals | 2,067 | 1,831 | 2,023 | 12.9 | 2.2 | 22,250 | 23,515 | -5.4 |
| Manitoba | 152 | 125 | 162 | 21.6 | -6.2 | 1,848 | 1,814 | 1.9 |
| Bankruptcies | 92 | 79 | 107 | 16.5 | -14.0 | 1,198 | 1,230 | -2.6 |
| Proposals | 60 | 46 | 55 | 30.4 | 9.1 | 650 | 584 | 11.3 |
| Saskatchewan | 182 | 145 | 146 | 25.5 | 24.7 | 1,779 | 1,634 | 8.9 |
| Bankruptcies | 112 | 87 | 90 | 28.7 | 24.4 | 1,081 | 979 | 10.4 |
| Proposals | 70 | 58 | 56 | 20.7 | 25.0 | 698 | 655 | 6.6 |
| Alberta | 749 | 663 | 754 | 13.0 | -0.7 | 8,123 | 8,908 | -8.8 |
| Bankruptcies | 365 | 302 | 429 | 20.9 | -14.9 | 4,405 | 5,428 | -18.8 |
| Proposals | 384 | 361 | 325 | 6.4 | 18.2 | 3,718 | 3,480 | 6.8 |
| British Columbia | 990 | 897 | 974 | 10.4 | 1.6 | 11,700 | 11,505 | 1.7 |
| Bankruptcies | 586 | 524 | 597 | 11.8 | -1.8 | 6,958 | 7,393 | -5.9 |
| Proposals | 404 | 373 | 377 | 8.3 | 7.2 | 4,742 | 4,112 | 15.3 |
| Northwest Territories | 10 | 4 | 3 | 150.0 | 233.3 | 56 | 44 | 27.3 |
| Bankruptcies | 5 | 2 | 1 | 150.0 | 400.0 | 33 | 24 | 37.5 |
| Proposals | 5 | 2 | 2 | 150.0 | 150.0 | 23 | 20 | 15.0 |
| Yukon | 1 | 3 | 1 | -66.7 | 0.0 | 33 | 37 | -10.8 |
| Bankruptcies | 1 | 1 | 1 | 0.0 | 0.0 | 25 | 21 | 19.0 |
| Proposals | 0 | 2 | 0 | -100.0 | -- | 8 | 16 | -50.0 |
| Nunavut | 0 | 1 | 1 | -100.0 | -100.0 | 7 | 3 | 133.3 |
| Bankruptcies | 0 | 0 | 1 | -- | -100.0 | 4 | 1 | 300.0 |
| Proposals | 0 | 1 | 0 | -100.0 | -- | 3 | 2 | 50.0 |
| Canada | 10,371 | 9,574 | 10,161 | 8.3 | 2.1 | 118,661 | 116,772 | 1.6 |
| Bankruptcies | 5,580 | 5,206 | 5,796 | 7.2 | -3.7 | 68,226 | 69,895 | -2.4 |
| Proposals | 4,791 | 4,368 | 4,365 | 9.7 | 9.8 | 50,435 | 46,877 | 7.6 |
| Province | Volume | % Change | 12-Month Period Ending | |||||
|---|---|---|---|---|---|---|---|---|
| March 2014 | Feb. 2014 | March 2013 | Feb. 2014 to March 2014 | March 2013 to March 2014 | 03-31-2014 | 03-31-2013 | % Change | |
| Newfoundland and Labrador | 4 | 1 | 0 | 300.0 | -- | 35 | 18 | 94.4 |
| Bankruptcies | 3 | 1 | 0 | 200.0 | -- | 24 | 12 | 100.0 |
| Proposals | 1 | 0 | 0 | -- | -- | 11 | 6 | 83.3 |
| Prince Edward Island | 3 | 0 | 0 | -- | -- | 20 | 13 | 53.8 |
| Bankruptcies | 1 | 0 | 0 | -- | -- | 13 | 12 | 8.3 |
| Proposals | 2 | 0 | 0 | -- | -- | 7 | 1 | 600.0 |
| Nova Scotia | 6 | 7 | 6 | -14.3 | 0.0 | 99 | 109 | -9.2 |
| Bankruptcies | 2 | 3 | 6 | -33.3 | -66.7 | 69 | 88 | -21.6 |
| Proposals | 4 | 4 | 0 | 0.0 | -- | 30 | 21 | 42.9 |
| New Brunswick | 15 | 6 | 2 | 150.0 | 650.0 | 93 | 67 | 38.8 |
| Bankruptcies | 12 | 3 | 2 | 300.0 | 500.0 | 73 | 48 | 52.1 |
| Proposals | 3 | 3 | 0 | 0.0 | -- | 20 | 19 | 5.3 |
| Quebec | 195 | 205 | 181 | -4.9 | 7.7 | 2,200 | 2,043 | 7.7 |
| Bankruptcies | 153 | 149 | 137 | 2.7 | 11.7 | 1,623 | 1,512 | 7.3 |
| Proposals | 42 | 56 | 44 | -25.0 | -4.5 | 577 | 531 | 8.7 |
| Ontario | 91 | 83 | 118 | 9.6 | -22.9 | 1,192 | 1,276 | -6.6 |
| Bankruptcies | 65 | 55 | 93 | 18.2 | -30.1 | 915 | 978 | -6.4 |
| Proposals | 26 | 28 | 25 | -7.1 | 4.0 | 277 | 298 | -7.0 |
| Manitoba | 7 | 5 | 3 | 40.0 | 133.3 | 68 | 47 | 44.7 |
| Bankruptcies | 6 | 5 | 3 | 20.0 | 100.0 | 56 | 39 | 43.6 |
| Proposals | 1 | 0 | 0 | -- | -- | 12 | 8 | 50.0 |
| Saskatchewan | 19 | 9 | 16 | 111.1 | 18.8 | 127 | 124 | 2.4 |
| Bankruptcies | 15 | 3 | 13 | 400.0 | 15.4 | 78 | 71 | 9.9 |
| Proposals | 4 | 6 | 3 | -33.3 | 33.3 | 49 | 53 | -7.5 |
| Alberta | 10 | 16 | 20 | -37.5 | -50.0 | 173 | 279 | -38.0 |
| Bankruptcies | 6 | 11 | 12 | -45.5 | -50.0 | 125 | 202 | -38.1 |
| Proposals | 4 | 5 | 8 | -20.0 | -50.0 | 48 | 77 | -37.7 |
| British Columbia | 31 | 24 | 24 | 29.2 | 29.2 | 249 | 265 | -6.0 |
| Bankruptcies | 18 | 17 | 22 | 5.9 | -18.2 | 180 | 193 | -6.7 |
| Proposals | 13 | 7 | 2 | 85.7 | 550.0 | 69 | 72 | -4.2 |
| Northwest Territories | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
| Proposals | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Yukon | 0 | 0 | 0 | -- | -- | 0 | 3 | -100.0 |
| Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 3 | -100.0 |
| Proposals | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
| Nunavut | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Proposals | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
| Canada | 381 | 356 | 370 | 7.0 | 3.0 | 4,256 | 4,246 | 0.2 |
| Bankruptcies | 281 | 247 | 288 | 13.8 | -2.4 | 3,156 | 3,159 | -0.1 |
| Proposals | 100 | 109 | 82 | -8.3 | 22.0 | 1,100 | 1,087 | 1.2 |
| Sector | Volume | % Change | 12-Month Period Ending | |||||
|---|---|---|---|---|---|---|---|---|
| March 2014 | Feb. 2014 | March 2013 | Feb. 2014 to March 2014 | March 2013 to March 2014 | 03-31-2014 | 03-31-2013 | % Change | |
| Agriculture, Forestry, Fishing and Hunting | 11 | 5 | 11 | 120.0 | 0.0 | 128 | 117 | 9.4 |
| Bankruptcies | 8 | 4 | 9 | 100.0 | -11.1 | 91 | 84 | 8.3 |
| Proposals | 3 | 1 | 2 | 200.0 | 50.0 | 37 | 33 | 12.1 |
| Mining and Oil and Gas Extraction | 8 | 3 | 5 | 166.7 | 60.0 | 42 | 39 | 7.7 |
| Bankruptcies | 3 | 3 | 2 | 0.0 | 50.0 | 21 | 28 | -25.0 |
| Proposals | 5 | 0 | 3 | -- | 66.7 | 21 | 11 | 90.9 |
| Utilities | 3 | 0 | 0 | -- | -- | 9 | 21 | -57.1 |
| Bankruptcies | 3 | 0 | 0 | -- | -- | 6 | 11 | -45.5 |
| Proposals | 0 | 0 | 0 | -- | -- | 3 | 10 | -70.0 |
| Construction | 54 | 69 | 66 | -21.7 | -18.2 | 732 | 796 | -8.0 |
| Bankruptcies | 44 | 45 | 57 | -2.2 | -22.8 | 551 | 587 | -6.1 |
| Proposals | 10 | 24 | 9 | -58.3 | 11.1 | 181 | 209 | -13.4 |
| Manufacturing | 32 | 34 | 36 | -5.9 | -11.1 | 415 | 418 | -0.7 |
| Bankruptcies | 22 | 21 | 24 | 4.8 | -8.3 | 294 | 288 | 2.1 |
| Proposals | 10 | 13 | 12 | -23.1 | -16.7 | 121 | 130 | -6.9 |
| Wholesale Trade | 19 | 14 | 14 | 35.7 | 35.7 | 230 | 226 | 1.8 |
| Bankruptcies | 8 | 8 | 12 | 0.0 | -33.3 | 150 | 165 | -9.1 |
| Proposals | 11 | 6 | 2 | 83.3 | 450.0 | 80 | 61 | 31.1 |
| Retail Trade | 48 | 40 | 52 | 20.0 | -7.7 | 516 | 561 | -8.0 |
| Bankruptcies | 36 | 30 | 41 | 20.0 | -12.2 | 413 | 438 | -5.7 |
| Proposals | 12 | 10 | 11 | 20.0 | 9.1 | 103 | 123 | -16.3 |
| Transportation and Warehousing | 30 | 23 | 18 | 30.4 | 66.7 | 245 | 257 | -4.7 |
| Bankruptcies | 24 | 14 | 14 | 71.4 | 71.4 | 191 | 209 | -8.6 |
| Proposals | 6 | 9 | 4 | -33.3 | 50.0 | 54 | 48 | 12.5 |
| Information and Cultural Industries | 7 | 4 | 5 | 75.0 | 40.0 | 57 | 60 | -5.0 |
| Bankruptcies | 3 | 4 | 5 | -25.0 | -40.0 | 42 | 50 | -16.0 |
| Proposals | 4 | 0 | 0 | -- | -- | 15 | 10 | 50.0 |
| Finance and Insurance | 12 | 8 | 5 | 50.0 | 140.0 | 78 | 73 | 6.8 |
| Bankruptcies | 7 | 6 | 4 | 16.7 | 75.0 | 60 | 61 | -1.6 |
| Proposals | 5 | 2 | 1 | 150.0 | 400.0 | 18 | 12 | 50.0 |
| Real Estate and Rental and Leasing | 13 | 9 | 18 | 44.4 | -27.8 | 140 | 112 | 25.0 |
| Bankruptcies | 9 | 8 | 16 | 12.5 | -43.8 | 104 | 79 | 31.6 |
| Proposals | 4 | 1 | 2 | 300.0 | 100.0 | 36 | 33 | 9.1 |
| Professional, Scientific and Technical Services | 29 | 29 | 36 | 0.0 | -19.4 | 299 | 268 | 11.6 |
| Bankruptcies | 22 | 23 | 29 | -4.3 | -24.1 | 211 | 199 | 6.0 |
| Proposals | 7 | 6 | 7 | 16.7 | 0.0 | 88 | 69 | 27.5 |
| Management of Companies and Enterprises | 2 | 2 | 7 | 0.0 | -71.4 | 66 | 60 | 10.0 |
| Bankruptcies | 2 | 2 | 6 | 0.0 | -66.7 | 45 | 49 | -8.2 |
| Proposals | 0 | 0 | 1 | -- | -100.0 | 21 | 11 | 90.9 |
| Administrative and Support, Waste Management and Remediation Services | 15 | 18 | 18 | -16.7 | -16.7 | 190 | 195 | -2.6 |
| Bankruptcies | 9 | 11 | 13 | -18.2 | -30.8 | 135 | 145 | -6.9 |
| Proposals | 6 | 7 | 5 | -14.3 | 20.0 | 55 | 50 | 10.0 |
| Educational Services | 6 | 5 | 2 | 20.0 | 200.0 | 40 | 29 | 37.9 |
| Bankruptcies | 5 | 5 | 1 | 0.0 | 400.0 | 33 | 23 | 43.5 |
| Proposals | 1 | 0 | 1 | -- | 0.0 | 7 | 6 | 16.7 |
| Health Care and Social Assistance | 9 | 11 | 3 | -18.2 | 200.0 | 76 | 53 | 43.4 |
| Bankruptcies | 8 | 6 | 2 | 33.3 | 300.0 | 58 | 41 | 41.5 |
| Proposals | 1 | 5 | 1 | -80.0 | 0.0 | 18 | 12 | 50.0 |
| Arts, Entertainment and Recreation | 10 | 13 | 6 | -23.1 | 66.7 | 84 | 77 | 9.1 |
| Bankruptcies | 10 | 11 | 6 | -9.1 | 66.7 | 72 | 62 | 16.1 |
| Proposals | 0 | 2 | 0 | -100.0 | -- | 12 | 15 | -20.0 |
| Accommodation and Food Services | 52 | 48 | 57 | 8.3 | -8.8 | 655 | 626 | 4.6 |
| Bankruptcies | 43 | 31 | 40 | 38.7 | 7.5 | 484 | 438 | 10.5 |
| Proposals | 9 | 17 | 17 | -47.1 | -47.1 | 171 | 188 | -9.0 |
| Other Services (except Public Administration) | 21 | 21 | 11 | 0.0 | 90.9 | 254 | 257 | -1.2 |
| Bankruptcies | 15 | 15 | 7 | 0.0 | 114.3 | 195 | 202 | -3.5 |
| Proposals | 6 | 6 | 4 | 0.0 | 50.0 | 59 | 55 | 7.3 |
| Public Administration | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Bankruptcies | 0 | 0 | 0 | -- | -- | 0 | 0 | -- |
| Proposals | 0 | 0 | 0 | -- | -- | 0 | 1 | -100.0 |
| Total | 381 | 356 | 370 | 7.0 | 3.0 | 4,256 | 4,246 | 0.2 |
| Bankruptcies | 281 | 247 | 288 | 13.8 | -2.4 | 3,156 | 3,159 | -0.1 |
| Proposals | 100 | 109 | 82 | -8.3 | 22.0 | 1,100 | 1,087 | 1.2 |