Insolvency Statistics in Canada—December 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
Dec. 2014Nov. 2014Dec. 2013Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-201412-31-2013% change
Newfoundland and Labrador9213188-29.84.51,5751,710-7.9
Bankruptcies7411078-32.7-5.11,3751,545-11.0
Proposals182110-14.380.020016521.2
Prince Edward Island5555560.0-1.873964015.5
Bankruptcies273534-22.9-20.651545812.4
Proposals28202240.027.322418223.1
Nova Scotia41637531910.930.45,3044,77111.2
Bankruptcies2992852394.925.13,7783,37911.8
Proposals117908030.046.31,5261,3929.6
New Brunswick3573562650.334.74,3954,0378.9
Bankruptcies2542471902.833.73,0892,9106.2
Proposals10310975-5.537.31,3061,12715.9
Quebec3,2763,7242,888-12.013.443,89142,1274.2
Bankruptcies1,8712,1851,760-14.46.326,13726,812-2.5
Proposals1,4051,5391,128-8.724.617,75415,31515.9
Ontario3,2503,2483,1600.12.842,19845,354-7.0
Bankruptcies1,7031,5311,65111.23.120,06922,731-11.7
Proposals1,5471,7171,509-9.92.522,12922,623-2.2
Manitoba1791661777.81.11,9481,9191.5
Bankruptcies1281171249.43.21,2481,269-1.7
Proposals5149534.1-3.87006507.7
Saskatchewan16913012530.035.22,0621,80514.2
Bankruptcies99637757.128.61,1821,1066.9
Proposals7067484.545.888069925.9
Alberta6666545561.819.88,4228,452-0.4
Bankruptcies271302298-10.3-9.13,9644,826-17.9
Proposals39535225812.253.14,4583,62622.9
British Columbia891892816-0.19.211,63912,057-3.5
Bankruptcies4884785252.1-7.06,5457,319-10.6
Proposals403414291-2.738.55,0944,7387.5
Northwest Territories75540.040.04951-3.9
Bankruptcies514400.025.02631-16.1
Proposals241-50.0100.0232015.0
Yukon423100.033.3403129.0
Bankruptcies102---50.022220.0
Proposals32150.0200.0189100.0
Nunavut100----7540.0
Bankruptcies100----5366.7
Proposals000----220.0
Canada9,3639,7388,458-3.910.7122,269122,959-0.6
Bankruptcies5,2215,3544,982-2.54.867,95572,411-6.2
Proposals4,1424,3843,476-5.519.254,31450,5487.5
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
Dec. 2014Nov. 2014Dec. 2013Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-201412-31-2013% change
Newfoundland and Labrador9012985-30.25.91,5451,678-7.9
Bankruptcies7210875-33.3-4.01,3481,524-11.5
Proposals182110-14.380.019715427.9
Prince Edward Island5353530.00.072161716.9
Bankruptcies253332-24.2-21.950244014.1
Proposals28202140.033.321917723.7
Nova Scotia40936831411.130.35,2274,66012.2
Bankruptcies2942802345.025.63,7263,29513.1
Proposals115888030.743.81,5011,36510.0
New Brunswick3493482570.335.84,3083,9558.9
Bankruptcies2472431821.635.73,0212,8466.1
Proposals10210575-2.936.01,2871,10916.1
Quebec3,0553,5162,695-13.113.441,55439,9474.0
Bankruptcies1,7422,0391,617-14.67.724,44725,221-3.1
Proposals1,3131,4771,078-11.121.817,10714,72616.2
Ontario3,1693,1563,0500.43.941,10844,134-6.9
Bankruptcies1,6451,4581,56512.85.119,23421,773-11.7
Proposals1,5241,6981,485-10.22.621,87422,361-2.2
Manitoba1751601719.42.31,8911,8522.1
Bankruptcies12511111812.65.91,2001,214-1.2
Proposals5049532.0-5.76916388.3
Saskatchewan15912612526.227.21,9381,69014.7
Bankruptcies91607751.718.21,1051,0386.5
Proposals6866483.041.783365227.8
Alberta6546435311.723.28,2818,2580.3
Bankruptcies262292284-10.3-7.73,8594,689-17.7
Proposals39235124711.758.74,4223,56923.9
British Columbia866877801-1.38.111,38311,802-3.6
Bankruptcies4704665120.9-8.26,3457,130-11.0
Proposals396411289-3.637.05,0384,6727.8
Northwest Territories75540.040.04951-3.9
Bankruptcies514400.025.02631-16.1
Proposals241-50.0100.0232015.0
Yukon32350.00.0392934.5
Bankruptcies102---50.0222010.0
Proposals2210.0100.017988.9
Nunavut100----6520.0
Bankruptcies100----4333.3
Proposals000----220.0
Canada8,9909,3838,090-4.211.1118,050118,678-0.5
Bankruptcies4,9805,0914,702-2.25.964,83969,224-6.3
Proposals4,0104,2923,388-6.618.453,21149,4547.6
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
Dec. 2014Nov. 2014Dec. 2013Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-201412-31-2013% change
Newfoundland and Labrador2230.0-33.33032-6.3
Bankruptcies2230.0-33.3272128.6
Proposals000----311-72.7
Prince Edward Island2230.0-33.31823-21.7
Bankruptcies2220.00.01318-27.8
Proposals001---100.0550.0
Nova Scotia7750.040.077111-30.6
Bankruptcies5550.00.05284-38.1
Proposals2200.0--2527-7.4
New Brunswick8880.00.087826.1
Bankruptcies74875.0-12.568646.3
Proposals140-75.0--19185.6
Quebec2212081936.314.52,3372,1807.2
Bankruptcies129146143-11.6-9.81,6901,5916.2
Proposals92625048.484.06475899.8
Ontario8192110-12.0-26.41,0901,220-10.7
Bankruptcies587386-20.5-32.6835958-12.8
Proposals23192421.1-4.2255262-2.7
Manitoba466-33.3-33.35767-14.9
Bankruptcies366-50.0-50.04855-12.7
Proposals100----912-25.0
Saskatchewan1040150.0--1241157.8
Bankruptcies830166.7--776813.2
Proposals210100.0--47470.0
Alberta1211259.1-52.0141194-27.3
Bankruptcies91014-10.0-35.7105137-23.4
Proposals3111200.0-72.73657-36.8
British Columbia25151566.766.72562550.4
Bankruptcies18121350.038.52001895.8
Proposals732133.3250.05666-15.2
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon100----12-50.0
Bankruptcies000----02-100.0
Proposals100----10--
Nunavut000----10--
Bankruptcies000----10--
Proposals000----00--
Canada3733553685.11.44,2194,281-1.4
Bankruptcies241263280-8.4-13.93,1163,187-2.2
Proposals132928843.550.01,1031,0940.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
SectorVolume% Change12-Month Period Ending
Dec. 2014Nov. 2014Dec. 2013Nov. 2014
to
Dec. 2014
Dec. 2013
to
Dec. 2014
12-31-201412-31-2013% change
Agriculture, Forestry, Fishing and Hunting651320.0-53.888133-33.8
Bankruptcies2511-60.0-81.86093-35.5
Proposals402--100.02840-30.0
Mining and Oil and Gas Extraction312200.050.0403321.2
Bankruptcies1120.0-50.0201533.3
Proposals200----201811.1
Utilities203---33.3131030.0
Bankruptcies002---100.09580.0
Proposals201--100.045-20.0
Construction555762-3.5-11.3719748-3.9
Bankruptcies42375113.5-17.6530564-6.0
Proposals132011-35.018.21891842.7
Manufacturing34283921.4-12.8386423-8.7
Bankruptcies28182555.612.0276295-6.4
Proposals61014-40.0-57.1110128-14.1
Wholesale Trade27142392.917.4226231-2.2
Bankruptcies20912122.266.7155161-3.7
Proposals751140.0-36.471701.4
Retail Trade334246-21.4-28.3498528-5.7
Bankruptcies243241-25.0-41.5376421-10.7
Proposals9105-10.080.012210714.0
Transportation and Warehousing461916142.1187.527323715.2
Bankruptcies91315-30.8-40.0185187-1.1
Proposals3761516.73,600.0885076.0
Information and Cultural Industries5109-50.0-44.4715236.5
Bankruptcies476-42.9-33.3504219.0
Proposals133-66.7-66.72110110.0
Finance and Insurance87514.360.080782.6
Bankruptcies87214.3300.064631.6
Proposals003---100.016156.7
Real Estate and Rental and Leasing71512-53.3-41.7134144-6.9
Bankruptcies6109-40.0-33.3101109-7.3
Proposals153-80.0-66.73335-5.7
Professional, Scientific and Technical Services3131220.040.93083041.3
Bankruptcies2524174.247.124221910.5
Proposals675-14.320.06685-22.4
Management of Companies and Enterprises76616.716.75969-14.5
Bankruptcies5520.0150.047462.2
Proposals214100.0-50.01223-47.8
Administrative and Support, Waste Management and Remediation Services26172052.930.022319912.1
Bankruptcies1211159.1-20.01571486.1
Proposals1465133.3180.0665129.4
Educational Services3310.0200.0523548.6
Bankruptcies231-33.3100.0442669.2
Proposals100----89-11.1
Health Care and Social Assistance101070.042.9996747.8
Bankruptcies574-28.625.0735143.1
Proposals53366.766.7261662.5
Arts, Entertainment and Recreation5107-50.0-28.684813.7
Bankruptcies43533.3-20.068680.0
Proposals172-85.7-50.0161323.1
Accommodation and Food Services497057-30.0-14.06606600.0
Bankruptcies346346-46.0-26.14934802.7
Proposals15711114.336.4167180-7.2
Other Services (except Public Administration)16101860.0-11.1205249-17.7
Bankruptcies1081425.0-28.6165194-14.9
Proposals624200.050.04055-27.3
Public Administration000----10--
Bankruptcies000----10--
Proposals000----00--
Total3733553685.11.44,2194,281-1.4
Bankruptcies241263280-8.4-13.93,1163,187-2.2
Proposals132928843.550.01,1031,0940.8