Highlights
Read the report Insolvency Statistics in Canada—August 2017.
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 9.5% in August 2017 from the previous month. Bankruptcies increased by 9.2% and proposals increased by 9.8%.
The total number of insolvencies in August 2017 was 0.4% lower than the total number of insolvencies in August 2016. Consumer insolvencies decreased by 0.4%, while business insolvencies decreased by 1.4%.
For the 12-month period ending August 31, 2017, the total number of insolvencies decreased by 2.2% compared with the 12-month period ending August 31, 2016.
Consumer insolvencies for the 12-month period ending August 31, 2017, decreased by 2.0% compared with the 12-month period ending August 31, 2016. Consumer bankruptcies decreased by 6.5%, while consumer proposals increased by 2.6%. The proportion of proposals in consumer insolvencies increased to 51.4% during the 12-month period ending August 31, 2017, up from 49.1% during the 12-month period ending August 31, 2016. For the 12-month period ending August 31, 2017, consumer insolvency filings accounted for 97.1% of the total insolvency filings.
Business insolvencies for the 12-month period ending August 31, 2017, decreased by 8.5% compared with the 12-month period ending August 31, 2016. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade; and accommodation and food services. Transportation and warehousing; and management of companies and enterprises experienced the biggest increase in insolvencies.
One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in August 2017. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.
Read the report Insolvency Statistics in Canada—August 2017.