Insolvency Statistics in Canada—December 2017

Highlights

Read the report Insolvency Statistics in Canada—December 2017.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 19.8% in December 2017 from the previous month. Bankruptcies decreased by 13.7% and proposals decreased by 24.9%.

The total number of insolvencies in December 2017 was 2.4% lower than the total number of insolvencies in December 2016. Consumer insolvencies decreased by 2.4%, while business insolvencies decreased by 1.7%.

For the 12-month period ending December 31, 2017, the total number of insolvencies decreased by 3.0% compared with the 12-month period ending December 31, 2016.

Consumer insolvencies for the 12-month period ending December 31, 2017, decreased by 2.9% compared with the 12-month period ending December 31, 2016. Consumer bankruptcies decreased by 8.5%, while consumer proposals increased by 2.8%. The proportion of proposals in consumer insolvencies increased to 52.6% during the 12-month period ending December 31, 2017, up from 49.7% during the 12-month period ending December 31, 2016. For the 12-month period ending December 31, 2017, consumer insolvency filings accounted for 97.1% of total insolvency filings.

Business insolvencies for the 12-month period ending December 31, 2017, decreased by 6.2% compared with the 12-month period ending December 31, 2016. The three sectors that registered the biggest decrease in the number of insolvencies were accommodation and food services; construction; and retail trade. Manufacturing; and other services (except public administration) experienced the biggest increase in insolvencies.

Six Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in December 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—December 2017.

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