Insolvency Statistics in Canada—December 2017

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

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.

Business: Any commercial entity or organization other than an individual, or an individual who has incurred 50% or more of total liabilities as a result of operating a business.

Consumer: An individual with more than 50% of total liabilities related to consumer goods and services.

NAICS: North American Industry Classification System.

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.

Table 1: Total Insolvencies
Province Volume % Change 12-Month Period Ending
December 2017 November 2017 December 2016 Nov. 2017
to
Dec. 2017
Dec. 2016
to
Dec. 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 164 239 168 -31.4 -2.4 2,515 2,427 3.6
Bankruptcies 94 135 96 -30.4 -2.1 1,390 1,574 -11.7
Proposals 70 104 72 -32.7 -2.8 1,125 853 31.9
Prince Edward Island 42 74 44 -43.2 -4.5 685 815 -16
Bankruptcies 21 41 28 -48.8 -25.0 397 507 -21.7
Proposals 21 33 16 -36.4 31.3 288 308 -6.5
Nova Scotia 375 457 407 -17.9 -7.9 5,773 6,023 -4.2
Bankruptcies 261 283 271 -7.8 -3.7 3,850 4,254 -9.5
Proposals 114 174 136 -34.5 -16.2 1,923 1,769 8.7
New Brunswick 362 369 344 -1.9 5.2 4,418 4,501 -1.8
Bankruptcies 192 195 229 -1.5 -16.2 2,500 2,949 -15.2
Proposals 170 174 115 -2.3 47.8 1,918 1,552 23.6
Quebec 3,063 3,946 3,158 -22.4 -3.0 43,731 45,206 -3.3
Bankruptcies 1,699 2,052 1,863 -17.2 -8.8 24,210 25,901 -6.5
Proposals 1,364 1,894 1,295 -28.0 5.3 19,521 19,305 1.1
Ontario 2,687 3,444 2,802 -22.0 -4.1 39,045 40,551 -3.7
Bankruptcies 1,180 1,307 1,210 -9.7 -2.5 15,968 17,595 -9.2
Proposals 1,507 2,137 1,592 -29.5 -5.3 23,077 22,956 0.5
Manitoba 190 233 190 -18.5 0.0 2,643 2,659 -0.6
Bankruptcies 117 131 97 -10.7 20.6 1,408 1,482 -5.0
Proposals 73 102 93 -28.4 -21.5 1,235 1,177 4.9
Saskatchewan 247 265 262 -6.8 -5.7 3,258 3,077 5.9
Bankruptcies 124 116 130 6.9 -4.6 1,472 1,512 -2.6
Proposals 123 149 132 -17.4 -6.8 1,786 1,565 14.1
Alberta 973 1,145 991 -15.0 -1.8 13,481 13,338 1.1
Bankruptcies 359 418 411 -14.1 -12.7 5,139 5,548 -7.4
Proposals 614 727 580 -15.5 5.9 8,342 7,790 7.1
British Columbia 770 898 732 -14.3 5.2 10,136 11,005 -7.9
Bankruptcies 299 361 344 -17.2 -13.1 4,263 4,868 -12.4
Proposals 471 537 388 -12.3 21.4 5,873 6,137 -4.3
Northwest Territories 8 13 7 -38.5 14.3 81 60 35.0
Bankruptcies 4 9 5 -55.6 -20.0 52 35 48.6
Proposals 4 4 2 0.0 100.0 29 25 16.0
Yukon 5 5 3 0.0 66.7 37 55 -32.7
Bankruptcies 2 0 1 n/a 100.0 18 27 -33.3
Proposals 3 5 2 -40.0 50.0 19 28 -32.1
Nunavut 3 0 0 n/a n/a 4 10 -60.0
Bankruptcies 2 0 0 n/a n/a 2 4 -50.0
Proposals 1 0 0 n/a n/a 2 6 -66.7
Canada 8,889 11,088 9,108 -19.8 -2.4 125,807 129,727 -3.0
Bankruptcies 4,354 5,048 4,685 -13.7 -7.1 60,669 66,256 -8.4
Proposals 4,535 6,040 4,423 -24.9 2.5 65,138 63,471 2.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
December 2017 November 2017 December 2016 Nov. 2017
to
Dec. 2017
Dec. 2016
to
Dec. 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 164 232 166 -29.3 -1.2 2,479 2,399 3.3
Bankruptcies 94 130 94 -27.7 0.0 1,367 1,552 -11.9
Proposals 70 102 72 -31.4 -2.8 1,112 847 31.3
Prince Edward Island 42 74 43 -43.2 -2.3 673 802 -16.1
Bankruptcies 21 41 28 -48.8 -25.0 387 500 -22.6
Proposals 21 33 15 -36.4 40.0 286 302 -5.3
Nova Scotia 372 454 401 -18.1 -7.2 5,724 5,948 -3.8
Bankruptcies 259 280 267 -7.5 -3.0 3,807 4,191 -9.2
Proposals 113 174 134 -35.1 -15.7 1,917 1,757 9.1
New Brunswick 351 366 340 -4.1 3.2 4,361 4,442 -1.8
Bankruptcies 189 192 226 -1.6 -16.4 2,457 2,904 -15.4
Proposals 162 174 114 -6.9 42.1 1,904 1,538 23.8
Quebec 2,898 3,768 2,996 -23.1 -3.3 41,670 43,009 -3.1
Bankruptcies 1,567 1,928 1,729 -18.7 -9.4 22,647 24,241 -6.6
Proposals 1,331 1,840 1,267 -27.7 5.1 19,023 18,768 1.4
Ontario 2,613 3,374 2,732 -22.6 -4.4 38,167 39,611 -3.6
Bankruptcies 1,133 1,261 1,153 -10.2 -1.7 15,336 16,904 -9.3
Proposals 1,480 2,113 1,579 -30.0 -6.3 22,831 22,707 0.5
Manitoba 187 227 181 -17.6 3.3 2,604 2,607 -0.1
Bankruptcies 114 127 93 -10.2 22.6 1,375 1,448 -5.0
Proposals 73 100 88 -27.0 -17.0 1,229 1,159 6.0
Saskatchewan 236 250 251 -5.6 -6.0 3,122 2,960 5.5
Bankruptcies 115 103 121 11.7 -5.0 1,368 1,421 -3.7
Proposals 121 147 130 -17.7 -6.9 1,754 1,539 14.0
Alberta 958 1,125 978 -14.8 -2.0 13,286 13,170 0.9
Bankruptcies 350 403 401 -13.2 -12.7 5,008 5,427 -7.7
Proposals 608 722 577 -15.8 5.4 8,278 7,743 6.9
British Columbia 754 887 707 -15.0 6.6 9,991 10,806 -7.5
Bankruptcies 292 352 324 -17.0 -9.9 4,146 4,719 -12.1
Proposals 462 535 383 -13.6 20.6 5,845 6,087 -4.0
Northwest Territories 8 13 7 -38.5 14.3 80 60 33.3
Bankruptcies 4 9 5 -55.6 -20.0 51 35 45.7
Proposals 4 4 2 0.0 100.0 29 25 16.0
Yukon 5 5 3 0.0 66.7 37 55 -32.7
Bankruptcies 2 0 1 n/a 100.0 18 27 -33.3
Proposals 3 5 2 -40.0 50.0 19 28 -32.1
Nunavut 3 0 0 n/a n/a 4 9 -55.6
Bankruptcies 2 0 0 n/a n/a 2 3 -33.3
Proposals 1 0 0 n/a n/a 2 6 -66.7
Canada 8,591 10,775 8,805 -20.3 -2.4 122,198 125,878 -2.9
Bankruptcies 4,142 4,826 4,442 -14.2 -6.8 57,969 63,372 -8.5
Proposals 4,449 5,949 4,363 -25.2 2.0 64,229 62,506 2.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
December 2017 November 2017 December 2016 Nov. 2017
to
Dec. 2017
Dec. 2016
to
Dec. 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 0 7 2 -100.0 -100.0 36 28 28.6
Bankruptcies 0 5 2 -100.0 -100.0 23 22 4.5
Proposals 0 2 0 -100.0 n/a 13 6 116.7
Prince Edward Island 0 0 1 n/a -100.0 12 13 -7.7
Bankruptcies 0 0 0 n/a n/a 10 7 42.9
Proposals 0 0 1 n/a -100.0 2 6 -66.7
Nova Scotia 3 3 6 0.0 -50.0 49 75 -34.7
Bankruptcies 2 3 4 -33.3 -50.0 43 63 -31.7
Proposals 1 0 2 n/a -50.0 6 12 -50.0
New Brunswick 11 3 4 266.7 175.0 57 59 -3.4
Bankruptcies 3 3 3 0.0 0.0 43 45 -4.4
Proposals 8 0 1 n/a 700.0 14 14 0.0
Quebec 165 178 162 -7.3 1.9 2,061 2,197 -6.2
Bankruptcies 132 124 134 6.5 -1.5 1,563 1,660 -5.8
Proposals 33 54 28 -38.9 17.9 498 537 -7.3
Ontario 74 70 70 5.7 5.7 878 940 -6.6
Bankruptcies 47 46 57 2.2 -17.5 632 691 -8.5
Proposals 27 24 13 12.5 107.7 246 249 -1.2
Manitoba 3 6 9 -50.0 -67.7 39 52 -25.0
Bankruptcies 3 4 4 -25.0 -25.0 33 34 -2.9
Proposals 0 2 5 -100.0 -100.0 6 18 -66.7
Saskatchewan 11 15 11 -26.7 0.0 136 117 16.2
Bankruptcies 9 13 9 -30.8 0.0 104 91 14.3
Proposals 2 2 2 0.0 0.0 32 26 23.1
Alberta 15 20 13 -25.0 15.4 195 168 16.1
Bankruptcies 9 15 10 -40.0 -10.0 131 121 8.3
Proposals 6 5 3 20.0 100.0 64 47 36.2
British Columbia 16 11 25 45.5 -36.0 145 199 -27.1
Bankruptcies 7 9 20 -22.2 -65.0 117 149 -21.5
Proposals 9 2 5 350.0 80.0 28 50 -44.0
Northwest Territoires 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 1 -100.00
Bankruptcies 0 0 0 n/a n/a 0 1 -100.00
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 298 313 303 -4.8 -1.7 3,609 3,849 -6.2
Bankruptcies 212 222 243 -4.5 -12.8 2,700 2,884 -6.4
Proposals 86 91 60 -5.5 43.3 909 965 -5.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
December 2017 November 2017 December 2016 Nov. 2017
to
Dec. 2017
Dec. 2016
to
Dec. 2017
12-31-2017 12-31-2016 % Change
Agriculture, Forestry, Fishing and Hunting 7 9 12 -22.2 -41.7 68 88 -22.7
Bankruptcies 5 3 9 66.7 -44.4 49 62 -21.0
Proposals 2 6 3 -66.7 -33.3 19 26 -26.9
Mining and Oil and Gas Extraction 6 6 15 0.0 -60.0 47 72 -34.7
Bankruptcies 3 5 13 -40.0 -76.9 30 50 -40.0
Proposals 3 1 2 200.0 50.0 17 22 -22.7
Utilities 1 0 3 n/a -66.7 6 9 -33.3
Bankruptcies 1 0 1 n/a 0.0 6 3 100.0
Proposals 0 0 2 n/a -100.0 0 6 -100.0
Construction 59 45 58 31.1 1.7 660 711 -7.2
Bankruptcies 44 28 45 57.1 -2.2 479 520 -7.9
Proposals 15 17 13 -11.8 15.4 181 191 -5.2
Manufacturing 30 36 18 -16.7 66.7 343 299 14.7
Bankruptcies 15 20 13 -25.0 15.4 238 216 10.2
Proposals 15 16 5 -6.3 200.0 105 83 26.5
Wholesale Trade 16 18 13 -11.1 23.1 172 179 -3.9
Bankruptcies 12 11 11 9.1 9.1 122 142 -14.1
Proposals 4 7 2 -42.9 100.0 50 37 35.1
Retail Trade 35 29 32 20.7 9.4 403 454 -11.2
Bankruptcies 33 26 28 26.9 17.9 319 331 -3.6
Proposals 2 3 4 -33.3 -50.0 84 123 -31.7
Transportation and Warehousing 13 16 25 -18.8 -48.0 223 225 -0.9
Bankruptcies 9 12 22 -25.0 -59.1 171 177 -3.4
Proposals 4 4 3 0.0 33.3 52 48 8.3
Information and Cultural Industries 5 4 11 25.0 -54.5 61 71 -14.1
Bankruptcies 5 4 6 25.0 -16.7 46 56 -17.9
Proposals 0 0 5 n/a -100.0 15 15 0.0
Finance and Insurance 5 3 3 66.7 66.7 66 64 3.1
Bankruptcies 4 1 3 300.0 33.3 52 52 0.0
Proposals 1 2 0 -50.0 n/a 14 12 16.7
Real Estate and Rental and Leasing 7 16 8 -56.3 -12.5 136 154 -11.7
Bankruptcies 5 12 6 -58.3 -16.7 98 101 -3.0
Proposals 2 4 2 -50.0 0.0 38 53 -28.3
Professional, Scientific and Technical Services 22 21 25 4.8 -12.0 256 296 -13.5
Bankruptcies 15 16 23 -6.3 -34.8 199 228 -12.7
Proposals 7 5 2 40.0 250.0 57 68 -16.2
Management of Companies and Enterprises 7 15 8 -53.3 -12.5 82 77 6.5
Bankruptcies 5 12 8 -58.3 -37.5 64 55 16.4
Proposals 2 3 0 -33.3 n/a 18 22 -18.2
Administrative and Support, Waste Management and Remediation Services 10 13 22 -23.1 -54.5 150 191 -21.5
Bankruptcies 9 7 16 28.6 -43.8 110 143 -23.1
Proposals 1 6 6 -83.3 -83.3 40 48 -16.7
Educational Services 2 1 1 100.0 100.0 37 32 15.6
Bankruptcies 1 1 1 0.0 0.0 31 20 55.0
Proposals 1 0 0 n/a n/a 6 12 -50.0
Health Care and Social Assistance 10 6 4 66.7 150.0 81 71 14.1
Bankruptcies 6 5 4 20.0 50.0 62 52 19.2
Proposals 4 1 0 300.0 n/a 19 19 0.0
Arts, Entertainment and Recreation 7 9 5 -22.2 40.0 79 80 -1.3
Bankruptcies 6 8 4 -25.0 50.0 59 64 -7.8
Proposals 1 1 1 0.0 0.0 20 16 25.0
Accommodation and Food Services 37 49 31 -24.5 19.4 544 610 -10.8
Bankruptcies 21 36 24 -41.7 -12.5 404 473 -14.6
Proposals 16 13 7 23.1 128.6 140 137 2.2
Other Services (except Public Administration) 19 17 9 11.8 111.1 190 162 17.3
Bankruptcies 13 15 6 -13.3 116.7 157 136 15.4
Proposals 6 2 3 200.0 100.0 33 26 26.9
Public Administration 0 0 0 n/a n/a 5 4 25.0
Bankruptcies 0 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 298 313 303 -4.8 -1.7 3,609 3,849 -6.2
Bankruptcies 212 222 243 -4.5 -12.8 2,700 2,884 -6.4
Proposals 86 91 60 -5.5 43.3 909 965 -5.8
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