Insolvency Statistics in Canada—Fourth Quarter of 2017

Tables

Glossary

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.
Census Metropolitan Area (CMA):
Each area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000. For Statistics Canada's geographical definitions of the CMAs, go to CMA and CA: Detailed definition.
Consumer:
An individual with more than 50% of total liabilities related to consumer goods and services.
Economic Region (ER):
Standard geographical units created for analysis of regional economic activity. For Statistics Canada's geographical definitions of ERs, go to Economic region (ER).
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
Q4 2017 Q3 2017 Q4 2016 Q3 2017
to
Q4 2017
Q4 2016
to
Q4 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 658 599 577 9.8 14.0 2,515 2,427 3.6
Bankruptcies 356 314 362 13.4 -1.7 1,390 1,574 -11.7
Proposals 302 285 215 6.0 40.5 1,125 853 31.9
Prince Edward Island 169 169 196 0.0 -13.8 685 815 -16.0
Bankruptcies 90 100 125 -10.0 -28.0 397 507 -21.7
Proposals 79 69 71 14.5 11.3 288 308 -6.5
Nova Scotia 1,332 1,496 1,465 -11.0 -9.1 5,773 6,023 -4.2
Bankruptcies 853 994 1,035 -14.2 -17.6 3,850 4,254 -9.5
Proposals 479 502 430 -4.6 11.4 1,923 1,769 8.7
New Brunswick 1,104 1,126 1,165 -2.0 -5.2 4,418 4,501 -1.8
Bankruptcies 582 632 741 -7.9 -21.5 2,500 2,949 -15.2
Proposals 522 494 424 5.7 23.1 1,918 1,552 23.6
Quebec 10,861 10,311 10,811 5.3 0.5 43,731 45,206 -3.3
Bankruptcies 5,874 5,823 6,271 0.9 -6.3 24,210 25,901 -6.5
Proposals 4,987 4,488 4,540 11.1 9.8 19,521 19,305 1.1
Ontario 9,480 9,397 9,660 0.9 -1.9 39,045 40,551 -3.7
Bankruptcies 3,881 3,783 4,186 2.6 -7.3 15,968 17,595 -9.2
Proposals 5,599 5,614 5,474 -0.3 2.3 23,077 22,956 0.5
Manitoba 713 644 674 10.7 5.8 2,643 2,659 -0.6
Bankruptcies 403 345 371 16.8 8.6 1,408 1,482 -5.0
Proposals 310 299 303 3.7 2.3 1,235 1,177 4.9
Saskatchewan 818 823 780 -0.6 4.9 3,258 3,077 5.9
Bankruptcies 383 332 376 15.4 1.9 1,472 1,512 -2.6
Proposals 435 491 404 -11.4 7.7 1,786 1,565 14.1
Alberta 3,334 3,331 3,267 0.1 2.1 13,481 13,338 1.1
Bankruptcies 1,238 1,210 1,350 2.3 -8.3 5,139 5,548 -7.4
Proposals 2,096 2,121 1,917 -1.2 9.3 8,342 7,790 7.1
British Columbia 2,446 2,397 2,444 2.0 0.1 10,136 11,005 -7.9
Bankruptcies 958 961 1,056 -0.3 -9.3 4,263 4,868 -12.4
Proposals 1,488 1,436 1,388 3.6 7.2 5,873 6,137 -4.3
Northwest Territories 30 24 17 25.0 76.5 81 60 35.0
Bankruptcies 21 18 12 16.7 75.0 52 35 48.6
Proposals 9 6 5 50.0 80.0 29 25 16.0
Yukon 13 8 9 62.5 44.4 37 55 -32.7
Bankruptcies 5 3 3 66.7 66.7 18 27 -33.3
Proposals 8 5 6 60.0 33.3 19 28 -32.1
Nunavut 4 0 2 n/a 100.0 4 10 -60.0
Bankruptcies 2 0 0 n/a n/a 2 4 -50.0
Proposals 2 0 2 n/a 0.0 2 6 -66.7
Canada 30,962 30,325 31,067 2.1 -0.3 125,807 129,727 -3.0
Bankruptcies 14,646 14,515 15,888 0.9 -7.8 60,669 66,256 -8.4
Proposals 16,316 15,810 15,179 3.2 7.5 65,138 63,471 2.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2017 Q3 2017 Q4 2016 Q3 2017
to
Q4 2017
Q4 2016
to
Q4 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 648 592 567 9.5 14.3 2,479 2,399 3.3
Bankruptcies 351 308 353 14.0 -0.6 1,367 1,552 -11.9
Proposals 297 284 214 4.6 38.8 1,112 847 31.3
Prince Edward Island 169 167 195 1.2 -13.3 673 802 -16.1
Bankruptcies 90 98 125 -8.2 -28.0 387 500 -22.6
Proposals 79 69 70 14.5 12.9 286 302 -5.3
Nova Scotia 1,322 1,479 1,447 -10.6 -8.6 5,724 5,948 -3.8
Bankruptcies 845 980 1,022 -13.8 -17.3 3,807 4,191 -9.2
Proposals 477 499 425 -4.4 12.2 1,917 1,757 9.1
New Brunswick 1,084 1,120 1,152 -3.2 -5.9 4,361 4,442 -1.8
Bankruptcies 571 626 730 -8.8 -21.8 2,457 2,904 -15.4
Proposals 513 494 422 3.8 21.6 1,904 1,538 23.8
Quebec 10,330 9,871 10,285 4.6 0.4 41,670 43,009 -3.1
Bankruptcies 5,473 5,495 5,871 -0.4 -6.8 22,647 24,241 -6.6
Proposals 4,857 4,376 4,414 11.0 10.0 19,023 18,768 1.4
Ontario 9,251 9,182 9,435 0.8 -2.0 38,167 39,611 -3.6
Bankruptcies 3,721 3,626 4,023 2.6 -7.5 15,336 16,904 -9.3
Proposals 5,530 5,556 5,412 -0.5 2.2 22,831 22,707 0.5
Manitoba 703 637 660 10.4 6.5 2,604 2,607 -0.1
Bankruptcies 395 341 364 15.8 8.5 1,375 1,448 -5.0
Proposals 308 296 296 4.1 4.1 1,229 1,159 6.0
Saskatchewan 775 801 752 -3.2 3.1 3,122 2,960 5.5
Bankruptcies 347 314 354 10.5 -2.0 1,368 1,421 -3.7
Proposals 428 487 398 -12.1 7.5 1,754 1,539 14.0
Alberta 3,282 3,283 3,204 0.0 2.4 13,286 13,170 0.9
Bankruptcies 1,203 1,182 1,306 1.8 -7.9 5,008 5,427 -7.7
Proposals 2,079 2,101 1,898 -1.0 9.5 8,278 7,743 6.9
British Columbia 2,414 2,371 2,398 1.8 0.7 9,991 10,806 -7.5
Bankruptcies 938 939 1,022 -0.1 -8.2 4,146 4,719 -12.1
Proposals 1,476 1,432 1,376 3.1 7.3 5,845 6,087 -4.0
Northwest Territories 30 24 17 25.0 76.5 80 60 33.3
Bankruptcies 21 18 12 16.7 75.0 51 35 45.7
Proposals 9 6 5 50.0 80.0 29 25 16.0
Yukon 13 8 9 62.5 44.4 37 55 -32.7
Bankruptcies 5 3 3 66.7 66.7 18 27 -33.3
Proposals 8 5 6 60.0 33.3 19 28 -32.1
Nunavut 4 0 2 n/a 100.0 4 9 -55.6
Bankruptcies 2 0 0 n/a n/a 2 3 -33.3
Proposals 2 0 2 n/a 0.0 2 6 -66.7
Canada 30,025 29,535 30,123 1.7 -0.3 122,198 125,878 -2.9
Bankruptcies 13,962 13,930 15,185 0.2 -8.1 57,969 63,372 -8.5
Proposals 16,063 15,605 14,938 2.9 7.5 64,229 62,506 2.8
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2017 Q3 2017 Q4 2016 Q3 2017
to
Q4 2017
Q4 2016
to
Q4 2017
12-31-2017 12-31-2016 % Change
Newfoundland and Labrador 10 7 10 42.9 0.0 36 28 28.6
Bankruptcies 5 6 9 -16.7 -44.4 23 22 4.5
Proposals 5 1 1 400.0 400.0 13 6 116.7
Prince Edward Island 0 2 1 -100.0 -100.0 12 13 -7.7
Bankruptcies 0 2 0 -100.0 n/a 10 7 42.9
Proposals 0 0 1 n/a -100.0 2 6 -66.7
Nova Scotia 10 17 18 -41.2 -44.4 49 75 -34.7
Bankruptcies 8 14 13 -42.9 -38.5 43 63 -31.7
Proposals 2 3 5 -33.3 -60.0 6 12 -50.0
New Brunswick 20 6 13 233.3 53.8 57 59 -3.4
Bankruptcies 11 6 11 83.3 0.0 43 45 -4.4
Proposals 9 0 2 n/a 350.0 14 14 0.0
Quebec 531 440 526 20.7 1.0 2,061 2,197 -6.2
Bankruptcies 401 328 400 22.3 0.2 1,563 1,660 -5.8
Proposals 130 112 126 16.1 3.2 498 537 -7.3
Ontario 229 215 225 6.5 1.8 878 940 -6.6
Bankruptcies 160 157 163 1.9 -1.8 632 691 -8.5
Proposals 69 58 62 19.0 11.3 246 249 -1.2
Manitoba 10 7 14 42.9 -28.6 39 52 -25.0
Bankruptcies 8 4 7 100.0 14.3 33 34 -2.9
Proposals 2 3 7 -33.3 -71.4 6 18 -66.7
Saskatchewan 43 22 28 95.5 53.6 136 117 16.2
Bankruptcies 36 18 22 100.0 63.6 104 91 14.3
Proposals 7 4 6 75.0 16.7 32 26 23.1
Alberta 52 48 63 8.3 -17.5 195 168 16.1
Bankruptcies 35 28 44 25.0 -20.5 131 121 8.3
Proposals 17 20 19 -15.0 -10.5 64 47 36.2
British Columbia 32 26 46 23.1 -30.4 145 199 -27.1
Bankruptcies 20 22 34 -9.1 -41.2 117 149 -21.5
Proposals 12 4 12 200.0 0.0 28 50 -44.0
Northwest Territories 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 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 937 790 944 18.6 -0.7 3,609 3,849 -6.2
Bankruptcies 684 585 703 16.9 -2.7 2,700 2,884 -6.4
Proposals 253 205 241 23.4 5.0 909 965 -5.8
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