NL Consumer Insolvency Trends
Ken Rowan
March 28, 2024
Full site: debtsgo.ca
Data to
February 2024. For data source see notes following.
Newfoundland & Labrador
Monthly Trend
Consumer insolvencies were up 13.5% from January and are up 17.3% year-over-year.
File Growth
Rural vs Urban
Consumer Proposals
CPs represented 78.8% of all February consumer insolvencies, an all-time high.
Cities
Most Active
10-Year Monthly Highs and Lows
New Highs - none
New Lows - none
Monthly Growth
Yearly Growth
St. John’s & Corner Brook
Forward Sortation Areas
NL has 33 FSAs. Those averaging less than 6 monthly consumer insolvencies are filtered out, leaving 12 FSAs.
Most Actives
| FSA | FSA.Place.Name | City | Current.Month | Mean | Current.Month.Over.Mean |
|---|---|---|---|---|---|
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 21 | 13.6 | 154.4% |
| A0A | Southeastern Avalon Peninsula (Ferryland) | Rural Area | 15 | 18.4 | 81.7% |
| A1N | Mount Pearl | Mount Pearl | 15 | 10.2 | 146.5% |
| A1A | St. John’s North | St. John’s | 13 | 8.1 | 159.7% |
| A0B | Western Avalon Peninsula (Argentia) | Rural Area | 11 | 7.6 | 145.4% |
Top % Annual Gainers
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|
| A2H | Corner Brook | Corner Brook | 134 | 51 | 61.4% |
| A0B | Western Avalon Peninsula (Argentia) | Rural Area | 108 | 39 | 56.5% |
| A1L | Paradise | Paradise | 99 | 30 | 43.5% |
| A1N | Mount Pearl | Mount Pearl | 131 | 29 | 28.4% |
| A0K | Northwest Newfoundland/Eastern Labrador (Mary’s Harbour) | Rural Area | 105 | 20 | 23.5% |
Lowest % Annual Gainers
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | 69 | -8 | -10.4% |
| A1X | Conception Bay | Conception Bay | 63 | -7 | -10.0% |
| A0E | Burin Peninsula (Marystown) | Rural Area | 91 | 1 | 1.1% |
| A1A | St. John’s North | St. John’s | 112 | 8 | 7.7% |
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 176 | 16 | 10.0% |
Notes
FSA and Forward Sortation Area are protected terms for the benefit of Canada Post Corporation.
Data source: The Office of the Superintendent of Bankruptcy (“OSB”), Innovation, Science and Economic Development Canada, data sets 2013 to February 2024, https://open.canada.ca/
Consumer bankruptcies and consumer proposals are as defined by the BIA and the OSB. For definitions, see https://open.canada.ca/
Ken Rowan is a retired Licensed Insolvency Trustee and a retired CPA-CA, CA.
Questions or Comments? Email debtsgo.ca