Insolvency Statistics in Canada—February 2019

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.

Corporation: A commercial entity or organization.

Individual Business: An individual who has incurred 50% or more of total liabilities as a result of operating a business.

North American Industry Classification System (NAICS): System that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.

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
ProvinceVolume% Change12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-201902-28-2018% Change
Newfoundland and Labrador27121220527.832.22,8752,57911.5
Bankruptcies124848447.647.61,4121,3792.4
Proposals14712812114.821.51,4631,20021.9
Prince Edward Island545766-5.3-18.27356945.9
Bankruptcies273548-22.9-43.8418421-0.7
Proposals27221822.750.031727316.1
Nova Scotia393469471-16.2-16.65,6555,825-2.9
Bankruptcies219266286-17.7-23.43,4863,845-9.3
Proposals174203185-14.3-5.92,1691,9809.5
New Brunswick337348275-3.222.54,6484,4095.4
Bankruptcies152156126-2.620.62,3442,457-4.6
Proposals185192149-3.624.22,3041,95218.0
Quebec3,7013,3763,8499.6-3.843,61544,067-1.0
Bankruptcies1,7701,6391,9898.0-11.022,48224,152-6.9
Proposals1,9311,7371,86011.23.821,13319,9156.1
Ontario3,2843,1993,0202.78.740,42738,8184.1
Bankruptcies1,0691,0641,1520.5-7.215,28415,838-3.5
Proposals2,2152,1351,8683.718.625,14322,9809.4
Manitoba2212181861.418.82,9262,62011.7
Bankruptcies9486859.310.61,4091,3812.0
Proposals127132101-3.825.71,5171,23922.4
Saskatchewan254289217-12.117.13,5563,2519.4
Bankruptcies10311987-13.418.41,3781,435-4.0
Proposals151170130-11.216.22,1781,81619.9
Alberta1,3051,2361,0385.625.715,17513,50812.3
Bankruptcies4794593944.421.65,2435,0873.1
Proposals8267776446.328.39,9328,42117.9
British Columbia789855772-7.72.210,32410,1232.0
Bankruptcies305350347-12.9-12.14,0894,283-4.5
Proposals484505425-4.213.96,2355,8406.8
Northwest Territories836166.733.37686-11.6
Bankruptcies104n/a-75.03855-30.9
Proposals732133.3250.0383122.6
Yukon234-33.3-50.03341-19.5
Bankruptcies1110.00.01319-31.6
Proposals123-50.0-66.72022-9.1
Nunavut200n/an/a5425.0
Bankruptcies000n/an/a02-100.0
Proposals200n/an/a52150.0
Canada10,62110,26510,1093.55.1130,050126,0253.2
Bankruptcies4,3444,2594,6032.0-5.657,59660,354-4.6
Proposals6,2776,0065,5064.514.072,45465,67110.3
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-201902-28-2018% Change
Newfoundland and Labrador26621020426.730.42,8462,54411.9
Bankruptcies119828345.143.41,3871,3562.3
Proposals14712812114.821.51,4591,18822.8
Prince Edward Island545766-5.3-18.27326837.2
Bankruptcies273548-22.9-43.84164121.0
Proposals27221822.750.031627116.6
Nova Scotia387466464-17.0-16.65,6115,768-2.7
Bankruptcies214263281-18.6-23.83,4553,796-9.0
Proposals173203183-14.8-5.52,1561,9729.3
New Brunswick335343272-2.323.24,6094,3506.0
Bankruptcies151152123-0.722.82,3122,412-4.1
Proposals184191149-3.723.52,2971,93818.5
Quebec3,4953,2203,6468.5-4.141,52241,970-1.1
Bankruptcies1,6051,5111,8266.2-12.120,88622,545-7.4
Proposals1,8901,7091,82010.63.820,63619,4256.2
Ontario3,2253,1152,9403.59.739,49637,9314.1
Bankruptcies1,0261,0041,0982.2-6.614,60015,195-3.9
Proposals2,1992,1111,8424.219.424,89622,7369.5
Manitoba2202131843.319.62,8992,58012.4
Bankruptcies93818314.812.01,3841,3472.7
Proposals127132101-3.825.71,5151,23322.9
Saskatchewan246280206-12.119.43,4573,11511.0
Bankruptcies9811381-13.321.01,3161,336-1.5
Proposals148167125-11.418.42,1411,77920.3
Alberta1,2821,2221,0234.925.314,95513,31212.3
Bankruptcies4624503842.720.35,0704,9582.3
Proposals8207726396.228.39,8858,35418.3
British Columbia781841759-7.12.910,2199,9932.3
Bankruptcies302340336-11.2-10.14,0164,182-4.0
Proposals479501423-4.413.26,2035,8116.7
Northwest Territories836166.733.37685-10.6
Bankruptcies104n/a-75.03854-29.6
Proposals732133.3250.0383122.6
Yukon234-33.3-50.03341-19.5
Bankruptcies1110.00.01319-31.6
Proposals123-50.0-66.72022-9.1
Nunavut200n/an/a5425.0
Bankruptcies000n/an/a02-100.0
Proposals200n/an/a52150.0
Canada10,3039,9739,7743.35.4126,460122,3763.3
Bankruptcies4,0994,0324,3481.7-5.754,89357,614-4.7
Proposals6,2045,9415,4264.414.371,56764,76210.5
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-201902-28-2018% Change
Newfoundland and Labrador521150.0400.02935-17.1
Bankruptcies521150.0400.025238.7
Proposals000n/an/a412-66.7
Prince Edward Island000n/an/a311-72.7
Bankruptcies000n/an/a29-77.8
Proposals000n/an/a12-50.0
Nova Scotia637100.0-14.34457-22.8
Bankruptcies53566.70.03149-36.7
Proposals102n/a-50.013862.5
New Brunswick253-60.0-33.33959-33.9
Bankruptcies143-75.0-66.73245-28.9
Proposals1100.0n/a714-50.0
Quebec20615620332.11.52,0932,097-0.2
Bankruptcies16512816328.91.21,5961,607-0.7
Proposals41284046.42.54974901.4
Ontario598480-29.8-26.39318875.0
Bankruptcies436054-28.3-20.46846436.4
Proposals162426-33.3-38.52472441.2
Manitoba152-80.0-50.02740-32.5
Bankruptcies152-80.0-50.02534-26.5
Proposals000n/an/a26-66.7
Saskatchewan8911-11.1-27.399136-27.2
Bankruptcies566-16.7-16.76299-37.4
Proposals3350.0-40.037370.0
Alberta23141564.353.322019612.2
Bankruptcies1791088.970.017312934.1
Proposals65520.020.04767-29.9
British Columbia81413-42.9-38.5105130-19.2
Bankruptcies31011-70.0-72.773101-27.7
Proposals54225.0150.0322910.3
Northwest Territories000n/an/a01-100.0
Bankruptcies000n/an/a01-100.0
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada3182923358.9-5.13,5903,649-1.6
Bankruptcies2452272557.9-3.92,7032,740-1.4
Proposals73658012.3-8.8887909-2.4
Table 3a: Insolvencies Filed by Corporations
ProvinceVolume% Change12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-201902-28-2018% Change
Newfoundland and Labrador120-50.0n/a1420-30.0
Bankruptcies120-50.0n/a10911.1
Proposals000n/an/a411-63.6
Prince Edward Island000n/an/a14-75.0
Bankruptcies000n/an/a12-50.0
Proposals000n/an/a02-100.0
Nova Scotia32050.0n/a251747.1
Bankruptcies2200.0n/a181338.5
Proposals100n/an/a7475.0
New Brunswick122-50.0-50.01937-48.6
Bankruptcies122-50.0-50.01727-37.0
Proposals000n/an/a210-80.0
Quebec18313917931.72.21,8261,875-2.6
Bankruptcies15311714930.82.71,4171,445-1.9
Proposals30223036.40.0409430-4.9
Ontario335231-36.56.554147414.1
Bankruptcies243726-35.1-7.740535115.4
Proposals9155-40.080.013612310.6
Manitoba001n/a-100.049-55.6
Bankruptcies001n/a-100.037-57.1
Proposals000n/an/a12-50.0
Saskatchewan011-100.0-100.0812-33.3
Bankruptcies010-100.0n/a58-37.5
Proposals001n/a-100.034-25.0
Alberta14210600.040.0100121-17.4
Bankruptcies917800.028.678719.9
Proposals513400.066.72250-56.0
British Columbia475-42.9-20.04166-37.9
Bankruptcies135-66.7-80.02246-52.2
Proposals340-25.0n/a1920-5.0
Northwest Territories000n/an/a01-100.0
Bankruptcies000n/an/a01-100.0
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada23920722915.54.42,5792,636-2.2
Bankruptcies19116519015.80.51,9761,980-0.2
Proposals48423914.323.1603656-8.1
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-2019 02-28-2018 % Change
Newfoundland and Labrador401n/a300.015150.0
Bankruptcies401n/a300.015147.1
Proposals000n/an/a01-100.0
Prince Edward Island000n/an/a27-71.4
Bankruptcies000n/an/a17-85.7
Proposals000n/an/a10n/a
Nova Scotia317200.0-57.11940-52.5
Bankruptcies315200.0-40.01336-63.9
Proposals002n/a-100.06450.0
New Brunswick131-66.70.02022-9.1
Bankruptcies021-100.0-100.01518-16.7
Proposals1100.0n/a5425.0
Quebec23172435.3-4.226722220.3
Bankruptcies1211149.1-14.317916210.5
Proposals1161083.310.0886046.7
Ontario263249-18.8-46.9390413-5.6
Bankruptcies192328-17.4-32.1279292-4.5
Proposals7921-22.2-66.7111121-8.3
Manitoba151-80.00.02331-25.8
Bankruptcies151-80.00.02227-18.5
Proposals000n/an/a14-75.0
Saskatchewan88100.0-20.091124-26.6
Bankruptcies5560.0-16.75791-37.4
Proposals3340.0-25.034333.0
Alberta9125-25.080.01207560.0
Bankruptcies8830.0166.7955863.8
Proposals142-75.0-50.0251747.1
British Columbia478-42.9-50.064640.0
Bankruptcies276-71.4-66.75155-7.3
Proposals202n/a0.013944.4
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada7985106-7.1-25.51,0111,013-0.2
Bankruptcies546265-12.9-16.9727760-4.3
Proposals2523418.7-39.028425312.3
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
February
2019
January
2019
February
2018
Jan. 2019
to
Feb. 2019
Feb. 2018
to
Feb. 2019
02-28-201902-28-2018% Change
Agriculture, Forestry, Fishing and Hunting3114-72.7-25.068680.0
Bankruptcies3103-70.00.051510.0
Proposals011-100.0-100.017170.0
Mining and Oil and Gas Extraction250-60.0n/a2945-35.6
Bankruptcies1100.0n/a1728-39.3
Proposals140-75.0n/a1217-29.4
Utilities004n/a-100.049-55.6
Bankruptcies003n/a-100.028-75.0
Proposals001n/a-100.021100.0
Construction59497120.4-16.96976940.4
Bankruptcies48344841.20.05194994.0
Proposals111523-26.7-52.2178195-8.7
Manufacturing2422229.19.1303329-7.9
Bankruptcies1716126.341.72242230.4
Proposals761016.7-30.079106-25.5
Wholesale Trade22813175.069.2164170-3.5
Bankruptcies16612166.733.3123124-0.8
Proposals621200.0500.04146-10.9
Retail Trade36313016.120.04073933.6
Bankruptcies31242529.224.03243143.2
Proposals575-28.60.083795.1
Transportation and Warehousing27212228.622.72402275.7
Bankruptcies1918175.611.81831811.1
Proposals835166.760.0574623.9
Information and Cultural Industries106766.742.965633.2
Bankruptcies75740.00.04753-11.3
Proposals310200.0n/a181080.0
Finance and Insurance75840.0-12.56471-9.9
Bankruptcies5560.0-16.74955-10.9
Proposals202n/a0.01516-6.3
Real Estate and Rental and Leasing62021-70.0-71.41491434.2
Bankruptcies41919-78.9-78.9104111-6.3
Proposals212100.00.0453240.6
Professional, Scientific and Technical Services28232621.77.7256263-2.7
Bankruptcies21142150.00.0191204-6.4
Proposals795-22.240.0655910.2
Management of Companies and Enterprises578-28.6-37.57983-4.8
Bankruptcies466-33.3-33.365641.6
Proposals1120.0-50.01419-26.3
Administrative and Support, Waste Management and Remediation Services16131923.1-15.816014510.3
Bankruptcies1181737.5-35.31071051.9
Proposals5520.0150.0534032.5
Educational Services414300.00.02836-22.2
Bankruptcies302n/a50.02129-27.6
Proposals1120.0-50.0770.0
Health Care and Social Assistance1810-87.5-90.07783-7.2
Bankruptcies166-83.3-83.34862-22.6
Proposals024-100.0-100.0292138.1
Arts, Entertainment and Recreation676-14.30.06388-28.4
Bankruptcies576-28.6-16.75067-25.4
Proposals100n/an/a1321-38.1
Accommodation and Food Services4743499.3-4.1541549-1.5
Bankruptcies384035-5.08.64274016.5
Proposals9314200.0-35.7114148-23.0
Other Services (except Public Administration)15121125.036.41931844.9
Bankruptcies1181037.510.0149156-4.5
Proposals4410.0300.0442857.1
Public Administration000n/an/a36-50.0
Bankruptcies000n/an/a25-60.0
Proposals000n/an/a110.0
Total3182923358.9-5.13,5903,649-1.6
Bankruptcies2452272557.9-3.92,7032,740-1.4
Proposals73658012.3-8.8887909-2.4