Insolvency Statistics in Canada—January 2018

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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
January 2018 December 2017 January 2017 Dec. 2017
to
Jan. 2018
Jan. 2017
to
Jan. 2018
01-31-2018 01-31-2017 % Change
Newfoundland and Labrador 229 164 186 39.6 23.1 2,558 2,462 3.9
Bankruptcies 108 94 119 14.9 -9.2 1,379 1,583 -12.9
Proposals 121 70 67 72.9 80.6 1,179 879 34.1
Prince Edward Island 45 42 42 7.1 7.1 688 803 -14.3
Bankruptcies 25 21 20 19.0 25.0 402 496 -19.0
Proposals 20 21 22 -4.8 -9.1 286 307 -6.8
Nova Scotia 378 375 415 0.8 -8.9 5,736 6,096 -5.9
Bankruptcies 229 261 280 -12.3 -18.2 3,799 4,284 -11.3
Proposals 149 114 135 30.7 10.4 1,937 1,812 6.9
New Brunswick 279 362 290 -22.9 -3.8 4,407 4,513 -2.3
Bankruptcies 132 192 142 -31.3 -7.0 2,490 2,913 -14.5
Proposals 147 170 148 -13.5 -0.7 1,917 1,600 19.8
Quebec 3,444 3,063 3,191 12.4 7.9 43,984 45,072 -2.4
Bankruptcies 1,705 1,699 1,762 0.4 -3.2 24,153 25,831 -6.5
Proposals 1,739 1,364 1,429 27.5 21.7 19,831 19,241 3.1
Ontario 2,829 2,687 2,933 5.3 -3.5 38,941 40,667 -4.2
Bankruptcies 1,045 1,180 1,105 -11.4 -5.4 15,908 17,571 -9.5
Proposals 1,784 1,507 1,828 18.4 -2.4 23,033 23,096 -0.3
Manitoba 179 190 170 -5.8 5.3 2,652 2,640 0.5
Bankruptcies 76 117 86 -35.0 -11.6 1,398 1,467 -4.7
Proposals 103 73 84 41.1 22.6 1,254 1,173 6.9
Saskatchewan 268 247 242 8.5 10.7 3,284 3,119 5.3
Bankruptcies 96 124 123 -22.6 -22.0 1,445 1,535 -5.9
Proposals 172 123 119 39.8 44.5 1,839 1,584 16.1
Alberta 1,089 973 1,007 11.9 8.1 13,563 13,441 0.9
Bankruptcies 388 359 399 8.1 -2.8 5,128 5,552 -7.6
Proposals 701 614 608 14.2 15.3 8,435 7,889 6.9
British Columbia 823 770 790 6.9 4.2 10,169 10,990 -7.5
Bankruptcies 366 299 351 22.4 4.3 4,278 4,827 -11.4
Proposals 457 471 439 -3.0 4.1 5,891 6,163 -4.4
Northwest Territories 7 8 6 -12.5 16.7 82 65 26.2
Bankruptcies 1 4 1 -75.0 0.0 52 35 48.6
Proposals 6 4 5 50.0 20.0 30 30 0.0
Yukon 3 5 1 -40.0 200.0 39 51 -23.5
Bankruptcies 1 2 0 -50.0 n/a 19 26 -26.9
Proposals 2 3 1 -33.3 100.0 20 25 -20.0
Nunavut 0 3 0 -100.0 n/a 4 8 -50.0
Bankruptcies 0 2 0 -100.0 n/a 2 2 0.0
Proposals 0 1 0 -100.0 n/a 2 6 -66.7
Canada 9,573 8,889 9,273 7.7 3.2 126,107 129,927 -2.9
Bankruptcies 4,172 4,354 4,388 -4.2 -4.9 60,453 66,122 -8.6
Proposals 5,401 4,535 4,885 19.1 10.6 65,654 63,805 2.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
January 2018 December 2017 January 2017 Dec. 2017
to
Jan. 2018
Jan. 2017
to
Jan. 2018
01-31-2018 01-31-2017 % Change
Newfoundland and Labrador 228 164 185 39.0 23.2 2,522 2,434 3.6
Bankruptcies 107 94 119 13.8 -10.1 1,355 1,562 -13.3
Proposals 121 70 66 72.9 83.3 1,167 872 33.8
Prince Edward Island 44 42 41 4.8 7.3 676 789 -14.3
Bankruptcies 24 21 19 14.3 26.3 392 488 -19.7
Proposals 20 21 22 -4.8 -9.1 284 301 -5.6
Nova Scotia 373 372 412 0.3 -9.5 5,685 6,024 -5.6
Bankruptcies 224 259 277 -13.5 -19.1 3,754 4,224 -11.1
Proposals 149 113 135 31.9 10.4 1,931 1,800 7.3
New Brunswick 277 351 288 -21.1 -3.8 4,350 4,455 -2.4
Bankruptcies 130 189 140 -31.2 -7.1 2,447 2,867 -14.6
Proposals 147 162 148 -9.3 -0.7 1,903 1,588 19.8
Quebec 3,283 2,898 3,060 13.3 7.3 41,893 42,911 -2.4
Bankruptcies 1,592 1,567 1,663 1.6 -4.3 22,576 24,203 -6.7
Proposals 1,691 1,331 1,397 27.0 21.0 19,317 18,708 3.3
Ontario 2,760 2,613 2,878 5.6 -4.1 38,049 39,725 -4.2
Bankruptcies 992 1,133 1,065 -12.4 -6.9 15,263 16,882 -9.6
Proposals 1,768 1,480 1,813 19.5 -2.5 22,786 22,843 -0.2
Manitoba 174 187 167 -7.0 4.2 2,611 2,591 0.8
Bankruptcies 71 114 83 -37.7 -14.5 1,363 1,434 -5.0
Proposals 103 73 84 41.1 22.6 1,248 1,157 7.9
Saskatchewan 262 236 235 11.0 11.5 3,149 3,006 4.8
Bankruptcies 94 115 117 -18.3 -19.7 1,345 1,447 -7.0
Proposals 168 121 118 38.8 42.4 1,804 1,559 15.7
Alberta 1,081 958 997 12.8 8.4 13,370 13,272 0.7
Bankruptcies 383 350 391 9.4 -2.0 5,000 5,428 -7.9
Proposals 698 608 606 14.8 15.2 8,370 7,844 6.7
British Columbia 816 754 773 8.2 5.6 10,034 10,797 -7.1
Bankruptcies 362 292 336 24.0 7.7 4,172 4,681 -10.9
Proposals 454 462 437 -1.7 3.9 5,862 6,116 -4.2
Northwest Territories 7 8 6 -12.5 16.7 81 65 24.6
Bankruptcies 1 4 1 -75.0 0.0 51 35 45.7
Proposals 6 4 5 50.0 20.0 30 30 0.0
Yukon 3 5 1 -40.0 200.0 39 51 -23.5
Bankruptcies 1 2 0 -50.0 n/a 19 26 -26.9
Proposals 2 3 1 -33.3 100.0 20 25 -20.0
Nunavut 0 3 0 -100.0 n/a 4 7 -42.9
Bankruptcies 0 2 0 -100.0 n/a 2 1 100.0
Proposals 0 1 0 -100.0 n/a 2 6 -66.7
Canada 9,308 8,591 9,043 8.3 2.9 122,463 126,127 -2.9
Bankruptcies 3,981 4,142 4,211 -3.9 -5.5 57,739 63,278 -8.8
Proposals 5,327 4,449 4,832 19.7 10.2 64,724 62,849 3.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
January 2018 December 2017 January 2017 Dec. 2017
to
Jan. 2018
Jan. 2017
to
Jan. 2018
01-31-2018 01-31-2017 % Change
Newfoundland and Labrador 1 0 1 n/a 0.0 36 28 28.6
Bankruptcies 1 0 0 n/a n/a 24 21 14.3
Proposals 0 0 1 n/a -100.0 12 7 71.4
Prince Edward Island 1 0 1 n/a 0.0 12 14 -14.3
Bankruptcies 1 0 1 n/a 0.0 10 8 25.0
Proposals 0 0 0 n/a n/a 2 6 -66.7
Nova Scotia 5 3 3 66.7 66.7 51 72 -29.2
Bankruptcies 5 2 3 150.0 66.7 45 60 -25.0
Proposals 0 1 0 -100.0 n/a 6 12 -50.0
New Brunswick 2 11 2 -81.8 0.0 57 58 -1.7
Bankruptcies 2 3 2 -33.3 0.0 43 46 -6.5
Proposals 0 8 0 -100.0 n/a 14 12 16.7
Quebec 161 165 131 -2.4 22.9 2,091 2,161 -3.2
Bankruptcies 113 132 99 -14.4 14.1 1,577 1,628 -3.1
Proposals 48 33 32 45.5 50.0 514 533 -3.6
Ontario 69 74 55 -6.8 25.5 892 942 -5.3
Bankruptcies 53 47 40 12.8 32.5 645 689 -6.4
Proposals 16 27 15 -40.7 6.7 247 253 -2.4
Manitoba 5 3 3 66.7 66.7 41 49 -16.3
Bankruptcies 5 3 3 66.7 66.7 35 33 6.1
Proposals 0 0 0 n/a n/a 6 16 -62.5
Saskatchewan 6 11 7 -45.5 -14.3 135 113 19.5
Bankruptcies 2 9 6 -77.8 -66.7 100 88 13.6
Proposals 4 2 1 100.0 300.0 35 25 40.0
Alberta 8 15 10 -46.7 -20.0 193 169 14.2
Bankruptcies 5 9 8 -44.4 -37.5 128 124 3.2
Proposals 3 6 2 -50.0 50.0 65 45 44.4
British Columbia 7 16 17 -56.3 -58.8 135 193 -30.1
Bankruptcies 4 7 15 -42.9 -73.3 106 146 -27.4
Proposals 3 9 2 -66.7 50.0 29 47 -38.3
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 265 298 230 -11.1 15.2 3,644 3,800 -4.1
Bankruptcies 191 212 177 -9.9 7.9 2,714 2,844 -4.6
Proposals 74 86 53 -14.0 39.6 930 956 -2.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
January 2018 December 2017 January 2017 Dec. 2017
to
Jan. 2018
Jan. 2017
to
Jan. 2018
01-31-2018 01-31-2017 % Change
Agriculture, Forestry, Fishing and Hunting 6 7 7 -14.3 -14.3 67 90 -25.6
Bankruptcies 5 5 4 0.0 25.0 50 63 -20.6
Proposals 1 2 3 -50.0 -66.7 17 27 -37.0
Mining and Oil and Gas Extraction 2 6 1 -66.7 100.0 48 70 -31.4
Bankruptcies 0 3 0 -100.0 n/a 30 47 -36.2
Proposals 2 3 1 -33.3 100.0 18 23 -21.7
Utilities 0 1 1 -100.0 -100.0 5 10 -50.0
Bankruptcies 0 1 1 -100.0 -100.0 5 4 25.0
Proposals 0 0 0 n/a n/a 0 6 -100.0
Construction 63 59 44 6.8 43.2 679 704 -3.6
Bankruptcies 42 44 34 -4.5 23.5 487 514 -5.3
Proposals 21 15 10 40.0 110.0 192 190 1.1
Manufacturing 18 30 19 -40.0 -5.3 342 289 18.3
Bankruptcies 10 15 14 -33.3 -28.6 234 208 12.5
Proposals 8 15 5 -46.7 60.0 108 81 33.3
Wholesale Trade 10 16 10 -37.5 0.0 172 180 -4.4
Bankruptcies 8 12 9 -33.3 -11.1 121 144 -16.0
Proposals 2 4 1 -50.0 100.0 51 36 41.7
Retail Trade 39 35 27 11.4 44.4 415 440 -5.7
Bankruptcies 28 33 18 -15.2 55.6 329 319 3.1
Proposals 11 2 9 450.0 22.2 86 121 -28.9
Transportation and Warehousing 16 13 16 23.1 0.0 223 229 -2.6
Bankruptcies 15 9 13 66.7 15.4 173 179 -3.4
Proposals 1 4 3 -75.0 -66.7 50 50 0.0
Information and Cultural Industries 7 5 6 40.0 16.7 62 73 -15.1
Bankruptcies 7 5 5 40.0 40.0 48 58 -17.2
Proposals 0 0 1 n/a -100.0 14 15 -6.7
Finance and Insurance 4 5 3 -20.0 33.3 67 61 9.8
Bankruptcies 3 4 3 -25.0 0.0 52 50 4.0
Proposals 1 1 0 0.0 n/a 15 11 36.4
Real Estate and Rental and Leasing 5 7 7 -28.6 -28.6 134 152 -11.8
Bankruptcies 5 5 4 0.0 25.0 99 97 2.1
Proposals 0 2 3 -100.0 -100.0 35 55 -36.4
Professional, Scientific and Technical Services 18 22 16 -18.2 12.5 258 293 -11.9
Bankruptcies 13 15 13 -13.3 0.0 199 224 -11.2
Proposals 5 7 3 -28.6 66.7 59 69 -14.5
Management of Companies and Enterprises 6 7 4 -14.3 50.0 84 73 15.1
Bankruptcies 5 5 4 0.0 25.0 65 52 25.0
Proposals 1 2 0 -50.0 n/a 19 21 -9.5
Administrative and Support, Waste Management and Remediation Services 7 10 13 -30.0 -46.2 144 189 -23.8
Bankruptcies 4 9 10 -55.6 -60.0 104 142 -26.8
Proposals 3 1 3 200.0 0.0 40 47 -14.9
Educational Services 2 2 0 0.0 n/a 39 32 21.9
Bankruptcies 2 1 0 100.0 n/a 33 20 65.0
Proposals 0 1 0 -100.0 n/a 6 12 -50.0
Health Care and Social Assistance 2 10 4 -80.0 -50.0 79 68 16.2
Bankruptcies 1 6 3 -83.3 -66.7 60 51 17.6
Proposals 1 4 1 -75.0 0.0 19 17 11.8
Arts, Entertainment and Recreation 12 7 4 71.4 200.0 87 78 11.5
Bankruptcies 8 6 3 33.3 166.7 64 61 4.9
Proposals 4 1 1 300.0 300.0 23 17 35.3
Accommodation and Food Services 37 37 37 0.0 0.0 544 598 -9.0
Bankruptcies 27 21 31 28.6 -12.9 400 468 -14.5
Proposals 10 16 6 -37.5 66.7 144 130 10.8
Other Services (except Public Administration) 10 19 11 -47.4 -9.1 189 168 12.5
Bankruptcies 7 13 8 -46.2 -12.5 156 141 10.6
Proposals 3 6 3 -50.0 0.0 33 27 22.2
Public Administration 1 0 0 n/a n/a 6 3 100.0
Bankruptcies 1 0 0 n/a n/a 5 2 150.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 265 298 230 -11.1 15.2 3,644 3,800 -4.1
Bankruptcies 191 212 177 -9.9 7.9 2,714 2,844 -4.6
Proposals 74 86 53 -14.0 39.6 930 956 -2.7
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