Insolvency Statistics in Canada—January 2019

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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.

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
Province Volume % Change 12-Month Period Ending
January
2019
December
2018
January
2018
Dec. 2018
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Newfoundland and Labrador 212 193 229 9.8 -7.4 2,809 2,558 9.8
Bankruptcies 84 103 108 -18.4 -22.2 1,372 1,379 -0.5
Proposals 128 90 121 42.2 5.8 1,437 1,179 21.9
Prince Edward Island 57 62 45 -8.1 26.7 747 688 8.6
Bankruptcies 35 34 25 2.9 40.0 439 402 9.2
Proposals 22 28 20 -21.4 10.0 308 286 7.7
Nova Scotia 469 387 378 21.2 24.1 5,733 5,736 -0.1
Bankruptcies 266 241 229 10.4 16.2 3,553 3,799 -6.5
Proposals 203 146 149 39.0 36.2 2,180 1,937 12.5
New Brunswick 348 338 279 3.0 24.7 4,586 4,407 4.1
Bankruptcies 156 179 132 -12.8 18.2 2,318 2,490 -6.9
Proposals 192 159 147 20.8 30.6 2,268 1,917 18.3
Quebec 3,376 2,870 3,444 17.6 -2.0 43,763 43,984 -0.5
Bankruptcies 1,639 1,554 1,705 5.5 -3.9 22,701 24,153 -6.0
Proposals 1,737 1,316 1,739 32.0 -0.1 21,062 19,831 6.2
Ontario 3,199 2,998 2,829 6.7 13.1 40,163 38,941 3.1
Bankruptcies 1,064 1,131 1,045 -5.9 1.8 15,367 15,908 -3.4
Proposals 2,135 1,867 1,784 14.4 19.7 24,796 23,033 7.7
Manitoba 218 220 179 -0.9 21.8 2,891 2,652 9.0
Bankruptcies 86 90 76 -4.4 13.2 1,400 1,398 0.1
Proposals 132 130 103 1.5 28.2 1,491 1,254 18.9
Saskatchewan 289 252 268 14.7 7.8 3,519 3,284 7.2
Bankruptcies 119 108 96 10.2 24.0 1,362 1,445 -5.7
Proposals 170 144 172 18.1 -1.2 2,157 1,839 17.3
Alberta 1,236 1,109 1,089 11.5 13.5 14,908 13,563 9.9
Bankruptcies 459 363 388 26.4 18.3 5,158 5,128 0.6
Proposals 777 746 701 4.2 10.8 9,750 8,435 15.6
British Columbia 855 786 823 8.8 3.9 10,307 10,169 1.4
Bankruptcies 350 278 366 25.9 -4.4 4,131 4,278 -3.4
Proposals 505 508 457 -0.6 10.5 6,176 5,891 4.8
Northwest Territories 3 4 7 -25.0 -57.1 74 82 -9.8
Bankruptcies 0 4 1 -100.0 -100.0 41 52 -21.2
Proposals 3 0 6 n/a -50.0 33 30 10.0
Yukon 3 6 3 -50.0 0.0 35 39 -10.3
Bankruptcies 1 2 1 -50.0 0.0 13 19 -31.6
Proposals 2 4 2 -50.0 0.0 22 20 10.0
Nunavut 0 0 0 n/a n/a 3 4 -25.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Canada 10,265 9,225 9,573 11.3 7.2 129,538 126,107 2.7
Bankruptcies 4,259 4,087 4,172 4.2 2.1 57,855 60,453 -4.3
Proposals 6,006 5,138 5,401 16.9 11.2 71,683 65,654 9.2
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
January
2019
December
2018
January
2018
Dec. 2018
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Newfoundland and Labrador 210 190 228 10.5 -7.9 2,784 2,522 10.4
Bankruptcies 82 101 107 -18.8 -23.4 1,351 1,355 -0.3
Proposals 128 89 121 43.8 5.8 1,433 1,167 22.8
Prince Edward Island 57 62 44 -8.1 29.5 744 676 10.1
Bankruptcies 35 34 24 2.9 45.8 437 392 11.5
Proposals 22 28 20 -21.4 10.0 307 284 8.1
Nova Scotia 466 386 373 20.7 24.9 5,688 5,685 0.1
Bankruptcies 263 240 224 9.6 17.4 3,522 3,754 -6.2
Proposals 203 146 149 39.0 36.2 2,166 1,931 12.2
New Brunswick 343 337 277 1.8 23.8 4,546 4,350 4.5
Bankruptcies 152 178 130 -14.6 16.9 2,284 2,447 -6.7
Proposals 191 159 147 20.1 29.9 2,262 1,903 18.9
Quebec 3,220 2,687 3,283 19.8 -1.9 41,673 41,893 -0.5
Bankruptcies 1,511 1,401 1,592 7.9 -5.1 21,107 22,576 -6.5
Proposals 1,709 1,286 1,691 32.9 1.1 20,566 19,317 6.5
Ontario 3,115 2,933 2,760 6.2 12.9 39,211 38,049 3.1
Bankruptcies 1,004 1,083 992 -7.3 1.2 14,672 15,263 -3.9
Proposals 2,111 1,850 1,768 14.1 19.4 24,539 22,786 7.7
Manitoba 213 219 174 -2.7 22.4 2,863 2,611 9.7
Bankruptcies 81 89 71 -9.0 14.1 1,374 1,363 0.8
Proposals 132 130 103 1.5 28.2 1,489 1,248 19.3
Saskatchewan 280 249 262 12.4 6.9 3,417 3,149 8.5
Bankruptcies 113 105 94 7.6 20.2 1,299 1,345 -3.4
Proposals 167 144 168 16.0 -0.6 2,118 1,804 17.4
Alberta 1,222 1,086 1,081 12.5 13.0 14,696 13,370 9.9
Bankruptcies 450 342 383 31.6 17.5 4,992 5,000 -0.2
Proposals 772 744 698 3.8 10.6 9,704 8,370 15.9
British Columbia 841 780 816 7.8 3.1 10,197 10,034 1.6
Bankruptcies 340 273 362 24.5 -6.1 4,050 4,172 -2.9
Proposals 501 507 454 -1.2 10.4 6,147 5,862 4.9
Northwest Territories 3 4 7 -25.0 -57.1 74 81 -8.6
Bankruptcies 0 4 1 -100.0 -100.0 41 51 -19.6
Proposals 3 0 6 n/a -50.0 33 30 10.0
Yukon 3 6 3 -50.0 0.0 35 39 -10.3
Bankruptcies 1 2 1 -50.0 0.0 13 19 -31.6
Proposals 2 4 2 -50.0 0.0 22 20 10.0
Nunavut 0 0 0 n/a n/a 3 4 -25.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Canada 9,973 8,939 9,308 11.6 7.1 125,931 122,463 2.8
Bankruptcies 4,032 3,852 3,981 4.7 1.3 55,142 57,739 -4.5
Proposals 5,941 5,087 5,327 16.8 11.5 70,789 64,724 9.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
January
2019
December
2018
January
2018
Dec. 2018
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Newfoundland and Labrador 2 3 1 -33.3 100.0 25 36 -30.6
Bankruptcies 2 2 1 0.0 100.0 21 24 -12.5
Proposals 0 1 0 -100.0 n/a 4 12 -66.7
Prince Edward Island 0 0 1 n/a -100.0 3 12 -75.0
Bankruptcies 0 0 1 n/a -100.0 2 10 -80.0
Proposals 0 0 0 n/a n/a 1 2 -50.0
Nova Scotia 3 1 5 200.0 -40.0 45 51 -11.8
Bankruptcies 3 1 5 200.0 -40.0 31 45 -31.1
Proposals 0 0 0 n/a n/a 14 6 133.3
New Brunswick 5 1 2 400.0 150.0 40 57 -29.8
Bankruptcies 4 1 2 300.0 100.0 34 43 -20.9
Proposals 1 0 0 n/a n/a 6 14 -57.1
Quebec 156 183 161 -14.8 -3.1 2,090 2,091 0.0
Bankruptcies 128 153 113 -16.3 13.3 1,594 1,577 1.1
Proposals 28 30 48 -6.7 -41.7 496 514 -3.5
Ontario 84 65 69 29.2 21.7 952 892 6.7
Bankruptcies 60 48 53 25.0 13.2 695 645 7.8
Proposals 24 17 16 41.2 50.0 257 247 4.0
Manitoba 5 1 5 400.0 0.0 28 41 -31.7
Bankruptcies 5 1 5 400.0 0.0 26 35 -25.7
Proposals 0 0 0 n/a n/a 2 6 -66.7
Saskatchewan 9 3 6 200.0 50.0 102 135 -24.4
Bankruptcies 6 3 2 100.0 200.0 63 100 -37.0
Proposals 3 0 4 n/a -25.0 39 35 11.4
Alberta 14 23 8 -39.1 75.0 212 193 9.8
Bankruptcies 9 21 5 -57.1 80.0 166 128 29.7
Proposals 5 2 3 150.0 66.7 46 65 -29.2
British Columbia 14 6 7 133.3 100.0 110 135 -18.5
Bankruptcies 10 5 4 100.0 150.0 81 106 -23.6
Proposals 4 1 3 300.0 33.3 29 29 0.0
Northwest Territories 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
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 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
Canada 292 286 265 2.1 10.2 3,607 3,644 -1.0
Bankruptcies 227 235 191 -3.4 18.8 2,713 2,714 0.0
Proposals 65 51 74 27.5 -12.2 894 930 -3.9
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
January
2019
December
2019
January
2018
Dec. 2019
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Newfoundland and Labrador 2 1 0 100.0 n/a 13 20 -35.0
Bankruptcies 2 0 0 n/a n/a 9 9 0.0
Proposals 0 1 0 -100.0 n/a 4 11 -63.6
Prince Edward Island 0 0 0 n/a n/a 1 4 -75.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 2 -100.0
Nova Scotia 2 1 4 100.0 -50.0 22 18 22.2
Bankruptcies 2 1 4 100.0 -50.0 16 14 14.3
Proposals 0 0 0 n/a n/a 6 4 50.0
New Brunswick 2 1 2 100.0 0.0 20 36 -44.4
Bankruptcies 2 1 2 100.0 0.0 18 26 -30.8
Proposals 0 0 0 n/a n/a 2 10 -80.0
Quebec 139 156 148 -10.9 -6.1 1,822 1,871 -2.6
Bankruptcies 117 131 105 -10.7 11.4 1,413 1,414 -0.1
Proposals 22 25 43 -12.0 -48.8 409 457 -10.5
Ontario 52 34 36 52.9 44.4 539 495 8.9
Bankruptcies 37 23 27 60.9 37.0 407 358 13.7
Proposals 15 11 9 36.4 66.7 132 137 -3.6
Manitoba 0 0 1 n/a -100.0 5 8 -37.5
Bankruptcies 0 0 1 n/a -100.0 4 6 -33.3
Proposals 0 0 0 n/a n/a 1 2 -50.0
Saskatchewan 1 0 0 n/a n/a 9 12 -25.0
Bankruptcies 1 0 0 n/a n/a 5 9 -44.4
Proposals 0 0 0 n/a n/a 4 3 33.3
Alberta 2 11 5 -81.8 -60.0 96 119 -19.3
Bankruptcies 1 10 2 -90.0 -50.0 76 70 8.6
Proposals 1 1 3 0.0 -66.7 20 49 -59.2
British Columbia 7 2 2 250.0 250.0 42 69 -39.1
Bankruptcies 3 2 1 50.0 200.0 26 48 -45.8
Proposals 4 0 1 n/a 300.0 16 21 -23.8
Northwest Territories 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
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 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
Canada 207 206 198 0.5 4.5 2,569 2,653 -3.2
Bankruptcies 165 168 142 -1.8 16.2 1,975 1,957 0.9
Proposals 42 38 56 10.5 -25.0 594 696 -14.7
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
January 2019 December 2019 January 2018 Dec. 2019
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Newfoundland and Labrador 0 2 1 -100.0 -100.0 12 16 -25.0
Bankruptcies 0 2 1 -100.0 -100.0 12 15 -20.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 0 0 1 n/a -100.0 2 8 -75.0
Bankruptcies 0 0 1 n/a -100.0 1 8 -87.5
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 1 0 1 n/a 0.0 23 33 -30.3
Bankruptcies 1 0 1 n/a 0.0 15 31 -51.6
Proposals 0 0 0 n/a n/a 8 2 300.0
New Brunswick 3 0 0 n/a n/a 20 21 -4.8
Bankruptcies 2 0 0 n/a n/a 16 17 -5.9
Proposals 1 0 0 n/a n/a 4 4 0.0
Quebec 17 27 13 -37.0 30.8 268 220 21.8
Bankruptcies 11 22 8 -50.0 37.5 181 163 11.0
Proposals 6 5 5 20.0 20.0 87 57 52.6
Ontario 32 31 33 3.2 -3.0 413 397 4.0
Bankruptcies 23 25 26 -8.0 -11.5 288 287 0.3
Proposals 9 6 7 50.0 28.6 125 110 13.6
Manitoba 5 1 4 400.0 25.0 23 33 -30.3
Bankruptcies 5 1 4 400.0 25.0 22 29 -24.1
Proposals 0 0 0 n/a n/a 1 4 -75.0
Saskatchewan 8 3 6 166.7 33.3 93 123 -24.4
Bankruptcies 5 3 2 66.7 150.0 58 91 -36.3
Proposals 3 0 4 n/a -25.0 35 32 9.4
Alberta 12 12 3 0.0 300.0 116 74 56.8
Bankruptcies 8 11 3 -27.3 166.7 90 58 55.2
Proposals 4 1 0 300.0 n/a 26 16 62.5
British Columbia 7 4 5 75.0 40.0 68 66 3.0
Bankruptcies 7 3 3 133.3 133.3 55 58 -5.2
Proposals 0 1 2 -100.0 -100.0 13 8 62.5
Northwest Territories 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
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 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
Canada 85 80 67 6.3 26.9 1,038 991 4.7
Bankruptcies 62 67 49 -7.5 26.5 738 757 -2.5
Proposals 23 13 18 76.9 27.8 300 234 28.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
December 2018 December 2018 January 2018 Dec. 2018
to
Jan. 2019
Jan. 2018
to
Jan. 2019
01-31-2019 01-31-2018 % Change
Agriculture, Forestry, Fishing and Hunting 11 7 6 57.1 83.3 69 67 3.0
Bankruptcies 10 5 5 100.0 100.0 51 50 2.0
Proposals 1 2 1 -50.0 0.0 18 17 5.9
Mining and Oil and Gas Extraction 5 6 2 -16.7 150.0 27 48 -43.8
Bankruptcies 1 5 0 -80.0 n/a 16 30 -46.7
Proposals 4 1 2 300.0 100.0 11 18 -38.9
Utilities 0 1 0 -100.0 n/a 8 5 60.0
Bankruptcies 0 1 0 -100.0 n/a 5 5 0.0
Proposals 0 0 0 n/a n/a 3 0 n/a
Construction 49 52 63 -5.8 -22.2 709 679 4.4
Bankruptcies 34 46 42 -26.1 -19.0 519 487 6.6
Proposals 15 6 21 150.0 -28.6 190 192 -1.0
Manufacturing 22 27 18 -18.5 22.2 301 342 -12.0
Bankruptcies 16 21 10 -23.8 60.0 219 234 -6.4
Proposals 6 6 8 0.0 -25.0 82 108 -24.1
Wholesale Trade 8 14 10 -42.9 -20.0 155 172 -9.9
Bankruptcies 6 10 8 -40.0 -25.0 119 121 -1.7
Proposals 2 4 2 -50.0 0.0 36 51 -29.4
Retail Trade 31 27 39 14.8 -20.5 401 415 -3.4
Bankruptcies 24 24 28 0.0 -14.3 318 329 -3.3
Proposals 7 3 11 133.3 -36.4 83 86 -3.5
Transportation and Warehousing 21 10 16 110.0 31.3 235 223 5.4
Bankruptcies 18 10 15 80.0 20.0 181 173 4.6
Proposals 3 0 1 n/a 200.0 54 50 8.0
Information and Cultural Industries 6 4 7 50.0 -14.3 62 62 0.0
Bankruptcies 5 3 7 66.7 -28.6 47 48 -2.1
Proposals 1 1 0 0.0 n/a 15 14 7.1
Finance and Insurance 5 4 4 25.0 25.0 65 67 -3.0
Bankruptcies 5 4 3 25.0 66.7 50 52 -3.8
Proposals 0 0 1 n/a -100.0 15 15 0.0
Real Estate and Rental and Leasing 20 8 5 150.0 300.0 164 134 22.4
Bankruptcies 19 7 5 171.4 280.0 119 99 20.2
Proposals 1 1 0 0.0 n/a 45 35 28.6
Professional, Scientific and Technical Services 23 17 18 35.3 27.8 254 258 -1.6
Bankruptcies 14 13 13 7.7 7.7 191 199 -4.0
Proposals 9 4 5 125.0 80.0 63 59 6.8
Management of Companies and Enterprises 7 10 6 -30.0 16.7 82 84 -2.4
Bankruptcies 6 6 5 0.0 20.0 67 65 3.1
Proposals 1 4 1 -75.0 0.0 15 19 -21.1
Administrative and Support, Waste Management and Remediation Services 13 8 7 62.5 85.7 163 144 13.2
Bankruptcies 8 7 4 14.3 100.0 113 104 8.7
Proposals 5 1 3 400.0 66.7 50 40 25.0
Educational Services 1 2 2 -50.0 -50.0 28 39 -28.2
Bankruptcies 0 2 2 -100.0 -100.0 20 33 -39.4
Proposals 1 0 0 n/a n/a 8 6 33.3
Health Care and Social Assistance 8 6 2 33.3 300.0 86 79 8.9
Bankruptcies 6 2 1 200.0 500.0 53 60 -11.7
Proposals 2 4 1 -50.0 100.0 33 19 73.7
Arts, Entertainment and Recreation 7 4 12 75.0 -41.7 63 87 -27.6
Bankruptcies 7 4 8 75.0 -12.5 51 64 -20.3
Proposals 0 0 4 n/a -100.0 12 23 -47.8
Accommodation and Food Services 43 53 37 -18.9 16.2 543 544 -0.2
Bankruptcies 40 43 27 -7.0 48.1 424 400 6.0
Proposals 3 10 10 -70.0 -70.0 119 144 -17.4
Other Services (except Public Administration) 12 25 10 -52.0 20.0 189 189 0.0
Bankruptcies 8 21 7 -61.9 14.3 148 156 -5.1
Proposals 4 4 3 0.0 33.3 41 33 24.2
Public Administration 0 1 1 -100.0 -100.0 3 6 -50.0
Bankruptcies 0 1 1 -100.0 -100.0 2 5 -60.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 292 286 265 2.1 10.2 3,607 3,644 -1.0
Bankruptcies 227 235 191 -3.4 18.8 2,713 2,714 0.0
Proposals 65 51 74 27.5 -12.2 894 930 -3.9
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