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
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 Labrador 271 212 205 27.8 32.2 2,875 2,579 11.5
Bankruptcies 124 84 84 47.6 47.6 1,412 1,379 2.4
Proposals 147 128 121 14.8 21.5 1,463 1,200 21.9
Prince Edward Island 54 57 66 -5.3 -18.2 735 694 5.9
Bankruptcies 27 35 48 -22.9 -43.8 418 421 -0.7
Proposals 27 22 18 22.7 50.0 317 273 16.1
Nova Scotia 393 469 471 -16.2 -16.6 5,655 5,825 -2.9
Bankruptcies 219 266 286 -17.7 -23.4 3,486 3,845 -9.3
Proposals 174 203 185 -14.3 -5.9 2,169 1,980 9.5
New Brunswick 337 348 275 -3.2 22.5 4,648 4,409 5.4
Bankruptcies 152 156 126 -2.6 20.6 2,344 2,457 -4.6
Proposals 185 192 149 -3.6 24.2 2,304 1,952 18.0
Quebec 3,701 3,376 3,849 9.6 -3.8 43,615 44,067 -1.0
Bankruptcies 1,770 1,639 1,989 8.0 -11.0 22,482 24,152 -6.9
Proposals 1,931 1,737 1,860 11.2 3.8 21,133 19,915 6.1
Ontario 3,284 3,199 3,020 2.7 8.7 40,427 38,818 4.1
Bankruptcies 1,069 1,064 1,152 0.5 -7.2 15,284 15,838 -3.5
Proposals 2,215 2,135 1,868 3.7 18.6 25,143 22,980 9.4
Manitoba 221 218 186 1.4 18.8 2,926 2,620 11.7
Bankruptcies 94 86 85 9.3 10.6 1,409 1,381 2.0
Proposals 127 132 101 -3.8 25.7 1,517 1,239 22.4
Saskatchewan 254 289 217 -12.1 17.1 3,556 3,251 9.4
Bankruptcies 103 119 87 -13.4 18.4 1,378 1,435 -4.0
Proposals 151 170 130 -11.2 16.2 2,178 1,816 19.9
Alberta 1,305 1,236 1,038 5.6 25.7 15,175 13,508 12.3
Bankruptcies 479 459 394 4.4 21.6 5,243 5,087 3.1
Proposals 826 777 644 6.3 28.3 9,932 8,421 17.9
British Columbia 789 855 772 -7.7 2.2 10,324 10,123 2.0
Bankruptcies 305 350 347 -12.9 -12.1 4,089 4,283 -4.5
Proposals 484 505 425 -4.2 13.9 6,235 5,840 6.8
Northwest Territories 8 3 6 166.7 33.3 76 86 -11.6
Bankruptcies 1 0 4 n/a -75.0 38 55 -30.9
Proposals 7 3 2 133.3 250.0 38 31 22.6
Yukon 2 3 4 -33.3 -50.0 33 41 -19.5
Bankruptcies 1 1 1 0.0 0.0 13 19 -31.6
Proposals 1 2 3 -50.0 -66.7 20 22 -9.1
Nunavut 2 0 0 n/a n/a 5 4 25.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 2 0 0 n/a n/a 5 2 150.0
Canada 10,621 10,265 10,109 3.5 5.1 130,050 126,025 3.2
Bankruptcies 4,344 4,259 4,603 2.0 -5.6 57,596 60,354 -4.6
Proposals 6,277 6,006 5,506 4.5 14.0 72,454 65,671 10.3
Table 2: Insolvencies Filed by Consumers
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 Labrador 266 210 204 26.7 30.4 2,846 2,544 11.9
Bankruptcies 119 82 83 45.1 43.4 1,387 1,356 2.3
Proposals 147 128 121 14.8 21.5 1,459 1,188 22.8
Prince Edward Island 54 57 66 -5.3 -18.2 732 683 7.2
Bankruptcies 27 35 48 -22.9 -43.8 416 412 1.0
Proposals 27 22 18 22.7 50.0 316 271 16.6
Nova Scotia 387 466 464 -17.0 -16.6 5,611 5,768 -2.7
Bankruptcies 214 263 281 -18.6 -23.8 3,455 3,796 -9.0
Proposals 173 203 183 -14.8 -5.5 2,156 1,972 9.3
New Brunswick 335 343 272 -2.3 23.2 4,609 4,350 6.0
Bankruptcies 151 152 123 -0.7 22.8 2,312 2,412 -4.1
Proposals 184 191 149 -3.7 23.5 2,297 1,938 18.5
Quebec 3,495 3,220 3,646 8.5 -4.1 41,522 41,970 -1.1
Bankruptcies 1,605 1,511 1,826 6.2 -12.1 20,886 22,545 -7.4
Proposals 1,890 1,709 1,820 10.6 3.8 20,636 19,425 6.2
Ontario 3,225 3,115 2,940 3.5 9.7 39,496 37,931 4.1
Bankruptcies 1,026 1,004 1,098 2.2 -6.6 14,600 15,195 -3.9
Proposals 2,199 2,111 1,842 4.2 19.4 24,896 22,736 9.5
Manitoba 220 213 184 3.3 19.6 2,899 2,580 12.4
Bankruptcies 93 81 83 14.8 12.0 1,384 1,347 2.7
Proposals 127 132 101 -3.8 25.7 1,515 1,233 22.9
Saskatchewan 246 280 206 -12.1 19.4 3,457 3,115 11.0
Bankruptcies 98 113 81 -13.3 21.0 1,316 1,336 -1.5
Proposals 148 167 125 -11.4 18.4 2,141 1,779 20.3
Alberta 1,282 1,222 1,023 4.9 25.3 14,955 13,312 12.3
Bankruptcies 462 450 384 2.7 20.3 5,070 4,958 2.3
Proposals 820 772 639 6.2 28.3 9,885 8,354 18.3
British Columbia 781 841 759 -7.1 2.9 10,219 9,993 2.3
Bankruptcies 302 340 336 -11.2 -10.1 4,016 4,182 -4.0
Proposals 479 501 423 -4.4 13.2 6,203 5,811 6.7
Northwest Territories 8 3 6 166.7 33.3 76 85 -10.6
Bankruptcies 1 0 4 n/a -75.0 38 54 -29.6
Proposals 7 3 2 133.3 250.0 38 31 22.6
Yukon 2 3 4 -33.3 -50.0 33 41 -19.5
Bankruptcies 1 1 1 0.0 0.0 13 19 -31.6
Proposals 1 2 3 -50.0 -66.7 20 22 -9.1
Nunavut 2 0 0 n/a n/a 5 4 25.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 2 0 0 n/a n/a 5 2 150.0
Canada 10,303 9,973 9,774 3.3 5.4 126,460 122,376 3.3
Bankruptcies 4,099 4,032 4,348 1.7 -5.7 54,893 57,614 -4.7
Proposals 6,204 5,941 5,426 4.4 14.3 71,567 64,762 10.5
Table 3: Insolvencies Filed by 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 Labrador 5 2 1 150.0 400.0 29 35 -17.1
Bankruptcies 5 2 1 150.0 400.0 25 23 8.7
Proposals 0 0 0 n/a n/a 4 12 -66.7
Prince Edward Island 0 0 0 n/a n/a 3 11 -72.7
Bankruptcies 0 0 0 n/a n/a 2 9 -77.8
Proposals 0 0 0 n/a n/a 1 2 -50.0
Nova Scotia 6 3 7 100.0 -14.3 44 57 -22.8
Bankruptcies 5 3 5 66.7 0.0 31 49 -36.7
Proposals 1 0 2 n/a -50.0 13 8 62.5
New Brunswick 2 5 3 -60.0 -33.3 39 59 -33.9
Bankruptcies 1 4 3 -75.0 -66.7 32 45 -28.9
Proposals 1 1 0 0.0 n/a 7 14 -50.0
Quebec 206 156 203 32.1 1.5 2,093 2,097 -0.2
Bankruptcies 165 128 163 28.9 1.2 1,596 1,607 -0.7
Proposals 41 28 40 46.4 2.5 497 490 1.4
Ontario 59 84 80 -29.8 -26.3 931 887 5.0
Bankruptcies 43 60 54 -28.3 -20.4 684 643 6.4
Proposals 16 24 26 -33.3 -38.5 247 244 1.2
Manitoba 1 5 2 -80.0 -50.0 27 40 -32.5
Bankruptcies 1 5 2 -80.0 -50.0 25 34 -26.5
Proposals 0 0 0 n/a n/a 2 6 -66.7
Saskatchewan 8 9 11 -11.1 -27.3 99 136 -27.2
Bankruptcies 5 6 6 -16.7 -16.7 62 99 -37.4
Proposals 3 3 5 0.0 -40.0 37 37 0.0
Alberta 23 14 15 64.3 53.3 220 196 12.2
Bankruptcies 17 9 10 88.9 70.0 173 129 34.1
Proposals 6 5 5 20.0 20.0 47 67 -29.9
British Columbia 8 14 13 -42.9 -38.5 105 130 -19.2
Bankruptcies 3 10 11 -70.0 -72.7 73 101 -27.7
Proposals 5 4 2 25.0 150.0 32 29 10.3
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 318 292 335 8.9 -5.1 3,590 3,649 -1.6
Bankruptcies 245 227 255 7.9 -3.9 2,703 2,740 -1.4
Proposals 73 65 80 12.3 -8.8 887 909 -2.4
Table 3a: Insolvencies Filed by Corporations
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 Labrador 1 2 0 -50.0 n/a 14 20 -30.0
Bankruptcies 1 2 0 -50.0 n/a 10 9 11.1
Proposals 0 0 0 n/a 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 3 2 0 50.0 n/a 25 17 47.1
Bankruptcies 2 2 0 0.0 n/a 18 13 38.5
Proposals 1 0 0 n/a n/a 7 4 75.0
New Brunswick 1 2 2 -50.0 -50.0 19 37 -48.6
Bankruptcies 1 2 2 -50.0 -50.0 17 27 -37.0
Proposals 0 0 0 n/a n/a 2 10 -80.0
Quebec 183 139 179 31.7 2.2 1,826 1,875 -2.6
Bankruptcies 153 117 149 30.8 2.7 1,417 1,445 -1.9
Proposals 30 22 30 36.4 0.0 409 430 -4.9
Ontario 33 52 31 -36.5 6.5 541 474 14.1
Bankruptcies 24 37 26 -35.1 -7.7 405 351 15.4
Proposals 9 15 5 -40.0 80.0 136 123 10.6
Manitoba 0 0 1 n/a -100.0 4 9 -55.6
Bankruptcies 0 0 1 n/a -100.0 3 7 -57.1
Proposals 0 0 0 n/a n/a 1 2 -50.0
Saskatchewan 0 1 1 -100.0 -100.0 8 12 -33.3
Bankruptcies 0 1 0 -100.0 n/a 5 8 -37.5
Proposals 0 0 1 n/a -100.0 3 4 -25.0
Alberta 14 2 10 600.0 40.0 100 121 -17.4
Bankruptcies 9 1 7 800.0 28.6 78 71 9.9
Proposals 5 1 3 400.0 66.7 22 50 -56.0
British Columbia 4 7 5 -42.9 -20.0 41 66 -37.9
Bankruptcies 1 3 5 -66.7 -80.0 22 46 -52.2
Proposals 3 4 0 -25.0 n/a 19 20 -5.0
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 239 207 229 15.5 4.4 2,579 2,636 -2.2
Bankruptcies 191 165 190 15.8 0.5 1,976 1,980 -0.2
Proposals 48 42 39 14.3 23.1 603 656 -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 Labrador 4 0 1 n/a 300.0 15 15 0.0
Bankruptcies 4 0 1 n/a 300.0 15 14 7.1
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 0 0 0 n/a n/a 2 7 -71.4
Bankruptcies 0 0 0 n/a n/a 1 7 -85.7
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 3 1 7 200.0 -57.1 19 40 -52.5
Bankruptcies 3 1 5 200.0 -40.0 13 36 -63.9
Proposals 0 0 2 n/a -100.0 6 4 50.0
New Brunswick 1 3 1 -66.7 0.0 20 22 -9.1
Bankruptcies 0 2 1 -100.0 -100.0 15 18 -16.7
Proposals 1 1 0 0.0 n/a 5 4 25.0
Quebec 23 17 24 35.3 -4.2 267 222 20.3
Bankruptcies 12 11 14 9.1 -14.3 179 162 10.5
Proposals 11 6 10 83.3 10.0 88 60 46.7
Ontario 26 32 49 -18.8 -46.9 390 413 -5.6
Bankruptcies 19 23 28 -17.4 -32.1 279 292 -4.5
Proposals 7 9 21 -22.2 -66.7 111 121 -8.3
Manitoba 1 5 1 -80.0 0.0 23 31 -25.8
Bankruptcies 1 5 1 -80.0 0.0 22 27 -18.5
Proposals 0 0 0 n/a n/a 1 4 -75.0
Saskatchewan 8 8 10 0.0 -20.0 91 124 -26.6
Bankruptcies 5 5 6 0.0 -16.7 57 91 -37.4
Proposals 3 3 4 0.0 -25.0 34 33 3.0
Alberta 9 12 5 -25.0 80.0 120 75 60.0
Bankruptcies 8 8 3 0.0 166.7 95 58 63.8
Proposals 1 4 2 -75.0 -50.0 25 17 47.1
British Columbia 4 7 8 -42.9 -50.0 64 64 0.0
Bankruptcies 2 7 6 -71.4 -66.7 51 55 -7.3
Proposals 2 0 2 n/a 0.0 13 9 44.4
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 79 85 106 -7.1 -25.5 1,011 1,013 -0.2
Bankruptcies 54 62 65 -12.9 -16.9 727 760 -4.3
Proposals 25 23 41 8.7 -39.0 284 253 12.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector 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
Agriculture, Forestry, Fishing and Hunting 3 11 4 -72.7 -25.0 68 68 0.0
Bankruptcies 3 10 3 -70.0 0.0 51 51 0.0
Proposals 0 1 1 -100.0 -100.0 17 17 0.0
Mining and Oil and Gas Extraction 2 5 0 -60.0 n/a 29 45 -35.6
Bankruptcies 1 1 0 0.0 n/a 17 28 -39.3
Proposals 1 4 0 -75.0 n/a 12 17 -29.4
Utilities 0 0 4 n/a -100.0 4 9 -55.6
Bankruptcies 0 0 3 n/a -100.0 2 8 -75.0
Proposals 0 0 1 n/a -100.0 2 1 100.0
Construction 59 49 71 20.4 -16.9 697 694 0.4
Bankruptcies 48 34 48 41.2 0.0 519 499 4.0
Proposals 11 15 23 -26.7 -52.2 178 195 -8.7
Manufacturing 24 22 22 9.1 9.1 303 329 -7.9
Bankruptcies 17 16 12 6.3 41.7 224 223 0.4
Proposals 7 6 10 16.7 -30.0 79 106 -25.5
Wholesale Trade 22 8 13 175.0 69.2 164 170 -3.5
Bankruptcies 16 6 12 166.7 33.3 123 124 -0.8
Proposals 6 2 1 200.0 500.0 41 46 -10.9
Retail Trade 36 31 30 16.1 20.0 407 393 3.6
Bankruptcies 31 24 25 29.2 24.0 324 314 3.2
Proposals 5 7 5 -28.6 0.0 83 79 5.1
Transportation and Warehousing 27 21 22 28.6 22.7 240 227 5.7
Bankruptcies 19 18 17 5.6 11.8 183 181 1.1
Proposals 8 3 5 166.7 60.0 57 46 23.9
Information and Cultural Industries 10 6 7 66.7 42.9 65 63 3.2
Bankruptcies 7 5 7 40.0 0.0 47 53 -11.3
Proposals 3 1 0 200.0 n/a 18 10 80.0
Finance and Insurance 7 5 8 40.0 -12.5 64 71 -9.9
Bankruptcies 5 5 6 0.0 -16.7 49 55 -10.9
Proposals 2 0 2 n/a 0.0 15 16 -6.3
Real Estate and Rental and Leasing 6 20 21 -70.0 -71.4 149 143 4.2
Bankruptcies 4 19 19 -78.9 -78.9 104 111 -6.3
Proposals 2 1 2 100.0 0.0 45 32 40.6
Professional, Scientific and Technical Services 28 23 26 21.7 7.7 256 263 -2.7
Bankruptcies 21 14 21 50.0 0.0 191 204 -6.4
Proposals 7 9 5 -22.2 40.0 65 59 10.2
Management of Companies and Enterprises 5 7 8 -28.6 -37.5 79 83 -4.8
Bankruptcies 4 6 6 -33.3 -33.3 65 64 1.6
Proposals 1 1 2 0.0 -50.0 14 19 -26.3
Administrative and Support, Waste Management and Remediation Services 16 13 19 23.1 -15.8 160 145 10.3
Bankruptcies 11 8 17 37.5 -35.3 107 105 1.9
Proposals 5 5 2 0.0 150.0 53 40 32.5
Educational Services 4 1 4 300.0 0.0 28 36 -22.2
Bankruptcies 3 0 2 n/a 50.0 21 29 -27.6
Proposals 1 1 2 0.0 -50.0 7 7 0.0
Health Care and Social Assistance 1 8 10 -87.5 -90.0 77 83 -7.2
Bankruptcies 1 6 6 -83.3 -83.3 48 62 -22.6
Proposals 0 2 4 -100.0 -100.0 29 21 38.1
Arts, Entertainment and Recreation 6 7 6 -14.3 0.0 63 88 -28.4
Bankruptcies 5 7 6 -28.6 -16.7 50 67 -25.4
Proposals 1 0 0 n/a n/a 13 21 -38.1
Accommodation and Food Services 47 43 49 9.3 -4.1 541 549 -1.5
Bankruptcies 38 40 35 -5.0 8.6 427 401 6.5
Proposals 9 3 14 200.0 -35.7 114 148 -23.0
Other Services (except Public Administration) 15 12 11 25.0 36.4 193 184 4.9
Bankruptcies 11 8 10 37.5 10.0 149 156 -4.5
Proposals 4 4 1 0.0 300.0 44 28 57.1
Public Administration 0 0 0 n/a n/a 3 6 -50.0
Bankruptcies 0 0 0 n/a n/a 2 5 -60.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 318 292 335 8.9 -5.1 3,590 3,649 -1.6
Bankruptcies 245 227 255 7.9 -3.9 2,703 2,740 -1.4
Proposals 73 65 80 12.3 -8.8 887 909 -2.4
Date modified: