Insolvency Statistics in Canada—March 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.

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
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 289 271 261 6.6 10.7 2,903 2,607 11.4
Bankruptcies 118 124 123 -4.8 -4.1 1,407 1,366 3.0
Proposals 171 147 138 16.3 23.9 1,496 1,241 20.5
Prince Edward Island 60 54 81 11.1 -25.9 714 697 2.4
Bankruptcies 30 27 40 11.1 -25.0 408 416 -1.9
Proposals 30 27 41 11.1 -26.8 306 281 8.9
Nova Scotia 533 393 466 35.6 14.4 5,722 5,709 0.2
Bankruptcies 302 219 284 37.9 6.3 3,504 3,750 -6.6
Proposals 231 174 182 32.8 26.9 2,218 1,959 13.2
New Brunswick 414 337 393 22.8 5.3 4,669 4,374 6.7
Bankruptcies 221 152 200 45.4 10.5 2,365 2,396 -1.3
Proposals 193 185 193 4.3 0.0 2,304 1,978 16.5
Quebec 4,094 3,701 4,008 10.6 2.1 43,701 43,895 -0.4
Bankruptcies 1,870 1,770 1,970 5.6 -5.1 22,382 23,858 -6.2
Proposals 2,224 1,931 2,038 15.2 9.1 21,319 20,037 6.4
Ontario 3,927 3,284 3,658 19.6 7.4 40,696 38,684 5.2
Bankruptcies 1,307 1,069 1,441 22.3 -9.3 15,150 15,678 -3.4
Proposals 2,620 2,215 2,217 18.3 18.2 25,546 23,006 11.0
Manitoba 277 221 215 25.3 28.8 2,988 2,574 16.1
Bankruptcies 122 94 108 29.8 13.0 1,423 1,363 4.4
Proposals 155 127 107 22.0 44.9 1,565 1,211 29.2
Saskatchewan 317 254 314 24.8 1.0 3,559 3,293 8.1
Bankruptcies 112 103 120 8.7 -6.7 1,370 1,437 -4.7
Proposals 205 151 194 35.8 5.7 2,189 1,856 17.9
Alberta 1,455 1,305 1,336 11.5 8.9 15,294 13,554 12.8
Bankruptcies 491 479 445 2.5 10.3 5,289 5,018 5.4
Proposals 964 826 891 16.7 8.2 10,005 8,536 17.2
British Columbia 950 789 899 20.4 5.7 10,375 9,997 3.8
Bankruptcies 351 305 351 15.1 0.0 4,089 4,173 -2.0
Proposals 599 484 548 23.8 9.3 6,286 5,824 7.9
Northwest Territories 6 8 11 -25.0 -45.5 71 94 -24.5
Bankruptcies 2 1 4 100.0 -50.0 36 58 -37.9
Proposals 4 7 7 -42.9 -42.9 35 36 -2.8
Yukon 1 2 3 -50.0 -66.7 31 39 -20.5
Bankruptcies 0 1 2 -100.0 -100.0 11 19 -42.1
Proposals 1 1 1 0.0 0.0 20 20 0.0
Nunavut 2 2 0 0.0 n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 2 2 0 0.0 n/a 7 2 250.0
Canada 12,325 10,621 11,645 16.0 5.8 130,730 125,521 4.1
Bankruptcies 4,926 4,344 5,088 13.4 -3.2 57,434 59,534 -3.5
Proposals 7,399 6,277 6,557 17.9 12.8 73,296 65,987 11.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 286 266 259 7.5 10.4 2,873 2,577 11.5
Bankruptcies 115 119 121 -3.4 -5.0 1,381 1,343 2.8
Proposals 171 147 138 16.3 23.9 1,492 1,234 20.9
Prince Edward Island 60 54 81 11.1 -25.9 711 690 3.0
Bankruptcies 30 27 40 11.1 -25.0 406 411 -1.2
Proposals 30 27 41 11.1 -26.8 305 279 9.3
Nova Scotia 530 387 462 37.0 14.7 5,679 5,653 0.5
Bankruptcies 299 214 282 39.7 6.0 3,472 3,704 -6.3
Proposals 231 173 180 33.5 28.3 2,207 1,949 13.2
New Brunswick 408 335 393 21.8 3.8 4,624 4,320 7.0
Bankruptcies 217 151 200 43.7 8.5 2,329 2,356 -1.1
Proposals 191 184 193 3.8 -1.0 2,295 1,964 16.9
Quebec 3,882 3,495 3,814 11.1 1.8 41,590 41,821 -0.6
Bankruptcies 1,700 1,605 1,824 5.9 -6.8 20,762 22,270 -6.8
Proposals 2,182 1,890 1,990 15.4 9.6 20,828 19,551 6.5
Ontario 3,831 3,225 3,572 18.8 7.3 39,755 37,795 5.2
Bankruptcies 1,234 1,026 1,368 20.3 -9.8 14,466 15,023 -3.7
Proposals 2,597 2,199 2,204 18.1 17.8 25,289 22,772 11.1
Manitoba 276 220 214 25.5 29.0 2,961 2,539 16.6
Bankruptcies 121 93 107 30.1 13.1 1,398 1,334 4.8
Proposals 155 127 107 22.0 44.9 1,563 1,205 29.7
Saskatchewan 311 246 304 26.4 2.3 3,464 3,160 9.6
Bankruptcies 111 98 113 13.3 -1.8 1,314 1,336 -1.6
Proposals 200 148 191 35.1 4.7 2,150 1,824 17.9
Alberta 1,430 1,282 1,312 11.5 9.0 15,073 13,347 12.9
Bankruptcies 473 462 429 2.4 10.3 5,114 4,883 4.7
Proposals 957 820 883 16.7 8.4 9,959 8,464 17.7
British Columbia 940 781 890 20.4 5.6 10,269 9,873 4.0
Bankruptcies 343 302 344 13.6 -0.3 4,015 4,078 -1.5
Proposals 597 479 546 24.6 9.3 6,254 5,795 7.9
Northwest Territories 6 8 11 -25.0 -45.5 71 93 -23.7
Bankruptcies 2 1 4 100.0 -50.0 36 57 -36.8
Proposals 4 7 7 -42.9 -42.9 35 36 -2.8
Yukon 1 2 3 -50.0 -66.7 31 39 -20.5
Bankruptcies 0 1 2 -100.0 -100.0 11 19 -42.1
Proposals 1 1 1 0.0 0.0 20 20 0.0
Nunavut 2 2 0 0.0 n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 2 2 0 0.0 n/a 7 2 250.0
Canada 11,963 10,303 11,315 16.1 5.7 127,108 121,911 4.3
Bankruptcies 4,645 4,099 4,834 13.3 -3.9 54,704 56,816 -3.7
Proposals 7,318 6,204 6,481 18.0 12.9 72,404 65,095 11.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 3 5 2 -40.0 50.0 30 30 0.0
Bankruptcies 3 5 2 -40.0 50.0 26 23 13.0
Proposals 0 0 0 n/a n/a 4 7 -42.9
Prince Edward Island 0 0 0 n/a n/a 3 7 -57.1
Bankruptcies 0 0 0 n/a n/a 2 5 -60.0
Proposals 0 0 0 n/a n/a 1 2 -50.0
Nova Scotia 3 6 4 -50.0 -25.0 43 56 -23.2
Bankruptcies 3 5 2 -40.0 50.0 32 46 -30.4
Proposals 0 1 2 -100.0 -100.0 11 10 10.0
New Brunswick 6 2 0 200.0 n/a 45 54 -16.7
Bankruptcies 4 1 0 300.0 n/a 36 40 -10.0
Proposals 2 1 0 100.0 n/a 9 14 -35.7
Quebec 212 206 194 2.9 9.3 2,111 2,074 1.8
Bankruptcies 170 165 146 3.0 16.4 1,620 1,588 2.0
Proposals 42 41 48 2.4 -12.5 491 486 1.0
Ontario 96 59 86 62.7 11.6 941 889 5.8
Bankruptcies 73 43 73 69.8 0.0 684 655 4.4
Proposals 23 16 13 43.8 76.9 257 234 9.8
Manitoba 1 1 1 0.0 0.0 27 35 -22.9
Bankruptcies 1 1 1 0.0 0.0 25 29 -13.8
Proposals 0 0 0 n/a n/a 2 6 -66.7
Saskatchewan 6 8 10 -25.0 -40.0 95 133 -28.6
Bankruptcies 1 5 7 -80.0 -85.7 56 101 -44.6
Proposals 5 3 3 66.7 66.7 39 32 21.9
Alberta 25 23 24 8.7 4.2 221 207 6.8
Bankruptcies 18 17 16 5.9 12.5 175 135 29.6
Proposals 7 6 8 16.7 -12.5 46 72 -36.1
British Columbia 10 8 9 25.0 11.1 106 124 -14.5
Bankruptcies 8 3 7 166.7 14.3 74 95 -22.1
Proposals 2 5 2 -60.0 0.0 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 362 318 330 13.8 9.7 3,622 3,610 0.3
Bankruptcies 281 245 254 14.7 10.6 2,730 2,718 0.4
Proposals 81 73 76 11.0 6.6 892 892 0.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-2019 03-31-2018 % Change
Agriculture, Forestry, Fishing and Hunting 7 3 4 133.3 75.0 71 66 7.6
Bankruptcies 5 3 4 66.7 25.0 52 49 6.1
Proposals 2 0 0 n/a n/a 19 17 11.8
Mining and Oil and Gas Extraction 7 2 2 250.0 250.0 34 44 -22.7
Bankruptcies 7 1 1 600.0 600.0 23 28 -17.9
Proposals 0 1 1 -100.0 -100.0 11 16 -31.3
Utilities 0 0 0 n/a n/a 4 8 -50.0
Bankruptcies 0 0 0 n/a n/a 2 7 -71.4
Proposals 0 0 0 n/a n/a 2 1 100.0
Construction 73 59 65 23.7 12.3 705 690 2.2
Bankruptcies 61 48 49 27.1 24.5 531 501 6.0
Proposals 12 11 16 9.1 -25.0 174 189 -7.9
Manufacturing 31 24 25 29.2 24.0 309 321 -3.7
Bankruptcies 21 17 22 23.5 -4.5 223 222 0.5
Proposals 10 7 3 42.9 233.3 86 99 -13.1
Wholesale Trade 24 22 13 9.1 84.6 175 167 4.8
Bankruptcies 16 16 8 0.0 100.0 131 124 5.6
Proposals 8 6 5 33.3 60.0 44 43 2.3
Retail Trade 29 36 43 -19.4 -32.6 393 398 -1.3
Bankruptcies 22 31 35 -29.0 -37.1 311 319 -2.5
Proposals 7 5 8 40.0 -12.5 82 79 3.8
Transportation and Warehousing 24 27 20 -11.1 20.0 244 219 11.4
Bankruptcies 16 19 15 -15.8 6.7 184 177 4.0
Proposals 8 8 5 0.0 60.0 60 42 42.9
Information and Cultural Industries 8 10 5 -20.0 60.0 68 59 15.3
Bankruptcies 8 7 5 14.3 60.0 50 50 0.0
Proposals 0 3 0 -100.0 n/a 18 9 100.0
Finance and Insurance 8 7 5 14.3 60.0 67 66 1.5
Bankruptcies 6 5 5 20.0 20.0 50 51 -2.0
Proposals 2 2 0 0.0 n/a 17 15 13.3
Real Estate and Rental and Leasing 13 6 12 116.7 8.3 150 144 4.2
Bankruptcies 10 4 7 150.0 42.9 107 110 -2.7
Proposals 3 2 5 50.0 -40.0 43 34 26.5
Professional, Scientific and Technical Services 23 28 19 -17.9 21.1 260 259 0.4
Bankruptcies 19 21 14 -9.5 35.7 196 197 -0.5
Proposals 4 7 5 -42.9 -20.0 64 62 3.2
Management of Companies and Enterprises 10 5 7 100.0 42.9 82 86 -4.7
Bankruptcies 7 4 5 75.0 40.0 67 65 3.1
Proposals 3 1 2 200.0 50.0 15 21 -28.6
Administrative and Support, Waste Management and Remediation Services 13 16 15 -18.8 -13.3 158 146 8.2
Bankruptcies 9 11 13 -18.2 -30.8 103 110 -6.4
Proposals 4 5 2 -20.0 100.0 55 36 52.8
Educational Services 4 4 1 0.0 300.0 31 22 40.9
Bankruptcies 3 3 1 0.0 200.0 23 16 43.8
Proposals 1 1 0 0.0 n/a 8 6 33.3
Health Care and Social Assistance 12 1 8 1,100.0 50.0 81 81 0.0
Bankruptcies 11 1 5 1,000.0 120.0 54 58 -6.9
Proposals 1 0 3 n/a -66.7 27 23 17.4
Arts, Entertainment and Recreation 7 6 6 16.7 16.7 64 86 -25.6
Bankruptcies 4 5 4 -20.0 0.0 50 65 -23.1
Proposals 3 1 2 200.0 50.0 14 21 -33.3
Accommodation and Food Services 53 47 64 12.8 -17.2 530 557 -4.8
Bankruptcies 44 38 47 15.8 -6.4 424 407 4.2
Proposals 9 9 17 0.0 -47.1 106 150 -29.3
Other Services (except Public Administration) 16 15 16 6.7 0.0 193 186 3.8
Bankruptcies 12 11 14 9.1 -14.3 147 158 -7.0
Proposals 4 4 2 0.0 100.0 46 28 64.3
Public Administration 0 0 0 n/a n/a 3 5 -40.0
Bankruptcies 0 0 0 n/a n/a 2 4 -50.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 362 318 330 13.8 9.7 3,622 3,610 0.3
Bankruptcies 281 245 254 14.7 10.6 2,730 2,718 0.4
Proposals 81 73 76 11.0 6.6 892 892 0.0
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