Insolvency Statistics in Canada—May 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
May 2019 April 2019 May 2018 Apr. 2019
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Newfoundland and Labrador 295 343 269 -14.0 9.7 3,046 2,664 14.3
Bankruptcies 130 167 124 -22.2 4.8 1,466 1,349 8.7
Proposals 165 176 145 -6.3 13.8 1,580 1,315 20.2
Prince Edward Island 76 69 69 10.1 10.1 727 722 0.7
Bankruptcies 37 40 44 -7.5 -15.9 399 431 -7.4
Proposals 39 29 25 34.5 56.0 328 291 12.7
Nova Scotia 553 510 539 8.4 2.6 5,752 5,659 1.6
Bankruptcies 298 299 352 -0.3 -15.3 3,451 3,644 -5.3
Proposals 255 211 187 20.9 36.4 2,301 2,015 14.2
New Brunswick 429 429 423 0.0 1.4 4,716 4,369 7.9
Bankruptcies 231 216 214 6.9 7.9 2,379 2,328 2.2
Proposals 198 213 209 -7.0 -5.3 2,337 2,041 14.5
Quebec 4,082 3,951 3,977 3.3 2.6 44,045 43,886 0.4
Bankruptcies 2,046 1,942 2,177 5.4 -6.0 22,222 23,566 -5.7
Proposals 2,036 2,009 1,800 1.3 13.1 21,823 20,320 7.4
Ontario 4,255 3,884 3,679 9.6 15.7 41,673 38,914 7.1
Bankruptcies 1,524 1,358 1,486 12.2 2.6 15,147 15,589 -2.8
Proposals 2,731 2,526 2,193 8.1 24.5 26,526 23,325 13.7
Manitoba 267 289 224 -7.6 19.2 3,059 2,663 14.9
Bankruptcies 136 147 111 -7.5 22.5 1,460 1,382 5.6
Proposals 131 142 113 -7.7 15.9 1,599 1,281 24.8
Saskatchewan 309 268 282 15.3 9.6 3,547 3,296 7.6
Bankruptcies 119 102 109 16.7 9.2 1,368 1,371 -0.2
Proposals 190 166 173 14.5 9.8 2,179 1,925 13.2
Alberta 1,414 1,452 1,285 -2.6 10.0 15,637 13,826 13.1
Bankruptcies 493 524 462 -5.9 6.7 5,420 5,008 8.2
Proposals 921 928 823 -0.8 11.9 10,217 8,818 15.9
British Columbia 1,001 946 961 5.8 4.2 10,466 10,121 3.4
Bankruptcies 382 346 402 10.4 -5.0 4,047 4,149 -2.5
Proposals 619 600 559 3.2 10.7 6,419 5,972 7.5
Northwest Territories 4 7 3 -42.9 33.3 69 93 -25.8
Bankruptcies 0 0 2 n/a -100.0 28 58 -51.7
Proposals 4 7 1 -42.9 300.0 41 35 17.1
Yukon 6 0 3 n/a 100.0 31 39 -20.5
Bankruptcies 3 0 0 n/a n/a 12 16 -25.0
Proposals 3 0 3 n/a 0.0 19 23 -17.4
Nunavut 0 0 1 n/a -100.0 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 5 4 25.0
Canada 12,691 12,148 11,715 4.5 8.3 132,773 126,258 5.2
Bankruptcies 5,399 5,141 5,483 5.0 -1.5 57,399 58,893 -2.5
Proposals 7,292 7,007 6,232 4.1 17.0 75,374 67,365 11.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May  2019 April 2019 May 2018 Apr. 2019
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Newfoundland and Labrador 291 340 268 -14.4 8.6 3,011 2,638 14.1
Bankruptcies 126 164 123 -23.2 2.4 1,435 1,329 8.0
Proposals 165 176 145 -6.3 13.8 1,576 1,309 20.4
Prince Edward Island 74 66 69 12.1 7.2 719 717 0.3
Bankruptcies 35 37 44 -5.4 -20.5 392 426 -8.0
Proposals 39 29 25 34.5 56.0 327 291 12.4
Nova Scotia 548 501 536 9.4 2.2 5,700 5,605 1.7
Bankruptcies 294 290 349 1.4 -15.8 3,410 3,600 -5.3
Proposals 254 211 187 20.4 35.8 2,290 2,005 14.2
New Brunswick 425 427 420 -0.5 1.2 4,675 4,321 8.2
Bankruptcies 228 214 211 6.5 8.1 2,348 2,290 2.5
Proposals 197 213 209 -7.5 -5.7 2,327 2,031 14.6
Quebec 3,905 3,732 3,786 4.6 3.1 41,897 41,816 0.2
Bankruptcies 1,920 1,777 2,051 8.0 -6.4 20,568 22,017 -6.6
Proposals 1,985 1,955 1,735 1.5 14.4 21,329 19,799 7.7
Ontario 4,172 3,791 3,596 10.1 16.0 40,714 38,024 7.1
Bankruptcies 1,456 1,287 1,422 13.1 2.4 14,449 14,929 -3.2
Proposals 2,716 2,504 2,174 8.5 24.9 26,265 23,095 13.7
Manitoba 263 282 222 -6.7 18.5 3,025 2,631 15.0
Bankruptcies 133 142 109 -6.3 22.0 1,431 1,356 5.5
Proposals 130 140 113 -7.1 15.0 1,594 1,275 25.0
Saskatchewan 295 264 272 11.7 8.5 3,452 3,176 8.7
Bankruptcies 111 100 103 11.0 7.8 1,314 1,283 2.4
Proposals 184 164 169 12.2 8.9 2,138 1,893 12.9
Alberta 1,401 1,442 1,271 -2.8 10.2 15,430 13,624 13.3
Bankruptcies 482 517 452 -6.8 6.6 5,256 4,873 7.9
Proposals 919 925 819 -0.6 12.2 10,174 8,751 16.3
British Columbia 991 933 953 6.2 4.0 10,358 10,003 3.5
Bankruptcies 375 335 396 11.9 -5.3 3,972 4,059 -2.1
Proposals 616 598 557 3.0 10.6 6,386 5,944 7.4
Northwest Territories 4 7 3 -42.9 33.3 69 93 -25.8
Bankruptcies 0 0 2 n/a -100.0 28 58 -51.7
Proposals 4 7 1 -42.9 300.0 41 35 17.1
Yukon 6 0 3 n/a 100.0 31 39 -20.5
Bankruptcies 3 0 0 n/a n/a 12 16 -25.0
Proposals 3 0 3 n/a 0.0 19 23 -17.4
Nunavut 0 0 1 n/a -100.0 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 5 4 25.0
Canada 12,375 11,785 11,400 5.0 8.6 129,086 122,693 5.2
Bankruptcies 5,163 4,863 5,262 6.2 -1.9 54,615 56,238 -2.9
Proposals 7,212 6,922 6,138 4.2 17.5 74,471 66,455 12.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May  2019 April  2019 May 2018 Apr. 20119
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Newfoundland and Labrador 4 3 1 33.3 300.0 35 26 34.6
Bankruptcies 4 3 1 33.3 300.0 31 20 55.0
Proposals 0 0 0 n/a n/a 4 6 -33.3
Prince Edward Island 2 3 0 -33.3 n/a 8 5 60.0
Bankruptcies 2 3 0 -33.3 n/a 7 5 40.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 5 9 3 -44.4 66.7 52 54 -3.7
Bankruptcies 4 9 3 -55.6 33.3 41 44 -6.8
Proposals 1 0 0 n/a n/a 11 10 10.0
New Brunswick 4 2 3 100.0 33.3 41 48 -14.6
Bankruptcies 3 2 3 50.0 0.0 31 38 -18.4
Proposals 1 0 0 n/a n/a 10 10 0.0
Quebec 177 219 191 -19.2 -7.3 2,148 2,070 3.8
Bankruptcies 126 165 126 -23.6 0.0 1,654 1,549 6.8
Proposals 51 54 65 -5.6 -21.5 494 521 -5.2
Ontario 83 93 83 -10.8 0.0 959 890 7.8
Bankruptcies 68 71 64 -4.2 6.3 698 660 5.8
Proposals 15 22 19 -31.8 -21.1 261 230 13.5
Manitoba 4 7 2 -42.9 100.0 34 32 6.3
Bankruptcies 3 5 2 -40.0 50.0 29 26 11.5
Proposals 1 2 0 -50.0 n/a 5 6 -16.7
Saskatchewan 14 4 10 250.0 40.0 95 120 -20.8
Bankruptcies 8 2 6 300.0 33.3 54 88 -38.6
Proposals 6 2 4 200.0 50.0 41 32 28.1
Alberta 13 10 14 30.0 -7.1 207 202 2.5
Bankruptcies 11 7 10 57.1 10.0 164 135 21.5
Proposals 2 3 4 -33.3 -50.0 43 67 -35.8
British Columbia 10 13 8 -23.1 25.0 108 118 -8.5
Bankruptcies 7 11 6 -36.4 16.7 75 90 -16.7
Proposals 3 2 2 50.0 50.0 33 28 17.9
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 316 363 315 -12.9 0.3 3,687 3,565 3.4
Bankruptcies 236 278 221 -15.1 6.8 2,784 2,655 4.9
Proposals 80 85 94 -5.9 -14.9 903 910 -0.8
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
May  2019 April  2019 May 2018 Apr. 20119
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Newfoundland and Labrador 0 1 0 -100.0 n/a 14 14 0.0
Bankruptcies 0 1 0 -100.0 n/a 10 9 11.1
Proposals 0 0 0 n/a n/a 4 5 -20.0
Prince Edward Island 0 2 0 -100.0 n/a 3 1 200.0
Bankruptcies 0 2 0 -100.0 n/a 3 1 200.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 1 5 1 -80.0 0.0 25 19 31.6
Bankruptcies 1 5 1 -80.0 0.0 21 13 61.5
Proposals 0 0 0 n/a n/a 4 6 -33.3
New Brunswick 4 1 0 300.0 n/a 24 28 -14.3
Bankruptcies 3 1 0 200.0 n/a 21 20 5.0
Proposals 1 0 0 n/a n/a 3 8 -62.5
Quebec 160 195 152 -17.9 5.3 1,882 1,833 2.7
Bankruptcies 115 154 101 -25.3 13.9 1,475 1,386 6.4
Proposals 45 41 51 9.8 -11.8 407 447 -8.9
Ontario 49 55 48 -10.9 2.1 570 467 22.1
Bankruptcies 42 44 39 -4.5 7.7 426 359 18.7
Proposals 7 11 9 -36.4 -22.2 144 108 33.3
Manitoba 3 0 0 n/a n/a 7 7 0.0
Bankruptcies 2 0 0 n/a n/a 5 5 0.0
Proposals 1 0 0 n/a n/a 2 2 0.0
Saskatchewan 1 0 1 n/a 0.0 5 10 -50.0
Bankruptcies 0 0 0 n/a n/a 3 6 -50.0
Proposals 1 0 1 n/a 0.0 2 4 -50.0
Alberta 3 4 7 -25.0 -57.1 88 119 -26.1
Bankruptcies 3 4 3 -25.0 0.0 71 70 1.4
Proposals 0 0 4 n/a -100.0 17 49 -65.3
British Columbia 5 3 3 66.7 66.7 45 50 -10.0
Bankruptcies 3 2 3 50.0 0.0 25 33 -24.2
Proposals 2 1 0 100.0 n/a 20 17 17.6
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 226 266 212 -15.0 6.6 2,663 2,548 4.5
Bankruptcies 169 213 147 -20.7 15.0 2,060 1,902 8.3
Proposals 57 53 65 7.5 -12.3 603 646 -6.7
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
May  2019 April  2019 May 2018 Apr. 20119
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Newfoundland and Labrador 4 2 1 100.0 300.0 21 12 75.0
Bankruptcies 4 2 1 100.0 300.0 21 11 90.9
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 2 1 0 100.0 n/a 5 4 25.0
Bankruptcies 2 1 0 100.0 n/a 4 4 0.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 4 4 2 0.0 100.0 27 35 -22.9
Bankruptcies 3 4 2 -25.0 50.0 20 31 -35.5
Proposals 1 0 0 n/a n/a 7 4 75.0
New Brunswick 0 1 3 -100.0 -100.0 17 20 -15.0
Bankruptcies 0 1 3 -100.0 -100.0 10 18 -44.4
Proposals 0 0 0 n/a n/a 7 2 250.0
Quebec 17 24 39 -29.2 -56.4 266 237 12.2
Bankruptcies 11 11 25 0.0 -56.0 179 163 9.8
Proposals 6 13 14 -53.8 -57.1 87 74 17.6
Ontario 34 38 35 -10.5 -2.9 389 423 -8.0
Bankruptcies 26 27 25 -3.7 4.0 272 301 -9.6
Proposals 8 11 10 -27.3 -20.0 117 122 -4.1
Manitoba 1 7 2 -85.7 -50.0 27 25 8.0
Bankruptcies 1 5 2 -80.0 -50.0 24 21 14.3
Proposals 0 2 0 -100.0 n/a 3 4 -25.0
Saskatchewan 13 4 9 225.0 44.4 90 110 -18.2
Bankruptcies 8 2 6 300.0 33.3 51 82 -37.8
Proposals 5 2 3 150.0 66.7 39 28 39.3
Alberta 10 6 7 66.7 42.9 119 83 43.4
Bankruptcies 8 3 7 166.7 14.3 93 65 43.1
Proposals 2 3 0 -33.3 n/a 26 18 44.4
British Columbia 5 10 5 -50.0 0.0 63 68 -7.4
Bankruptcies 4 9 3 -55.6 33.3 50 57 -12.3
Proposals 1 1 2 0.0 -50.0 13 11 18.2
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 90 97 103 -7.2 -12.6 1,024 1,017 0.7
Bankruptcies 67 65 74 3.1 -9.5 724 753 -3.9
Proposals 23 32 29 -28.1 -20.7 300 264 13.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
May  2019 April 2019 May 2018 Apr. 20119
to
May 2019
May 2018
to
May 2019
05-31-2019 05-31-2018 % Change
Agriculture, Forestry, Fishing and Hunting 4 6 8 -33.3 -50.0 67 64 4.7
Bankruptcies 3 4 7 -25.0 -57.1 48 46 4.3
Proposals 1 2 1 -50.0 0.0 19 18 5.6
Mining and Oil and Gas Extraction 2 1 2 100.0 0.0 32 37 -13.5
Bankruptcies 1 0 1 n/a 0.0 20 23 -13.0
Proposals 1 1 1 0.0 0.0 12 14 -14.3
Utilities 3 0 0 n/a n/a 6 8 -25.0
Bankruptcies 1 0 0 n/a n/a 2 7 -71.4
Proposals 2 0 0 n/a n/a 4 1 300.0
Construction 74 64 71 15.6 4.2 708 713 -0.7
Bankruptcies 51 50 51 2.0 0.0 533 512 4.1
Proposals 23 14 20 64.3 15.0 175 201 -12.9
Manufacturing 32 32 24 0.0 33.3 323 309 4.5
Bankruptcies 25 25 14 0.0 78.6 238 208 14.4
Proposals 7 7 10 0.0 -30.0 85 101 -15.8
Wholesale Trade 12 15 8 -20.0 50.0 179 161 11.2
Bankruptcies 8 11 8 -27.3 0.0 129 123 4.9
Proposals 4 4 0 0.0 n/a 50 38 31.6
Retail Trade 28 34 31 -17.6 -9.7 395 382 3.4
Bankruptcies 20 23 23 -13.0 -13.0 308 311 -1.0
Proposals 8 11 8 -27.3 0.0 87 71 22.5
Transportation and Warehousing 23 14 15 64.3 53.3 237 211 12.3
Bankruptcies 16 13 10 23.1 60.0 178 168 6.0
Proposals 7 1 5 600.0 40.0 59 43 37.2
Information and Cultural Industries 3 9 2 -66.7 50.0 75 57 31.6
Bankruptcies 3 7 1 -57.1 200.0 56 48 16.7
Proposals 0 2 1 -100.0 -100.0 19 9 111.1
Finance and Insurance 6 8 6 -25.0 0.0 74 61 21.3
Bankruptcies 5 7 2 -28.6 150.0 59 43 37.2
Proposals 1 1 4 0.0 -75.0 15 18 -16.7
Real Estate and Rental and Leasing 10 17 17 -41.2 -41.2 149 147 1.4
Bankruptcies 10 16 14 -37.5 -28.6 110 112 -1.8
Proposals 0 1 3 -100.0 -100.0 39 35 11.4
Professional, Scientific and Technical Services 21 35 28 -40.0 -25.0 264 261 1.1
Bankruptcies 17 25 16 -32.0 6.3 202 198 2.0
Proposals 4 10 12 -60.0 -66.7 62 63 -1.6
Management of Companies and Enterprises 6 11 4 -45.5 50.0 88 84 4.8
Bankruptcies 5 9 4 -44.4 25.0 74 63 17.5
Proposals 1 2 0 -50.0 n/a 14 21 -33.3
Administrative and Support, Waste Management and Remediation Services 19 14 18 35.7 5.6 157 146 7.5
Bankruptcies 15 11 11 36.4 36.4 105 105 0.0
Proposals 4 3 7 33.3 -42.9 52 41 26.8
Educational Services 1 3 0 -66.7 n/a 31 25 24.0
Bankruptcies 1 2 0 -50.0 n/a 22 19 15.8
Proposals 0 1 0 -100.0 n/a 9 6 50.0
Health Care and Social Assistance 5 9 9 -44.4 -44.4 78 84 -7.1
Bankruptcies 1 7 4 -85.7 -75.0 50 60 -16.7
Proposals 4 2 5 100.0 -20.0 28 24 16.7
Arts, Entertainment and Recreation 6 6 7 0.0 -14.3 67 80 -16.3
Bankruptcies 5 4 6 25.0 -16.7 51 60 -15.0
Proposals 1 2 1 -50.0 0.0 16 20 -20.0
Accommodation and Food Services 44 64 45 -31.3 -2.2 553 551 0.4
Bankruptcies 35 48 33 -27.1 6.1 444 396 12.1
Proposals 9 16 12 -43.8 -25.0 109 155 -29.7
Other Services (except Public Administration) 17 21 19 -19.0 -10.5 202 180 12.2
Bankruptcies 14 16 15 -12.5 -6.7 154 150 2.7
Proposals 3 5 4 -40.0 -25.0 48 30 60.0
Public Administration 0 0 1 n/a -100.0 2 4 -50.0
Bankruptcies 0 0 1 n/a -100.0 1 3 -66.7
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 316 363 315 -12.9 0.3 3,687 3,565 3.4
Bankruptcies 236 278 221 -15.1 6.8 2,784 2,655 4.9
Proposals 80 85 94 -5.9 -14.9 903 910 -0.8
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