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Insolvency Statistics in Canada—July 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
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 280 281 216 -0.4 29.6 3,141 2,739 14.7
Bankruptcies 139 141 115 -1.4 20.9 1,490 1,387 7.4
Proposals 141 140 101 0.7 39.6 1,651 1,352 22.1
Prince Edward Island 64 62 59 3.2 8.5 737 726 1.5
Bankruptcies 39 28 36 39.3 8.3 396 430 -7.9
Proposals 25 34 23 -26.5 8.7 341 296 15.2
Nova Scotia 495 562 449 -11.9 10.2 5,838 5,639 3.5
Bankruptcies 254 309 293 -17.8 -13.3 3,392 3,574 -5.1
Proposals 241 253 156 -4.7 54.5 2,446 2,065 18.5
New Brunswick 426 463 398 -8.0 7.0 4,832 4,424 9.2
Bankruptcies 206 205 215 0.5 -4.2 2,387 2,311 3.3
Proposals 220 258 183 -14.7 20.2 2,445 2,113 15.7
Quebec 3,558 3,257 3,261 9.2 9.1 44,179 43,638 1.2
Bankruptcies 1,734 1,567 1,717 10.7 1.0 22,024 23,199 -5.1
Proposals 1,824 1,690 1,544 7.9 18.1 22,155 20,439 8.4
Ontario 3,975 3,686 3,245 7.8 22.5 42,816 39,090 9.5
Bankruptcies 1,309 1,265 1,276 3.5 2.6 15,128 15,597 -3.0
Proposals 2,666 2,421 1,969 10.1 35.4 27,688 23,493 17.9
Manitoba 265 277 212 -4.3 25.0 3,081 2,714 13.5
Bankruptcies 127 127 112 0.0 13.4 1,442 1,413 2.1
Proposals 138 150 100 -8.0 38.0 1,639 1,301 26.0
Saskatchewan 297 263 321 12.9 -7.5 3,504 3,387 3.5
Bankruptcies 101 100 118 1.0 -14.4 1,348 1,365 -1.2
Proposals 196 163 203 20.2 -3.4 2,156 2,022 6.6
Alberta 1,435 1,418 1,173 1.2 22.3 15,956 14,174 12.6
Bankruptcies 496 452 440 9.7 12.7 5,471 5,125 6.8
Proposals 939 966 733 -2.8 28.1 10,485 9,049 15.9
British Columbia 1,020 934 748 9.2 36.4 10,797 10,032 7.6
Bankruptcies 394 340 304 15.9 29.6 4,122 4,094 0.7
Proposals 626 594 444 5.4 41.0 6,675 5,938 12.4
Northwest Territories 8 4 3 100.0 166.7 66 103 -35.9
Bankruptcies 2 0 1 n/a 100.0 22 61 -63.9
Proposals 6 4 2 50.0 200.0 44 42 4.8
Yukon 2 4 2 -50.0 0.0 32 38 -15.8
Bankruptcies 1 0 0 n/a n/a 11 15 -26.7
Proposals 1 4 2 -75.0 -50.0 21 23 -8.7
Nunavut 0 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 5 4 25.0
Canada 11,825 11,211 10,087 5.5 17.2 134,984 126,710 6.5
Bankruptcies 4,802 4,534 4,627 5.9 3.8 57,233 58,573 -2.3
Proposals 7,023 6,677 5,460 5.2 28.6 77,751 68,137 14.1
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 277 277 215 0.0 28.8 3,101 2,719 14.0
Bankruptcies 137 137 115 0.0 19.1 1,454 1,373 5.9
Proposals 140 140 100 0.0 40.0 1,647 1,346 22.4
Prince Edward Island 64 62 59 3.2 8.5 730 722 1.1
Bankruptcies 39 28 36 39.3 8.3 390 426 -8.5
Proposals 25 34 23 -26.5 8.7 340 296 14.9
Nova Scotia 488 555 446 -12.1 9.4 5,777 5,593 3.3
Bankruptcies 249 304 291 -18.1 -14.4 3,344 3,539 -5.5
Proposals 239 251 155 -4.8 54.2 2,433 2,054 18.5
New Brunswick 417 456 397 -8.6 5.0 4,781 4,381 9.1
Bankruptcies 201 198 214 1.5 -6.1 2,350 2,277 3.2
Proposals 216 258 183 -16.3 18.0 2,431 2,104 15.5
Quebec 3,379 3,090 3,118 9.4 8.4 41,982 41,584 1.0
Bankruptcies 1,593 1,438 1,607 10.8 -0.9 20,326 21,664 -6.2
Proposals 1,786 1,652 1,511 8.1 18.2 21,656 19,920 8.7
Ontario 3,896 3,616 3,169 7.7 22.9 41,860 38,182 9.6
Bankruptcies 1,255 1,220 1,222 2.9 2.7 14,437 14,932 -3.3
Proposals 2,641 2,396 1,947 10.2 35.6 27,423 23,250 17.9
Manitoba 263 274 209 -4.0 25.8 3,047 2,680 13.7
Bankruptcies 126 124 109 1.6 15.6 1,413 1,385 2.0
Proposals 137 150 100 -8.7 37.0 1,634 1,295 26.2
Saskatchewan 288 259 315 11.2 -8.6 3,407 3,272 4.1
Bankruptcies 95 100 117 -5.0 -18.8 1,293 1,284 0.7
Proposals 193 159 198 21.4 -2.5 2,114 1,988 6.3
Alberta 1,406 1,397 1,157 0.6 21.5 15,729 13,967 12.6
Bankruptcies 476 440 427 8.2 11.5 5,300 4,982 6.4
Proposals 930 957 730 -2.8 27.4 10,429 8,985 16.1
British Columbia 1,001 922 739 8.6 35.5 10,671 9,923 7.5
Bankruptcies 378 333 298 13.5 26.8 4,033 4,015 0.4
Proposals 623 589 441 5.8 41.3 6,638 5,908 12.4
Northwest Territories 8 4 3 100.0 166.7 66 103 -35.9
Bankruptcies 2 0 1 n/a 100.0 22 61 -63.9
Proposals 6 4 2 50.0 200.0 44 42 4.8
Yukon 2 4 2 -50.0 0.0 32 38 -15.8
Bankruptcies 1 0 0 n/a n/a 11 15 -26.7
Proposals 1 4 2 -75.0 -50.0 21 23 -8.7
Nunavut 0 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 5 4 25.0
Canada 11,489 10,916 9,829 5.2 16.9 131,188 123,170 6.5
Bankruptcies 4,552 4,322 4,437 5.3 2.6 54,373 55,955 -2.8
Proposals 6,937 6,594 5,392 5.2 28.7 76,815 67,215 14.3
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 3 4 1 -25.0 200.0 40 20 100.0
Bankruptcies 2 4 0 -50.0 n/a 36 14 157.1
Proposals 1 0 1 n/a 0.0 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 6 4 50.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 7 7 3 0.0 133.3 61 46 32.6
Bankruptcies 5 5 2 0.0 150.0 48 35 37.1
Proposals 2 2 1 0.0 100.0 13 11 18.2
New Brunswick 9 7 1 28.6 800.0 51 43 18.6
Bankruptcies 5 7 1 -28.6 400.0 37 34 8.8
Proposals 4 0 0 n/a n/a 14 9 55.6
Quebec 179 167 143 7.2 25.2 2,197 2,054 7.0
Bankruptcies 141 129 110 9.3 28.2 1,698 1,535 10.6
Proposals 38 38 33 0.0 15.2 499 519 -3.9
Ontario 79 70 76 12.9 3.9 956 908 5.3
Bankruptcies 54 45 54 20.0 0.0 691 665 3.9
Proposals 25 25 22 0.0 13.6 265 243 9.1
Manitoba 2 3 3 -33.3 -33.3 34 34 0.0
Bankruptcies 1 3 3 -66.7 -66.7 29 28 3.6
Proposals 1 0 0 n/a n/a 5 6 -16.7
Saskatchewan 9 4 6 125.0 50.0 97 115 -15.7
Bankruptcies 6 0 1 n/a 500.0 55 81 -32.1
Proposals 3 4 5 -25.0 -40.0 42 34 23.5
Alberta 29 21 16 38.1 81.3 227 207 9.7
Bankruptcies 20 12 13 66.7 53.8 171 143 19.6
Proposals 9 9 3 0.0 200.0 56 64 -12.5
British Columbia 19 12 9 58.3 111.1 126 109 15.6
Bankruptcies 16 7 6 128.6 166.7 89 79 12.7
Proposals 3 5 3 -40.0 0.0 37 30 23.3
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 336 295 258 13.9 30.2 3,796 3,540 7.2
Bankruptcies 250 212 190 17.9 31.6 2,860 2,618 9.2
Proposals 86 83 68 3.6 26.5 936 922 1.5
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 2 0 1 n/a 100.0 15 11 36.4
Bankruptcies 1 0 0 n/a n/a 11 5 120.0
Proposals 1 0 1 n/a 0.0 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 2 1 100.0
Bankruptcies 0 0 0 n/a n/a 2 1 100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 4 5 2 -20.0 100.0 32 20 60.0
Bankruptcies 2 3 2 -33.3 0.0 24 15 60.0
Proposals 2 2 0 0.0 n/a 8 5 60.0
New Brunswick 6 4 1 50.0 500.0 31 25 24.0
Bankruptcies 3 4 1 -25.0 200.0 25 17 47.1
Proposals 3 0 0 n/a n/a 6 8 -25.0
Quebec 158 148 125 6.8 26.4 1,923 1,823 5.5
Bankruptcies 125 118 96 5.9 30.2 1,516 1,375 10.3
Proposals 33 30 29 10.0 13.8 407 448 -9.2
Ontario 39 34 50 14.7 -22.0 549 479 14.6
Bankruptcies 26 23 35 13.0 -25.7 408 361 13.0
Proposals 13 11 15 18.2 -13.3 141 118 19.5
Manitoba 0 2 0 -100.0 n/a 8 7 14.3
Bankruptcies 0 2 0 -100.0 n/a 7 4 75.0
Proposals 0 0 0 n/a n/a 1 3 -66.7
Saskatchewan 2 0 1 n/a 100.0 5 11 -54.5
Bankruptcies 1 0 0 n/a n/a 3 6 -50.0
Proposals 1 0 1 n/a 0.0 2 5 -60.0
Alberta 19 11 5 72.7 280.0 107 110 -2.7
Bankruptcies 14 5 5 180.0 180.0 81 67 20.9
Proposals 5 6 0 -16.7 n/a 26 43 -39.5
British Columbia 6 6 2 0.0 200.0 54 46 17.4
Bankruptcies 5 4 2 25.0 150.0 31 29 6.9
Proposals 1 2 0 -50.0 n/a 23 17 35.3
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 236 210 187 12.4 26.2 2,726 2,533 7.6
Bankruptcies 177 159 141 11.3 25.5 2,108 1,880 12.1
Proposals 59 51 46 15.7 28.3 618 653 -5.4
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 1 4 0 -75.0 n/a 25 9 177.8
Bankruptcies 1 4 0 -75.0 n/a 25 9 177.8
Proposals 0 0 0 n/a n/a 0 0 n/a
Prince Edward Island 0 0 0 n/a n/a 5 3 66.7
Bankruptcies 0 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 3 2 1 50.0 200.0 29 26 11.5
Bankruptcies 3 2 0 50.0 n/a 24 20 20.0
Proposals 0 0 1 n/a -100.0 5 6 -16.7
New Brunswick 3 3 0 0.0 n/a 20 18 11.1
Bankruptcies 2 3 0 -33.3 n/a 12 17 -29.4
Proposals 1 0 0 n/a n/a 8 1 700.0
Quebec 21 19 18 10.5 16.7 274 231 18.6
Bankruptcies 16 11 14 45.5 14.3 182 160 13.8
Proposals 5 8 4 -37.5 25.0 92 71 29.6
Ontario 40 36 26 11.1 53.8 407 429 -5.1
Bankruptcies 28 22 19 27.3 47.4 283 304 -6.9
Proposals 12 14 7 -14.3 71.4 124 125 -0.8
Manitoba 2 1 3 100.0 -33.3 26 27 -3.7
Bankruptcies 1 1 3 0.0 -66.7 22 24 -8.3
Proposals 1 0 0 n/a n/a 4 3 33.3
Saskatchewan 7 4 5 75.0 40.0 92 104 -11.5
Bankruptcies 5 0 1 n/a 400.0 52 75 -30.7
Proposals 2 4 4 -50.0 -50.0 40 29 37.9
Alberta 10 10 11 0.0 -9.1 120 97 23.7
Bankruptcies 6 7 8 -14.3 -25.0 90 76 18.4
Proposals 4 3 3 33.3 33.3 30 21 42.9
British Columbia 13 6 7 116.7 85.7 72 63 14.3
Bankruptcies 11 3 4 266.7 175.0 58 50 16.0
Proposals 2 3 3 -33.3 -33.3 14 13 7.7
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 100 85 71 17.6 40.8 1,070 1,007 6.3
Bankruptcies 73 53 49 37.7 49.0 752 738 1.9
Proposals 27 32 22 -15.6 22.7 318 269 18.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Agriculture, Forestry, Fishing and Hunting 2 1 2 100.0 0.0 61 69 -11.6
Bankruptcies 0 1 2 -100.0 -100.0 42 49 -14.3
Proposals 2 0 0 n/a n/a 19 20 -5.0
Mining and Oil and Gas Extraction 6 7 1 -14.3 500.0 43 33 30.3
Bankruptcies 4 5 0 -20.0 n/a 28 21 33.3
Proposals 2 2 1 0.0 100.0 15 12 25.0
Utilities 0 0 0 n/a n/a 6 7 -14.3
Bankruptcies 0 0 0 n/a n/a 2 6 -66.7
Proposals 0 0 0 n/a n/a 4 1 300.0
Construction 69 47 54 46.8 27.8 725 718 1.0
Bankruptcies 52 29 38 79.3 36.8 544 509 6.9
Proposals 17 18 16 -5.6 6.3 181 209 -13.4
Manufacturing 29 27 24 7.4 20.8 330 307 7.5
Bankruptcies 22 21 19 4.8 15.8 247 204 21.1
Proposals 7 6 5 16.7 40.0 83 103 -19.4
Wholesale Trade 12 20 18 -40.0 -33.3 178 166 7.2
Bankruptcies 8 15 11 -46.7 -27.3 129 123 4.9
Proposals 4 5 7 -20.0 -42.9 49 43 14.0
Retail Trade 34 30 29 13.3 17.2 404 382 5.8
Bankruptcies 26 27 24 -3.7 8.3 315 310 1.6
Proposals 8 3 5 166.7 60.0 89 72 23.6
Transportation and Warehousing 12 14 19 -14.3 -36.8 225 215 4.7
Bankruptcies 9 7 14 28.6 -35.7 165 169 -2.4
Proposals 3 7 5 -57.1 -40.0 60 46 30.4
Information and Cultural Industries 8 11 4 -27.3 100.0 81 61 32.8
Bankruptcies 6 6 2 0.0 200.0 60 49 22.4
Proposals 2 5 2 -60.0 0.0 21 12 75.0
Finance and Insurance 3 5 4 -40.0 -25.0 75 54 38.9
Bankruptcies 2 4 3 -50.0 -33.3 60 39 53.8
Proposals 1 1 1 0.0 0.0 15 15 0.0
Real Estate and Rental and Leasing 16 10 7 60.0 128.6 160 134 19.4
Bankruptcies 12 5 6 140.0 100.0 113 105 7.6
Proposals 4 5 1 -20.0 300.0 47 29 62.1
Professional, Scientific and Technical Services 34 27 22 25.9 54.5 282 262 7.6
Bankruptcies 30 24 18 25.0 66.7 223 195 14.4
Proposals 4 3 4 33.3 0.0 59 67 -11.9
Management of Companies and Enterprises 12 7 7 71.4 71.4 94 82 14.6
Bankruptcies 8 4 7 100.0 14.3 73 65 12.3
Proposals 4 3 0 33.3 n/a 21 17 23.5
Administrative and Support, Waste Management and Remediation Services 11 19 6 -42.1 83.3 170 145 17.2
Bankruptcies 6 13 3 -53.8 100.0 111 105 5.7
Proposals 5 6 3 -16.7 66.7 59 40 47.5
Educational Services 3 2 3 50.0 0.0 31 27 14.8
Bankruptcies 2 2 1 0.0 100.0 23 20 15.0
Proposals 1 0 2 n/a -50.0 8 7 14.3
Health Care and Social Assistance 7 12 3 -41.7 133.3 90 75 20.0
Bankruptcies 3 7 2 -57.1 50.0 57 50 14.0
Proposals 4 5 1 -20.0 300.0 33 25 32.0
Arts, Entertainment and Recreation 11 6 6 83.3 83.3 71 83 -14.5
Bankruptcies 9 5 5 80.0 80.0 55 65 -15.4
Proposals 2 1 1 100.0 100.0 16 18 -11.1
Accommodation and Food Services 48 36 36 33.3 33.3 557 541 3.0
Bankruptcies 36 27 27 33.3 33.3 450 390 15.4
Proposals 12 9 9 33.3 33.3 107 151 -29.1
Other Services (except Public Administration) 19 14 12 35.7 58.3 212 174 21.8
Bankruptcies 15 10 8 50.0 87.5 162 141 14.9
Proposals 4 4 4 0.0 0.0 50 33 51.5
Public Administration 0 0 1 n/a -100.0 1 5 -80.0
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 0 1 n/a -100.0 0 2 -100.0
Total 336 295 258 13.9 30.2 3,796 3,540 7.2
Bankruptcies 250 212 190 17.9 31.6 2,860 2,618 9.2
Proposals 86 83 68 3.6 26.5 936 922 1.5
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