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Insolvency Statistics in Canada—September 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
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 255 268 222 -4.9 14.9 3,201 2,777 15.3
Bankruptcies 125 113 124 10.6 0.8 1,484 1,409 5.3
Proposals 130 155 98 -16.1 32.7 1,717 1,368 25.5
Prince Edward Island 44 66 44 -33.3 0.0 741 715 3.6
Bankruptcies 22 31 26 -29.0 -15.4 392 416 -5.8
Proposals 22 35 18 -37.1 22.2 349 299 16.7
Nova Scotia 492 528 443 -6.8 11.1 5,928 5,581 6.2
Bankruptcies 241 296 296 -18.6 -18.6 3,336 3,517 -5.1
Proposals 251 232 147 8.2 70.7 2,592 2,064 25.6
New Brunswick 442 401 387 10.2 14.2 4,874 4,436 9.9
Bankruptcies 209 208 201 0.5 4.0 2,403 2,277 5.5
Proposals 233 193 186 20.7 25.3 2,471 2,159 14.5
Quebec 4,040 3,548 3,600 13.9 12.2 44,555 43,744 1.9
Bankruptcies 1,954 1,713 1,878 14.1 4.0 21,885 22,991 -4.8
Proposals 2,086 1,835 1,722 13.7 21.1 22,670 20,753 9.2
Ontario 3,935 3,816 3,083 3.1 27.6 44,190 39,044 13.2
Bankruptcies 1,306 1,277 1,220 2.3 7.0 15,243 15,465 -1.4
Proposals 2,629 2,539 1,863 3.5 41.1 28,947 23,579 22.8
Manitoba 270 255 234 5.9 15.4 3,133 2,771 13.1
Bankruptcies 123 105 113 17.1 8.8 1,449 1,411 2.7
Proposals 147 150 121 -2.0 21.5 1,684 1,360 23.8
Saskatchewan 276 276 296 0.0 -6.8 3,450 3,415 1.0
Bankruptcies 97 103 120 -5.8 -19.2 1,302 1,376 -5.4
Proposals 179 173 176 3.5 1.7 2,148 2,039 5.3
Alberta 1,425 1,415 1,135 0.7 25.6 16,403 14,247 15.1
Bankruptcies 471 472 352 -0.2 33.8 5,616 5,046 11.3
Proposals 954 943 783 1.2 21.8 10,787 9,201 17.2
British Columbia 1,001 941 841 6.4 19.0 11,066 10,092 9.7
Bankruptcies 352 349 351 0.9 0.3 4,135 4,139 -0.1
Proposals 649 592 490 9.6 32.4 6,931 5,953 16.4
Northwest Territories 5 7 7 -28.6 -28.6 63 97 -35.1
Bankruptcies 2 1 6 100.0 -66.7 16 55 -70.9
Proposals 3 6 1 -50.0 200.0 47 42 11.9
Yukon 2 2 1 0.0 100.0 34 36 -5.6
Bankruptcies 1 1 0 0.0 n/a 13 13 0.0
Proposals 1 1 1 0.0 0.0 21 23 -8.7
Nunavut 0 0 1 n/a -100.0 4 7 -42.9
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 4 5 -20.0
Canada 12,187 11,523 10,294 5.8 18.4 137,642 126,962 8.4
Bankruptcies 4,903 4,669 4,687 5.0 4.6 57,274 58,117 -1.5
Proposals 7,284 6,854 5,607 6.3 29.9 80,368 68,845 16.7
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 255 261 217 -2.3 17.5 3,160 2,753 14.8
Bankruptcies 125 106 119 17.9 5.0 1,447 1,391 4.0
Proposals 130 155 98 -16.1 32.7 1,713 1,362 25.8
Prince Edward Island 42 66 43 -36.4 -2.3 734 711 3.2
Bankruptcies 21 31 25 -32.3 -16.0 386 413 -6.5
Proposals 21 35 18 -40.0 16.7 348 298 16.8
Nova Scotia 488 527 438 -7.4 11.4 5,875 5,532 6.2
Bankruptcies 239 295 293 -19.0 -18.4 3,292 3,483 -5.5
Proposals 249 232 145 7.3 71.7 2,583 2,049 26.1
New Brunswick 438 400 382 9.5 14.7 4,825 4,388 10.0
Bankruptcies 205 208 198 -1.4 3.5 2,366 2,241 5.6
Proposals 233 192 184 21.4 26.6 2,459 2,147 14.5
Quebec 3,902 3,420 3,426 14.1 13.9 42,424 41,667 1.8
Bankruptcies 1,848 1,620 1,753 14.1 5.4 20,238 21,435 -5.6
Proposals 2,054 1,800 1,673 14.1 22.8 22,186 20,232 9.7
Ontario 3,870 3,748 3,012 3.3 28.5 43,240 38,131 13.4
Bankruptcies 1,256 1,227 1,166 2.4 7.7 14,552 14,794 -1.6
Proposals 2,614 2,521 1,846 3.7 41.6 28,688 23,337 22.9
Manitoba 267 251 230 6.4 16.1 3,098 2,738 13.1
Bankruptcies 120 101 109 18.8 10.1 1,418 1,382 2.6
Proposals 147 150 121 -2.0 21.5 1,680 1,356 23.9
Saskatchewan 265 272 287 -2.6 -7.7 3,353 3,301 1.6
Bankruptcies 91 99 113 -8.1 -19.5 1,246 1,299 -4.1
Proposals 174 173 174 0.6 0.0 2,107 2,002 5.2
Alberta 1,411 1,398 1,124 0.9 25.5 16,181 14,045 15.2
Bankruptcies 461 459 348 0.4 32.5 5,449 4,899 11.2
Proposals 950 939 776 1.2 22.4 10,732 9,146 17.3
British Columbia 992 932 837 6.4 18.5 10,934 9,985 9.5
Bankruptcies 345 344 347 0.3 -0.6 4,044 4,061 -0.4
Proposals 647 588 490 10.0 32.0 6,890 5,924 16.3
Northwest Territories 3 7 7 -57.1 -57.1 61 97 -37.1
Bankruptcies 1 1 6 0.0 -83.3 15 55 -72.7
Proposals 2 6 1 -66.7 100.0 46 42 9.5
Yukon 2 2 1 0.0 100.0 34 36 -5.6
Bankruptcies 1 1 0 0.0 n/a 13 13 0.0
Proposals 1 1 1 0.0 0.0 21 23 -8.7
Nunavut 0 0 1 n/a -100.0 4 7 -42.9
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 4 5 -20.0
Canada 11,935 11,284 10,005 5.8 19.3 133,923 123,391 8.5
Bankruptcies 4,713 4,492 4,477 4.9 5.3 54,466 55,468 -1.8
Proposals 7,222 6,792 5,528 6.3 30.6 79,457 67,923 17.0
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 0 7 5 -100.0 -100.0 41 24 70.8
Bankruptcies 0 7 5 -100.0 -100.0 37 18 105.6
Proposals 0 0 0 n/a n/a 4 6 -33.3
Prince Edward Island 2 0 1 n/a 100.0 7 4 75.0
Bankruptcies 1 0 1 n/a 0.0 6 3 100.0
Proposals 1 0 0 n/a n/a 1 1 0.0
Nova Scotia 4 1 5 300.0 -20.0 53 49 8.2
Bankruptcies 2 1 3 100.0 -33.3 44 34 29.4
Proposals 2 0 2 n/a 0.0 9 15 -40.0
New Brunswick 4 1 5 300.0 -20.0 49 48 2.1
Bankruptcies 4 0 3 n/a 33.3 37 36 2.8
Proposals 0 1 2 -100.0 -100.0 12 12 0.0
Quebec 138 128 174 7.8 -20.7 2,131 2,077 2.6
Bankruptcies 106 93 125 14.0 -15.2 1,647 1,556 5.8
Proposals 32 35 49 -8.6 -34.7 484 521 -7.1
Ontario 65 68 71 -4.4 -8.5 950 913 4.1
Bankruptcies 50 50 54 0.0 -7.4 691 671 3.0
Proposals 15 18 17 -16.7 -11.8 259 242 7.0
Manitoba 3 4 4 -25.0 -25.0 35 33 6.1
Bankruptcies 3 4 4 -25.0 -25.0 31 29 6.9
Proposals 0 0 0 n/a n/a 4 4 0.0
Saskatchewan 11 4 9 175.0 22.2 97 114 -14.9
Bankruptcies 6 4 7 50.0 -14.3 56 77 -27.3
Proposals 5 0 2 n/a 150.0 41 37 10.8
Alberta 14 17 11 -17.6 27.3 222 202 9.9
Bankruptcies 10 13 4 -23.1 150.0 167 147 13.6
Proposals 4 4 7 0.0 -42.9 55 55 0.0
British Columbia 9 9 4 0.0 125.0 132 107 23.4
Bankruptcies 7 5 4 40.0 75.0 91 78 16.7
Proposals 2 4 0 -50.0 n/a 41 29 41.4
Northwest Territories 2 0 0 n/a n/a 2 0 n/a
Bankruptcies 1 0 0 n/a n/a 1 0 n/a
Proposals 1 0 0 n/a n/a 1 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 252 239 289 5.4 -12.8 3,719 3,571 4.1
Bankruptcies 190 177 210 7.3 -9.5 2,808 2,649 6.0
Proposals 62 62 79 0.0 -21.5 911 922 -1.2
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 0 3 4 -100.0 -100.0 14 14 0.0
Bankruptcies 0 3 4 -100.0 -100.0 10 8 25.0
Proposals 0 0 0 n/a n/a 4 6 -33.3
Prince Edward Island 2 0 0 n/a n/a 4 1 300.0
Bankruptcies 1 0 0 n/a n/a 3 1 200.0
Proposals 1 0 0 n/a n/a 1 0 n/a
Nova Scotia 2 0 5 n/a -60.0 27 24 12.5
Bankruptcies 0 0 3 n/a -100.0 20 16 25.0
Proposals 2 0 2 n/a 0.0 7 8 -12.5
New Brunswick 4 1 2 300.0 100.0 32 27 18.5
Bankruptcies 4 0 2 n/a 100.0 26 18 44.4
Proposals 0 1 0 -100.0 n/a 6 9 -33.3
Quebec 121 114 151 6.1 -19.9 1,864 1,847 0.9
Bankruptcies 95 82 110 15.9 -13.6 1,469 1,396 5.2
Proposals 26 32 41 -18.8 -36.6 395 451 -12.4
Ontario 38 25 40 52.0 -5.0 534 484 10.3
Bankruptcies 31 18 32 72.2 -3.1 397 372 6.7
Proposals 7 7 8 0.0 -12.5 137 112 22.3
Manitoba 1 4 2 -75.0 -50.0 11 6 83.3
Bankruptcies 1 4 2 -75.0 -50.0 10 5 100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Saskatchewan 2 0 0 n/a n/a 7 11 -36.4
Bankruptcies 1 0 0 n/a n/a 4 6 -33.3
Proposals 1 0 0 n/a n/a 3 5 -40.0
Alberta 7 11 5 -36.4 40.0 106 105 1.0
Bankruptcies 7 10 2 -30.0 250.0 82 72 13.9
Proposals 0 1 3 -100.0 -100.0 24 33 -27.3
British Columbia 6 4 0 50.0 n/a 61 42 45.2
Bankruptcies 5 2 0 150.0 n/a 37 25 48.0
Proposals 1 2 0 -50.0 n/a 24 17 41.2
Northwest Territories 1 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 1 0 0 n/a n/a 1 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 184 162 209 13.6 -12.0 2,661 2,561 3.9
Bankruptcies 145 119 155 21.8 -6.5 2,058 1,919 7.2
Proposals 39 43 54 -9.3 -27.8 603 642 -6.1
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 0 4 1 -100.0 -100.0 27 10 170.0
Bankruptcies 0 4 1 -100.0 -100.0 27 10 170.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Prince Edward Island 0 0 1 n/a -100.0 3 3 0.0
Bankruptcies 0 0 1 n/a -100.0 3 2 50.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 2 1 0 100.0 n/a 26 25 4.0
Bankruptcies 2 1 0 100.0 n/a 24 18 33.3
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 0 0 3 n/a -100.0 17 21 -19.0
Bankruptcies 0 0 1 n/a -100.0 11 18 -38.9
Proposals 0 0 2 n/a -100.0 6 3 100.0
Quebec 17 14 23 21.4 -26.1 267 230 16.1
Bankruptcies 11 11 15 0.0 -26.7 178 160 11.3
Proposals 6 3 8 100.0 -25.0 89 70 27.1
Ontario 27 43 31 -37.2 -12.9 416 429 -3.0
Bankruptcies 19 32 22 -40.6 -13.6 294 299 -1.7
Proposals 8 11 9 -27.3 -11.1 122 130 -6.2
Manitoba 2 0 2 n/a 0.0 24 27 -11.1
Bankruptcies 2 0 2 n/a 0.0 21 24 -12.5
Proposals 0 0 0 n/a n/a 3 3 0.0
Saskatchewan 9 4 9 125.0 0.0 90 103 -12.6
Bankruptcies 5 4 7 25.0 -28.6 52 71 -26.8
Proposals 4 0 2 n/a 100.0 38 32 18.8
Alberta 7 6 6 16.7 16.7 116 97 19.6
Bankruptcies 3 3 2 0.0 50.0 85 75 13.3
Proposals 4 3 4 33.3 0.0 31 22 40.9
British Columbia 3 5 4 -40.0 -25.0 71 65 9.2
Bankruptcies 2 3 4 -33.3 -50.0 54 53 1.9
Proposals 1 2 0 -50.0 n/a 17 12 41.7
Northwest Territories 1 0 0 n/a n/a 1 0 n/a
Bankruptcies 1 0 0 n/a n/a 1 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 68 77 80 -11.7 -15.0 1,058 1,010 4.8
Bankruptcies 45 58 55 -22.4 -18.2 750 730 2.7
Proposals 23 19 25 21.1 -8.0 308 280 10.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
secteur Volume % Change 12-Month Period Ending
September
2019
August
2019
September
2018
Aug. 2019
to
Sept. 2019
Sept. 2018
to
Sept. 2019
09-30-2019 09-30-2018 % Change
Agriculture, Forestry, Fishing and Hunting 5 7 7 -28.6 -28.6 59 68 -13.2
Bankruptcies 2 5 4 -60.0 -50.0 42 46 -8.7
Proposals 3 2 3 50.0 0.0 17 22 -22.7
Mining and Oil and Gas Extraction 3 1 0 200.0 n/a 45 29 55.2
Bankruptcies 1 1 0 0.0 n/a 29 18 61.1
Proposals 2 0 0 n/a n/a 16 11 45.5
Utilities 2 1 1 100.0 100.0 8 8 0.0
Bankruptcies 2 1 0 100.0 n/a 5 6 -16.7
Proposals 0 0 1 n/a -100.0 3 2 50.0
Construction 47 49 62 -4.1 -24.2 712 716 -0.6
Bankruptcies 33 36 45 -8.3 -26.7 533 510 4.5
Proposals 14 13 17 7.7 -17.6 179 206 -13.1
Manufacturing 19 24 29 -20.8 -34.5 319 315 1.3
Bankruptcies 16 16 20 0.0 -20.0 236 217 8.8
Proposals 3 8 9 -62.5 -66.7 83 98 -15.3
Wholesale Trade 13 16 15 -18.8 -13.3 179 163 9.8
Bankruptcies 10 10 8 0.0 25.0 129 121 6.6
Proposals 3 6 7 -50.0 -57.1 50 42 19.0
Retail Trade 28 15 35 86.7 -20.0 376 399 -5.8
Bankruptcies 23 12 27 91.7 -14.8 295 321 -8.1
Proposals 5 3 8 66.7 -37.5 81 78 3.8
Transportation and Warehousing 15 11 21 36.4 -28.6 213 224 -4.9
Bankruptcies 10 9 16 11.1 -37.5 159 170 -6.5
Proposals 5 2 5 150.0 0.0 54 54 0.0
Information and Cultural Industries 2 5 4 -60.0 -50.0 81 57 42.1
Bankruptcies 2 1 4 100.0 -50.0 58 46 26.1
Proposals 0 4 0 -100.0 n/a 23 11 109.1
Finance and Insurance 3 6 3 -50.0 0.0 74 58 27.6
Bankruptcies 3 4 3 -25.0 0.0 59 42 40.5
Proposals 0 2 0 -100.0 n/a 15 16 -6.3
Real Estate and Rental and Leasing 12 9 12 33.3 0.0 156 136 14.7
Bankruptcies 8 6 6 33.3 33.3 115 103 11.7
Proposals 4 3 6 33.3 -33.3 41 33 24.2
Professional, Scientific and Technical Services 30 12 12 150.0 150.0 299 248 20.6
Bankruptcies 21 11 9 90.9 133.3 236 185 27.6
Proposals 9 1 3 800.0 200.0 63 63 0.0
Management of Companies and Enterprises 6 4 5 50.0 20.0 94 84 11.9
Bankruptcies 5 4 4 25.0 25.0 73 66 10.6
Proposals 1 0 1 n/a 0.0 21 18 16.7
Administrative and Support, Waste Management and Remediation Services 14 14 15 0.0 -6.7 172 151 13.9
Bankruptcies 11 10 10 10.0 10.0 118 108 9.3
Proposals 3 4 5 -25.0 -40.0 54 43 25.6
Educational Services 2 5 0 -60.0 n/a 33 28 17.9
Bankruptcies 2 3 0 -33.3 n/a 24 21 14.3
Proposals 0 2 0 -100.0 n/a 9 7 28.6
Health Care and Social Assistance 8 4 6 100.0 33.3 88 81 8.6
Bankruptcies 5 3 6 66.7 -16.7 52 58 -10.3
Proposals 3 1 0 200.0 n/a 36 23 56.5
Arts, Entertainment and Recreation 5 8 8 -37.5 -37.5 73 82 -11.0
Bankruptcies 4 7 6 -42.9 -33.3 58 65 -10.8
Proposals 1 1 2 0.0 -50.0 15 17 -11.8
Accommodation and Food Services 30 30 37 0.0 -18.9 533 543 -1.8
Bankruptcies 27 22 30 22.7 -10.0 429 402 6.7
Proposals 3 8 7 -62.5 -57.1 104 141 -26.2
Other Services (except Public Administration) 8 18 17 -55.6 -52.9 204 178 14.6
Bankruptcies 5 16 12 -68.8 -58.3 157 142 10.6
Proposals 3 2 5 50.0 -40.0 47 36 30.6
Public Administration 0 0 0 n/a n/a 1 3 -66.7
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Total 252 239 289 5.4 -12.8 3,719 3,571 4.1
Bankruptcies 190 177 210 7.3 -9.5 2,808 2,649 6.0
Proposals 62 62 79 0.0 -21.5 911 922 -1.2
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