Insolvency Statistics in Canada—October 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
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Newfoundland and Labrador 264 255 241 3.5 9.5 3,224 2,763 16.7
Bankruptcies 131 125 111 4.8 18.0 1,504 1,393 8.0
Proposals 133 130 130 2.3 2.3 1,720 1,370 25.5
Prince Edward Island 77 44 64 75.0 20.3 754 726 3.9
Bankruptcies 34 22 34 54.5 0.0 392 422 -7.1
Proposals 43 22 30 95.5 43.3 362 304 19.1
Nova Scotia 606 492 516 23.2 17.4 6,018 5,597 7.5
Bankruptcies 301 241 312 24.9 -3.5 3,325 3,520 -5.5
Proposals 305 251 204 21.5 49.5 2,693 2,077 29.7
New Brunswick 471 442 411 6.6 14.6 4,934 4,474 10.3
Bankruptcies 227 209 204 8.6 11.3 2,426 2,286 6.1
Proposals 244 233 207 4.7 17.9 2,508 2,188 14.6
Quebec 4,514 4,040 4,198 11.7 7.5 44,871 44,090 1.8
Bankruptcies 2,115 1,954 2,207 8.2 -4.2 21,793 23,075 -5.6
Proposals 2,399 2,086 1,991 15.0 20.5 23,078 21,015 9.8
Ontario 4,315 3,935 3,570 9.7 20.9 44,935 39,265 14.4
Bankruptcies 1,355 1,306 1,357 3.8 -0.1 15,241 15,428 -1.2
Proposals 2,960 2,629 2,213 12.6 33.8 29,694 23,837 24.6
Manitoba 302 270 307 11.9 -1.6 3,128 2,788 12.2
Bankruptcies 120 123 154 -2.4 -22.1 1,415 1,410 0.4
Proposals 182 147 153 23.8 19.0 1,713 1,378 24.3
Saskatchewan 372 276 346 34.8 7.5 3,476 3,455 0.6
Bankruptcies 166 97 125 71.1 32.8 1,343 1,358 -1.1
Proposals 206 179 221 15.1 -6.8 2,133 2,097 1.7
Alberta 1,504 1,425 1,363 5.5 10.3 16,544 14,394 14.9
Bankruptcies 501 471 460 6.4 8.9 5,657 5,045 12.1
Proposals 1,003 954 903 5.1 11.1 10,887 9,349 16.5
British Columbia 1,077 1,001 940 7.6 14.6 11,203 10,254 9.3
Bankruptcies 395 352 358 12.2 10.3 4,172 4,199 -0.6
Proposals 682 649 582 5.1 17.2 7,031 6,055 16.1
Northwest Territories 7 5 2 40.0 250.0 68 90 -24.4
Bankruptcies 0 2 0 -100.0 n/a 16 47 -66.0
Proposals 7 3 2 133.3 250.0 52 43 20.9
Yukon 2 2 2 0.0 0.0 34 35 -2.9
Bankruptcies 0 1 1 -100.0 -100.0 12 11 9.1
Proposals 2 1 1 100.0 100.0 22 24 -8.3
Nunavut 1 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 1 0 0 n/a n/a 5 4 25.0
Canada 13,512 12,187 11,960 10.9 13.0 139,194 127,937 8.8
Bankruptcies 5,345 4,903 5,323 9.0 0.4 57,296 58,196 -1.5
Proposals 8,167 7,284 6,637 12.1 23.1 81,898 69,741 17.4
Table 2: Insolvencies Filed by Consumers
Volume % Change 12-Month Period Ending
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Newfoundland and Labrador 262 255 239 2.7 9.6 3,183 2,740 16.2
Bankruptcies 131 125 109 4.8 20.2 1,469 1,373 7.0
Proposals 131 130 130 0.8 0.8 1,714 1,367 25.4
Prince Edward Island 77 42 64 83.3 20.3 747 722 3.5
Bankruptcies 34 21 34 61.9 0.0 386 419 -7.9
Proposals 43 21 30 104.8 43.3 361 303 19.1
Nova Scotia 603 488 514 23.6 17.3 5,964 5,550 7.5
Bankruptcies 298 239 310 24.7 -3.9 3,280 3,487 -5.9
Proposals 305 249 204 22.5 49.5 2,684 2,063 30.1
New Brunswick 469 438 406 7.1 15.5 4,888 4,427 10.4
Bankruptcies 225 205 200 9.8 12.5 2,391 2,251 6.2
Proposals 244 233 206 4.7 18.4 2,497 2,176 14.8
Quebec 4,329 3,902 4,022 10.9 7.6 42,731 42,025 1.7
Bankruptcies 1,983 1,848 2,071 7.3 -4.2 20,150 21,528 -6.4
Proposals 2,346 2,054 1,951 14.2 20.2 22,581 20,497 10.2
Ontario 4,247 3,870 3,481 9.7 22.0 44,006 38,348 14.8
Bankruptcies 1,308 1,256 1,292 4.1 1.2 14,568 14,759 -1.3
Proposals 2,939 2,614 2,189 12.4 34.3 29,438 23,589 24.8
Manitoba 299 267 305 12.0 -2.0 3,092 2,754 12.3
Bankruptcies 118 120 152 -1.7 -22.4 1,384 1,380 0.3
Proposals 181 147 153 23.1 18.3 1,708 1,374 24.3
Saskatchewan 355 265 335 34.0 6.0 3,373 3,347 0.8
Bankruptcies 154 91 116 69.2 32.8 1,284 1,286 -0.2
Proposals 201 174 219 15.5 -8.2 2,089 2,061 1.4
Alberta 1,480 1,411 1,346 4.9 10.0 16,315 14,192 15.0
Bankruptcies 486 461 447 5.4 8.7 5,488 4,896 12.1
Proposals 994 950 899 4.6 10.6 10,827 9,296 16.5
British Columbia 1,069 992 925 7.8 15.6 11,078 10,137 9.3
Bankruptcies 390 345 351 13.0 11.1 4,083 4,118 -0.8
Proposals 679 647 574 4.9 18.3 6,995 6,019 16.2
Northwest Territories 7 3 2 133.3 250.0 66 90 -26.7
Bankruptcies 0 1 0 -100.0 n/a 15 47 -68.1
Proposals 7 2 2 250.0 250.0 51 43 18.6
Yukon 2 2 2 0.0 0.0 34 35 -2.9
Bankruptcies 0 1 1 -100.0 -100.0 12 11 9.1
Proposals 2 1 1 100.0 100.0 22 24 -8.3
Nunavut 1 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 1 0 0 n/a n/a 5 4 25.0
Canada 13,200 11,935 11,641 10.6 13.4 135,482 124,373 8.9
Bankruptcies 5,127 4,713 5,083 8.8 0.9 54,510 55,557 -1.9
Proposals 8,073 7,222 6,558 11.8 23.1 80,972 68,816 17.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Newfoundland and Labrador 2 0 2 n/a 0.0 41 23 78.3
Bankruptcies 0 0 2 n/a -100.0 35 20 75.0
Proposals 2 0 0 n/a n/a 6 3 100.0
Prince Edward Island 0 2 0 -100.0 n/a 7 4 75.0
Bankruptcies 0 1 0 -100.0 n/a 6 3 100.0
Proposals 0 1 0 -100.0 n/a 1 1 0.0
Nova Scotia 3 4 2 -25.0 50.0 54 47 14.9
Bankruptcies 3 2 2 50.0 50.0 45 33 36.4
Proposals 0 2 0 -100.0 n/a 9 14 -35.7
New Brunswick 2 4 5 -50.0 -60.0 46 47 -2.1
Bankruptcies 2 4 4 -50.0 -50.0 35 35 0.0
Proposals 0 0 1 n/a -100.0 11 12 -8.3
Quebec 185 138 176 34.1 5.1 2,140 2,065 3.6
Bankruptcies 132 106 136 24.5 -2.9 1,643 1,547 6.2
Proposals 53 32 40 65.6 32.5 497 518 -4.1
Ontario 68 65 89 4.6 -23.6 929 917 1.3
Bankruptcies 47 50 65 -6.0 -27.7 673 669 0.6
Proposals 21 15 24 40.0 -12.5 256 248 3.2
Manitoba 3 3 2 0.0 50.0 36 34 5.9
Bankruptcies 2 3 2 -33.3 0.0 31 30 3.3
Proposals 1 0 0 n/a n/a 5 4 25.0
Saskatchewan 17 11 11 54.5 54.5 103 108 -4.6
Bankruptcies 12 6 9 100.0 33.3 59 72 -18.1
Proposals 5 5 2 0.0 150.0 44 36 22.2
Alberta 24 14 17 71.4 41.2 229 202 13.4
Bankruptcies 15 10 13 50.0 15.4 169 149 13.4
Proposals 9 4 4 125.0 125.0 60 53 13.2
British Columbia 8 9 15 -11.1 -46.7 125 117 6.8
Bankruptcies 5 7 7 -28.6 -28.6 89 81 9.9
Proposals 3 2 8 50.0 -62.5 36 36 0.0
Northwest Territories 0 2 0 -100.0 n/a 2 0 n/a
Bankruptcies 0 1 0 -100.0 n/a 1 0 n/a
Proposals 0 1 0 -100.0 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 312 252 319 23.8 -2.2 3,712 3,564 4.2
Bankruptcies 218 190 240 14.7 -9.2 2,786 2,639 5.6
Proposals 94 62 79 51.6 19.0 926 925 0.1
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Newfoundland and Labrador 1 0 2 n/a -50.0 13 13 0.0
Bankruptcies 0 0 2 n/a -100.0 8 10 -20.0
Proposals 1 0 0 n/a n/a 5 3 66.7
Prince Edward Island 0 2 0 -100.0 n/a 4 1 300.0
Bankruptcies 0 1 0 -100.0 n/a 3 1 200.0
Proposals 0 1 0 -100.0 n/a 1 0 n/a
Nova Scotia 1 2 1 -50.0 0.0 27 23 17.4
Bankruptcies 1 0 1 n/a 0.0 20 16 25.0
Proposals 0 2 0 -100.0 n/a 7 7 0.0
New Brunswick 1 4 4 -75.0 -75.0 29 28 3.6
Bankruptcies 1 4 3 -75.0 -66.7 24 18 33.3
Proposals 0 0 1 n/a -100.0 5 10 -50.0
Quebec 150 121 150 24.0 0.0 1,864 1,828 2.0
Bankruptcies 114 95 118 20.0 -3.4 1,465 1,387 5.6
Proposals 36 26 32 38.5 12.5 399 441 -9.5
Ontario 29 38 55 -23.7 -47.3 508 497 2.2
Bankruptcies 23 31 42 -25.8 -45.2 378 381 -0.8
Proposals 6 7 13 -14.3 -53.8 130 116 12.1
Manitoba 0 1 0 -100.0 n/a 11 6 83.3
Bankruptcies 0 1 0 -100.0 n/a 10 5 100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Saskatchewan 1 2 1 -50.0 0.0 7 11 -36.4
Bankruptcies 1 1 1 0.0 0.0 4 7 -42.9
Proposals 0 1 0 -100.0 n/a 3 4 -25.0
Alberta 16 7 4 128.6 300.0 118 101 16.8
Bankruptcies 12 7 3 71.4 300.0 91 71 28.2
Proposals 4 0 1 n/a 300.0 27 30 -10.0
British Columbia 2 6 8 -66.7 -75.0 55 47 17.0
Bankruptcies 1 5 2 -80.0 -50.0 36 25 44.0
Proposals 1 1 6 0.0 -83.3 19 22 -13.6
Northwest Territories 0 1 0 -100.0 n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 1 0 -100.0 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 201 184 225 9.2 -10.7 2,637 2,555 3.2
Bankruptcies 153 145 172 5.5 -11.0 2,039 1,921 6.1
Proposals 48 39 53 23.1 -9.4 598 634 -5.7
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Newfoundland and Labrador 1 0 0 n/a n/a 28 10 180.0
Bankruptcies 0 0 0 n/a n/a 27 10 170.0
Proposals 1 0 0 n/a n/a 1 0 n/a
Prince Edward Island 0 0 0 n/a n/a 3 3 0.0
Bankruptcies 0 0 0 n/a n/a 3 2 50.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 2 2 1 0.0 100.0 27 24 12.5
Bankruptcies 2 2 1 0.0 100.0 25 17 47.1
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 1 0 1 n/a 0.0 17 19 -10.5
Bankruptcies 1 0 1 n/a 0.0 11 17 -35.3
Proposals 0 0 0 n/a n/a 6 2 200.0
Quebec 35 17 26 105.9 34.6 276 237 16.5
Bankruptcies 18 11 18 63.6 0.0 178 160 11.3
Proposals 17 6 8 183.3 112.5 98 77 27.3
Ontario 39 27 34 44.4 14.7 421 420 0.2
Bankruptcies 24 19 23 26.3 4.3 295 288 2.4
Proposals 15 8 11 87.5 36.4 126 132 -4.5
Manitoba 3 2 2 50.0 50.0 25 28 -10.7
Bankruptcies 2 2 2 0.0 0.0 21 25 -16.0
Proposals 1 0 0 n/a n/a 4 3 33.3
Saskatchewan 16 9 10 77.8 60.0 96 97 -1.0
Bankruptcies 11 5 8 120.0 37.5 55 65 -15.4
Proposals 5 4 2 25.0 150.0 41 32 28.1
Alberta 8 7 13 14.3 -38.5 111 101 9.9
Bankruptcies 3 3 10 0.0 -70.0 78 78 0.0
Proposals 5 4 3 25.0 66.7 33 23 43.5
British Columbia 6 3 7 100.0 -14.3 70 70 0.0
Bankruptcies 4 2 5 100.0 -20.0 53 56 -5.4
Proposals 2 1 2 100.0 0.0 17 14 21.4
Northwest Territories 0 1 0 -100.0 n/a 1 0 n/a
Bankruptcies 0 1 0 -100.0 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 111 68 94 63.2 18.1 1,075 1,009 6.5
Bankruptcies 65 45 68 44.4 -4.4 747 718 4.0
Proposals 46 23 26 100.0 76.9 328 291 12.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
secteur Volume % Change 12-Month Period Ending
October
2019
September
2019
October
2018
Sept. 2019
to
Oct. 2019
Oct. 2018
to
Oct. 2019
10-31-2019 10-31-2018 % Change
Agriculture, Forestry, Fishing and Hunting 10 5 4 100.0 150.0 65 71 -8.5
Bankruptcies 7 2 2 250.0 250.0 47 47 0.0
Proposals 3 3 2 0.0 50.0 18 24 -25.0
Mining and Oil and Gas Extraction 4 3 2 33.3 100.0 47 27 74.1
Bankruptcies 0 1 0 -100.0 n/a 29 15 93.3
Proposals 4 2 2 100.0 100.0 18 12 50.0
Utilities 0 2 0 -100.0 n/a 8 7 14.3
Bankruptcies 0 2 0 -100.0 n/a 5 5 0.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Construction 56 47 65 19.1 -13.8 703 711 -1.1
Bankruptcies 38 33 49 15.2 -22.4 522 509 2.6
Proposals 18 14 16 28.6 12.5 181 202 -10.4
Manufacturing 27 19 23 42.1 17.4 323 307 5.2
Bankruptcies 18 16 16 12.5 12.5 238 207 15.0
Proposals 9 3 7 200.0 28.6 85 100 -15.0
Wholesale Trade 13 13 6 0.0 116.7 186 160 16.3
Bankruptcies 10 10 6 0.0 66.7 133 121 9.9
Proposals 3 3 0 0.0 n/a 53 39 35.9
Retail Trade 33 28 46 17.9 -28.3 363 408 -11.0
Bankruptcies 22 23 37 -4.3 -40.5 280 331 -15.4
Proposals 11 5 9 120.0 22.2 83 77 7.8
Transportation and Warehousing 19 15 23 26.7 -17.4 209 230 -9.1
Bankruptcies 15 10 19 50.0 -21.1 155 176 -11.9
Proposals 4 5 4 -20.0 0.0 54 54 0.0
Information and Cultural Industries 5 2 9 150.0 -44.4 77 62 24.2
Bankruptcies 4 2 6 100.0 -33.3 56 51 9.8
Proposals 1 0 3 n/a -66.7 21 11 90.9
Finance and Insurance 4 3 8 33.3 -50.0 70 57 22.8
Bankruptcies 3 3 6 0.0 -50.0 56 41 36.6
Proposals 1 0 2 n/a -50.0 14 16 -12.5
Real Estate and Rental and Leasing 15 12 17 25.0 -11.8 154 146 5.5
Bankruptcies 11 8 9 37.5 22.2 117 106 10.4
Proposals 4 4 8 0.0 -50.0 37 40 -7.5
Professional, Scientific and Technical Services 20 30 21 -33.3 -4.8 298 247 20.6
Bankruptcies 16 21 19 -23.8 -15.8 233 186 25.3
Proposals 4 9 2 -55.6 100.0 65 61 6.6
Management of Companies and Enterprises 6 6 8 0.0 -25.0 92 85 8.2
Bankruptcies 6 5 7 20.0 -14.3 72 69 4.3
Proposals 0 1 1 -100.0 -100.0 20 16 25.0
Administrative and Support, Waste Management and Remediation Services 18 14 17 28.6 5.9 173 158 9.5
Bankruptcies 13 11 10 18.2 30.0 121 111 9.0
Proposals 5 3 7 66.7 -28.6 52 47 10.6
Educational Services 5 2 2 150.0 150.0 36 26 38.5
Bankruptcies 3 2 2 50.0 50.0 25 20 25.0
Proposals 2 0 0 n/a n/a 11 6 83.3
Health Care and Social Assistance 12 8 6 50.0 100.0 94 80 17.5
Bankruptcies 7 5 2 40.0 250.0 57 53 7.5
Proposals 5 3 4 66.7 25.0 37 27 37.0
Arts, Entertainment and Recreation 4 5 3 -20.0 33.3 74 76 -2.6
Bankruptcies 2 4 3 -50.0 -33.3 57 61 -6.6
Proposals 2 1 0 100.0 n/a 17 15 13.3
Accommodation and Food Services 35 30 37 16.7 -5.4 531 522 1.7
Bankruptcies 24 27 31 -11.1 -22.6 422 387 9.0
Proposals 11 3 6 266.7 83.3 109 135 -19.3
Other Services (except Public Administration) 26 8 22 225.0 18.2 208 181 14.9
Bankruptcies 19 5 16 280.0 18.8 160 141 13.5
Proposals 7 3 6 133.3 16.7 48 40 20.0
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 312 252 319 23.8 -2.2 3,712 3,564 4.2
Bankruptcies 218 190 240 14.7 -9.2 2,786 2,639 5.6
Proposals 94 62 79 51.6 19.0 926 925 0.1
Date modified: