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Insolvency Statistics in Canada—January 2020

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

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
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Newfoundland and Labrador 166 228 212 -27.2 -21.7 3,216 2,809 14.5
Bankruptcies 72 95 84 -24.2 -14.3 1,489 1,372 8.5
Proposals 94 133 128 -29.3 -26.6 1,727 1,437 20.2
Prince Edward Island 54 59 57 -8.5 -5.3 756 747 1.2
Bankruptcies 31 34 35 -8.8 -11.4 391 439 -10.9
Proposals 23 25 22 -8.0 4.5 365 308 18.5
Nova Scotia 425 480 469 -11.5 -9.4 6,055 5,733 5.6
Bankruptcies 208 227 266 -8.4 -21.8 3,186 3,553 -10.3
Proposals 217 253 203 -14.2 6.9 2,869 2,180 31.6
New Brunswick 385 336 348 14.6 10.6 4,933 4,586 7.6
Bankruptcies 146 147 156 -0.7 -6.4 2,367 2,318 2.1
Proposals 239 189 192 26.5 24.5 2,566 2,268 13.1
Quebec 3,684 3,129 3,376 17.7 9.1 45,299 43,763 3.5
Bankruptcies 1,573 1,501 1,639 4.8 -4.0 21,592 22,701 -4.9
Proposals 2,111 1,628 1,737 29.7 21.5 23,707 21,062 12.6
Ontario 3,735 3,409 3,199 9.6 16.8 46,290 40,163 15.3
Bankruptcies 1,109 1,184 1,064 -6.3 4.2 15,274 15,367 -0.6
Proposals 2,626 2,225 2,135 18.0 23.0 31,016 24,796 25.1
Manitoba 284 255 218 11.4 30.3 3,251 2,891 12.5
Bankruptcies 86 90 86 -4.4 0.0 1,377 1,400 -1.6
Proposals 198 165 132 20.0 50.0 1,874 1,491 25.7
Saskatchewan 310 281 289 10.3 7.3 3,578 3,519 1.7
Bankruptcies 105 119 119 -11.8 -11.8 1,367 1,362 0.4
Proposals 205 162 170 26.5 20.6 2,211 2,157 2.5
Alberta 1,452 1,333 1,236 8.9 17.5 17,114 14,908 14.8
Bankruptcies 440 416 459 5.8 -4.1 5,725 5,158 11.0
Proposals 1,012 917 777 10.4 30.2 11,389 9,750 16.8
British Columbia 834 910 855 -8.4 -2.5 11,327 10,307 9.9
Bankruptcies 289 315 350 -8.3 -17.4 4,163 4,131 0.8
Proposals 545 595 505 -8.4 7.9 7,164 6,176 16.0
Northwest Territories 5 5 3 0.0 66.7 70 74 -5.4
Bankruptcies 2 2 0 0.0 n/a 12 41 -70.7
Proposals 3 3 3 0.0 0.0 58 33 75.8
Yukon 3 2 3 50.0 0.0 33 35 -5.7
Bankruptcies 1 1 1 0.0 0.0 13 13 0.0
Proposals 2 1 2 100.0 0.0 20 22 -9.1
Nunavut 0 0 0 n/a n/a 8 3 166.7
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 6 3 100.0
Canada 11,337 10,427 10,265 8.7 10.4 141,930 129,538 9.6
Bankruptcies 4,062 4,131 4,259 -1.7 -4.6 56,958 57,855 -1.6
Proposals 7,275 6,296 6,006 15.5 21.1 84,972 71,683 18.5
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Newfoundland and Labrador 166 225 210 -26.2 -21.0 3,177 2,784 14.1
Bankruptcies 72 92 82 -21.7 -12.2 1,456 1,351 7.8
Proposals 94 133 128 -29.3 -26.6 1,721 1,433 20.1
Prince Edward Island 53 57 57 -7.0 -7.0 745 744 0.1
Bankruptcies 30 32 35 -6.3 -14.3 381 437 -12.8
Proposals 23 25 22 -8.0 4.5 364 307 18.6
Nova Scotia 419 475 466 -11.8 -10.1 5,993 5,688 5.4
Bankruptcies 202 222 263 -9.0 -23.2 3,132 3,522 -11.1
Proposals 217 253 203 -14.2 6.9 2,861 2,166 32.1
New Brunswick 384 336 343 14.3 12.0 4,892 4,546 7.6
Bankruptcies 145 147 152 -1.4 -4.6 2,336 2,284 2.3
Proposals 239 189 191 26.5 25.1 2,556 2,262 13.0
Quebec 3,497 2,947 3,220 18.7 8.6 43,142 41,673 3.5
Bankruptcies 1,436 1,363 1,511 5.4 -5.0 19,963 21,107 -5.4
Proposals 2,061 1,584 1,709 30.1 20.6 23,179 20,566 12.7
Ontario 3,660 3,345 3,115 9.4 17.5 45,397 39,211 15.8
Bankruptcies 1,063 1,146 1,004 -7.2 5.9 14,636 14,672 -0.2
Proposals 2,597 2,199 2,111 18.1 23.0 30,761 24,539 25.4
Manitoba 283 250 213 13.2 32.9 3,216 2,863 12.3
Bankruptcies 85 86 81 -1.2 4.9 1,348 1,374 -1.9
Proposals 198 164 132 20.7 50.0 1,868 1,489 25.5
Saskatchewan 301 274 280 9.9 7.5 3,474 3,417 1.7
Bankruptcies 98 112 113 -12.5 -13.3 1,302 1,299 0.2
Proposals 203 162 167 25.3 21.6 2,172 2,118 2.5
Alberta 1,435 1,315 1,222 9.1 17.4 16,888 14,696 14.9
Bankruptcies 424 403 450 5.2 -5.8 5,563 4,992 11.4
Proposals 1,011 912 772 10.9 31.0 11,325 9,704 16.7
British Columbia 823 903 841 -8.9 -2.1 11,203 10,197 9.9
Bankruptcies 282 311 340 -9.3 -17.1 4,076 4,050 0.6
Proposals 541 592 501 -8.6 8.0 7,127 6,147 15.9
Northwest Territories 5 5 3 0.0 66.7 68 74 -8.1
Bankruptcies 2 2 0 0.0 n/a 11 41 -73.2
Proposals 3 3 3 0.0 0.0 57 33 72.7
Yukon 3 2 3 50.0 0.0 33 35 -5.7
Bankruptcies 1 1 1 0.0 0.0 13 13 0.0
Proposals 2 1 2 100.0 0.0 20 22 -9.1
Nunavut 0 0 0 n/a n/a 6 3 100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 6 3 100.0
Canada 11,029 10,134 9,973 8.8 10.6 138,234 125,931 9.8
Bankruptcies 3,840 3,917 4,032 -2.0 -4.8 54,217 55,142 -1.7
Proposals 7,189 6,217 5,941 15.6 21.0 84,017 70,789 18.7
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Newfoundland and Labrador 0 3 2 -100.0 -100.0 39 25 56.0
Bankruptcies 0 3 2 -100.0 -100.0 33 21 57.1
Proposals 0 0 0 n/a n/a 6 4 50.0
Prince Edward Island 1 2 0 -50.0 n/a 11 3 266.7
Bankruptcies 1 2 0 -50.0 n/a 10 2 400.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 6 5 3 20.0 100.0 62 45 37.8
Bankruptcies 6 5 3 20.0 100.0 54 31 74.2
Proposals 0 0 0 n/a n/a 8 14 -42.9
New Brunswick 1 0 5 n/a -80.0 41 40 2.5
Bankruptcies 1 0 4 n/a -75.0 31 34 -8.8
Proposals 0 0 1 n/a -100.0 10 6 66.7
Quebec 187 182 156 2.7 19.9 2,157 2,090 3.2
Bankruptcies 137 138 128 -0.7 7.0 1,629 1,594 2.2
Proposals 50 44 28 13.6 78.6 528 496 6.5
Ontario 75 64 84 17.2 -10.7 893 952 -6.2
Bankruptcies 46 38 60 21.1 -23.3 638 695 -8.2
Proposals 29 26 24 11.5 20.8 255 257 -0.8
Manitoba 1 5 5 -80.0 -80.0 35 28 25.0
Bankruptcies 1 4 5 -75.0 -80.0 29 26 11.5
Proposals 0 1 0 -100.0 n/a 6 2 200.0
Saskatchewan 9 7 9 28.6 0.0 104 102 2.0
Bankruptcies 7 7 6 0.0 16.7 65 63 3.2
Proposals 2 0 3 n/a -33.3 39 39 0.0
Alberta 17 18 14 -5.6 21.4 226 212 6.6
Bankruptcies 16 13 9 23.1 77.8 162 166 -2.4
Proposals 1 5 5 -80.0 -80.0 64 46 39.1
British Columbia 11 7 14 57.1 -21.4 124 110 12.7
Bankruptcies 7 4 10 75.0 -30.0 87 81 7.4
Proposals 4 3 4 33.3 0.0 37 29 27.6
Northwest Territories 0 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 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 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 308 293 292 5.1 5.5 3,696 3,607 2.5
Bankruptcies 222 214 227 3.7 -2.2 2,741 2,713 1.0
Proposals 86 79 65 8.9 32.3 955 894 6.8
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Newfoundland and Labrador 0 0 2 n/a -100.0 11 13 -15.4
Bankruptcies 0 0 2 n/a -100.0 8 9 -11.1
Proposals 0 0 0 n/a n/a 3 4 -25.0
Prince Edward Island 0 0 0 n/a n/a 4 1 300.0
Bankruptcies 0 0 0 n/a n/a 3 1 200.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 3 4 2 -25.0 50.0 32 22 45.5
Bankruptcies 3 4 2 -25.0 50.0 25 16 56.3
Proposals 0 0 0 n/a n/a 7 6 16.7
New Brunswick 1 0 2 n/a -50.0 28 20 40.0
Bankruptcies 1 0 2 n/a -50.0 22 18 22.2
Proposals 0 0 0 n/a n/a 6 2 200.0
Quebec 163 161 139 1.2 17.3 1,886 1,822 3.5
Bankruptcies 124 125 117 -0.8 6.0 1,460 1,413 3.3
Proposals 39 36 22 8.3 77.3 426 409 4.2
Ontario 43 37 52 16.2 -17.3 479 539 -11.1
Bankruptcies 35 22 37 59.1 -5.4 360 407 -11.5
Proposals 8 15 15 -46.7 -46.7 119 132 -9.8
Manitoba 0 3 0 -100.0 n/a 13 5 160.0
Bankruptcies 0 2 0 -100.0 n/a 11 4 175.0
Proposals 0 1 0 -100.0 n/a 2 1 100.0
Saskatchewan 2 0 1 n/a 100.0 9 9 0.0
Bankruptcies 2 0 1 n/a 100.0 6 5 20.0
Proposals 0 0 0 n/a n/a 3 4 -25.0
Alberta 13 10 2 30.0 550.0 128 96 33.3
Bankruptcies 12 7 1 71.4 1100.0 94 76 23.7
Proposals 1 3 1 -66.7 0.0 34 20 70.0
British Columbia 3 0 7 n/a -57.1 50 42 19.0
Bankruptcies 2 0 3 n/a -33.3 35 26 34.6
Proposals 1 0 4 n/a -75.0 15 16 -6.3
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 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 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 228 215 207 6.0 10.1 2,643 2,569 2.9
Bankruptcies 179 160 165 11.9 8.5 2,026 1,975 2.6
Proposals 49 55 42 -10.9 16.7 617 594 3.9
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Newfoundland and Labrador 0 3 0 -100.0 n/a 28 12 133.3
Bankruptcies 0 3 0 -100.0 n/a 25 12 108.3
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 1 2 0 -50.0 n/a 7 2 250.0
Bankruptcies 1 2 0 -50.0 n/a 7 1 600.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 3 1 1 200.0 200.0 30 23 30.4
Bankruptcies 3 1 1 200.0 200.0 29 15 93.3
Proposals 0 0 0 n/a n/a 1 8 -87.5
New Brunswick 0 0 3 n/a -100.0 13 20 -35.0
Bankruptcies 0 0 2 n/a -100.0 9 16 -43.8
Proposals 0 0 1 n/a -100.0 4 4 0.0
Quebec 24 21 17 14.3 41.2 271 268 1.1
Bankruptcies 13 13 11 0.0 18.2 169 181 -6.6
Proposals 11 8 6 37.5 83.3 102 87 17.2
Ontario 32 27 32 18.5 0.0 414 413 0.2
Bankruptcies 11 16 23 -31.3 -52.2 278 288 -3.5
Proposals 21 11 9 90.9 133.3 136 125 8.8
Manitoba 1 2 5 -50.0 -80.0 22 23 -4.3
Bankruptcies 1 2 5 -50.0 -80.0 18 22 -18.2
Proposals 0 0 0 n/a n/a 4 1 300.0
Saskatchewan 7 7 8 0.0 -12.5 95 93 2.2
Bankruptcies 5 7 5 -28.6 0.0 59 58 1.7
Proposals 2 0 3 n/a -33.3 36 35 2.9
Alberta 4 8 12 -50.0 -66.7 98 116 -15.5
Bankruptcies 4 6 8 -33.3 -50.0 68 90 -24.4
Proposals 0 2 4 -100.0 -100.0 30 26 15.4
British Columbia 8 7 7 14.3 14.3 74 68 8.8
Bankruptcies 5 4 7 25.0 -28.6 52 55 -5.5
Proposals 3 3 0 0.0 n/a 22 13 69.2
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 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 80 78 85 2.6 -5.9 1,053 1,038 1.4
Bankruptcies 43 54 62 -20.4 -30.6 715 738 -3.1
Proposals 37 24 23 54.2 60.9 338 300 12.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
January 2020 December 2019 January 2019 Dec. 2019 to Jan. 2020 Jan. 2019 to Jan. 2020 01-31-2020 01-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting 9 2 11 350.0 -18.2 62 69 -10.1
Bankruptcies 5 2 10 150.0 -50.0 41 51 -19.6
Proposals 4 0 1 n/a 300.0 21 18 16.7
Mining and Oil and Gas Extraction 1 2 5 -50.0 -80.0 38 27 40.7
Bankruptcies 1 2 1 -50.0 0.0 25 16 56.3
Proposals 0 0 4 n/a -100.0 13 11 18.2
Utilities 0 1 0 -100.0 n/a 7 8 -12.5
Bankruptcies 0 0 0 n/a n/a 4 5 -20.0
Proposals 0 1 0 -100.0 n/a 3 3 0.0
Construction 34 38 49 -10.5 -30.6 669 709 -5.6
Bankruptcies 23 26 34 -11.5 -32.4 488 519 -6.0
Proposals 11 12 15 -8.3 -26.7 181 190 -4.7
Manufacturing 25 40 22 -37.5 13.6 341 301 13.3
Bankruptcies 13 27 16 -51.9 -18.8 240 219 9.6
Proposals 12 13 6 -7.7 100.0 101 82 23.2
Wholesale Trade 15 18 8 -16.7 87.5 198 155 27.7
Bankruptcies 11 10 6 10.0 83.3 137 119 15.1
Proposals 4 8 2 -50.0 100.0 61 36 69.4
Retail Trade 40 37 31 8.1 29.0 393 401 -2.0
Bankruptcies 29 25 24 16.0 20.8 298 318 -6.3
Proposals 11 12 7 -8.3 57.1 95 83 14.5
Transportation and Warehousing 28 23 21 21.7 33.3 226 235 -3.8
Bankruptcies 17 19 18 -10.5 -5.6 163 181 -9.9
Proposals 11 4 3 175.0 266.7 63 54 16.7
Information and Cultural Industries 9 5 6 80.0 50.0 83 62 33.9
Bankruptcies 6 4 5 50.0 20.0 61 47 29.8
Proposals 3 1 1 200.0 200.0 22 15 46.7
Finance and Insurance 3 3 5 0.0 -40.0 61 65 -6.2
Bankruptcies 2 3 5 -33.3 -60.0 49 50 -2.0
Proposals 1 0 0 n/a n/a 12 15 -20.0
Real Estate and Rental and Leasing 14 20 20 -30.0 -30.0 153 164 -6.7
Bankruptcies 12 14 19 -14.3 -36.8 112 119 -5.9
Proposals 2 6 1 -66.7 100.0 41 45 -8.9
Professional, Scientific and Technical Services 18 15 23 20.0 -21.7 280 254 10.2
Bankruptcies 12 12 14 0.0 -14.3 222 191 16.2
Proposals 6 3 9 100.0 -33.3 58 63 -7.9
Management of Companies and Enterprises 7 5 7 40.0 0.0 84 82 2.4
Bankruptcies 5 5 6 0.0 -16.7 67 67 0.0
Proposals 2 0 1 n/a 100.0 17 15 13.3
Administrative and Support, Waste Management and Remediation Services 12 15 13 -20.0 -7.7 174 163 6.7
Bankruptcies 8 13 8 -38.5 0.0 124 113 9.7
Proposals 4 2 5 100.0 -20.0 50 50 0.0
Educational Services 4 1 1 300.0 300.0 36 28 28.6
Bankruptcies 3 1 0 200.0 n/a 26 20 30.0
Proposals 1 0 1 n/a 0.0 10 8 25.0
Health Care and Social Assistance 8 1 8 700.0 0.0 85 86 -1.2
Bankruptcies 6 1 6 500.0 0.0 58 53 9.4
Proposals 2 0 2 n/a 0.0 27 33 -18.2
Arts, Entertainment and Recreation 13 7 7 85.7 85.7 84 63 33.3
Bankruptcies 11 5 7 120.0 57.1 66 51 29.4
Proposals 2 2 0 0.0 n/a 18 12 50.0
Accommodation and Food Services 47 43 43 9.3 9.3 510 543 -6.1
Bankruptcies 38 34 40 11.8 -5.0 398 424 -6.1
Proposals 9 9 3 0.0 200.0 112 119 -5.9
Other Services (except Public Administration) 21 17 12 23.5 75.0 212 189 12.2
Bankruptcies 20 11 8 81.8 150.0 162 148 9.5
Proposals 1 6 4 -83.3 -75.0 50 41 22.0
Public Administration 0 0 0 n/a n/a 0 3 -100.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Total 308 293 292 5.1 5.5 3,696 3,607 2.5
Bankruptcies 222 214 227 3.7 -2.2 2,741 2,713 1.0
Proposals 86 79 65 8.9 32.3 955 894 6.8
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