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Insolvency Statistics in Canada—March 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
March 2020 Febrary 2020 March 2019 Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 228 230 289 -0.9 -21.1 3,114 2,903 7.3
Bankruptcies 99 99 118 0.0 -16.1 1,445 1,407 2.7
Proposals 129 131 171 -1.5 -24.6 1,669 1,496 11.6
Prince Edward Island 42 43 60 -2.3 -30.0 727 714 1.8
Bankruptcies 23 27 30 -14.8 -23.3 384 408 -5.9
Proposals 19 16 30 18.8 -36.7 343 306 12.1
Nova Scotia 400 452 533 -11.5 -25.0 5,981 5,722 4.5
Bankruptcies 176 209 302 -15.8 -41.7 3,050 3,504 -13.0
Proposals 224 243 231 -7.8 -3.0 2,931 2,218 32.1
New Brunswick 409 356 414 14.9 -1.2 4,947 4,669 6.0
Bankruptcies 173 137 221 26.3 -21.7 2,304 2,365 -2.6
Proposals 236 219 193 7.8 22.3 2,643 2,304 14.7
Quebec 3,407 3,770 4,094 -9.6 -16.8 44,681 43,701 2.2
Bankruptcies 1,416 1,638 1,870 -13.6 -24.3 21,006 22,382 -6.1
Proposals 1,991 2,132 2,224 -6.6 -10.5 23,675 21,319 11.1
Ontario 3,824 3,837 3,927 -0.3 -2.6 46,740 40,696 14.9
Bankruptcies 1,105 1,066 1,307 3.7 -15.5 15,069 15,150 -0.5
Proposals 2,719 2,771 2,620 -1.9 3.8 31,671 25,546 24.0
Manitoba 240 279 277 -14.0 -13.4 3,272 2,988 9.5
Bankruptcies 79 69 122 14.5 -35.2 1,309 1,423 -8.0
Proposals 161 210 155 -23.3 3.9 1,963 1,565 25.4
Saskatchewan 245 306 317 -19.9 -22.7 3,558 3,559 0.0
Bankruptcies 101 115 112 -12.2 -9.8 1,368 1,370 -0.1
Proposals 144 191 205 -24.6 -29.8 2,190 2,189 0.0
Alberta 1,491 1,402 1,455 6.3 2.5 17,247 15,294 12.8
Bankruptcies 410 398 491 3.0 -16.5 5,563 5,289 5.2
Proposals 1,081 1,004 964 7.7 12.1 11,684 10,005 16.8
British Columbia 906 895 950 1.2 -4.6 11,389 10,375 9.8
Bankruptcies 331 341 351 -2.9 -5.7 4,179 4,089 2.2
Proposals 575 554 599 3.8 -4.0 7,210 6,286 14.7
Northwest Territories 6 4 6 50.0 0.0 66 71 -7.0
Bankruptcies 3 0 2 n/a 50.0 12 36 -66.7
Proposals 3 4 4 -25.0 -25.0 54 35 54.3
Yukon 0 1 1 -100.0 -100.0 31 31 0.0
Bankruptcies 0 1 0 -100.0 n/a 13 11 18.2
Proposals 0 0 1 n/a -100.0 18 20 -10.0
Nunavut 0 0 2 n/a -100.0 4 7 -42.9
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 2 n/a -100.0 2 7 -71.4
Canada 11,198 11,575 12,325 -3.3 -9.1 141,757 130,730 8.4
Bankruptcies 3,916 4,100 4,926 -4.5 -20.5 55,704 57,434 -3.0
Proposals 7,282 7,475 7,399 -2.6 -1.6 86,053 73,296 17.4
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
March 2020 Febrary 2020 March 2019 Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 228 228 286 0.0 -20.3 3,081 2,873 7.2
Bankruptcies 99 97 115 2.1 -13.9 1,418 1,381 2.7
Proposals 129 131 171 -1.5 -24.6 1,663 1,492 11.5
Prince Edward Island 42 43 60 -2.3 -30.0 716 711 0.7
Bankruptcies 23 27 30 -14.8 -23.3 374 406 -7.9
Proposals 19 16 30 18.8 -36.7 342 305 12.1
Nova Scotia 398 448 530 -11.2 -24.9 5,922 5,679 4.3
Bankruptcies 174 207 299 -15.9 -41.8 3,000 3,472 -13.6
Proposals 224 241 231 -7.1 -3.0 2,922 2,207 32.4
New Brunswick 409 354 408 15.5 0.2 4,912 4,624 6.2
Bankruptcies 173 135 217 28.1 -20.3 2,276 2,329 -2.3
Proposals 236 219 191 7.8 23.6 2,636 2,295 14.9
Quebec 3,260 3,578 3,882 -8.9 -16.0 42,603 41,590 2.4
Bankruptcies 1,312 1,494 1,700 -12.2 -22.8 19,464 20,762 -6.3
Proposals 1,948 2,084 2,182 -6.5 -10.7 23,139 20,828 11.1
Ontario 3,761 3,753 3,831 0.2 -1.8 45,855 39,755 15.3
Bankruptcies 1,061 1,011 1,234 4.9 -14.0 14,448 14,466 -0.1
Proposals 2,700 2,742 2,597 -1.5 4.0 31,407 25,289 24.2
Manitoba 233 278 276 -16.2 -15.6 3,231 2,961 9.1
Bankruptcies 77 68 121 13.2 -36.4 1,279 1,398 -8.5
Proposals 156 210 155 -25.7 0.6 1,952 1,563 24.9
Saskatchewan 240 294 311 -18.4 -22.8 3,451 3,464 -0.4
Bankruptcies 96 104 111 -7.7 -13.5 1,293 1,314 -1.6
Proposals 144 190 200 -24.2 -28.0 2,158 2,150 0.4
Alberta 1,477 1,384 1,430 6.7 3.3 17,037 15,073 13.0
Bankruptcies 397 385 473 3.1 -16.1 5,410 5,114 5.8
Proposals 1,080 999 957 8.1 12.9 11,627 9,959 16.7
British Columbia 893 886 940 0.8 -5.0 11,261 10,269 9.7
Bankruptcies 326 338 343 -3.6 -5.0 4,095 4,015 2.0
Proposals 567 548 597 3.5 -5.0 7,166 6,254 14.6
Northwest Territories 6 4 6 50.0 0.0 64 71 -9.9
Bankruptcies 3 0 2 n/a 50.0 11 36 -69.4
Proposals 3 4 4 -25.0 -25.0 53 35 51.4
Yukon 0 1 1 -100.0 -100.0 31 31 0.0
Bankruptcies 0 1 0 -100.0 n/a 13 11 18.2
Proposals 0 0 1 n/a -100.0 18 20 -10.0
Nunavut 0 0 2 n/a -100.0 2 7 -71.4
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 2 n/a -100.0 2 7 -71.4
Canada 10,947 11,251 11,963 -2.7 -8.5 138,166 127,108 8.7
Bankruptcies 3,741 3,867 4,645 -3.3 -19.5 53,081 54,704 -3.0
Proposals 7,206 7,384 7,318 -2.4 -1.5 85,085 72,404 17.5
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
March 2020 Febrary 2020 March 2019 Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 0 2 3 -100.0 -100.0 33 30 10.0
Bankruptcies 0 2 3 -100.0 -100.0 27 26 3.8
Proposals 0 0 0 n/a n/a 6 4 50.0
Prince Edward Island 0 0 0 n/a n/a 11 3 266.7
Bankruptcies 0 0 0 n/a n/a 10 2 400.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 2 4 3 -50.0 -33.3 59 43 37.2
Bankruptcies 2 2 3 0.0 -33.3 50 32 56.3
Proposals 0 2 0 -100.0 n/a 9 11 -18.2
New Brunswick 0 2 6 -100.0 -100.0 35 45 -22.2
Bankruptcies 0 2 4 -100.0 -100.0 28 36 -22.2
Proposals 0 0 2 n/a -100.0 7 9 -22.2
Quebec 147 192 212 -23.4 -30.7 2,078 2,111 -1.6
Bankruptcies 104 144 170 -27.8 -38.8 1,542 1,620 -4.8
Proposals 43 48 42 -10.4 2.4 536 491 9.2
Ontario 63 84 96 -25.0 -34.4 885 941 -6.0
Bankruptcies 44 55 73 -20.0 -39.7 621 684 -9.2
Proposals 19 29 23 -34.5 -17.4 264 257 2.7
Manitoba 7 1 1 600.0 600.0 41 27 51.9
Bankruptcies 2 1 1 100.0 100.0 30 25 20.0
Proposals 5 0 0 n/a n/a 11 2 450.0
Saskatchewan 5 12 6 -58.3 -16.7 107 95 12.6
Bankruptcies 5 11 1 -54.5 400.0 75 56 33.9
Proposals 0 1 5 -100.0 -100.0 32 39 -17.9
Alberta 14 18 25 -22.2 -44.0 210 221 -5.0
Bankruptcies 13 13 18 0.0 -27.8 153 175 -12.6
Proposals 1 5 7 -80.0 -85.7 57 46 23.9
British Columbia 13 9 10 44.4 30.0 128 106 20.8
Bankruptcies 5 3 8 66.7 -37.5 84 74 13.5
Proposals 8 6 2 33.3 300.0 44 32 37.5
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 251 324 362 -22.5 -30.7 3,591 3,622 -0.9
Bankruptcies 175 233 281 -24.9 -37.7 2,623 2,730 -3.9
Proposals 76 91 81 -16.5 -6.2 968 892 8.5
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
March 2020 Febrary 2020 March 2019 Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 0 0 0 n/a n/a 10 13 -23.1
Bankruptcies 0 0 0 n/a n/a 7 9 -22.2
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 2 3 1 -33.3 100.0 33 22 50.0
Bankruptcies 2 1 1 100.0 100.0 25 17 47.1
Proposals 0 2 0 -100.0 n/a 8 5 60.0
New Brunswick 0 2 3 -100.0 -100.0 26 22 18.2
Bankruptcies 0 2 3 -100.0 -100.0 20 20 0.0
Proposals 0 0 0 n/a n/a 6 2 200.0
Quebec 128 171 180 -25.1 -28.9 1,822 1,834 -0.7
Bankruptcies 94 131 143 -28.2 -34.3 1,389 1,428 -2.7
Proposals 34 40 37 -15.0 -8.1 433 406 6.7
Ontario 37 35 55 5.7 -32.7 463 557 -16.9
Bankruptcies 25 25 43 0.0 -41.9 343 413 -16.9
Proposals 12 10 12 20.0 0.0 120 144 -16.7
Manitoba 6 0 0 n/a n/a 19 4 375.0
Bankruptcies 1 0 0 n/a n/a 12 3 300.0
Proposals 5 0 0 n/a n/a 7 1 600.0
Saskatchewan 0 2 0 -100.0 n/a 11 6 83.3
Bankruptcies 0 2 0 -100.0 n/a 8 4 100.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Alberta 7 12 11 -41.7 -36.4 122 99 23.2
Bankruptcies 7 8 7 -12.5 0.0 93 77 20.8
Proposals 0 4 4 -100.0 -100.0 29 22 31.8
British Columbia 9 3 6 200.0 50.0 52 45 15.6
Bankruptcies 4 2 5 100.0 -20.0 35 27 29.6
Proposals 5 1 1 400.0 400.0 17 18 -5.6
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 189 228 256 -17.1 -26.2 2,565 2,603 -1.5
Bankruptcies 133 171 202 -22.2 -34.2 1,937 1,999 -3.1
Proposals 56 57 54 -1.8 3.7 628 604 4.0
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
March 2020 Febrary 2020 March 2019 Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 0 2 3 -100.0 -100.0 23 17 35.3
Bankruptcies 0 2 3 -100.0 -100.0 20 17 17.6
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 0 0 0 n/a n/a 7 2 250.0
Bankruptcies 0 0 0 n/a n/a 7 1 600.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 0 1 2 -100.0 -100.0 26 21 23.8
Bankruptcies 0 1 2 -100.0 -100.0 25 15 66.7
Proposals 0 0 0 n/a n/a 1 6 -83.3
New Brunswick 0 0 3 n/a -100.0 9 23 -60.9
Bankruptcies 0 0 1 n/a -100.0 8 16 -50.0
Proposals 0 0 2 n/a -100.0 1 7 -85.7
Quebec 19 21 32 -9.5 -40.6 256 277 -7.6
Bankruptcies 10 13 27 -23.1 -63.0 153 192 -20.3
Proposals 9 8 5 12.5 80.0 103 85 21.2
Ontario 26 49 41 -46.9 -36.6 422 384 9.9
Bankruptcies 19 30 30 -36.7 -36.7 278 271 2.6
Proposals 7 19 11 -63.2 -36.4 144 113 27.4
Manitoba 1 1 1 0.0 0.0 22 23 -4.3
Bankruptcies 1 1 1 0.0 0.0 18 22 -18.2
Proposals 0 0 0 n/a n/a 4 1 300.0
Saskatchewan 5 10 6 -50.0 -16.7 96 89 7.9
Bankruptcies 5 9 1 -44.4 400.0 67 52 28.8
Proposals 0 1 5 -100.0 -100.0 29 37 -21.6
Alberta 7 6 14 16.7 -50.0 88 122 -27.9
Bankruptcies 6 5 11 20.0 -45.5 60 98 -38.8
Proposals 1 1 3 0.0 -66.7 28 24 16.7
British Columbia 4 6 4 -33.3 0.0 76 61 24.6
Bankruptcies 1 1 3 0.0 -66.7 49 47 4.3
Proposals 3 5 1 -40.0 200.0 27 14 92.9
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 62 96 106 -35.4 -41.5 1,026 1,019 0.7
Bankruptcies 42 62 79 -32.3 -46.8 686 731 -6.2
Proposals 20 34 27 -41.2 -25.9 340 288 18.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
March 2020 Febrary 2020 March 2019 Feb. 2020 to Mar. 2020 Mar. 2019 to Mar. 2020 03-31-2020 03-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting 8 1 7 700.0 14.3 61 71 -14.1
Bankruptcies 5 1 5 400.0 0.0 39 52 -25.0
Proposals 3 0 2 n/a 50.0 22 19 15.8
Mining and Oil and Gas Extraction 2 2 7 0.0 -71.4 33 34 -2.9
Bankruptcies 2 2 7 0.0 -71.4 21 23 -8.7
Proposals 0 0 0 n/a n/a 12 11 9.1
Utilities 2 0 0 n/a n/a 9 4 125.0
Bankruptcies 2 0 0 n/a n/a 6 2 200.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Construction 43 60 73 -28.3 -41.1 640 705 -9.2
Bankruptcies 27 48 61 -43.8 -55.7 454 531 -14.5
Proposals 16 12 12 33.3 33.3 186 174 6.9
Manufacturing 25 29 31 -13.8 -19.4 340 309 10.0
Bankruptcies 15 21 21 -28.6 -28.6 238 223 6.7
Proposals 10 8 10 25.0 0.0 102 86 18.6
Wholesale Trade 12 13 24 -7.7 -50.0 177 175 1.1
Bankruptcies 10 11 16 -9.1 -37.5 126 131 -3.8
Proposals 2 2 8 0.0 -75.0 51 44 15.9
Retail Trade 42 38 29 10.5 44.8 408 393 3.8
Bankruptcies 27 28 22 -3.6 22.7 300 311 -3.5
Proposals 15 10 7 50.0 114.3 108 82 31.7
Transportation and Warehousing 20 17 24 17.6 -16.7 212 244 -13.1
Bankruptcies 18 12 16 50.0 12.5 158 184 -14.1
Proposals 2 5 8 -60.0 -75.0 54 60 -10.0
Information and Cultural Industries 3 9 8 -66.7 -62.5 77 68 13.2
Bankruptcies 3 9 8 -66.7 -62.5 58 50 16.0
Proposals 0 0 0 n/a n/a 19 18 5.6
Finance and Insurance 3 4 8 -25.0 -62.5 53 67 -20.9
Bankruptcies 3 4 6 -25.0 -50.0 45 50 -10.0
Proposals 0 0 2 n/a -100.0 8 17 -52.9
Real Estate and Rental and Leasing 9 6 13 50.0 -30.8 149 150 -0.7
Bankruptcies 5 2 10 150.0 -50.0 105 107 -1.9
Proposals 4 4 3 0.0 33.3 44 43 2.3
Professional, Scientific and Technical Services 20 27 23 -25.9 -13.0 276 260 6.2
Bankruptcies 12 16 19 -25.0 -36.8 210 196 7.1
Proposals 8 11 4 -27.3 100.0 66 64 3.1
Management of Companies and Enterprises 6 15 10 -60.0 -40.0 90 82 9.8
Bankruptcies 5 7 7 -28.6 -28.6 68 67 1.5
Proposals 1 8 3 -87.5 -66.7 22 15 46.7
Administrative and Support, Waste Management and Remediation Services 11 10 13 10.0 -15.4 166 158 5.1
Bankruptcies 5 5 9 0.0 -44.4 114 103 10.7
Proposals 6 5 4 20.0 50.0 52 55 -5.5
Educational Services 0 4 4 -100.0 -100.0 32 31 3.2
Bankruptcies 0 4 3 -100.0 -100.0 24 23 4.3
Proposals 0 0 1 n/a -100.0 8 8 0.0
Health Care and Social Assistance 1 6 12 -83.3 -91.7 79 81 -2.5
Bankruptcies 1 3 11 -66.7 -90.9 50 54 -7.4
Proposals 0 3 1 -100.0 -100.0 29 27 7.4
Arts, Entertainment and Recreation 5 10 7 -50.0 -28.6 86 64 34.4
Bankruptcies 3 7 4 -57.1 -25.0 67 50 34.0
Proposals 2 3 3 -33.3 -33.3 19 14 35.7
Accommodation and Food Services 31 60 53 -48.3 -41.5 501 530 -5.5
Bankruptcies 25 46 44 -45.7 -43.2 387 424 -8.7
Proposals 6 14 9 -57.1 -33.3 114 106 7.5
Other Services (except Public Administration) 8 13 16 -38.5 -50.0 202 193 4.7
Bankruptcies 7 7 12 0.0 -41.7 153 147 4.1
Proposals 1 6 4 -83.3 -75.0 49 46 6.5
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 251 324 362 -22.5 -30.7 3,591 3,622 -0.9
Bankruptcies 175 233 281 -24.9 -37.7 2,623 2,730 -3.9
Proposals 76 91 81 -16.5 -6.2 968 892 8.5
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