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Insolvency Statistics in Canada—August 2020

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.

Note:

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

Table 1: Total Insolvencies
- Volume % Change 12-Month Period Ending
August
2020
July
2020
August
2019
Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Newfoundland and Labrador  126 126 268 0.0 -53.0 2,243 3,168 -29.2
Bankruptcies 58 50 113 16.0 -48.7 1,033 1,483 -30.3
Proposals 68 76 155 -10.5 -56.1 1,210 1,685 -28.2
Prince Edward Island 32 34 66 -5.9 -51.5 547 741 -26.2
Bankruptcies 12 14 31 -14.3 -61.3 275 396 -30.6
Proposals 20 20 35 0.0 -42.9 272 345 -21.2
Nova Scotia 245 229 528 7.0 -53.6 4,489 5,879 -23.6
Bankruptcies 104 121 296 -14.0 -64.9 2,130 3,391 -37.2
Proposals 141 108 232 30.6 -39.2 2,359 2,488 -5.2
New Brunswick 251 222 401 13.1 -37.4 3,880 4,819 -19.5
Bankruptcies 118 111 208 6.3 -43.3 1,747 2,395 -27.1
Proposals 133 111 193 19.8 -31.1 2,133 2,424 -12.0
Quebec 1,816 1,807 3,548 0.5 -48.8 34,789 44,115 -21.1
Bankruptcies 892 869 1,713 2.6 -47.9 16,110 21,809 -26.1
Proposals 924 938 1,835 -1.5 -49.6 18,679 22,306 -16.3
Ontario 2,370 2,548 3,816 -7.0 -37.9 39,354 43,338 -9.2
Bankruptcies 686 692 1,277 -0.9 -46.3 11,731 15,157 -22.6
Proposals 1,684 1,856 2,539 -9.3 -33.7 27,623 28,181 -2.0
Manitoba 178 154 255 15.6 -30.2 2,848 3,097 -8.0
Bankruptcies 61 58 105 5.2 -41.9 967 1,439 -32.8
Proposals 117 96 150 21.9 -22.0 1,881 1,658 13.4
Saskatchewan 191 160 276 19.4 -30.8 3,067 3,470 -11.6
Bankruptcies 62 52 103 19.2 -39.8 1,146 1,325 -13.5
Proposals 129 108 173 19.4 -25.4 1,921 2,145 -10.4
Alberta 881 889 1,415 -0.9 -37.7 14,646 16,113 -9.1
Bankruptcies 245 298 472 -17.8 -48.1 4,432 5,497 -19.4
Proposals 636 591 943 7.6 -32.6 10,214 10,616 -3.8
British Columbia 548 624 941 -12.2 -41.8 9,609 10,906 -11.9
Bankruptcies 171 196 349 -12.8 -51.0 3,295 4,134 -20.3
Proposals 377 428 592 -11.9 -36.3 6,314 6,772 -6.8
Northwest Territories 4 7 7 -42.9 -42.9 56 65 -13.8
Bankruptcies 2 0 1 n/a 100.0 14 20 -30.0
Proposals 2 7 6 -71.4 -66.7 42 45 -6.7
Yukon 0 1 2 -100.0 -100.0 34 33 3.0
Bankruptcies 0 0 1 n/a -100.0 13 12 8.3
Proposals 0 1 1 -100.0 -100.0 21 21 0.0
Nunavut 0 2 0 -100.0 n/a 9 5 80.0
Bankruptcies 0 1 0 -100.0 n/a 3 0 n/a
Proposals 0 1 0 -100.0 n/a 6 5 20.0
Canada 6,642 6,803 11,523 -2.4 -42.4 115,571 135,749 -14.9
Bankruptcies 2,411 2,462 4,669 -2.1 -48.4 42,896 57,058 -24.8
Proposals 4,231 4,341 6,854 -2.5 -38.3 72,675 78,691 -7.6
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
August 2020 July 2020 August 2019 Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Newfoundland and Labrador  125 124 261 0.8 -52.1 2,227 3,122 -28.7
Bankruptcies 57 48 106 18.8 -46.2 1,022 1,441 -29.1
Proposals 68 76 155 -10.5 -56.1 1,205 1,681 -28.3
Prince Edward Island 32 34 66 -5.9 -51.5 540 735 -26.5
Bankruptcies 12 14 31 -14.3 -61.3 270 390 -30.8
Proposals 20 20 35 0.0 -42.9 270 345 -21.7
Nova Scotia 245 228 527 7.5 -53.5 4,456 5,825 -23.5
Bankruptcies 104 120 295 -13.3 -64.7 2,101 3,346 -37.2
Proposals 141 108 232 30.6 -39.2 2,355 2,479 -5.0
New Brunswick 250 219 400 14.2 -37.5 3,859 4,769 -19.1
Bankruptcies 117 109 208 7.3 -43.8 1,730 2,359 -26.7
Proposals 133 110 192 20.9 -30.7 2,129 2,410 -11.7
Quebec 1,715 1,679 3,420 2.1 -49.9 33,030 41,948 -21.3
Bankruptcies 813 763 1,620 6.6 -49.8 14,784 20,143 -26.6
Proposals 902 916 1,800 -1.5 -49.9 18,246 21,805 -16.3
Ontario 2,315 2,482 3,748 -6.7 -38.2 38,562 42,382 -9.0
Bankruptcies 644 643 1,227 0.2 -47.5 11,173 14,462 -22.7
Proposals 1,671 1,839 2,521 -9.1 -33.7 27,389 27,920 -1.9
Manitoba 174 153 251 13.7 -30.7 2,810 3,061 -8.2
Bankruptcies 58 57 101 1.8 -42.6 938 1,407 -33.3
Proposals 116 96 150 20.8 -22.7 1,872 1,654 13.2
Saskatchewan 189 159 272 18.9 -30.5 2,985 3,375 -11.6
Bankruptcies 61 51 99 19.6 -38.4 1,085 1,268 -14.4
Proposals 128 108 173 18.5 -26.0 1,900 2,107 -9.8
Alberta 873 879 1,398 -0.7 -37.6 14,471 15,894 -9.0
Bankruptcies 239 288 459 -17.0 -47.9 4,304 5,336 -19.3
Proposals 634 591 939 7.3 -32.5 10,167 10,558 -3.7
British Columbia 542 619 932 -12.4 -41.8 9,492 10,779 -11.9
Bankruptcies 166 192 344 -13.5 -51.7 3,227 4,046 -20.2
Proposals 376 427 588 -11.9 -36.1 6,265 6,733 -7.0
Northwest Territories 4 7 7 -42.9 -42.9 54 65 -16.9
Bankruptcies 2 0 1 n/a 100.0 13 20 -35.0
Proposals 2 7 6 -71.4 -66.7 41 45 -8.9
Yukon 0 1 2 -100.0 -100.0 34 33 3.0
Bankruptcies 0 0 1 n/a -100.0 13 12 8.3
Proposals 0 1 1 -100.0 -100.0 21 21 0.0
Nunavut 0 1 0 -100.0 n/a 6 5 20.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 1 0 -100.0 n/a 6 5 20.0
Canada 6,464 6,585 11,284 -1.8 -42.7 112,526 131,993 -14.7
Bankruptcies 2,273 2,285 4,492 -0.5 -49.4 40,660 54,230 -25.0
Proposals 4,191 4,300 6,792 -2.5 -38.3 71,866 77,763 -7.6
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
August 2020 July 2020 August 2019 Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Newfoundland and Labrador  1 2 7 -50.0 -85.7 16 46 -65.2
Bankruptcies 1 2 7 -50.0 -85.7 11 42 -73.8
Proposals 0 0 0 n/a n/a 5 4 25.0
Prince Edward Island 0 0 0 n/a n/a 7 6 16.7
Bankruptcies 0 0 0 n/a n/a 5 6 -16.7
Proposals 0 0 0 n/a n/a 2 0 n/a
Nova Scotia 0 1 1 -100.0 -100.0 33 54 -38.9
Bankruptcies 0 1 1 -100.0 -100.0 29 45 -35.6
Proposals 0 0 0 n/a n/a 4 9 -55.6
New Brunswick 1 3 1 -66.7 0.0 21 50 -58.0
Bankruptcies 1 2 0 -50.0 n/a 17 36 -52.8
Proposals 0 1 1 -100.0 -100.0 4 14 -71.4
Quebec 101 128 128 -21.1 -21.1 1,759 2,167 -18.8
Bankruptcies 79 106 93 -25.5 -15.1 1,326 1,666 -20.4
Proposals 22 22 35 0.0 -37.1 433 501 -13.6
Ontario 55 66 68 -16.7 -19.1 792 956 -17.2
Bankruptcies 42 49 50 -14.3 -16.0 558 695 -19.7
Proposals 13 17 18 -23.5 -27.8 234 261 -10.3
Manitoba 4 1 4 300.0 0.0 38 36 5.6
Bankruptcies 3 1 4 200.0 -25.0 29 32 -9.4
Proposals 1 0 0 n/a n/a 9 4 125.0
Saskatchewan 2 1 4 100.0 -50.0 82 95 -13.7
Bankruptcies 1 1 4 0.0 -75.0 61 57 7.0
Proposals 1 0 0 n/a n/a 21 38 -44.7
Alberta 8 10 17 -20.0 -52.9 175 219 -20.1
Bankruptcies 6 10 13 -40.0 -53.8 128 161 -20.5
Proposals 2 0 4 n/a -50.0 47 58 -19.0
British Columbia 6 5 9 20.0 -33.3 117 127 -7.9
Bankruptcies 5 4 5 25.0 0.0 68 88 -22.7
Proposals 1 1 4 0.0 -75.0 49 39 25.6
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 1 0 -100.0 n/a 3 0 n/a
Bankruptcies 0 1 0 -100.0 n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 178 218 239 -18.3 -25.5 3,045 3,756 -18.9
Bankruptcies 138 177 177 -22.0 -22.0 2,236 2,828 -20.9
Proposals 40 41 62 -2.4 -35.5 809 928 -12.8
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
August 2020 July 2020 August 2019 Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Newfoundland and Labrador  0 0 3 n/a -100.0 5 18 -72.2
Bankruptcies 0 0 3 n/a -100.0 3 14 -78.6
Proposals 0 0 0 n/a n/a 2 4 -50.0
Prince Edward Island 0 0 0 n/a n/a 3 2 50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 2 0 n/a
Nova Scotia 0 1 0 -100.0 n/a 19 30 -36.7
Bankruptcies 0 1 0 -100.0 n/a 15 23 -34.8
Proposals 0 0 0 n/a n/a 4 7 -42.9
New Brunswick 0 2 1 -100.0 -100.0 16 30 -46.7
Bankruptcies 0 2 0 -100.0 n/a 14 24 -41.7
Proposals 0 0 1 n/a -100.0 2 6 -66.7
Quebec 91 115 114 -20.9 -20.2 1,551 1,894 -18.1
Bankruptcies 72 96 82 -25.0 -12.2 1,203 1,484 -18.9
Proposals 19 19 32 0.0 -40.6 348 410 -15.1
Ontario 40 52 25 -23.1 60.0 483 536 -9.9
Bankruptcies 31 40 18 -22.5 72.2 367 398 -7.8
Proposals 9 12 7 -25.0 28.6 116 138 -15.9
Manitoba 1 0 4 n/a -75.0 16 12 33.3
Bankruptcies 1 0 4 n/a -75.0 10 11 -9.1
Proposals 0 0 0 n/a n/a 6 1 500.0
Saskatchewan 1 1 0 0.0 n/a 12 5 140.0
Bankruptcies 0 1 0 -100.0 n/a 9 3 200.0
Proposals 1 0 0 n/a n/a 3 2 50.0
Alberta 4 4 11 0.0 -63.6 104 104 0.0
Bankruptcies 4 4 10 0.0 -60.0 78 77 1.3
Proposals 0 0 1 n/a -100.0 26 27 -3.7
British Columbia 6 2 4 200.0 50.0 68 55 23.6
Bankruptcies 5 1 2 400.0 150.0 41 32 28.1
Proposals 1 1 2 0.0 -50.0 27 23 17.4
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 1 0 -100.0 n/a 3 0 n/a
Bankruptcies 0 1 0 -100.0 n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 143 178 162 -19.7 -11.7 2,281 2,686 -15.1
Bankruptcies 113 146 119 -22.6 -5.0 1,744 2,068 -15.7
Proposals 30 32 43 -6.3 -30.2 537 618 -13.1
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
August 2020 July 2020 August 2019 Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Newfoundland and Labrador  1 2 4 -50.0 -75.0 11 28 -60.7
Bankruptcies 1 2 4 -50.0 -75.0 8 28 -71.4
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 0 0 0 n/a n/a 4 4 0.0
Bankruptcies 0 0 0 n/a n/a 4 4 0.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 0 0 1 n/a -100.0 14 24 -41.7
Bankruptcies 0 0 1 n/a -100.0 14 22 -36.4
Proposals 0 0 0 n/a n/a 0 2 -100.0
New Brunswick 1 1 0 0.0 n/a 5 20 -75.0
Bankruptcies 1 0 0 n/a n/a 3 12 -75.0
Proposals 0 1 0 -100.0 n/a 2 8 -75.0
Quebec 10 13 14 -23.1 -28.6 208 273 -23.8
Bankruptcies 7 10 11 -30.0 -36.4 123 182 -32.4
Proposals 3 3 3 0.0 0.0 85 91 -6.6
Ontario 15 14 43 7.1 -65.1 309 420 -26.4
Bankruptcies 11 9 32 22.2 -65.6 191 297 -35.7
Proposals 4 5 11 -20.0 -63.6 118 123 -4.1
Manitoba 3 1 0 200.0 n/a 22 24 -8.3
Bankruptcies 2 1 0 100.0 n/a 19 21 -9.5
Proposals 1 0 0 n/a n/a 3 3 0.0
Saskatchewan 1 0 4 n/a -75.0 70 90 -22.2
Bankruptcies 1 0 4 n/a -75.0 52 54 -3.7
Proposals 0 0 0 n/a n/a 18 36 -50.0
Alberta 4 6 6 -33.3 -33.3 71 115 -38.3
Bankruptcies 2 6 3 -66.7 -33.3 50 84 -40.5
Proposals 2 0 3 n/a -33.3 21 31 -32.3
British Columbia 0 3 5 -100.0 -100.0 49 72 -31.9
Bankruptcies 0 3 3 -100.0 -100.0 27 56 -51.8
Proposals 0 0 2 n/a -100.0 22 16 37.5
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 35 40 77 -12.5 -54.5 764 1,070 -28.6
Bankruptcies 25 31 58 -19.4 -56.9 492 760 -35.3
Proposals 10 9 19 11.1 -47.4 272 310 -12.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
August 2020 July 2020 August 2019 Jul. 2020
to
Aug. 2020
Aug. 2019
to
Aug. 2020
08-31-2020 08-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting  3 5 7 -40.0 -57.1 61 61 0.0
Bankruptcies 3 4 5 -25.0 -40.0 44 44 0.0
Proposals 0 1 2 -100.0 -100.0 17 17 0.0
Mining and Oil and Gas Extraction 3 2 1 50.0 200.0 27 42 -35.7
Bankruptcies 3 0 1 n/a 200.0 15 28 -46.4
Proposals 0 2 0 -100.0 n/a 12 14 -14.3
Utilities 1 0 1 n/a 0.0 7 7 0.0
Bankruptcies 1 0 1 n/a 0.0 6 3 100.0
Proposals 0 0 0 n/a n/a 1 4 -75.0
Construction 19 21 49 -9.5 -61.2 442 727 -39.2
Bankruptcies 16 16 36 0.0 -55.6 313 545 -42.6
Proposals 3 5 13 -40.0 -76.9 129 182 -29.1
Manufacturing  13 12 24 8.3 -45.8 276 329 -16.1
Bankruptcies 9 11 16 -18.2 -43.8 192 240 -20.0
Proposals 4 1 8 300.0 -50.0 84 89 -5.6
Wholesale Trade 10 11 16 -9.1 -37.5 153 181 -15.5
Bankruptcies 7 8 10 -12.5 -30.0 113 127 -11.0
Proposals 3 3 6 0.0 -50.0 40 54 -25.9
Retail Trade 29 40 15 -27.5 93.3 426 383 11.2
Bankruptcies 22 28 12 -21.4 83.3 301 299 0.7
Proposals 7 12 3 -41.7 133.3 125 84 48.8
Transportation and Warehousing 10 7 11 42.9 -9.1 175 219 -20.1
Bankruptcies 10 6 9 66.7 11.1 135 165 -18.2
Proposals 0 1 2 -100.0 -100.0 40 54 -25.9
Information and Cultural Industries 3 2 5 50.0 -40.0 53 83 -36.1
Bankruptcies 1 1 1 0.0 0.0 41 60 -31.7
Proposals 2 1 4 100.0 -50.0 12 23 -47.8
Finance and Insurance  0 3 6 -100.0 -100.0 35 74 -52.7
Bankruptcies 0 3 4 -100.0 -100.0 29 59 -50.8
Proposals 0 0 2 n/a -100.0 6 15 -60.0
Real Estate and Rental and Leasing  5 10 9 -50.0 -44.4 140 156 -10.3
Bankruptcies 4 9 6 -55.6 -33.3 93 113 -17.7
Proposals 1 1 3 0.0 -66.7 47 43 9.3
Professional, Scientific and Technical Services 14 14 12 0.0 16.7 202 281 -28.1
Bankruptcies 13 10 11 30.0 18.2 146 224 -34.8
Proposals 1 4 1 -75.0 0.0 56 57 -1.8
Management of Companies and Enterprises 8 6 4 33.3 100.0 90 93 -3.2
Bankruptcies 6 5 4 20.0 50.0 68 72 -5.6
Proposals 2 1 0 100.0 n/a 22 21 4.8
Administrative and Support, Waste Management and Remediation Services 4 15 14 -73.3 -71.4 127 173 -26.6
Bankruptcies 4 12 10 -66.7 -60.0 87 117 -25.6
Proposals 0 3 4 -100.0 -100.0 40 56 -28.6
Educational Services  3 3 5 0.0 -40.0 34 31 9.7
Bankruptcies 2 3 3 -33.3 -33.3 27 22 22.7
Proposals 1 0 2 n/a -50.0 7 9 -22.2
Health Care and Social Assistance 3 5 4 -40.0 -25.0 67 86 -22.1
Bankruptcies 1 4 3 -75.0 -66.7 48 53 -9.4
Proposals 2 1 1 100.0 100.0 19 33 -42.4
Arts, Entertainment and Recreation 8 11 8 -27.3 0.0 105 76 38.2
Bankruptcies 6 11 7 -45.5 -14.3 85 60 41.7
Proposals 2 0 1 n/a 100.0 20 16 25.0
Accommodation and Food Services 35 35 30 0.0 16.7 456 540 -15.6
Bankruptcies 25 31 22 -19.4 13.6 367 432 -15.0
Proposals 10 4 8 150.0 25.0 89 108 -17.6
Other Services (except Public Administration) 7 15 18 -53.3 -61.1 168 213 -21.1
Bankruptcies 5 14 16 -64.3 -68.8 125 164 -23.8
Proposals 2 1 2 100.0 0.0 43 49 -12.2
Public Administration  0 1 0 -100.0 n/a 1 1 0.0
Bankruptcies 0 1 0 -100.0 n/a 1 1 0.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Total 178 218 239 -18.3 -25.5 3,045 3,756 -18.9
Bankruptcies 138 177 177 -22.0 -22.0 2,236 2,828 -20.9
Proposals 40 41 62 -2.4 -35.5 809 928 -12.8
Date modified: