Insolvency Statistics in Canada—October 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
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Newfoundland and Labrador 178 191 264 -6.8 -32.6 2,093 3,224 -35.1
Bankruptcies 71 73 131 -2.7 -45.8 921 1,504 -38.8
Proposals 107 118 133 -9.3 -19.5 1,172 1,720 -31.9
Prince Edward Island 26 29 77 -10.3 -66.2 481 754 -36.2
Bankruptcies 13 13 34 0.0 -61.8 245 392 -37.5
Proposals 13 16 43 -18.8 -69.8 236 362 -34.8
Nova Scotia 288 277 606 4.0 -52.5 3,956 6,018 -34.3
Bankruptcies 132 124 301 6.5 -56.1 1,844 3,325 -44.5
Proposals 156 153 305 2.0 -48.9 2,112 2,693 -21.6
New Brunswick 269 293 471 -8.2 -42.9 3,529 4,934 -28.5
Bankruptcies 134 122 227 9.8 -41.0 1,567 2,426 -35.4
Proposals 135 171 244 -21.1 -44.7 1,962 2,508 -21.8
Quebec 2,463 2,287 4,514 7.7 -45.4 30,985 44,871 -30.9
Bankruptcies 1,119 1,094 2,115 2.3 -47.1 14,254 21,793 -34.6
Proposals 1,344 1,193 2,399 12.7 -44.0 16,731 23,078 -27.5
Ontario 2,904 2,716 4,315 6.9 -32.7 36,724 44,935 -18.3
Bankruptcies 727 731 1,355 -0.5 -46.3 10,528 15,241 -30.9
Proposals 2,177 1,985 2,960 9.7 -26.5 26,196 29,694 -11.8
Manitoba 206 235 302 -12.3 -31.8 2,717 3,128 -13.1
Bankruptcies 63 90 120 -30.0 -47.5 877 1,415 -38.0
Proposals 143 145 182 -1.4 -21.4 1,840 1,713 7.4
Saskatchewan 216 209 372 3.3 -41.9 2,844 3,476 -18.2
Bankruptcies 75 59 166 27.1 -54.8 1,017 1,343 -24.3
Proposals 141 150 206 -6.0 -31.6 1,827 2,133 -14.3
Alberta 1,135 1,042 1,504 8.9 -24.5 13,894 16,544 -16.0
Bankruptcies 330 280 501 17.9 -34.1 4,070 5,657 -28.1
Proposals 805 762 1,003 5.6 -19.7 9,824 10,887 -9.8
British Columbia 687 602 1,077 14.1 -36.2 8,820 11,203 -21.3
Bankruptcies 237 208 395 13.9 -40.0 2,993 4,172 -28.3
Proposals 450 394 682 14.2 -34.0 5,827 7,031 -17.1
Northwest Territories 2 4 7 -50.0 -71.4 50 68 -26.5
Bankruptcies 0 0 0 n/a n/a 12 16 -25.0
Proposals 2 4 7 -50.0 -71.4 38 52 -26.9
Yukon 1 3 2 -66.7 -50.0 34 34 0.0
Bankruptcies 1 0 0 n/a n/a 13 12 8.3
Proposals 0 3 2 -100.0 -100.0 21 22 -4.5
Nunavut 0 2 1 -100.0 -100.0 10 5 100.0
Bankruptcies 0 0 0 n/a n/a 3 0 n/a
Proposals 0 2 1 -100.0 -100.0 7 5 40.0
Canada 8,375 7,890 13,512 6.1 -38.0 106,137 139,194 -23.7
Bankruptcies 2,902 2,794 5,345 3.9 -45.7 38,344 57,296 -33.1
Proposals 5,473 5,096 8,167 7.4 -33.0 67,793 81,898 -17.2
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Newfoundland and Labrador 178 189 262 -5.8 -32.1 2,077 3,183 -34.7
Bankruptcies 71 71 131 0.0 -45.8 908 1,469 -38.2
Proposals 107 118 131 -9.3 -18.3 1,169 1,714 -31.8
Prince Edward Island 26 29 77 -10.3 -66.2 476 747 -36.3
Bankruptcies 13 13 34 0.0 -61.8 241 386 -37.6
Proposals 13 16 43 -18.8 -69.8 235 361 -34.9
Nova Scotia 284 277 603 2.5 -52.9 3,926 5,964 -34.2
Bankruptcies 129 124 298 4.0 -56.7 1,817 3,280 -44.6
Proposals 155 153 305 1.3 -49.2 2,109 2,684 -21.4
New Brunswick 266 292 469 -8.9 -43.3 3,510 4,888 -28.2
Bankruptcies 131 122 225 7.4 -41.8 1,553 2,391 -35.0
Proposals 135 170 244 -20.6 -44.7 1,957 2,497 -21.6
Quebec 2,330 2,148 4,329 8.5 -46.2 29,277 42,731 -31.5
Bankruptcies 1,019 977 1,983 4.3 -48.6 12,949 20,150 -35.7
Proposals 1,311 1,171 2,346 12.0 -44.1 16,328 22,581 -27.7
Ontario 2,837 2,664 4,247 6.5 -33.2 35,946 44,006 -18.3
Bankruptcies 681 693 1,308 -1.7 -47.9 9,983 14,568 -31.5
Proposals 2,156 1,971 2,939 9.4 -26.6 25,963 29,438 -11.8
Manitoba 204 230 299 -11.3 -31.8 2,678 3,092 -13.4
Bankruptcies 61 85 118 -28.2 -48.3 846 1,384 -38.9
Proposals 143 145 181 -1.4 -21.0 1,832 1,708 7.3
Saskatchewan 216 204 355 5.9 -39.2 2,785 3,373 -17.4
Bankruptcies 75 56 154 33.9 -51.3 971 1,284 -24.4
Proposals 141 148 201 -4.7 -29.9 1,814 2,089 -13.2
Alberta 1,119 1,027 1,480 9.0 -24.4 13,726 16,315 -15.9
Bankruptcies 319 268 486 19.0 -34.4 3,944 5,488 -28.1
Proposals 800 759 994 5.4 -19.5 9,782 10,827 -9.7
British Columbia 672 589 1,069 14.1 -37.1 8,692 11,078 -21.5
Bankruptcies 224 197 390 13.7 -42.6 2,913 4,083 -28.7
Proposals 448 392 679 14.3 -34.0 5,779 6,995 -17.4
Northwest Territories 2 4 7 -50.0 -71.4 50 66 -24.2
Bankruptcies 0 0 0 n/a n/a 12 15 -20.0
Proposals 2 4 7 -50.0 -71.4 38 51 -25.5
Yukon 1 3 2 -66.7 -50.0 34 34 0.0
Bankruptcies 1 0 0 n/a n/a 13 12 8.3
Proposals 0 3 2 -100.0 -100.0 21 22 -4.5
Nunavut 0 2 1 -100.0 -100.0 7 5 40.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 2 1 -100.0 -100.0 7 5 40.0
Canada 8,135 7,658 13,200 6.2 -38.4 103,184 135,482 -23.8
Bankruptcies 2,724 2,606 5,127 4.5 -46.9 36,150 54,510 -33.7
Proposals 5,411 5,052 8,073 7.1 -33.0 67,034 80,972 -17.2
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Newfoundland and Labrador 0 2 2 -100.0 -100.0 16 41 -61.0
Bankruptcies 0 2 0 -100.0 n/a 13 35 -62.9
Proposals 0 0 2 n/a -100.0 3 6 -50.0
Prince Edward Island 0 0 0 n/a n/a 5 7 -28.6
Bankruptcies 0 0 0 n/a n/a 4 6 -33.3
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 4 0 3 n/a 33.3 30 54 -44.4
Bankruptcies 3 0 3 n/a 0.0 27 45 -40.0
Proposals 1 0 0 n/a n/a 3 9 -66.7
New Brunswick 3 1 2 200.0 50.0 19 46 -58.7
Bankruptcies 3 0 2 n/a 50.0 14 35 -60.0
Proposals 0 1 0 -100.0 n/a 5 11 -54.5
Quebec 133 139 185 -4.3 -28.1 1,708 2,140 -20.2
Bankruptcies 100 117 132 -14.5 -24.2 1,305 1,643 -20.6
Proposals 33 22 53 50.0 -37.7 403 497 -18.9
Ontario 67 52 68 28.8 -1.5 778 929 -16.3
Bankruptcies 46 38 47 21.1 -2.1 545 673 -19.0
Proposals 21 14 21 50.0 0.0 233 256 -9.0
Manitoba 2 5 3 -60.0 -33.3 39 36 8.3
Bankruptcies 2 5 2 -60.0 0.0 31 31 0.0
Proposals 0 0 1 n/a -100.0 8 5 60.0
Saskatchewan 0 5 17 -100.0 -100.0 59 103 -42.7
Bankruptcies 0 3 12 -100.0 -100.0 46 59 -22.0
Proposals 0 2 5 -100.0 -100.0 13 44 -70.5
Alberta 16 15 24 6.7 -33.3 168 229 -26.6
Bankruptcies 11 12 15 -8.3 -26.7 126 169 -25.4
Proposals 5 3 9 66.7 -44.4 42 60 -30.0
British Columbia 15 13 8 15.4 87.5 128 125 2.4
Bankruptcies 13 11 5 18.2 160.0 80 89 -10.1
Proposals 2 2 3 0.0 -33.3 48 36 33.3
Northwest Territories 0 0 0 n/a n/a 0 2 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
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 3 0 n/a
Bankruptcies 0 0 0 n/a n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 240 232 312 3.4 -23.1 2,953 3,712 -20.4
Bankruptcies 178 188 218 -5.3 -18.3 2,194 2,786 -21.2
Proposals 62 44 94 40.9 -34.0 759 926 -18.0
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Newfoundland and Labrador 0 2 1 -100.0 -100.0 6 13 -53.8
Bankruptcies 0 2 0 -100.0 n/a 5 8 -37.5
Proposals 0 0 1 n/a -100.0 1 5 -80.0
Prince Edward Island 0 0 0 n/a n/a 1 4 -75.0
Bankruptcies 0 0 0 n/a n/a 0 3 -100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 2 0 1 n/a 100.0 18 27 -33.3
Bankruptcies 2 0 1 n/a 100.0 16 20 -20.0
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 0 0 1 n/a -100.0 11 29 -62.1
Bankruptcies 0 0 1 n/a -100.0 9 24 -62.5
Proposals 0 0 0 n/a n/a 2 5 -60.0
Quebec 113 119 150 -5.0 -24.7 1,512 1,864 -18.9
Bankruptcies 87 101 114 -13.9 -23.7 1,182 1,465 -19.3
Proposals 26 18 36 44.4 -27.8 330 399 -17.3
Ontario 41 42 29 -2.4 41.4 499 508 -1.8
Bankruptcies 30 32 23 -6.3 30.4 375 378 -0.8
Proposals 11 10 6 10.0 83.3 124 130 -4.6
Manitoba 0 1 0 -100.0 n/a 16 11 45.5
Bankruptcies 0 1 0 -100.0 n/a 10 10 0.0
Proposals 0 0 0 n/a n/a 6 1 500.0
Saskatchewan 0 0 1 n/a -100.0 9 7 28.6
Bankruptcies 0 0 1 n/a -100.0 7 4 75.0
Proposals 0 0 0 n/a n/a 2 3 -33.3
Alberta 12 5 16 140.0 -25.0 98 118 -16.9
Bankruptcies 9 4 12 125.0 -25.0 72 91 -20.9
Proposals 3 1 4 200.0 -25.0 26 27 -3.7
British Columbia 12 10 2 20.0 500.0 82 55 49.1
Bankruptcies 10 9 1 11.1 900.0 54 36 50.0
Proposals 2 1 1 100.0 100.0 28 19 47.4
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 1 -100.0
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 3 0 n/a
Bankruptcies 0 0 0 n/a n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 180 179 201 0.6 -10.4 2,255 2,637 -14.5
Bankruptcies 138 149 153 -7.4 -9.8 1,733 2,039 -15.0
Proposals 42 30 48 40.0 -12.5 522 598 -12.7
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Newfoundland and Labrador 0 0 1 n/a -100.0 10 28 -64.3
Bankruptcies 0 0 0 n/a n/a 8 27 -70.4
Proposals 0 0 1 n/a -100.0 2 1 100.0
Prince Edward Island 0 0 0 n/a n/a 4 3 33.3
Bankruptcies 0 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 2 0 2 n/a 0.0 12 27 -55.6
Bankruptcies 1 0 2 n/a -50.0 11 25 -56.0
Proposals 1 0 0 n/a n/a 1 2 -50.0
New Brunswick 3 1 1 200.0 200.0 8 17 -52.9
Bankruptcies 3 0 1 n/a 200.0 5 11 -54.5
Proposals 0 1 0 -100.0 n/a 3 6 -50.0
Quebec 20 20 35 0.0 -42.9 196 276 -29.0
Bankruptcies 13 16 18 -18.8 -27.8 123 178 -30.9
Proposals 7 4 17 75.0 -58.8 73 98 -25.5
Ontario 26 10 39 160.0 -33.3 279 421 -33.7
Bankruptcies 16 6 24 166.7 -33.3 170 295 -42.4
Proposals 10 4 15 150.0 -33.3 109 126 -13.5
Manitoba 2 4 3 -50.0 -33.3 23 25 -8.0
Bankruptcies 2 4 2 -50.0 0.0 21 21 0.0
Proposals 0 0 1 n/a -100.0 2 4 -50.0
Saskatchewan 0 5 16 -100.0 -100.0 50 96 -47.9
Bankruptcies 0 3 11 -100.0 -100.0 39 55 -29.1
Proposals 0 2 5 -100.0 -100.0 11 41 -73.2
Alberta 4 10 8 -60.0 -50.0 70 111 -36.9
Bankruptcies 2 8 3 -75.0 -33.3 54 78 -30.8
Proposals 2 2 5 0.0 -60.0 16 33 -51.5
British Columbia 3 3 6 0.0 -50.0 46 70 -34.3
Bankruptcies 3 2 4 50.0 -25.0 26 53 -50.9
Proposals 0 1 2 -100.0 -100.0 20 17 17.6
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
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 60 53 111 13.2 -45.9 698 1,075 -35.1
Bankruptcies 40 39 65 2.6 -38.5 461 747 -38.3
Proposals 20 14 46 42.9 -56.5 237 328 -27.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
October 2020 September 2020 October 2019 Sept. 2020
to
Oct. 2020
Oct. 2019
to
Oct. 2020
10-31-2020 10-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting 4 8 10 -50.0 -60.0 58 65 -10.8
Bankruptcies 2 6 7 -66.7 -71.4 43 47 -8.5
Proposals 2 2 3 0.0 -33.3 15 18 -16.7
Mining and Oil and Gas Extraction 11 3 4 266.7 175.0 34 47 -27.7
Bankruptcies 8 2 0 300.0 n/a 24 29 -17.2
Proposals 3 1 4 200.0 -25.0 10 18 -44.4
Utilities 1 0 0 n/a n/a 6 8 -25.0
Bankruptcies 1 0 0 n/a n/a 5 5 0.0
Proposals 0 0 0 n/a n/a 1 3 -66.7
Construction 28 23 56 21.7 -50.0 390 703 -44.5
Bankruptcies 24 19 38 26.3 -36.8 285 522 -45.4
Proposals 4 4 18 0.0 -77.8 105 181 -42.0
Manufacturing 15 23 27 -34.8 -44.4 268 323 -17.0
Bankruptcies 9 18 18 -50.0 -50.0 185 238 -22.3
Proposals 6 5 9 20.0 -33.3 83 85 -2.4
Wholesale Trade 6 15 13 -60.0 -53.8 148 186 -20.4
Bankruptcies 5 14 10 -64.3 -50.0 112 133 -15.8
Proposals 1 1 3 0.0 -66.7 36 53 -32.1
Retail Trade 23 27 33 -14.8 -30.3 415 363 14.3
Bankruptcies 14 22 22 -36.4 -36.4 292 280 4.3
Proposals 9 5 11 80.0 -18.2 123 83 48.2
Transportation and Warehousing 20 17 19 17.6 5.3 178 209 -14.8
Bankruptcies 14 13 15 7.7 -6.7 137 155 -11.6
Proposals 6 4 4 50.0 50.0 41 54 -24.1
Information and Cultural Industries 7 2 5 250.0 40.0 55 77 -28.6
Bankruptcies 6 1 4 500.0 50.0 42 56 -25.0
Proposals 1 1 1 0.0 0.0 13 21 -38.1
Finance and Insurance 4 3 4 33.3 0.0 35 70 -50.0
Bankruptcies 1 2 3 -50.0 -66.7 26 56 -53.6
Proposals 3 1 1 200.0 200.0 9 14 -35.7
Real Estate and Rental and Leasing 13 7 15 85.7 -13.3 133 154 -13.6
Bankruptcies 6 7 11 -14.3 -45.5 87 117 -25.6
Proposals 7 0 4 n/a 75.0 46 37 24.3
Professional, Scientific and Technical Services 15 11 20 36.4 -25.0 178 298 -40.3
Bankruptcies 15 8 16 87.5 -6.3 132 233 -43.3
Proposals 0 3 4 -100.0 -100.0 46 65 -29.2
Management of Companies and Enterprises 4 11 6 -63.6 -33.3 93 92 1.1
Bankruptcies 1 9 6 -88.9 -83.3 67 72 -6.9
Proposals 3 2 0 50.0 n/a 26 20 30.0
Administrative and Support, Waste Management and Remediation Services 12 17 18 -29.4 -33.3 124 173 -28.3
Bankruptcies 10 14 13 -28.6 -23.1 87 121 -28.1
Proposals 2 3 5 -33.3 -60.0 37 52 -28.8
Educational Services 3 3 5 0.0 -40.0 33 36 -8.3
Bankruptcies 3 2 3 50.0 0.0 27 25 8.0
Proposals 0 1 2 -100.0 -100.0 6 11 -45.5
Health Care and Social Assistance 13 5 12 160.0 8.3 65 94 -30.9
Bankruptcies 11 5 7 120.0 57.1 52 57 -8.8
Proposals 2 0 5 n/a -60.0 13 37 -64.9
Arts, Entertainment and Recreation 10 10 4 0.0 150.0 116 74 56.8
Bankruptcies 6 8 2 -25.0 200.0 93 57 63.2
Proposals 4 2 2 100.0 100.0 23 17 35.3
Accommodation and Food Services 37 33 35 12.1 5.7 461 531 -13.2
Bankruptcies 30 28 24 7.1 25.0 374 422 -11.4
Proposals 7 5 11 40.0 -36.4 87 109 -20.2
Other Services (except Public Administration) 14 12 26 16.7 -46.2 160 208 -23.1
Bankruptcies 12 9 19 33.3 -36.8 122 160 -23.8
Proposals 2 3 7 -33.3 -71.4 38 48 -20.8
Public Administration 0 2 0 -100.0 n/a 3 1 200.0
Bankruptcies 0 1 0 -100.0 n/a 2 1 100.0
Proposals 0 1 0 -100.0 n/a 1 0 n/a
Total 240 232 312 3.4 -23.1 2,953 3,712 -20.4
Bankruptcies 178 188 218 -5.3 -18.3 2,194 2,786 -21.2
Proposals 62 44 94 40.9 -34.0 759 926 -18.0