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Insolvency Statistics in Canada—December 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
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Newfoundland and Labrador 129 165 228 -21.8 -43.4 1,883 3,262 -42.3
Bankruptcies 45 41 95 9.8 -52.6 778 1,501 -48.2
Proposals 84 124 133 -32.3 -36.8 1,105 1,761 -37.3
Prince Edward Island 40 37 59 8.1 -32.2 428 759 -43.6
Bankruptcies 14 17 34 -17.6 -58.8 204 395 -48.4
Proposals 26 20 25 30.0 4.0 224 364 -38.5
Nova Scotia 245 274 480 -10.6 -49.0 3,517 6,099 -42.3
Bankruptcies 106 124 227 -14.5 -53.3 1,615 3,244 -50.2
Proposals 139 150 253 -7.3 -45.1 1,902 2,855 -33.4
New Brunswick 284 312 336 -9.0 -15.5 3,389 4,896 -30.8
Bankruptcies 123 158 147 -22.2 -16.3 1,502 2,377 -36.8
Proposals 161 154 189 4.5 -14.8 1,887 2,519 -25.1
Quebec 1,910 2,257 3,129 -15.4 -39.0 28,282 44,991 -37.1
Bankruptcies 977 1,049 1,501 -6.9 -34.9 12,972 21,658 -40.1
Proposals 933 1,208 1,628 -22.8 -42.7 15,310 23,333 -34.4
Ontario 2,660 2,845 3,409 -6.5 -22.0 34,751 45,754 -24.0
Bankruptcies 833 783 1,184 6.4 -29.6 9,749 15,229 -36.0
Proposals 1,827 2,062 2,225 -11.4 -17.9 25,002 30,525 -18.1
Manitoba 196 193 255 1.6 -23.1 2,562 3,185 -19.6
Bankruptcies 64 64 90 0.0 -28.9 815 1,377 -40.8
Proposals 132 129 165 2.3 -20.0 1,747 1,808 -3.4
Saskatchewan 262 219 281 19.6 -6.8 2,689 3,557 -24.4
Bankruptcies 76 84 119 -9.5 -36.1 918 1,381 -33.5
Proposals 186 135 162 37.8 14.8 1,771 2,176 -18.6
Alberta 1,090 1,104 1,333 -1.3 -18.2 13,249 16,898 -21.6
Bankruptcies 280 280 416 0.0 -32.7 3,724 5,744 -35.2
Proposals 810 824 917 -1.7 -11.7 9,525 11,154 -14.6
British Columbia 697 715 910 -2.5 -23.4 8,398 11,348 -26.0
Bankruptcies 178 178 315 0.0 -43.5 2,689 4,224 -36.3
Proposals 519 537 595 -3.4 -12.8 5,709 7,124 -19.9
Northwest Territories 6 0 5 n/a 20.0 47 68 -30.9
Bankruptcies 0 0 2 n/a -100.0 10 10 0.0
Proposals 6 0 3 n/a 100.0 37 58 -36.2
Yukon 4 7 2 -42.9 100.0 36 33 9.1
Bankruptcies 1 2 1 -50.0 0.0 11 13 -15.4
Proposals 3 5 1 -40.0 200.0 25 20 25.0
Nunavut 4 2 0 100.0 n/a 13 8 62.5
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 4 2 0 100.0 n/a 12 6 100.0
Canada 7,527 8,130 10,427 -7.4 -27.8 99,244 140,858 -29.5
Bankruptcies 2,697 2,780 4,131 -3.0 -34.7 34,988 57,155 -38.8
Proposals 4,830 5,350 6,296 -9.7 -23.3 64,256 83,703 -23.2
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Newfoundland and Labrador 129 163 225 -20.9 -42.7 1,873 3,221 -41.9
Bankruptcies 45 39 92 15.4 -51.1 768 1,466 -47.6
Proposals 84 124 133 -32.3 -36.8 1,105 1,755 -37.0
Prince Edward Island 40 37 57 8.1 -29.8 426 749 -43.1
Bankruptcies 14 17 32 -17.6 -56.3 203 386 -47.4
Proposals 26 20 25 30.0 4.0 223 363 -38.6
Nova Scotia 245 274 475 -10.6 -48.4 3,498 6,040 -42.1
Bankruptcies 106 124 222 -14.5 -52.3 1,599 3,193 -49.9
Proposals 139 150 253 -7.3 -45.1 1,899 2,847 -33.3
New Brunswick 279 309 336 -9.7 -17.0 3,365 4,851 -30.6
Bankruptcies 122 155 147 -21.3 -17.0 1,486 2,343 -36.6
Proposals 157 154 189 1.9 -16.9 1,879 2,508 -25.1
Quebec 1,775 2,142 2,947 -17.1 -39.8 26,683 42,865 -37.8
Bankruptcies 856 952 1,363 -10.1 -37.2 11,714 20,038 -41.5
Proposals 919 1,190 1,584 -22.8 -42.0 14,969 22,827 -34.4
Ontario 2,600 2,787 3,345 -6.7 -22.3 33,992 44,852 -24.2
Bankruptcies 787 747 1,146 5.4 -31.3 9,213 14,577 -36.8
Proposals 1,813 2,040 2,199 -11.1 -17.6 24,779 30,275 -18.2
Manitoba 194 193 250 0.5 -22.4 2,527 3,146 -19.7
Bankruptcies 62 64 86 -3.1 -27.9 787 1,344 -41.4
Proposals 132 129 164 2.3 -19.5 1,740 1,802 -3.4
Saskatchewan 257 216 274 19.0 -6.2 2,640 3,453 -23.5
Bankruptcies 71 81 112 -12.3 -36.6 878 1,317 -33.3
Proposals 186 135 162 37.8 14.8 1,762 2,136 -17.5
Alberta 1,083 1,086 1,315 -0.3 -17.6 13,089 16,675 -21.5
Bankruptcies 276 265 403 4.2 -31.5 3,602 5,589 -35.6
Proposals 807 821 912 -1.7 -11.5 9,487 11,086 -14.4
British Columbia 694 703 903 -1.3 -23.1 8,270 11,221 -26.3
Bankruptcies 176 169 311 4.1 -43.4 2,609 4,134 -36.9
Proposals 518 534 592 -3.0 -12.5 5,661 7,087 -20.1
Northwest Territories 6 0 5 n/a 20.0 47 66 -28.8
Bankruptcies 0 0 2 n/a -100.0 10 9 11.1
Proposals 6 0 3 n/a 100.0 37 57 -35.1
Yukon 4 7 2 -42.9 100.0 36 33 9.1
Bankruptcies 1 2 1 -50.0 0.0 11 13 -15.4
Proposals 3 5 1 -40.0 200.0 25 20 25.0
Nunavut 4 2 0 100.0 n/a 12 6 100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 4 2 0 100.0 n/a 12 6 100.0
Canada 7,310 7,919 10,134 -7.7 -27.9 96,458 137,178 -29.7
Bankruptcies 2,516 2,615 3,917 -3.8 -35.8 32,880 54,409 -39.6
Proposals 4,794 5,304 6,217 -9.6 -22.9 63,578 82,769 -23.2
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Newfoundland and Labrador 0 2 3 -100.0 -100.0 10 41 -75.6
Bankruptcies 0 2 3 -100.0 -100.0 10 35 -71.4
Proposals 0 0 0 n/a n/a 0 6 -100.0
Prince Edward Island 0 0 2 n/a -100.0 2 10 -80.0
Bankruptcies 0 0 2 n/a -100.0 1 9 -88.9
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 0 0 5 n/a -100.0 19 59 -67.8
Bankruptcies 0 0 5 n/a -100.0 16 51 -68.6
Proposals 0 0 0 n/a n/a 3 8 -62.5
New Brunswick 5 3 0 66.7 n/a 24 45 -46.7
Bankruptcies 1 3 0 -66.7 n/a 16 34 -52.9
Proposals 4 0 0 n/a n/a 8 11 -27.3
Quebec 135 115 182 17.4 -25.8 1,599 2,126 -24.8
Bankruptcies 121 97 138 24.7 -12.3 1,258 1,620 -22.3
Proposals 14 18 44 -22.2 -68.2 341 506 -32.6
Ontario 60 58 64 3.4 -6.3 759 902 -15.9
Bankruptcies 46 36 38 27.8 21.1 536 652 -17.8
Proposals 14 22 26 -36.4 -46.2 223 250 -10.8
Manitoba 2 0 5 n/a -60.0 35 39 -10.3
Bankruptcies 2 0 4 n/a -50.0 28 33 -15.2
Proposals 0 0 1 n/a -100.0 7 6 16.7
Saskatchewan 5 3 7 66.7 -28.6 49 104 -52.9
Bankruptcies 5 3 7 66.7 -28.6 40 64 -37.5
Proposals 0 0 0 n/a n/a 9 40 -77.5
Alberta 7 18 18 -61.1 -61.1 160 223 -28.3
Bankruptcies 4 15 13 -73.3 -69.2 122 155 -21.3
Proposals 3 3 5 0.0 -40.0 38 68 -44.1
British Columbia 3 12 7 -75.0 -57.1 128 127 0.8
Bankruptcies 2 9 4 -77.8 -50.0 80 90 -11.1
Proposals 1 3 3 -66.7 -66.7 48 37 29.7
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 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 217 211 293 2.8 -25.9 2,786 3,680 -24.3
Bankruptcies 181 165 214 9.7 -15.4 2,108 2,746 -23.2
Proposals 36 46 79 -21.7 -54.4 678 934 -27.4
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Newfoundland and Labrador 0 0 0 n/a n/a 3 13 -76.9
Bankruptcies 0 0 0 n/a n/a 3 10 -70.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
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 0 0 4 n/a -100.0 11 31 -64.5
Bankruptcies 0 0 4 n/a -100.0 9 24 -62.5
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 2 3 0 -33.3 n/a 14 29 -51.7
Bankruptcies 1 3 0 -66.7 n/a 12 23 -47.8
Proposals 1 0 0 n/a n/a 2 6 -66.7
Quebec 126 90 161 40.0 -21.7 1,414 1,862 -24.1
Bankruptcies 115 78 125 47.4 -8.0 1,138 1,453 -21.7
Proposals 11 12 36 -8.3 -69.4 276 409 -32.5
Ontario 36 34 37 5.9 -2.7 490 488 0.4
Bankruptcies 31 26 22 19.2 40.9 381 362 5.2
Proposals 5 8 15 -37.5 -66.7 109 126 -13.5
Manitoba 1 0 3 n/a -66.7 14 13 7.7
Bankruptcies 1 0 2 n/a -50.0 9 11 -18.2
Proposals 0 0 1 n/a -100.0 5 2 150.0
Saskatchewan 3 2 0 50.0 n/a 13 8 62.5
Bankruptcies 3 2 0 50.0 n/a 11 5 120.0
Proposals 0 0 0 n/a n/a 2 3 -33.3
Alberta 3 14 10 -78.6 -70.0 96 117 -17.9
Bankruptcies 2 13 7 -84.6 -71.4 76 83 -8.4
Proposals 1 1 3 0.0 -66.7 20 34 -41.2
British Columbia 1 7 0 -85.7 n/a 85 54 57.4
Bankruptcies 0 5 0 -100.0 n/a 54 36 50.0
Proposals 1 2 0 -50.0 n/a 31 18 72.2
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 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 172 150 215 14.7 -20.0 2,142 2,622 -18.3
Bankruptcies 153 127 160 20.5 -4.4 1,694 2,012 -15.8
Proposals 19 23 55 -17.4 -65.5 448 610 -26.6
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Newfoundland and Labrador 0 2 3 -100.0 -100.0 7 28 -75.0
Bankruptcies 0 2 3 -100.0 -100.0 7 25 -72.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
Prince Edward Island 0 0 2 n/a -100.0 1 6 -83.3
Bankruptcies 0 0 2 n/a -100.0 1 6 -83.3
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 0 0 1 n/a -100.0 8 28 -71.4
Bankruptcies 0 0 1 n/a -100.0 7 27 -74.1
Proposals 0 0 0 n/a n/a 1 1 0.0
New Brunswick 3 0 0 n/a n/a 10 16 -37.5
Bankruptcies 0 0 0 n/a n/a 4 11 -63.6
Proposals 3 0 0 n/a n/a 6 5 20.0
Quebec 9 25 21 -64.0 -57.1 185 264 -29.9
Bankruptcies 6 19 13 -68.4 -53.8 120 167 -28.1
Proposals 3 6 8 -50.0 -62.5 65 97 -33.0
Ontario 24 24 27 0.0 -11.1 269 414 -35.0
Bankruptcies 15 10 16 50.0 -6.3 155 290 -46.6
Proposals 9 14 11 -35.7 -18.2 114 124 -8.1
Manitoba 1 0 2 n/a -50.0 21 26 -19.2
Bankruptcies 1 0 2 n/a -50.0 19 22 -13.6
Proposals 0 0 0 n/a n/a 2 4 -50.0
Saskatchewan 2 1 7 100.0 -71.4 36 96 -62.5
Bankruptcies 2 1 7 100.0 -71.4 29 59 -50.8
Proposals 0 0 0 n/a n/a 7 37 -81.1
Alberta 4 4 8 0.0 -50.0 64 106 -39.6
Bankruptcies 2 2 6 0.0 -66.7 46 72 -36.1
Proposals 2 2 2 0.0 0.0 18 34 -47.1
British Columbia 2 5 7 -60.0 -71.4 43 73 -41.1
Bankruptcies 2 4 4 -50.0 -50.0 26 54 -51.9
Proposals 0 1 3 -100.0 -100.0 17 19 -10.5
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 45 61 78 -26.2 -42.3 644 1,058 -39.1
Bankruptcies 28 38 54 -26.3 -48.1 414 734 -43.6
Proposals 17 23 24 -26.1 -29.2 230 324 -29.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
December 2020 November 2020 December 2019 Nov. 2020 to
Dec. 2020
Dec. 2019
to Dec. 2020
12-31-2020 12-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting 5 6 2 -16.7 150.0 61 64 -4.7
Bankruptcies 3 4 2 -25.0 50.0 44 46 -4.3
Proposals 2 2 0 0.0 n/a 17 18 -5.6
Mining and Oil and Gas Extraction 2 4 2 -50.0 0.0 36 42 -14.3
Bankruptcies 2 3 2 -33.3 0.0 25 25 0.0
Proposals 0 1 0 -100.0 n/a 11 17 -35.3
Utilities 0 0 1 n/a -100.0 5 7 -28.6
Bankruptcies 0 0 0 n/a n/a 5 4 25.0
Proposals 0 0 1 n/a -100.0 0 3 -100.0
Construction 18 27 38 -33.3 -52.6 338 684 -50.6
Bankruptcies 17 23 26 -26.1 -34.6 258 499 -48.3
Proposals 1 4 12 -75.0 -91.7 80 185 -56.8
Manufacturing 16 18 40 -11.1 -60.0 231 338 -31.7
Bankruptcies 14 12 27 16.7 -48.1 165 243 -32.1
Proposals 2 6 13 -66.7 -84.6 66 95 -30.5
Wholesale Trade 10 17 18 -41.2 -44.4 139 191 -27.2
Bankruptcies 6 14 10 -57.1 -40.0 110 132 -16.7
Proposals 4 3 8 33.3 -50.0 29 59 -50.8
Retail Trade 22 26 37 -15.4 -40.5 377 384 -1.8
Bankruptcies 19 22 25 -13.6 -24.0 270 293 -7.8
Proposals 3 4 12 -25.0 -75.0 107 91 17.6
Transportation and Warehousing 15 10 23 50.0 -34.8 164 219 -25.1
Bankruptcies 10 8 19 25.0 -47.4 123 164 -25.0
Proposals 5 2 4 150.0 25.0 41 55 -25.5
Information and Cultural Industries 4 2 5 100.0 -20.0 48 80 -40.0
Bankruptcies 3 2 4 50.0 -25.0 36 60 -40.0
Proposals 1 0 1 n/a 0.0 12 20 -40.0
Finance and Insurance 7 4 3 75.0 133.3 38 63 -39.7
Bankruptcies 7 3 3 133.3 133.3 28 52 -46.2
Proposals 0 1 0 -100.0 n/a 10 11 -9.1
Real Estate and Rental and Leasing 21 17 20 23.5 5.0 140 159 -11.9
Bankruptcies 21 12 14 75.0 50.0 102 119 -14.3
Proposals 0 5 6 -100.0 -100.0 38 40 -5.0
Professional, Scientific and Technical Services 19 21 15 -9.5 26.7 186 285 -34.7
Bankruptcies 16 20 12 -20.0 33.3 142 224 -36.6
Proposals 3 1 3 200.0 0.0 44 61 -27.9
Management of Companies and Enterprises 8 5 5 60.0 60.0 96 84 14.3
Bankruptcies 8 3 5 166.7 60.0 68 68 0.0
Proposals 0 2 0 -100.0 n/a 28 16 75.0
Administrative and Support, Waste Management and Remediation Services 13 7 15 85.7 -13.3 120 175 -31.4
Bankruptcies 9 5 13 80.0 -30.8 84 124 -32.3
Proposals 4 2 2 100.0 100.0 36 51 -29.4
Educational Services 3 6 1 -50.0 200.0 39 33 18.2
Bankruptcies 3 4 1 -25.0 200.0 32 23 39.1
Proposals 0 2 0 -100.0 n/a 7 10 -30.0
Health Care and Social Assistance 5 5 1 0.0 400.0 68 85 -20.0
Bankruptcies 4 4 1 0.0 300.0 53 58 -8.6
Proposals 1 1 0 0.0 n/a 15 27 -44.4
Arts, Entertainment and Recreation 6 7 7 -14.3 -14.3 117 78 50.0
Bankruptcies 4 6 5 -33.3 -20.0 93 62 50.0
Proposals 2 1 2 100.0 0.0 24 16 50.0
Accommodation and Food Services 31 25 43 24.0 -27.9 441 506 -12.8
Bankruptcies 25 17 34 47.1 -26.5 357 400 -10.8
Proposals 6 8 9 -25.0 -33.3 84 106 -20.8
Other Services (except Public Administration) 12 4 17 200.0 -29.4 139 203 -31.5
Bankruptcies 10 3 11 233.3 -9.1 111 150 -26.0
Proposals 2 1 6 100.0 -66.7 28 53 -47.2
Public Administration 0 0 0 n/a n/a 3 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 1 0 n/a
Total 217 211 293 2.8 -25.9 2,786 3,680 -24.3
Bankruptcies 181 165 214 9.7 -15.4 2,108 2,746 -23.2
Proposals 36 46 79 -21.7 -54.4 678 934 -27.4
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