Insolvency Statistics in Canada—First Quarter of 2018

Tables

Glossary

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.
Census Metropolitan Area (CMA):
Each area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000. For Statistics Canada's geographical definitions of the CMAs, go to CMA and CA: Detailed definition.
Consumer:
An individual with more than 50% of total liabilities related to consumer goods and services.
Economic Region (ER):
Standard geographical units created for analysis of regional economic activity. For Statistics Canada's geographical definitions of ERs, go to Economic region (ER).
NAICS:
North American Industry Classification System.
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
province Volume % Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017
to
Q1 2018
Q1 2017
to
Q1 2018
03-31-2018 03-31-2017 % Change
Newfoundland and Labrador 695 658 603 5.6 15.3 2,607 2,482 5.0
Bankruptcies 315 356 339 -11.5 -7.1 1,366 1,546 -11.6
Proposals 380 302 264 25.8 43.9 1,241 936 32.6
Prince Edward Island 192 169 180 13.6 6.7 697 793 -12.1
Bankruptcies 113 90 94 25.6 20.2 416 477 -12.8
Proposals 79 79 86 0.0 -8.1 281 316 -11.1
Nova Scotia 1,315 1,332 1,379 -1.3 -4.6 5,709 6,108 -6.5
Bankruptcies 799 853 899 -6.3 -11.1 3,750 4,225 -11.2
Proposals 516 479 480 7.7 7.5 1,959 1,883 4.0
New Brunswick 947 1,104 991 -14.2 -4.4 4,374 4,519 -3.2
Bankruptcies 458 582 562 -21.3 -18.5 2,396 2,866 -16.4
Proposals 489 522 429 -6.3 14.0 1,978 1,653 19.7
Quebec 11,301 10,861 11,137 4.1 1.5 43,895 44,917 -2.3
Bankruptcies 5,664 5,874 6,016 -3.6 -5.9 23,858 25,572 -6.7
Proposals 5,637 4,987 5,121 13.0 10.1 20,037 19,345 3.6
Ontario 9,507 9,480 9,868 0.3 -3.7 38,684 40,274 -3.9
Bankruptcies 3,638 3,881 3,928 -6.3 -7.4 15,678 17,247 -9.1
Proposals 5,869 5,599 5,940 4.8 -1.2 23,006 23,027 -0.1
Manitoba 580 713 649 -18.7 -10.6 2,574 2,691 -4.3
Bankruptcies 269 403 314 -33.3 -14.3 1,363 1,470 -7.3
Proposals 311 310 335 0.3 -7.2 1,211 1,221 -0.8
Saskatchewan 799 818 764 -2.3 4.6 3,293 3,156 4.3
Bankruptcies 303 383 338 -20.9 -10.4 1,437 1,504 -4.5
Proposals 496 435 426 14.0 16.4 1,856 1,652 12.3
Alberta 3,463 3,334 3,390 3.9 2.2 13,554 13,494 0.4
Bankruptcies 1,227 1,238 1,348 -0.9 -9.0 5,018 5,487 -8.5
Proposals 2,236 2,096 2,042 6.7 9.5 8,536 8,007 6.6
British Columbia 2,494 2,446 2,633 2.0 -5.3 9,997 10,686 -6.4
Bankruptcies 1,064 958 1,154 11.1 -7.8 4,173 4,664 -10.5
Proposals 1,430 1,488 1,479 -3.9 -3.3 5,824 6,022 -3.3
Northwest Territories 24 30 11 -20.0 118.2 94 61 54.1
Bankruptcies 9 21 3 -57.1 200.0 58 33 75.8
Proposals 15 9 8 66.7 87.5 36 28 28.6
Yukon 10 13 8 -23.1 25.0 39 48 -18.8
Bankruptcies 4 5 3 -20.0 33.3 19 23 -17.4
Proposals 6 8 5 -25.0 20.0 20 25 -20.0
Nunavut 0 4 0 -100.0 n/a 4 5 -20.0
Bankruptcies 0 2 0 -100.0 n/a 2 2 0.0
Proposals 0 2 0 -100.0 n/a 2 3 -33.3
Canada 31,327 30,962 31,613 1.2 -0.9 125,521 129,234 -2.9
Bankruptcies 13,863 14,646 14,998 -5.3 -7.6 59,534 65,116 -8.6
Proposals 17,464 16,316 16,615 7.0 5.1 65,987 64,118 2.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017
to
Q1 2018
Q1 2017
to
Q1 2018
03-31-2018 03-31-2017 % Change
Newfoundland and Labrador 691 648 593 6.6 16.5 2,577 2,449 5.2
Bankruptcies 311 351 335 -11.4 -7.2 1,343 1,523 -11.8
Proposals 380 297 258 27.9 47.3 1,234 926 33.3
Prince Edward Island 191 169 174 13.0 9.8 690 775 -11.0
Bankruptcies 112 90 88 24.4 27.3 411 465 -11.6
Proposals 79 79 86 0.0 -8.1 279 310 -10.0
Nova Scotia 1,299 1,322 1,370 -1.7 -5.2 5,653 6,037 -6.4
Bankruptcies 787 845 890 -6.9 -11.6 3,704 4,166 -11.1
Proposals 512 477 480 7.3 6.7 1,949 1,871 4.2
New Brunswick 942 1,084 983 -13.1 -4.2 4,320 4,469 -3.3
Bankruptcies 453 571 554 -20.7 -18.2 2,356 2,825 -16.6
Proposals 489 513 429 -4.7 14.0 1,964 1,644 19.5
Quebec 10,743 10,330 10,592 4.0 1.4 41,821 42,804 -2.3
Bankruptcies 5,242 5,473 5,619 -4.2 -6.7 22,270 24,007 -7.2
Proposals 5,501 4,857 4,973 13.3 10.6 19,551 18,797 4.0
Ontario 9,272 9,251 9,644 0.2 -3.9 37,795 39,335 -3.9
Bankruptcies 3,458 3,721 3,771 -7.1 -8.3 15,023 16,567 -9.3
Proposals 5,814 5,530 5,873 5.1 -1.0 22,772 22,768 0.0
Manitoba 572 703 637 -18.6 -10.2 2,539 2,636 -3.7
Bankruptcies 261 395 302 -33.9 -13.6 1,334 1,429 -6.6
Proposals 311 308 335 1.0 -7.2 1,205 1,207 -0.2
Saskatchewan 772 775 734 -0.4 5.2 3,160 3,045 3.8
Bankruptcies 288 347 320 -17.0 -10.0 1,336 1,423 -6.1
Proposals 484 428 414 13.1 16.9 1,824 1,622 12.5
Alberta 3,416 3,282 3,355 4.1 1.8 13,347 13,328 0.1
Bankruptcies 1,196 1,203 1,321 -0.6 -9.5 4,883 5,360 -8.9
Proposals 2,220 2,079 2,034 6.8 9.1 8,464 7,968 6.2
British Columbia 2,465 2,414 2,583 2.1 -4.6 9,873 10,495 -5.9
Bankruptcies 1,042 938 1,110 11.1 -6.1 4,078 4,511 -9.6
Proposals 1,423 1,476 1,473 -3.6 -3.4 5,795 5,984 -3.2
Northwest Territories 24 30 11 -20.0 118.2 93 61 52.5
Bankruptcies 9 21 3 -57.1 200.0 57 33 72.7
Proposals 15 9 8 66.7 87.5 36 28 28.6
Yukon 10 13 8 -23.1 25.0 39 48 -18.8
Bankruptcies 4 5 3 -20.0 33.3 19 23 -17.4
Proposals 6 8 5 -25.0 20.0 20 25 -20.0
Nunavut 0 4 0 -100.0 n/a 4 4 0.0
Bankruptcies 0 2 0 -100.0 n/a 2 1 100.0
Proposals 0 2 0 -100.0 n/a 2 3 -33.3
Canada 30,397 30,025 30,684 1.2 -0.9 121,911 125,486 -2.8
Bankruptcies 13,163 13,962 14,316 -5.7 -8.1 56,816 62,333 -8.9
Proposals 17,234 16,063 16,368 7.3 5.3 65,095 63,153 3.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017
to
Q1 2018
Q1 2017
to
Q1 2018
03-31-2018 03-31-2017 % Change
Newfoundland and Labrador 4 10 10 -60.0 -60.0 30 33 -9.1
Bankruptcies 4 5 4 -20.0 0.0 23 23 0.0
Proposals 0 5 6 -100.0 -100.0 7 10 -30.0
Prince Edward Island 1 0 6 n/a -83.3 7 18 -61.1
Bankruptcies 1 0 6 n/a -83.3 5 12 -58.3
Proposals 0 0 0 n/a n/a 2 6 -66.7
Nova Scotia 16 10 9 60.0 77.8 56 71 -21.1
Bankruptcies 12 8 9 50.0 33.3 46 59 -22.0
Proposals 4 2 0 100.0 n/a 10 12 -16.7
New Brunswick 5 20 8 -75.0 -37.5 54 50 8.0
Bankruptcies 5 11 8 -54.5 -37.5 40 41 -2.4
Proposals 0 9 0 -100.0 n/a 14 9 55.6
Quebec 558 531 545 5.1 2.4 2,074 2,113 -1.8
Bankruptcies 422 401 397 5.2 6.3 1,588 1,565 1.5
Proposals 136 130 148 4.6 -8.1 486 548 -11.3
Ontario 235 229 224 2.6 4.9 889 939 -5.3
Bankruptcies 180 160 157 12.5 14.6 655 680 -3.7
Proposals 55 69 67 -20.3 -17.9 234 259 -9.7
Manitoba 8 10 12 -20.0 -33.3 35 55 -36.4
Bankruptcies 8 8 12 0.0 -33.3 29 41 -29.3
Proposals 0 2 0 -100.0 n/a 6 14 -57.1
Saskatchewan 27 43 30 -37.2 -10.0 133 111 19.8
Bankruptcies 15 36 18 -58.3 -16.7 101 81 24.7
Proposals 12 7 12 71.4 0.0 32 30 6.7
Alberta 47 52 35 -9.6 34.3 207 166 24.7
Bankruptcies 31 35 27 -11.4 14.8 135 127 6.3
Proposals 16 17 8 -5.9 100.0 72 39 84.6
British Columbia 29 32 50 -9.4 -42.0 124 191 -35.1
Bankruptcies 22 20 44 10.0 -50.0 95 153 -37.9
Proposals 7 12 6 -41.7 16.7 29 38 -23.7
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 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
Canada 930 937 929 -0.7 0.1 3,610 3,748 -3.7
Bankruptcies 700 684 682 2.3 2.6 2,718 2,783 -2.3
Proposals 230 253 247 -9.1 -6.9 892 965 -7.6
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