Insolvency Statistics in Canada—Second 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
Q2 2018 Q1 2018 Q2 2017 Q1 2018
to
Q2 2018
Q2 2017
to
Q2 2018
06-30-2018 06-30-2017 % Change
Newfoundland and Labrador 745 695 655 7.2 13.7 2,697 2,436 10.7
Bankruptcies 379 315 381 20.3 -0.5 1,364 1,468 -7.1
Proposals 366 380 274 -3.7 33.6 1,333 968 37.7
Prince Edward Island 189 192 167 -1.6 13.2 719 752 -4.4
Bankruptcies 120 113 113 6.2 6.2 423 466 -9.2
Proposals 69 79 54 -12.7 27.8 296 286 3.5
Nova Scotia 1,555 1,315 1,566 18.3 -0.7 5,698 6,003 -5.1
Bankruptcies 979 799 1,104 22.5 -11.3 3,625 4,128 -12.2
Proposals 576 516 462 11.6 24.7 2,073 1,875 10.6
New Brunswick 1,186 947 1,197 25.2 -0.9 4,363 4,464 -2.3
Bankruptcies 621 458 724 35.6 -14.2 2,293 2,742 -16.4
Proposals 565 489 473 15.5 19.5 2,070 1,722 20.2
Quebec 11,109 11,301 11,422 -1.7 -2.7 43,582 44,096 -1.2
Bankruptcies 5,930 5,664 6,497 4.7 -8.7 23,291 24,941 -6.6
Proposals 5,179 5,637 4,925 -8.1 5.2 20,291 19,155 5.9
Ontario 10,435 9,507 10,300 9.8 1.3 38,819 39,522 -1.8
Bankruptcies 4,202 3,638 4,376 15.5 -4.0 15,504 16,668 -7.0
Proposals 6,233 5,869 5,924 6.2 5.2 23,315 22,854 2.0
Manitoba 793 580 637 36.7 24.5 2,730 2,595 5.2
Bankruptcies 406 269 346 50.9 17.3 1,423 1,392 2.2
Proposals 387 311 291 24.4 33.0 1,307 1,203 8.6
Saskatchewan 871 799 853 9.0 2.1 3,311 3,186 3.9
Bankruptcies 326 303 419 7.6 -22.2 1,344 1,504 -10.6
Proposals 545 496 434 9.9 25.6 1,967 1,682 16.9
Alberta 3,884 3,463 3,426 12.2 13.4 14,012 13,361 4.9
Bankruptcies 1,343 1,227 1,343 9.5 0.0 5,018 5,346 -6.1
Proposals 2,541 2,236 2,083 13.6 22.0 8,994 8,015 12.2
British Columbia 2,731 2,494 2,660 9.5 2.7 10,068 10,332 -2.6
Bankruptcies 1,125 1,064 1,190 5.7 -5.5 4,108 4,525 -9.2
Proposals 1,606 1,430 1,470 12.3 9.3 5,960 5,807 2.6
Northwest Territories 25 24 16 4.2 56.3 103 63 63.5
Bankruptcies 15 9 10 66.7 50.0 63 34 85.3
Proposals 10 15 6 -33.3 66.7 40 29 37.9
Yukon 9 10 8 -10.0 12.5 40 38 5.3
Bankruptcies 4 4 7 0.0 -42.9 16 20 -20.0
Proposals 5 6 1 -16.7 400.0 24 18 33.3
Nunavut 2 0 0 n/a n/a 6 3 100.0
Bankruptcies 0 0 0 n/a n/a 2 1 100.0
Proposals 2 0 0 n/a n/a 4 2 100.0
Canada 33,534 31,327 32,907 7.0 1.9 126,148 126,851 -0.6
Bankruptcies 15,450 13,863 16,510 11.4 -6.4 58,474 63,235 -7.5
Proposals 18,084 17,464 16,397 3.6 10.3 67,674 63,616 6.4
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q2 2018 Q1 2018 Q2 2017 Q1 2018
to
Q2 2018
Q2 2017
to
Q2 2018
06-30-2018 06-30-2017 % Change
Newfoundland and Labrador 742 691 646 7.4 14.9 2,673 2,401 11.3
Bankruptcies 376 311 373 20.9 0.8 1,346 1,442 -6.7
Proposals 366 380 273 -3.7 34.1 1,327 959 38.4
Prince Edward Island 188 191 163 -1.6 15.3 715 738 -3.1
Bankruptcies 119 112 111 6.3 7.2 419 455 -7.9
Proposals 69 79 52 -12.7 32.7 296 283 4.6
Nova Scotia 1,548 1,299 1,553 19.2 -0.3 5,648 5,944 -5.0
Bankruptcies 974 787 1,092 23.8 -10.8 3,586 4,077 -12.0
Proposals 574 512 461 12.1 24.5 2,062 1,867 10.4
New Brunswick 1,171 942 1,174 24.3 -0.3 4,317 4,406 -2.0
Bankruptcies 606 453 706 33.8 -14.2 2,256 2,694 -16.3
Proposals 565 489 468 15.5 20.7 2,061 1,712 20.4
Quebec 10,596 10,743 10,877 -1.4 -2.6 41,540 42,003 -1.1
Bankruptcies 5,557 5,242 6,060 6.0 -8.3 21,767 23,355 -6.8
Proposals 5,039 5,501 4,817 -8.4 4.6 19,773 18,648 6.0
Ontario 10,201 9,272 10,090 10.0 1.1 37,906 38,646 -1.9
Bankruptcies 4,025 3,458 4,218 16.4 -4.6 14,830 16,023 -7.4
Proposals 6,176 5,814 5,872 6.2 5.2 23,076 22,623 2.0
Manitoba 787 572 627 37.6 25.5 2,699 2,549 5.9
Bankruptcies 401 261 337 53.6 19.0 1,398 1,355 3.2
Proposals 386 311 290 24.1 33.1 1,301 1,194 9.0
Saskatchewan 848 772 812 9.8 4.4 3,196 3,062 4.4
Bankruptcies 310 288 387 7.6 -19.9 1,259 1,411 -10.8
Proposals 538 484 425 11.2 26.6 1,937 1,651 17.3
Alberta 3,833 3,416 3,366 12.2 13.9 13,814 13,168 4.9
Bankruptcies 1,302 1,196 1,302 8.9 0.0 4,883 5,207 -6.2
Proposals 2,531 2,220 2,064 14.0 22.6 8,931 7,961 12.2
British Columbia 2,706 2,465 2,623 9.8 3.2 9,956 10,157 -2.0
Bankruptcies 1,105 1,042 1,159 6.0 -4.7 4,024 4,386 -8.3
Proposals 1,601 1,423 1,464 12.5 9.4 5,932 5,771 2.8
Northwest Territories 25 24 15 4.2 66.7 103 62 66.1
Bankruptcies 15 9 9 66.7 66.7 63 33 90.9
Proposals 10 15 6 -33.3 66.7 40 29 37.9
Yukon 9 10 8 -10.0 12.5 40 38 5.3
Bankruptcies 4 4 7 0.0 -42.9 16 20 -20.0
Proposals 5 6 1 -16.7 400.0 24 18 33.3
Nunavut 2 0 0 n/a n/a 6 3 100.0
Bankruptcies 0 0 0 n/a n/a 2 1 100.0
Proposals 2 0 0 n/a n/a 4 2 100.0
Canada 32,656 30,397 31,954 7.4 2.2 122,613 123,177 -0.5
Bankruptcies 14,794 13,163 15,761 12.4 -6.1 55,849 60,459 -7.6
Proposals 17,862 17,234 16,193 3.6 10.3 66,764 62,718 6.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q2 2018 Q1 2018 Q2 2017 Q1 2018
to
Q2 2018
Q2 2017
to
Q2 2018
06-30-2018 06-30-2017 % Change
Newfoundland and Labrador 3 4 9 -25.0 -66.7 24 35 -31.4
Bankruptcies 3 4 8 -25.0 -62.5 18 26 -30.8
Proposals 0 0 1 n/a -100.0 6 9 -33.3
Prince Edward Island 1 1 4 0.0 -75.0 4 14 -71.4
Bankruptcies 1 1 2 0.0 -50.0 4 11 -63.6
Proposals 0 0 2 n/a -100.0 0 3 -100.0
Nova Scotia 7 16 13 -56.3 -46.2 50 59 -15.3
Bankruptcies 5 12 12 -58.3 -58.3 39 51 -23.5
Proposals 2 4 1 -50.0 100.0 11 8 37.5
New Brunswick 15 5 23 200.0 -34.8 46 58 -20.7
Bankruptcies 15 5 18 200.0 -16.7 37 48 -22.9
Proposals 0 0 5 n/a -100.0 9 10 -10.0
Quebec 513 558 545 -8.1 -5.9 2,042 2,093 -2.4
Bankruptcies 373 422 437 -11.6 -14.6 1,524 1,586 -3.9
Proposals 140 136 108 2.9 29.6 518 507 2.2
Ontario 234 235 210 -0.4 11.4 913 876 4.2
Bankruptcies 177 180 158 -1.7 12.0 674 645 4.5
Proposals 57 55 52 3.6 9.6 239 231 3.5
Manitoba 6 8 10 -25.0 -40.0 31 46 -32.6
Bankruptcies 5 8 9 -37.5 -44.4 25 37 -32.4
Proposals 1 0 1 n/a 0.0 6 9 -33.3
Saskatchewan 23 27 41 -14.8 -43.9 115 124 -7.3
Bankruptcies 16 15 32 6.7 -50.0 85 93 -8.6
Proposals 7 12 9 -41.7 -22.2 30 31 -3.2
Alberta 51 47 60 8.5 -15.0 198 193 2.6
Bankruptcies 41 31 41 32.3 0.0 135 139 -2.9
Proposals 10 16 19 -37.5 -47.4 63 54 16.7
British Columbia 25 29 37 -13.8 -32.4 112 175 -36.0
Bankruptcies 20 22 31 -9.1 -35.5 84 139 -39.6
Proposals 5 7 6 -28.6 -16.7 28 36 -22.2
Northwest Territories 0 0 1 n/a -100.0 0 1 -100.0
Bankruptcies 0 0 1 n/a -100.0 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 878 930 953 -5.6 -7.9 3,535 3,674 -3.8
Bankruptcies 656 700 749 -6.3 -12.4 2,625 2,776 -5.4
Proposals 222 230 204 -3.5 8.8 910 898 1.3
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