Insolvency Statistics in Canada—Third 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).

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.

Table 1: Total Insolvencies

Volume

% Change

12-Month Period Ending

Q3 2018

Q2 2018

Q3 2017

Q2 2018
to
Q3 2018

Q3 2017
to
Q3 2018

09-30-2018

09-30-2017

% Change

Newfoundland and Labrador

679

745

599

-8.9

13.4

2,777

2,434

14.1

Bankruptcies

359

379

314

-5.3

14.3

1,409

1,396

0.9

Proposals

320

366

285

-12.6

12.3

1,368

1,038

31.8

Prince Edward Island

165

189

169

-12.7

-2.4

715

712

0.4

Bankruptcies

93

120

100

-22.5

-7.0

416

432

-3.7

Proposals

72

69

69

4.3

4.3

299

280

6.8

Nova Scotia

1,379

1,555

1,496

-11.3

-7.8

5,581

5,906

-5.5

Bankruptcies

886

979

994

-9.5

-10.9

3,517

4,032

-12.8

Proposals

493

576

502

-14.4

-1.8

2,064

1,874

10.1

New Brunswick

1,199

1,186

1,126

1.1

6.5

4,436

4,479

-1.0

Bankruptcies

616

621

632

-0.8

-2.5

2,277

2,659

-14.4

Proposals

583

565

494

3.2

18.0

2,159

1,820

18.6

Quebec

10,473

11,109

10,311

-5.7

1.6

43,744

43,681

0.1

Bankruptcies

5,523

5,930

5,823

-6.9

-5.2

22,991

24,607

-6.6

Proposals

4,950

5,179

4,488

-4.4

10.3

20,753

19,074

8.8

Ontario

9,622

10,435

9,397

-7.8

2.4

39,044

39,225

-0.5

Bankruptcies

3,744

4,202

3,783

-10.9

-1.0

15,465

16,273

-5.0

Proposals

5,878

6,233

5,614

-5.7

4.7

23,579

22,952

2.7

Manitoba

685

793

644

-13.6

6.4

2,771

2,604

6.4

Bankruptcies

333

406

345

-18.0

-3.5

1,411

1,376

2.5

Proposals

352

387

299

-9.0

17.7

1,360

1,228

10.7

Saskatchewan

927

871

823

6.4

12.6

3,415

3,220

6.1

Bankruptcies

364

326

332

11.7

9.6

1,376

1,465

-6.1

Proposals

563

545

491

3.3

14.7

2,039

1,755

16.2

Alberta

3,566

3,884

3,331

-8.2

7.1

14,247

13,414

6.2

Bankruptcies

1,238

1,343

1,210

-7.8

2.3

5,046

5,251

-3.9

Proposals

2,328

2,541

2,121

-8.4

9.8

9,201

8,163

12.7

British Columbia

2,421

2,731

2,397

-11.4

1.0

10,092

10,134

-0.4

Bankruptcies

992

1,125

961

-11.8

3.2

4,139

4,361

-5.1

Proposals

1,429

1,606

1,436

-11.0

-0.5

5,953

5,773

3.1

Northwest Territories

18

25

24

-28.0

-25.0

97

68

42.6

Bankruptcies

10

15

18

-33.3

-44.4

55

43

27.9

Proposals

8

10

6

-20.0

33.3

42

25

68.0

Yukon

4

9

8

-55.6

-50.0

36

33

9.1

Bankruptcies

0

4

3

-100.0

-100.0

13

16

-18.8

Proposals

4

5

5

-20.0

-20.0

23

17

35.3

Nunavut

1

2

0

-50.0

n/a

7

2

250.0

Bankruptcies

0

0

0

n/a

n/a

2

0

n/a

Proposals

1

2

0

-50.0

n/a

5

2

150.0

Canada

31,139

33,534

30,325

-7.1

2.7

126,962

125,912

0.8

Bankruptcies

14,158

15,450

14,515

-8.4

-2.5

58,117

61,911

-6.1

Proposals

16,981

18,084

15,810

-6.1

7.4

68,845

64,001

7.6

Table 2: Insolvencies Filed by Consumers

Volume

% Change

12-Month Period Ending

Q3 2018

Q2 2018

Q3 2017

Q2 2018
to
Q3 2018

Q3 2017
to
Q3 2018

09-30-2018

09-30-2017

% Change

Newfoundland and Labrador

672

742

592

-9.4

13.5

2,753

2,398

14.8

Bankruptcies

353

376

308

-6.1

14.6

1,391

1,369

1.6

Proposals

319

366

284

-12.8

12.3

1,362

1,029

32.4

Prince Edward Island

163

188

167

-13.3

-2.4

711

699

1.7

Bankruptcies

92

119

98

-22.7

-6.1

413

422

-2.1

Proposals

71

69

69

2.9

2.9

298

277

7.6

Nova Scotia

1,363

1,548

1,479

-12.0

-7.8

5,532

5,849

-5.4

Bankruptcies

877

974

980

-10.0

-10.5

3,483

3,984

-12.6

Proposals

486

574

499

-15.3

-2.6

2,049

1,865

9.9

New Brunswick

1,191

1,171

1,120

1.7

6.3

4,388

4,429

-0.9

Bankruptcies

611

606

626

0.8

-2.4

2,241

2,616

-14.3

Proposals

580

565

494

2.7

17.4

2,147

1,813

18.4

Quebec

9,998

10,596

9,871

-5.6

1.3

41,667

41,625

0.1

Bankruptcies

5,163

5,557

5,495

-7.1

-6.0

21,435

23,045

-7.0

Proposals

4,835

5,039

4,376

-4.0

10.5

20,232

18,580

8.9

Ontario

9,407

10,201

9,182

-7.8

2.5

38,131

38,351

-0.6

Bankruptcies

3,590

4,025

3,626

-10.8

-1.0

14,794

15,638

-5.4

Proposals

5,817

6,176

5,556

-5.8

4.7

23,337

22,713

2.7

Manitoba

676

787

637

-14.1

6.1

2,738

2,561

6.9

Bankruptcies

325

401

341

-19.0

-4.7

1,382

1,344

2.8

Proposals

351

386

296

-9.1

18.6

1,356

1,217

11.4

Saskatchewan

906

848

801

6.8

13.1

3,301

3,099

6.5

Bankruptcies

354

310

314

14.2

12.7

1,299

1,375

-5.5

Proposals

552

538

487

2.6

13.3

2,002

1,724

16.1

Alberta

3,514

3,833

3,283

-8.3

7.0

14,045

13,208

6.3

Bankruptcies

1,198

1,302

1,182

-8.0

1.4

4,899

5,111

-4.1

Proposals

2,316

2,531

2,101

-8.5

10.2

9,146

8,097

13.0

British Columbia

2,400

2,706

2,371

-11.3

1.2

9,985

9,975

0.1

Bankruptcies

976

1,105

939

-11.7

3.9

4,061

4,230

-4.0

Proposals

1,424

1,601

1,432

-11.1

-0.6

5,924

5,745

3.1

Northwest Territories

18

25

24

-28.0

-25.0

97

67

44.8

Bankruptcies

10

15

18

-33.3

-44.4

55

42

31.0

Proposals

8

10

6

-20.0

33.3

42

25

68.0

Yukon

4

9

8

-55.6

-50.0

36

33

9.1

Bankruptcies

0

4

3

-100.0

-100.0

13

16

-18.8

Proposals

4

5

5

-20.0

-20.0

23

17

35.3

Nunavut

1

2

0

-50.0

n/a

7

2

250.0

Bankruptcies

0

0

0

n/a

n/a

2

0

n/a

Proposals

1

2

0

-50.0

n/a

5

2

150.0

Canada

30,313

32,656

29,535

-7.2

2.6

123,391

122,296

0.9

Bankruptcies

13,549

14,794

13,930

-8.4

-2.7

55,468

59,192

-6.3

Proposals

16,764

17,862

15,605

-6.1

7.4

67,923

63,104

7.6

Table 3: Insolvencies Filed by Businesses

Volume

% Change

12-Month Period Ending

Q3 2018

Q2 2018

Q3 2017

Q2 2018
to
Q3 2018

Q3 2017
to
Q3 2018

09-30-2018

09-30-2017

% Change

Newfoundland and Labrador

7

3

7

133.3

0.0

24

36

-33.3

Bankruptcies

6

3

6

100.0

0.0

18

27

-33.3

Proposals

1

0

1

n/a

0.0

6

9

-33.3

Prince Edward Island

2

1

2

100.0

0.0

4

13

-69.2

Bankruptcies

1

1

2

0.0

-50.0

3

10

-70.0

Proposals

1

0

0

n/a

n/a

1

3

-66.7

Nova Scotia

16

7

17

128.6

-5.9

49

57

-14.0

Bankruptcies

9

5

14

80.0

-35.7

34

48

-29.2

Proposals

7

2

3

250.0

133.3

15

9

66.7

New Brunswick

8

15

6

-46.7

33.3

48

50

-4.0

Bankruptcies

5

15

6

-66.7

-16.7

36

43

-16.3

Proposals

3

0

0

n/a

n/a

12

7

71.4

Quebec

475

513

440

-7.4

8.0

2,077

2,056

1.0

Bankruptcies

360

373

328

-3.5

9.8

1,556

1,562

-0.4

Proposals

115

140

112

-17.9

2.7

521

494

5.5

Ontario

215

234

215

-8.1

0.0

913

874

4.5

Bankruptcies

154

177

157

-13.0

-1.9

671

635

5.7

Proposals

61

57

58

7.0

5.2

242

239

1.3

Manitoba

9

6

7

50.0

28.6

33

43

-23.3

Bankruptcies

8

5

4

60.0

100.0

29

32

-9.4

Proposals

1

1

3

0.0

-66.7

4

11

-63.6

Saskatchewan

21

23

22

-8.7

-4.5

114

121

-5.8

Bankruptcies

10

16

18

-37.5

-44.4

77

90

-14.4

Proposals

11

7

4

57.1

175.0

37

31

19.4

Alberta

52

51

48

2.0

8.3

202

206

-1.9

Bankruptcies

40

41

28

-2.4

42.9

147

140

5.0

Proposals

12

10

20

20.0

-40.0

55

66

-16.7

British Columbia

21

25

26

-16.0

-19.2

107

159

-32.7

Bankruptcies

16

20

22

-20.0

-27.3

78

131

-40.5

Proposals

5

5

4

0.0

25.0

29

28

3.6

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

826

878

790

-5.9

4.6

3,571

3,616

-1.2

Bankruptcies

609

656

585

-7.2

4.1

2,649

2,719

-2.6

Proposals

217

222

205

-2.3

5.9

922

897

2.8

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