Insolvency Statistics in Canada—Fourth 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
province Volume % Change 12-Month Period Ending
Q4 2018 Q3 2018 Q4 2017 Q3 2018
to
Q4 2018
Q4 2017
to
Q4 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 707 679 658 4.1 7.4 2,826 2,515 12.4
Bankruptcies 343 359 356 -4.5 -3.7 1,396 1,390 0.4
Proposals 364 320 302 13.8 20.5 1,430 1,125 27.1
Prince Edward Island 189 165 169 14.5 11.8 735 685 7.3
Bankruptcies 103 93 90 10.8 14.4 429 397 8.1
Proposals 86 72 79 19.4 8.9 306 288 6.3
Nova Scotia 1,393 1,379 1,332 1.0 4.6 5,642 5,773 -2.3
Bankruptcies 852 886 853 -3.8 -0.1 3,516 3,850 -8.7
Proposals 541 493 479 9.7 12.9 2,126 1,923 10.6
New Brunswick 1,185 1,199 1,104 -1.2 7.3 4,517 4,418 2.2
Bankruptcies 599 616 582 -2.8 2.9 2,294 2,500 -8.2
Proposals 586 583 522 0.5 12.3 2,223 1,918 15.9
Quebec 10,948 10,473 10,861 4.5 0.8 43,831 43,731 0.2
Bankruptcies 5,650 5,523 5,874 2.3 -3.8 22,767 24,210 -6.0
Proposals 5,298 4,950 4,987 7.0 6.2 21,064 19,521 7.9
Ontario 10,229 9,622 9,480 6.3 7.9 39,793 39,045 1.9
Bankruptcies 3,764 3,744 3,881 0.5 -3.0 15,348 15,968 -3.9
Proposals 6,465 5,878 5,599 10.0 15.5 24,445 23,077 5.9
Manitoba 794 685 713 15.9 11.4 2,852 2,643 7.9
Bankruptcies 382 333 403 14.7 -5.2 1,390 1,408 -1.3
Proposals 412 352 310 17.0 32.9 1,462 1,235 18.4
Saskatchewan 901 927 818 -2.8 10.1 3,498 3,258 7.4
Bankruptcies 346 364 383 -4.9 -9.7 1,339 1,472 -9.0
Proposals 555 563 435 -1.4 27.6 2,159 1,786 20.9
Alberta 3,848 3,566 3,334 7.9 15.4 14,761 13,481 9.5
Bankruptcies 1,279 1,238 1,238 3.3 3.3 5,087 5,139 -1.0
Proposals 2,569 2,328 2,096 10.4 22.6 9,674 8,342 16.0
British Columbia 2,629 2,421 2,446 8.6 7.5 10,275 10,136 1.4
Bankruptcies 966 992 958 -2.6 0.8 4,147 4,263 -2.7
Proposals 1,663 1,429 1,488 16.4 11.8 6,128 5,873 4.3
Northwest Territories 11 18 30 -38.9 -63.3 78 81 -3.7
Bankruptcies 8 10 21 -20.0 -61.9 42 52 -19.2
Proposals 3 8 9 -62.5 -66.7 36 29 24.1
Yukon 12 4 13 200.0 -7.7 35 37 -5.4
Bankruptcies 5 0 5 n/a 0.0 13 18 -27.8
Proposals 7 4 8 75.0 -12.5 22 19 15.8
Nunavut 0 1 4 -100.0 -100.0 3 4 -25.0
Bankruptcies 0 0 2 n/a -100.0 0 2 -100.0
Proposals 0 1 2 -100.0 -100.0 3 2 50.0
Canada 32,846 31,139 30,962 5.5 6.1 128,846 125,807 2.4
Bankruptcies 14,297 14,158 14,646 1.0 -2.4 57,768 60,669 -4.8
Proposals 18,549 16,981 16,316 9.2 13.7 71,078 65,138 9.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q4 2018 Q3 2018 Q4 2017 Q3 2018
to
Q4 2018
Q4 2017
to
Q4 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 697 672 648 3.7 7.6 2,802 2,479 13.0
Bankruptcies 336 353 351 -4.8 -4.3 1,376 1,367 0.7
Proposals 361 319 297 13.2 21.5 1,426 1,112 28.2
Prince Edward Island 189 163 169 16.0 11.8 731 673 8.6
Bankruptcies 103 92 90 12.0 14.4 426 387 10.1
Proposals 86 71 79 21.1 8.9 305 286 6.6
Nova Scotia 1,385 1,363 1,322 1.6 4.8 5,595 5,724 -2.3
Bankruptcies 845 877 845 -3.6 0.0 3,483 3,807 -8.5
Proposals 540 486 477 11.1 13.2 2,112 1,917 10.2
New Brunswick 1,176 1,191 1,084 -1.3 8.5 4,480 4,361 2.7
Bankruptcies 592 611 571 -3.1 3.7 2,262 2,457 -7.9
Proposals 584 580 513 0.7 13.8 2,218 1,904 16.5
Quebec 10,399 9,998 10,330 4.0 0.7 41,736 41,670 0.2
Bankruptcies 5,226 5,163 5,473 1.2 -4.5 21,188 22,647 -6.4
Proposals 5,173 4,835 4,857 7.0 6.5 20,548 19,023 8.0
Ontario 9,976 9,407 9,251 6.0 7.8 38,856 38,167 1.8
Bankruptcies 3,587 3,590 3,721 -0.1 -3.6 14,660 15,336 -4.4
Proposals 6,389 5,817 5,530 9.8 15.5 24,196 22,831 6.0
Manitoba 789 676 703 16.7 12.2 2,824 2,604 8.4
Bankruptcies 377 325 395 16.0 -4.6 1,364 1,375 -0.8
Proposals 412 351 308 17.4 33.8 1,460 1,229 18.8
Saskatchewan 873 906 775 -3.6 12.6 3,399 3,122 8.9
Bankruptcies 328 354 347 -7.3 -5.5 1,280 1,368 -6.4
Proposals 545 552 428 -1.3 27.3 2,119 1,754 20.8
Alberta 3,792 3,514 3,282 7.9 15.5 14,555 13,286 9.6
Bankruptcies 1,229 1,198 1,203 2.6 2.2 4,925 5,008 -1.7
Proposals 2,563 2,316 2,079 10.7 23.3 9,630 8,278 16.3
British Columbia 2,601 2,400 2,414 8.4 7.7 10,172 9,991 1.8
Bankruptcies 949 976 938 -2.8 1.2 4,072 4,146 -1.8
Proposals 1,652 1,424 1,476 16.0 11.9 6,100 5,845 4.4
Northwest Territories 11 18 30 -38.9 -63.3 78 80 -2.5
Bankruptcies 8 10 21 -20.0 -61.9 42 51 -17.6
Proposals 3 8 9 -62.5 -66.7 36 29 24.1
Yukon 12 4 13 200.0 -7.7 35 37 -5.4
Bankruptcies 5 0 5 n/a 0.0 13 18 -27.8
Proposals 7 4 8 75.0 -12.5 22 19 15.8
Nunavut 0 1 4 -100.0 -100.0 3 4 -25.0
Bankruptcies 0 0 2 n/a -100.0 0 2 -100.0
Proposals 0 1 2 -100.0 -100.0 3 2 50.0
Canada 31,900 30,313 30,025 5.2 6.2 125,266 122,198 2.5
Bankruptcies 13,585 13,549 13,962 0.3 -2.7 55,091 57,969 -5.0
Proposals 18,315 16,764 16,063 9.3 14.0 70,175 64,229 9.3
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q4 2018 Q3 2018 Q4 2017 Q3 2018
to
Q4 2018
Q4 2017
to
Q4 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 10 7 10 42.9 0.0 24 36 -33.3
Bankruptcies 7 6 5 16.7 40.0 20 23 -13.0
Proposals 3 1 5 200.0 -40.0 4 13 -69.2
Prince Edward Island 0 2 0 -100.0 n/a 4 12 -66.7
Bankruptcies 0 1 0 -100.0 n/a 3 10 -70.0
Proposals 0 1 0 -100.0 n/a 1 2 -50.0
Nova Scotia 8 16 10 -50.0 -20.0 47 49 -4.1
Bankruptcies 7 9 8 -22.2 -12.5 33 43 -23.3
Proposals 1 7 2 -85.7 -50.0 14 6 133.3
New Brunswick 9 8 20 12.5 -55.0 37 57 -35.1
Bankruptcies 7 5 11 40.0 -36.4 32 43 -25.6
Proposals 2 3 9 -33.3 -77.8 5 14 -64.3
Quebec 549 475 531 15.6 3.4 2,095 2,061 1.6
Bankruptcies 424 360 401 17.8 5.7 1,579 1,563 1.0
Proposals 125 115 130 8.7 -3.8 516 498 3.6
Ontario 253 215 229 17.7 10.5 937 878 6.7
Bankruptcies 177 154 160 14.9 10.6 688 632 8.9
Proposals 76 61 69 24.6 10.1 249 246 1.2
Manitoba 5 9 10 -44.4 -50.0 28 39 -28.2
Bankruptcies 5 8 8 -37.5 -37.5 26 33 -21.2
Proposals 0 1 2 -100.0 -100.0 2 6 -66.7
Saskatchewan 28 21 43 33.3 -34.9 99 136 -27.2
Bankruptcies 18 10 36 80.0 -50.0 59 104 -43.3
Proposals 10 11 7 -9.1 42.9 40 32 25.0
Alberta 56 52 52 7.7 7.7 206 195 5.6
Bankruptcies 50 40 35 25.0 42.9 162 131 23.7
Proposals 6 12 17 -50.0 -64.7 44 64 -31.3
British Columbia 28 21 32 33.3 -12.5 103 145 -29.0
Bankruptcies 17 16 20 6.3 -15.0 75 117 -35.9
Proposals 11 5 12 120.0 -8.3 28 28 0.0
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 946 826 937 14.5 1.0 3,580 3,609 -0.8
Bankruptcies 712 609 684 16.9 4.1 2,677 2,700 -0.9
Proposals 234 217 253 7.8 -7.5 903 909 -0.7
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