Insolvency Statistics in Canada—First Quarter of 2019

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.

Corporation: A commercial entity or organization.

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).

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.

Table 1: Total Insolvencies
province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 772 707 695 9.2 11.1 2,903 2,607 11.4
Bankruptcies 326 343 315 -5.0 3.5 1,407 1,366 3.0
Proposals 446 364 380 22.5 17.4 1,496 1,241 20.5
Prince Edward Island 171 189 192 -9.5 -10.9 714 697 2.4
Bankruptcies 92 103 113 -10.7 -18.6 408 416 -1.9
Proposals 79 86 79 -8.1 0.0 306 281 8.9
Nova Scotia 1,395 1,393 1,315 0.1 6.1 5,722 5,709 0.2
Bankruptcies 787 852 799 -7.6 -1.5 3,504 3,750 -6.6
Proposals 608 541 516 12.4 17.8 2,218 1,959 13.2
New Brunswick 1,099 1,185 947 -7.3 16.1 4,669 4,374 6.7
Bankruptcies 529 599 458 -11.7 15.5 2,365 2,396 -1.3
Proposals 570 586 489 -2.7 16.6 2,304 1,978 16.5
Quebec 11,171 10,948 11,301 2.0 -1.2 43,701 43,895 -0.4
Bankruptcies 5,279 5,650 5,664 -6.6 -6.8 22,382 23,858 -6.2
Proposals 5,892 5,298 5,637 11.2 4.5 21,319 20,037 6.4
Ontario 10,410 10,229 9,507 1.8 9.5 40,696 38,684 5.2
Bankruptcies 3,440 3,764 3,638 -8.6 -5.4 15,150 15,678 -3.4
Proposals 6,970 6,465 5,869 7.8 18.8 25,546 23,006 11.0
Manitoba 716 794 580 -9.8 23.4 2,988 2,574 16.1
Bankruptcies 302 382 269 -20.9 12.3 1,423 1,363 4.4
Proposals 414 412 311 0.5 33.1 1,565 1,211 29.2
Saskatchewan 860 901 799 -4.6 7.6 3,559 3,293 8.1
Bankruptcies 334 346 303 -3.5 10.2 1,370 1,437 -4.7
Proposals 526 555 496 -5.2 6.0 2,189 1,856 17.9
Alberta 3,996 3,848 3,463 3.8 15.4 15,294 13,554 12.8
Bankruptcies 1,429 1,279 1,227 11.7 16.5 5,289 5,018 5.4
Proposals 2,567 2,569 2,236 -0.1 14.8 10,005 8,536 17.2
British Columbia 2,594 2,629 2,494 -1.3 4.0 10,375 9,997 3.8
Bankruptcies 1,006 966 1,064 4.1 -5.5 4,089 4,173 -2.0
Proposals 1,588 1,663 1,430 -4.5 11.0 6,286 5,824 7.9
Northwest Territories 17 11 24 54.5 -29.2 71 94 -24.5
Bankruptcies 3 8 9 -62.5 -66.7 36 58 -37.9
Proposals 14 3 15 366.7 -6.7 35 36 -2.8
Yukon 6 12 10 -50.0 -40.0 31 39 -20.5
Bankruptcies 2 5 4 -60.0 -50.0 11 19 -42.1
Proposals 4 7 6 -42.9 -33.3 20 20 0.0
Nunavut 4 0 0 n/a n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 4 0 0 n/a n/a 7 2 250.0
Canada 33,211 32,846 31,327 1.1 6.0 130,730 125,521 4.1
Bankruptcies 13,529 14,297 13,863 -5.4 -2.4 57,434 59,534 -3.5
Proposals 19,682 18,549 17,464 6.1 12.7 73,296 65,987 11.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 762 697 691 9.3 10.3 2,873 2,577 11.5
Bankruptcies 316 336 311 -6.0 1.6 1,381 1,343 2.8
Proposals 446 361 380 23.5 17.4 1,492 1,234 20.9
Prince Edward Island 171 189 191 -9.5 -10.5 711 690 3.0
Bankruptcies 92 103 112 -10.7 -17.9 406 411 -1.2
Proposals 79 86 79 -8.1 0.0 305 279 9.3
Nova Scotia 1,383 1,385 1,299 -0.1 6.5 5,679 5,653 0.5
Bankruptcies 776 845 787 -8.2 -1.4 3,472 3,704 -6.3
Proposals 607 540 512 12.4 18.6 2,207 1,949 13.2
New Brunswick 1,086 1,176 942 -7.7 15.3 4,624 4,320 7.0
Bankruptcies 520 592 453 -12.2 14.8 2,329 2,356 -1.1
Proposals 566 584 489 -3.1 15.7 2,295 1,964 16.9
Quebec 10,597 10,399 10,743 1.9 -1.4 41,590 41,821 -0.6
Bankruptcies 4,816 5,226 5,242 -7.8 -8.1 20,762 22,270 -6.8
Proposals 5,781 5,173 5,501 11.8 5.1 20,828 19,551 6.5
Ontario 10,171 9,976 9,272 2.0 9.7 39,755 37,795 5.2
Bankruptcies 3,264 3,587 3,458 -9.0 -5.6 14,466 15,023 -3.7
Proposals 6,907 6,389 5,814 8.1 18.8 25,289 22,772 11.1
Manitoba 709 789 572 -10.1 24.0 2,961 2,539 16.6
Bankruptcies 295 377 261 -21.8 13.0 1,398 1,334 4.8
Proposals 414 412 311 0.5 33.1 1,563 1,205 29.7
Saskatchewan 837 873 772 -4.1 8.4 3,464 3,160 9.6
Bankruptcies 322 328 288 -1.8 11.8 1,314 1,336 -1.6
Proposals 515 545 484 -5.5 6.4 2,150 1,824 17.9
Alberta 3,934 3,792 3,416 3.7 15.2 15,073 13,347 12.9
Bankruptcies 1,385 1,229 1,196 12.7 15.8 5,114 4,883 4.7
Proposals 2,549 2,563 2,220 -0.5 14.8 9,959 8,464 17.7
British Columbia 2,562 2,601 2,465 -1.5 3.9 10,269 9,873 4.0
Bankruptcies 985 949 1,042 3.8 -5.5 4,015 4,078 -1.5
Proposals 1,577 1,652 1,423 -4.5 10.8 6,254 5,795 7.9
Northwest Territories 17 11 24 54.5 -29.2 71 93 -23.7
Bankruptcies 3 8 9 -62.5 -66.7 36 57 -36.8
Proposals 14 3 15 366.7 -6.7 35 36 -2.8
Yukon 6 12 10 -50.0 -40.0 31 39 -20.5
Bankruptcies 2 5 4 -60.0 -50.0 11 19 -42.1
Proposals 4 7 6 -42.9 -33.3 20 20 0.0
Nunavut 4 0 0 n/a n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 4 0 0 n/a n/a 7 2 250.0
Canada 32,239 31,900 30,397 1.1 6.1 127,108 121,911 4.3
Bankruptcies 12,776 13,585 13,163 -6.0 -2.9 54,704 56,816 -3.7
Proposals 19,463 18,315 17,234 6.3 12.9 72,404 65,095 11.2
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 10 10 4 0.0 150.0 30 30 0.0
Bankruptcies 10 7 4 42.9 150.0 26 23 13.0
Proposals 0 3 0 -100.0 n/a 4 7 -42.9
Prince Edward Island 0 0 1 n/a -100.0 3 7 -57.1
Bankruptcies 0 0 1 n/a -100.0 2 5 -60.0
Proposals 0 0 0 n/a n/a 1 2 -50.0
Nova Scotia 12 8 16 50.0 -25.0 43 56 -23.2
Bankruptcies 11 7 12 57.1 -8.3 32 46 -30.4
Proposals 1 1 4 0.0 -75.0 11 10 10.0
New Brunswick 13 9 5 44.4 160.0 45 54 -16.7
Bankruptcies 9 7 5 28.6 80.0 36 40 -10.0
Proposals 4 2 0 100.0 n/a 9 14 -35.7
Quebec 574 549 558 4.6 2.9 2,111 2,074 1.8
Bankruptcies 463 424 422 9.2 9.7 1,620 1,588 2.0
Proposals 111 125 136 -11.2 -18.4 491 486 1.0
Ontario 239 253 235 -5.5 1.7 941 889 5.8
Bankruptcies 176 177 180 -0.6 -2.2 684 655 4.4
Proposals 63 76 55 -17.1 14.5 257 234 9.8
Manitoba 7 5 8 40.0 -12.5 27 35 -22.9
Bankruptcies 7 5 8 40.0 -12.5 25 29 -13.8
Proposals 0 0 0 n/a n/a 2 6 -66.7
Saskatchewan 23 28 27 -17.9 -14.8 95 133 -28.6
Bankruptcies 12 18 15 -33.3 -20.0 56 101 -44.6
Proposals 11 10 12 10.0 -8.3 39 32 21.9
Alberta 62 56 47 10.7 31.9 221 207 6.8
Bankruptcies 44 50 31 -12.0 41.9 175 135 29.6
Proposals 18 6 16 200.0 12.5 46 72 -36.1
British Columbia 32 28 29 14.3 10.3 106 124 -14.5
Bankruptcies 21 17 22 23.5 -4.5 74 95 -22.1
Proposals 11 11 7 0.0 57.1 32 29 10.3
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 972 946 930 2.7 4.5 3,622 3,610 0.3
Bankruptcies 753 712 700 5.8 7.6 2,730 2,718 0.4
Proposals 219 234 230 -6.4 -4.8 892 892 0.0
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 3 5 1 -40.0 400.0 13 16 -18.8
Bankruptcies 3 2 1 50.0 100.0 9 10 -10.0
Proposals 0 3 0 -100.0 n/a 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 1 3 -66.7
Bankruptcies 0 0 0 n/a n/a 1 1 0.0
Proposals 0 0 0 n/a n/a 0 2 -100.0
Nova Scotia 6 4 8 50.0 -50.0 22 20 10.0
Bankruptcies 5 4 6 25.0 -33.3 17 14 21.4
Proposals 1 0 2 n/a -100.0 5 6 -16.7
New Brunswick 6 6 4 0.0 50.0 22 34 -35.3
Bankruptcies 6 5 4 20.0 25.0 20 24 -16.7
Proposals 0 1 0 -100.0 n/a 2 10 -80.0
Quebec 502 466 499 7.7 -6.6 1,834 1,854 -1.1
Bankruptcies 413 367 386 12.5 -4.9 1,428 1,432 -0.3
Proposals 89 99 113 -10.1 -12.4 406 422 -3.8
Ontario 140 154 106 -9.1 45.3 557 456 22.1
Bankruptcies 104 109 88 -4.6 23.9 413 346 19.4
Proposals 36 45 18 -20.0 150.0 144 110 30.9
Manitoba 0 1 2 -100.0 -50.0 4 9 -55.6
Bankruptcies 0 1 2 -100.0 -50.0 3 7 -57.1
Proposals 0 0 0 n/a n/a 1 2 -50.0
Saskatchewan 1 1 3 0.0 -66.7 6 11 -45.5
Bankruptcies 1 1 1 0.0 0.0 4 7 -42.9
Proposals 0 0 2 n/a -100.0 2 4 -50.0
Alberta 27 24 27 12.5 -11.1 99 127 -22.0
Bankruptcies 17 22 17 -22.7 29.4 77 75 2.7
Proposals 10 2 10 400.0 -80.0 22 52 -57.7
British Columbia 17 14 9 21.4 55.6 45 60 -25.0
Bankruptcies 9 7 6 28.6 16.7 27 39 -30.8
Proposals 8 7 3 14.3 133.3 18 21 -14.3
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 702 675 659 4.0 2.4 2,603 2,591 0.5
Bankruptcies 558 518 511 7.7 1.4 1,999 1,956 2.2
Proposals 144 157 148 -8.3 6.1 604 635 -4.9
 
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 7 5 3 40.0 66.7 17 14 21.4
Bankruptcies 7 5 3 40.0 66.7 17 13 30.8
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 0 0 1 n/a -100.0 2 4 -50.0
Bankruptcies 0 0 1 n/a -100.0 1 4 -75.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 6 4 8 50.0 -50.0 21 36 -41.7
Bankruptcies 6 3 6 100.0 -50.0 15 32 -53.1
Proposals 0 1 2 -100.0 -50.0 6 4 50.0
New Brunswick 7 3 1 133.3 200.0 23 20 15.0
Bankruptcies 3 2 1 50.0 100.0 16 16 0.0
Proposals 4 1 0 300.0 n/a 7 4 75.0
Quebec 72 83 59 -13.3 40.7 277 220 25.9
Bankruptcies 50 57 36 -12.3 58.3 192 156 23.1
Proposals 22 26 23 -15.4 13.0 85 64 32.8
Ontario 99 99 129 0.0 -23.3 384 433 -11.3
Bankruptcies 72 68 92 5.9 -26.1 271 309 -12.3
Proposals 27 31 37 -12.9 -16.2 113 124 -8.9
Manitoba 7 4 6 75.0 -33.3 23 26 -11.5
Bankruptcies 7 4 6 75.0 -33.3 22 22 0.0
Proposals 0 0 0 n/a n/a 1 4 -75.0
Saskatchewan 22 27 24 -18.5 12.5 89 122 -27.0
Bankruptcies 11 17 14 -35.3 21.4 52 94 -44.7
Proposals 11 10 10 10.0 0.0 37 28 32.1
Alberta 35 32 20 9.4 60.0 122 80 52.5
Bankruptcies 27 28 14 -3.6 100.0 98 60 63.3
Proposals 8 4 6 100.0 -33.3 24 20 20.0
British Columbia 15 14 20 7.1 -30.0 61 64 -4.7
Bankruptcies 12 10 16 20.0 -37.5 47 56 -16.1
Proposals 3 4 4 -25.0 0.0 14 8 75.0
Northwest Territories 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
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 270 271 271 -0.4 0.0 1,019 1,019 0.0
Bankruptcies 195 194 189 0.5 2.6 731 762 -4.1
Proposals 75 77 82 -2.6 -6.1 288 257 12.1
 
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