Insolvency Statistics in Canada—Second 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
Q2 2019 Q1 2019 Q2 2018 Q1 2019
to
Q2 2019
Q2 2018
to
Q2 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 919 772 745 19.0 23.4 3,077 2,697 14.1
Bankruptcies 438 326 379 34.4 15.6 1,466 1,364 7.5
Proposals 481 446 366 7.8 31.4 1,611 1,333 20.9
Prince Edward Island 207 171 189 21.1 9.5 732 719 1.8
Bankruptcies 105 92 120 14.1 -12.5 393 423 -7.1
Proposals 102 79 69 29.1 47.8 339 296 14.5
Nova Scotia 1,625 1,395 1,555 16.5 4.5 5,792 5,698 1.6
Bankruptcies 906 787 979 15.1 -7.5 3,431 3,625 -5.4
Proposals 719 608 576 18.3 24.8 2,361 2,073 13.9
New Brunswick 1,321 1,099 1,186 20.2 11.4 4,804 4,363 10.1
Bankruptcies 652 529 621 23.3 5.0 2,396 2,293 4.5
Proposals 669 570 565 17.4 18.4 2,408 2,070 16.3
Quebec 11,290 11,171 11,109 1.1 1.6 43,882 43,582 0.7
Bankruptcies 5,555 5,279 5,930 5.2 -6.3 22,007 23,291 -5.5
Proposals 5,735 5,892 5,179 -2.7 10.7 21,875 20,291 7.8
Ontario 11,825 10,410 10,435 13.6 13.3 42,086 38,819 8.4
Bankruptcies 4,147 3,440 4,202 20.6 -1.3 15,095 15,504 -2.6
Proposals 7,678 6,970 6,233 10.2 23.2 26,991 23,315 15.8
Manitoba 833 716 793 16.3 5.0 3,028 2,730 10.9
Bankruptcies 410 302 406 35.8 1.0 1,427 1,423 0.3
Proposals 423 414 387 2.2 9.3 1,601 1,307 22.5
Saskatchewan 840 860 871 -2.3 -3.6 3,528 3,311 6.6
Bankruptcies 321 334 326 -3.9 -1.5 1,365 1,344 1.6
Proposals 519 526 545 -1.3 -4.8 2,163 1,967 10.0
Alberta 4,284 3,996 3,884 7.2 10.3 15,694 14,012 12.0
Bankruptcies 1,469 1,429 1,343 2.8 9.4 5,415 5,018 7.9
Proposals 2,815 2,567 2,541 9.7 10.8 10,279 8,994 14.3
British Columbia 2,881 2,594 2,731 11.1 5.5 10,525 10,068 4.5
Bankruptcies 1,068 1,006 1,125 6.2 -5.1 4,032 4,108 -1.9
Proposals 1,813 1,588 1,606 14.2 12.9 6,493 5,960 8.9
Northwest Territories 15 17 25 -11.8 -40.0 61 103 -40.8
Bankruptcies 0 3 15 -100.0 -100.0 21 63 -66.7
Proposals 15 14 10 7.1 50.0 40 40 0.0
Yukon 10 6 9 66.7 11.1 32 40 -20.0
Bankruptcies 3 2 4 50.0 -25.0 10 16 -37.5
Proposals 7 4 5 75.0 40.0 22 24 -8.3
Nunavut 0 4 2 -100.0 -100.0 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 4 2 -100.0 -100.0 5 4 25.0
Canada 36,050 33,211 33,534 8.5 7.5 133,246 126,148 5.6
Bankruptcies 15,074 13,529 15,450 11.4 -2.4 57,058 58,474 -2.4
Proposals 20,976 19,682 18,084 6.6 16.0 76,188 67,674 12.6
Table 2: Insolvencies Filed by Consumers
province Volume % Change 12-Month Period Ending
Q2 2019 Q1 2019 Q2 2018 Q1 2019
to
Q2 2019
Q2 2018
to
Q2 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 908 762 742 19.2 22.4 3,039 2,673 13.7
Bankruptcies 427 316 376 35.1 13.6 1,432 1,346 6.4
Proposals 481 446 366 7.8 31.4 1,607 1,327 21.1
Prince Edward Island 202 171 188 18.1 7.4 725 715 1.4
Bankruptcies 100 92 119 8.7 -16.0 387 419 -7.6
Proposals 102 79 69 29.1 47.8 338 296 14.2
Nova Scotia 1,604 1,383 1,548 16.0 3.6 5,735 5,648 1.5
Bankruptcies 888 776 974 14.4 -8.8 3,386 3,586 -5.6
Proposals 716 607 574 18.0 24.7 2,349 2,062 13.9
New Brunswick 1,308 1,086 1,171 20.4 11.7 4,761 4,317 10.3
Bankruptcies 640 520 606 23.1 5.6 2,363 2,256 4.7
Proposals 668 566 565 18.0 18.2 2,398 2,061 16.4
Quebec 10,727 10,597 10,596 1.2 1.2 41,721 41,540 0.4
Bankruptcies 5,135 4,816 5,557 6.6 -7.6 20,340 21,767 -6.6
Proposals 5,592 5,781 5,039 -3.3 11.0 21,381 19,773 8.1
Ontario 11,579 10,171 10,201 13.8 13.5 41,133 37,906 8.5
Bankruptcies 3,963 3,264 4,025 21.4 -1.5 14,404 14,830 -2.9
Proposals 7,616 6,907 6,176 10.3 23.3 26,729 23,076 15.8
Manitoba 819 709 787 15.5 4.1 2,993 2,699 10.9
Bankruptcies 399 295 401 35.3 -0.5 1,396 1,398 -0.1
Proposals 420 414 386 1.4 8.8 1,597 1,301 22.8
Saskatchewan 818 837 848 -2.3 -3.5 3,434 3,196 7.4
Bankruptcies 311 322 310 -3.4 0.3 1,315 1,259 4.4
Proposals 507 515 538 -1.6 -5.8 2,119 1,937 9.4
Alberta 4,240 3,934 3,833 7.8 10.6 15,480 13,814 12.1
Bankruptcies 1,439 1,385 1,302 3.9 10.5 5,251 4,883 7.5
Proposals 2,801 2,549 2,531 9.9 10.7 10,229 8,931 14.5
British Columbia 2,846 2,562 2,706 11.1 5.2 10,409 9,956 4.6
Bankruptcies 1,043 985 1,105 5.9 -5.6 3,953 4,024 -1.8
Proposals 1,803 1,577 1,601 14.3 12.6 6,456 5,932 8.8
Northwest Territories 15 17 25 -11.8 -40.0 61 103 -40.8
Bankruptcies 0 3 15 -100.0 -100.0 21 63 -66.7
Proposals 15 14 10 7.1 50.0 40 40 0.0
Yukon 10 6 9 66.7 11.1 32 40 -20.0
Bankruptcies 3 2 4 50.0 -25.0 10 16 -37.5
Proposals 7 4 5 75.0 40.0 22 24 -8.3
Nunavut 0 4 2 -100.0 -100.0 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 4 2 -100.0 -100.0 5 4 25.0
Canada 35,076 32,239 32,656 8.8 7.4 129,528 122,613 5.6
Bankruptcies 14,348 12,776 14,794 12.3 -3.0 54,258 55,849 -2.8
Proposals 20,728 19,463 17,862 6.5 16.0 75,270 66,764 12.7
Table 3: Insolvencies Filed by Businesses
province Volume % Change 12-Month Period Ending
Q2 2019 Q1 2019 Q2 2018 Q1 2019
to
Q2 2019
Q2 2018
to
Q2 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 11 10 3 10.0 266.7 38 24 58.3
Bankruptcies 11 10 3 10.0 266.7 34 18 88.9
Proposals 0 0 0 n/a n/a 4 6 -33.3
Prince Edward Island 5 0 1 n/a 400.0 7 4 75.0
Bankruptcies 5 0 1 n/a 400.0 6 4 50.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 21 12 7 75.0 200.0 57 50 14.0
Bankruptcies 18 11 5 63.6 260.0 45 39 15.4
Proposals 3 1 2 200.0 50.0 12 11 9.1
New Brunswick 13 13 15 0.0 -13.3 43 46 -6.5
Bankruptcies 12 9 15 33.3 -20.0 33 37 -10.8
Proposals 1 4 0 -75.0 n/a 10 9 11.1
Quebec 563 574 513 -1.9 9.7 2,161 2,042 5.8
Bankruptcies 420 463 373 -9.3 12.6 1,667 1,524 9.4
Proposals 143 111 140 28.8 2.1 494 518 -4.6
Ontario 246 239 234 2.9 5.1 953 913 4.4
Bankruptcies 184 176 177 4.5 4.0 691 674 2.5
Proposals 62 63 57 -1.6 8.8 262 239 9.6
Manitoba 14 7 6 100.0 133.3 35 31 12.9
Bankruptcies 11 7 5 57.1 120.0 31 25 24.0
Proposals 3 0 1 n/a 200.0 4 6 -33.3
Saskatchewan 22 23 23 -4.3 -4.3 94 115 -18.3
Bankruptcies 10 12 16 -16.7 -37.5 50 85 -41.2
Proposals 12 11 7 9.1 71.4 44 30 46.7
Alberta 44 62 51 -29.0 -13.7 214 198 8.1
Bankruptcies 30 44 41 -31.8 -26.8 164 135 21.5
Proposals 14 18 10 -22.2 40.0 50 63 -20.6
British Columbia 35 32 25 9.4 40.0 116 112 3.6
Bankruptcies 25 21 20 19.0 25.0 79 84 -6.0
Proposals 10 11 5 -9.1 100.0 37 28 32.1
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 974 972 878 0.2 10.9 3,718 3,535 5.2
Bankruptcies 726 753 656 -3.6 10.7 2,800 2,625 6.7
Proposals 248 219 222 13.2 11.7 918 910 0.9
Table 3a: Insolvencies Filed by Corporations
province Volume % Change 12-Month Period Ending
Q2 2019 Q1 2019 Q2 2018 Q1 2019
to
Q2 2019
Q2 2018
to
Q2 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 1 3 0 -66.7 n/a 14 13 7.7
Bankruptcies 1 3 0 -66.7 n/a 10 8 25.0
Proposals 0 0 0 n/a n/a 4 5 -20.0
Prince Edward Island 2 0 1 n/a -100.0 2 1 100.0
Bankruptcies 2 0 1 n/a -100.0 2 1 100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 11 6 3 83.3 100.0 30 19 57.9
Bankruptcies 9 5 2 80.0 150.0 24 13 84.6
Proposals 2 1 1 100.0 0.0 6 6 0.0
New Brunswick 9 6 5 50.0 20.0 26 27 -3.7
Bankruptcies 8 6 5 33.3 20.0 23 19 21.1
Proposals 1 0 0 n/a n/a 3 8 -62.5
Quebec 503 502 447 0.2 12.3 1,890 1,804 4.8
Bankruptcies 387 413 328 -6.3 25.9 1,487 1,358 9.5
Proposals 116 89 119 30.3 -25.2 403 446 -9.6
Ontario 138 140 135 -1.4 3.7 560 480 16.7
Bankruptcies 109 104 105 4.8 -1.0 417 367 13.6
Proposals 29 36 30 -19.4 20.0 143 113 26.5
Manitoba 5 0 1 n/a -100.0 8 7 14.3
Bankruptcies 4 0 0 n/a n/a 7 4 75.0
Proposals 1 0 1 n/a -100.0 1 3 -66.7
Saskatchewan 1 1 3 0.0 -66.7 4 11 -63.6
Bankruptcies 0 1 2 -100.0 -50.0 2 7 -71.4
Proposals 1 0 1 n/a -100.0 2 4 -50.0
Alberta 18 27 24 -33.3 12.5 93 112 -17.0
Bankruptcies 12 17 17 -29.4 0.0 72 67 7.5
Proposals 6 10 7 -40.0 42.9 21 45 -53.3
British Columbia 14 17 9 -17.6 88.9 50 46 8.7
Bankruptcies 9 9 8 0.0 12.5 28 29 -3.4
Proposals 5 8 1 -37.5 700.0 22 17 29.4
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 702 702 628 0.0 11.8 2,677 2,520 6.2
Bankruptcies 541 558 468 -3.0 19.2 2,072 1,873 10.6
Proposals 161 144 160 11.8 -10.0 605 647 -6.5
Table 3b: Insolvencies Filed by Individual Businesses
province Volume % Change 12-Month Period Ending
Q2 2019 Q1 2019 Q2 2018 Q1 2019
to
Q2 2019
Q2 2018
to
Q2 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 10 7 3 42.9 133.3 24 11 118.2
Bankruptcies 10 7 3 42.9 133.3 24 10 140.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 3 0 0 n/a n/a 5 3 66.7
Bankruptcies 3 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 10 6 4 66.7 50.0 27 31 -12.9
Bankruptcies 9 6 3 50.0 100.0 21 26 -19.2
Proposals 1 0 1 n/a -100.0 6 5 20.0
New Brunswick 4 7 10 -42.9 -30.0 17 19 -10.5
Bankruptcies 4 3 10 33.3 -70.0 10 18 -44.4
Proposals 0 4 0 -100.0 n/a 7 1 600.0
Quebec 60 72 66 -16.7 9.1 271 238 13.9
Bankruptcies 33 50 45 -34.0 11.1 180 166 8.4
Proposals 27 22 21 22.7 4.8 91 72 26.4
Ontario 108 99 99 9.1 0.0 393 433 -9.2
Bankruptcies 75 72 72 4.2 0.0 274 307 -10.7
Proposals 33 27 27 22.2 0.0 119 126 -5.6
Manitoba 9 7 5 28.6 40.0 27 24 12.5
Bankruptcies 7 7 5 0.0 40.0 24 21 14.3
Proposals 2 0 0 n/a n/a 3 3 0.0
Saskatchewan 21 22 20 -4.5 10.0 90 104 -13.5
Bankruptcies 10 11 14 -9.1 -21.4 48 78 -38.5
Proposals 11 11 6 0.0 83.3 42 26 61.5
Alberta 26 35 27 -25.7 29.6 121 86 40.7
Bankruptcies 18 27 24 -33.3 12.5 92 68 35.3
Proposals 8 8 3 0.0 166.7 29 18 61.1
British Columbia 21 15 16 40.0 -6.3 66 66 0.0
Bankruptcies 16 12 12 33.3 0.0 51 55 -7.3
Proposals 5 3 4 66.7 -25.0 15 11 36.4
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 272 270 250 0.7 8.0 1,041 1,015 2.6
Bankruptcies 185 195 188 -5.1 3.7 728 752 -3.2
Proposals 87 75 62 16.0 21.0 313 263 19.0
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