Insolvency Statistics in Canada—Third 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
Q3 2019 Q2 2019 Q3 2018 Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 803 919 679 -12.6 18.3 3,201 2,777 15.3
Bankruptcies 377 438 359 -13.9 5.0 1,484 1,409 5.3
Proposals 426 481 320 -11.4 33.1 1,717 1,368 25.5
Prince Edward Island 174 207 165 -15.9 5.5 741 715 3.6
Bankruptcies 92 105 93 -12.4 -1.1 392 416 -5.8
Proposals 82 102 72 -19.6 13.9 349 299 16.7
Nova Scotia 1,515 1,625 1,379 -6.8 9.9 5,928 5,581 6.2
Bankruptcies 791 906 886 -12.7 -10.7 3,336 3,517 -5.1
Proposals 724 719 493 0.7 46.9 2,592 2,064 25.6
New Brunswick 1,269 1,321 1,199 -3.9 5.8 4,874 4,436 9.9
Bankruptcies 623 652 616 -4.4 1.1 2,403 2,277 5.5
Proposals 646 669 583 -3.4 10.8 2,471 2,159 14.5
Quebec 11,146 11,290 10,473 -1.3 6.4 44,555 43,744 1.9
Bankruptcies 5,401 5,555 5,523 -2.8 -2.2 21,885 22,991 -4.8
Proposals 5,745 5,735 4,950 0.2 16.1 22,670 20,753 9.2
Ontario 11,726 11,825 9,622 -0.8 21.9 44,190 39,044 13.2
Bankruptcies 3,892 4,147 3,744 -6.1 4.0 15,243 15,465 -1.4
Proposals 7,834 7,678 5,878 2.0 33.3 28,947 23,579 22.8
Manitoba 790 833 685 -5.2 15.3 3,133 2,771 13.1
Bankruptcies 355 410 333 -13.4 6.6 1,449 1,411 2.7
Proposals 435 423 352 2.8 23.6 1,684 1,360 23.8
Saskatchewan 849 840 927 1.1 -8.4 3,450 3,415 1.0
Bankruptcies 301 321 364 -6.2 -17.3 1,302 1,376 -5.4
Proposals 548 519 563 5.6 -2.7 2,148 2,039 5.3
Alberta 4,275 4,284 3,566 -0.2 19.9 16,403 14,247 15.1
Bankruptcies 1,439 1,469 1,238 -2.0 16.2 5,616 5,046 11.3
Proposals 2,836 2,815 2,328 0.7 21.8 10,787 9,201 17.2
British Columbia 2,962 2,881 2,421 2.8 22.3 11,066 10,092 9.7
Bankruptcies 1,095 1,068 992 2.5 10.4 4,135 4,139 -0.1
Proposals 1,867 1,813 1,429 3.0 30.7 6,931 5,953 16.4
Northwest Territories 20 15 18 33.3 11.1 63 97 -35.1
Bankruptcies 5 0 10 n/a -50.0 16 55 -70.9
Proposals 15 15 8 0.0 87.5 47 42 11.9
Yukon 6 10 4 -40.0 50.0 34 36 -5.6
Bankruptcies 3 3 0 0.0 n/a 13 13 0.0
Proposals 3 7 4 -57.1 -25.0 21 23 -8.7
Nunavut 0 0 1 n/a -100.0 4 7 -42.9
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 4 5 -20.0
Canada 35,535 36,050 31,139 -1.4 14.1 137,642 126,962 8.4
Bankruptcies 14,374 15,074 14,158 -4.6 1.5 57,274 58,117 -1.5
Proposals 21,161 20,976 16,981 0.9 24.6 80,368 68,845 16.7
Table 2: Insolvencies Filed by Consumers
province Volume % Change 12-Month Period Ending
Q3 2019 Q2 2019 Q3 2018 Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 793 908 672 -12.7 18.0 3,160 2,753 14.8
Bankruptcies 368 427 353 -13.8 4.2 1,447 1,391 4.0
Proposals 425 481 319 -11.6 33.2 1,713 1,362 25.8
Prince Edward Island 172 202 163 -14.9 5.5 734 711 3.2
Bankruptcies 91 100 92 -9.0 -1.1 386 413 -6.5
Proposals 81 102 71 -20.6 14.1 348 298 16.8
Nova Scotia 1,503 1,604 1,363 -6.3 10.3 5,875 5,532 6.2
Bankruptcies 783 888 877 -11.8 -10.7 3,292 3,483 -5.5
Proposals 720 716 486 0.6 48.1 2,583 2,049 26.1
New Brunswick 1,255 1,308 1,191 -4.1 5.4 4,825 4,388 10.0
Bankruptcies 614 640 611 -4.1 0.5 2,366 2,241 5.6
Proposals 641 668 580 -4.0 10.5 2,459 2,147 14.5
Quebec 10,701 10,727 9,998 -0.2 7.0 42,424 41,667 1.8
Bankruptcies 5,061 5,135 5,163 -1.4 -2.0 20,238 21,435 -5.6
Proposals 5,640 5,592 4,835 0.9 16.6 22,186 20,232 9.7
Ontario 11,514 11,579 9,407 -0.6 22.4 43,240 38,131 13.4
Bankruptcies 3,738 3,963 3,590 -5.7 4.1 14,552 14,794 -1.6
Proposals 7,776 7,616 5,817 2.1 33.7 28,688 23,337 22.9
Manitoba 781 819 676 -4.6 15.5 3,098 2,738 13.1
Bankruptcies 347 399 325 -13.0 6.8 1,418 1,382 2.6
Proposals 434 420 351 3.3 23.6 1,680 1,356 23.9
Saskatchewan 825 818 906 0.9 -8.9 3,353 3,301 1.6
Bankruptcies 285 311 354 -8.4 -19.5 1,246 1,299 -4.1
Proposals 540 507 552 6.5 -2.2 2,107 2,002 5.2
Alberta 4,215 4,240 3,514 -0.6 19.9 16,181 14,045 15.2
Bankruptcies 1,396 1,439 1,198 -3.0 16.5 5,449 4,899 11.2
Proposals 2,819 2,801 2,316 0.6 21.7 10,732 9,146 17.3
British Columbia 2,925 2,846 2,400 2.8 21.9 10,934 9,985 9.5
Bankruptcies 1,067 1,043 976 2.3 9.3 4,044 4,061 -0.4
Proposals 1,858 1,803 1,424 3.1 30.5 6,890 5,924 16.3
Northwest Territories 18 15 18 20.0 0.0 61 97 -37.1
Bankruptcies 4 0 10 n/a -60.0 15 55 -72.7
Proposals 14 15 8 -6.7 75.0 46 42 9.5
Yukon 6 10 4 -40.0 50.0 34 36 -5.6
Bankruptcies 3 3 0 0.0 n/a 13 13 0.0
Proposals 3 7 4 -57.1 -25.0 21 23 -8.7
Nunavut 0 0 1 n/a -100.0 4 7 -42.9
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 1 n/a -100.0 4 5 -20.0
Canada 34,708 35,076 30,313 -1.0 14.5 133,923 123,391 8.5
Bankruptcies 13,757 14,348 13,549 -4.1 1.5 54,466 55,468 -1.8
Proposals 20,951 20,728 16,764 1.1 25.0 79,457 67,923 17.0
Table 3: Insolvencies Filed by Businesses
province Volume % Change 12-Month Period Ending
Q3 2019 Q2 2019 Q3 2018 Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 10 11 7 -9.1 42.9 41 24 70.8
Bankruptcies 9 11 6 -18.2 50.0 37 18 105.6
Proposals 1 0 1 n/a 0.0 4 6 -33.3
Prince Edward Island 2 5 2 -60.0 0.0 7 4 75.0
Bankruptcies 1 5 1 -80.0 0.0 6 3 100.0
Proposals 1 0 1 n/a 0.0 1 1 0.0
Nova Scotia 12 21 16 -42.9 -25.0 53 49 8.2
Bankruptcies 8 18 9 -55.6 -11.1 44 34 29.4
Proposals 4 3 7 33.3 -42.9 9 15 -40.0
New Brunswick 14 13 8 7.7 75.0 49 48 2.1
Bankruptcies 9 12 5 -25.0 80.0 37 36 2.8
Proposals 5 1 3 400.0 66.7 12 12 0.0
Quebec 445 563 475 -21.0 -6.3 2,131 2,077 2.6
Bankruptcies 340 420 360 -19.0 -5.6 1,647 1,556 5.8
Proposals 105 143 115 -26.6 -8.7 484 521 -7.1
Ontario 212 246 215 -13.8 -1.4 950 913 4.1
Bankruptcies 154 184 154 -16.3 0.0 691 671 3.0
Proposals 58 62 61 -6.5 -4.9 259 242 7.0
Manitoba 9 14 9 -35.7 0.0 35 33 6.1
Bankruptcies 8 11 8 -27.3 0.0 31 29 6.9
Proposals 1 3 1 -66.7 0.0 4 4 0.0
Saskatchewan 24 22 21 9.1 14.3 97 114 -14.9
Bankruptcies 16 10 10 60.0 60.0 56 77 -27.3
Proposals 8 12 11 -33.3 -27.3 41 37 10.8
Alberta 60 44 52 36.4 15.4 222 202 9.9
Bankruptcies 43 30 40 43.3 7.5 167 147 13.6
Proposals 17 14 12 21.4 41.7 55 55 0.0
British Columbia 37 35 21 5.7 76.2 132 107 23.4
Bankruptcies 28 25 16 12.0 75.0 91 78 16.7
Proposals 9 10 5 -10.0 80.0 41 29 41.4
Northwest Territories 2 0 0 n/a n/a 2 0 n/a
Bankruptcies 1 0 0 n/a n/a 1 0 n/a
Proposals 1 0 0 n/a n/a 1 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 827 974 826 -15.1 0.1 3,719 3,571 4.1
Bankruptcies 617 726 609 -15.0 1.3 2,808 2,649 6.0
Proposals 210 248 217 -15.3 -3.2 911 922 -1.2
Table 3a: Insolvencies Filed by Corporations
province Volume % Change 12-Month Period Ending
Q3 2019 Q2 2019 Q3 2018 Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 5 1 5 400.0 -80.0 14 14 0.0
Bankruptcies 4 1 4 300.0 -75.0 10 8 25.0
Proposals 1 0 1 n/a -100.0 4 6 -33.3
Prince Edward Island 2 2 0 0.0 n/a 4 1 300.0
Bankruptcies 1 2 0 -50.0 n/a 3 1 200.0
Proposals 1 0 0 n/a n/a 1 0 n/a
Nova Scotia 6 11 9 -45.5 22.2 27 24 12.5
Bankruptcies 2 9 6 -77.8 50.0 20 16 25.0
Proposals 4 2 3 100.0 -33.3 7 8 -12.5
New Brunswick 11 9 5 22.2 80.0 32 27 18.5
Bankruptcies 7 8 4 -12.5 100.0 26 18 44.4
Proposals 4 1 1 300.0 0.0 6 9 -33.3
Quebec 393 503 419 -21.9 20.0 1,864 1,847 0.9
Bankruptcies 302 387 320 -22.0 20.9 1,469 1,396 5.2
Proposals 91 116 99 -21.6 17.2 395 451 -12.4
Ontario 102 138 128 -26.1 7.8 534 484 10.3
Bankruptcies 75 109 95 -31.2 14.7 397 372 6.7
Proposals 27 29 33 -6.9 -12.1 137 112 22.3
Manitoba 5 5 2 0.0 150.0 11 6 83.3
Bankruptcies 5 4 2 25.0 100.0 10 5 100.0
Proposals 0 1 0 -100.0 n/a 1 1 0.0
Saskatchewan 4 1 1 300.0 0.0 7 11 -36.4
Bankruptcies 2 0 0 n/a n/a 4 6 -33.3
Proposals 2 1 1 100.0 0.0 3 5 -40.0
Alberta 37 18 24 105.6 -25.0 106 105 1.0
Bankruptcies 31 12 21 158.3 -42.9 82 72 13.9
Proposals 6 6 3 0.0 100.0 24 33 -27.3
British Columbia 16 14 5 14.3 180.0 61 42 45.2
Bankruptcies 12 9 3 33.3 200.0 37 25 48.0
Proposals 4 5 2 -20.0 150.0 24 17 41.2
Northwest Territories 1 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 1 0 0 n/a n/a 1 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 582 702 598 -17.1 17.4 2,661 2,561 3.9
Bankruptcies 441 541 455 -18.5 18.9 2,058 1,919 7.2
Proposals 141 161 143 -12.4 12.6 603 642 -6.1
Table 3b: Insolvencies Filed by Individual Businesses
province Volume % Change 12-Month Period Ending
Q3 2019 Q2 2019 Q3 2018 Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-2019 09-30-2018 % Change
Newfoundland and Labrador 5 10 2 -50.0 400.0 27 10 170.0
Bankruptcies 5 10 2 -50.0 400.0 27 10 170.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Prince Edward Island 0 3 2 -100.0 50.0 3 3 0.0
Bankruptcies 0 3 1 -100.0 200.0 3 2 50.0
Proposals 0 0 1 n/a -100.0 0 1 -100.0
Nova Scotia 6 10 7 -40.0 42.9 26 25 4.0
Bankruptcies 6 9 3 -33.3 200.0 24 18 33.3
Proposals 0 1 4 -100.0 -75.0 2 7 -71.4
New Brunswick 3 4 3 -25.0 33.3 17 21 -19.0
Bankruptcies 2 4 1 -50.0 300.0 11 18 -38.9
Proposals 1 0 2 n/a -100.0 6 3 100.0
Quebec 52 60 56 -13.3 7.1 267 230 16.1
Bankruptcies 38 33 40 15.2 -17.5 178 160 11.3
Proposals 14 27 16 -48.1 68.8 89 70 27.1
Ontario 110 108 87 1.9 24.1 416 429 -3.0
Bankruptcies 79 75 59 5.3 27.1 294 299 -1.7
Proposals 31 33 28 -6.1 17.9 122 130 -6.2
Manitoba 4 9 7 -55.6 28.6 24 27 -11.1
Bankruptcies 3 7 6 -57.1 16.7 21 24 -12.5
Proposals 1 2 1 -50.0 100.0 3 3 0.0
Saskatchewan 20 21 20 -4.8 5.0 90 103 -12.6
Bankruptcies 14 10 10 40.0 0.0 52 71 -26.8
Proposals 6 11 10 -45.5 10.0 38 32 18.8
Alberta 23 26 28 -11.5 -7.1 116 97 19.6
Bankruptcies 12 18 19 -33.3 -5.3 85 75 13.3
Proposals 11 8 9 37.5 -11.1 31 22 40.9
British Columbia 21 21 16 0.0 31.3 71 65 9.2
Bankruptcies 16 16 13 0.0 23.1 54 53 1.9
Proposals 5 5 3 0.0 66.7 17 12 41.7
Northwest Territories 1 0 0 n/a n/a 1 0 n/a
Bankruptcies 1 0 0 n/a n/a 1 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 245 272 228 -9.9 19.3 1,058 1,010 4.8
Bankruptcies 176 185 154 -4.9 20.1 750 730 2.7
Proposals 69 87 74 -20.7 17.6 308 280 10.0
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