Insolvency statistics in Canada—Fourth 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
Q4 2019 Q3 2019 Q4 2018 Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-2019 12-31-2018 % Change
Newfoundland and Labrador 768 803 707 -4.4 8.6 3,262 2,826 15.4
Bankruptcies 360 377 343 -4.5 5.0 1,501 1,396 7.5
Proposals 408 426 364 -4.2 12.1 1,761 1,430 23.1
Prince Edward Island 207 174 189 19.0 9.5 759 735 3.3
Bankruptcies 106 92 103 15.2 2.9 395 429 -7.9
Proposals 101 82 86 23.2 17.4 364 306 19.0
Nova Scotia 1,564 1,515 1,393 3.2 12.3 6,099 5,642 8.1
Bankruptcies 760 791 852 -3.9 -10.8 3,244 3,516 -7.7
Proposals 804 724 541 11.0 48.6 2,855 2,126 34.3
New Brunswick 1,207 1,269 1,185 -4.9 1.9 4,896 4,517 8.4
Bankruptcies 573 623 599 -8.0 -4.3 2,377 2,294 3.6
Proposals 634 646 586 -1.9 8.2 2,519 2,223 13.3
Quebec 11,384 11,146 10,948 2.1 4.0 44,991 43,831 2.6
Bankruptcies 5,423 5,401 5,650 0.4 -4.0 21,658 22,767 -4.9
Proposals 5,961 5,745 5,298 3.8 12.5 23,333 21,064 10.8
Ontario 11,793 11,726 10,229 0.6 15.3 45,754 39,793 15.0
Bankruptcies 3,750 3,892 3,764 -3.6 -0.4 15,229 15,348 -0.8
Proposals 8,043 7,834 6,465 2.7 24.4 30,525 24,445 24.9
Manitoba 846 790 794 7.1 6.5 3,185 2,852 11.7
Bankruptcies 310 355 382 -12.7 -18.8 1,377 1,390 -0.9
Proposals 536 435 412 23.2 30.1 1,808 1,462 23.7
Saskatchewan 1,008 849 901 18.7 11.9 3,557 3,498 1.7
Bankruptcies 425 301 346 41.2 22.8 1,381 1,339 3.1
Proposals 583 548 555 6.4 5.0 2,176 2,159 0.8
Alberta 4,343 4,275 3,848 1.6 12.9 16,898 14,761 14.5
Bankruptcies 1,407 1,439 1,279 -2.2 10.0 5,744 5,087 12.9
Proposals 2,936 2,836 2,569 3.5 14.3 11,154 9,674 15.3
British Columbia 2,911 2,962 2,629 -1.7 10.7 11,348 10,275 10.4
Bankruptcies 1,055 1,095 966 -3.7 9.2 4,224 4,147 1.9
Proposals 1,856 1,867 1,663 -0.6 11.6 7,124 6,128 16.3
Northwest Territories 16 20 11 -20.0 45.5 68 78 -12.8
Bankruptcies 2 5 8 -60.0 -75.0 10 42 -76.2
Proposals 14 15 3 -6.7 366.7 58 36 61.1
Yukon 11 6 12 83.3 -8.3 33 35 -5.7
Bankruptcies 5 3 5 66.7 0.0 13 13 0.0
Proposals 6 3 7 100.0 -14.3 20 22 -9.1
Nunavut 4 0 0 n/a n/a 8 3 166.7
Bankruptcies 2 0 0 n/a n/a 2 0 n/a
Proposals 2 0 0 n/a n/a 6 3 100.0
Canada 36,062 35,535 32,846 1.5 9.8 140,858 128,846 9.3
Bankruptcies 14,178 14,374 14,297 -1.4 -0.8 57,155 57,768 -1.1
Proposals 21,884 21,161 18,549 3.4 18.0 83,703 71,078 17.8
Table 2: Insolvencies Filed by Consumers
province Volume % Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-2019 12-31-2018 % Change
Newfoundland and Labrador 758 793 697 -4.4 8.8 3,221 2,802 15.0
Bankruptcies 355 368 336 -3.5 5.7 1,466 1,376 6.5
Proposals 403 425 361 -5.2 11.6 1,755 1,426 23.1
Prince Edward Island 204 172 189 18.6 7.9 749 731 2.5
Bankruptcies 103 91 103 13.2 0.0 386 426 -9.4
Proposals 101 81 86 24.7 17.4 363 305 19.0
Nova Scotia 1,550 1,503 1,385 3.1 11.9 6,040 5,595 8.0
Bankruptcies 746 783 845 -4.7 -11.7 3,193 3,483 -8.3
Proposals 804 720 540 11.7 48.9 2,847 2,112 34.8
New Brunswick 1,202 1,255 1,176 -4.2 2.2 4,851 4,480 8.3
Bankruptcies 569 614 592 -7.3 -3.9 2,343 2,262 3.6
Proposals 633 641 584 -1.2 8.4 2,508 2,218 13.1
Quebec 10,840 10,701 10,399 1.3 4.2 42,865 41,736 2.7
Bankruptcies 5,026 5,061 5,226 -0.7 -3.8 20,038 21,188 -5.4
Proposals 5,814 5,640 5,173 3.1 12.4 22,827 20,548 11.1
Ontario 11,588 11,514 9,976 0.6 16.2 44,852 38,856 15.4
Bankruptcies 3,612 3,738 3,587 -3.4 0.7 14,577 14,660 -0.6
Proposals 7,976 7,776 6,389 2.6 24.8 30,275 24,196 25.1
Manitoba 837 781 789 7.2 6.1 3,146 2,824 11.4
Bankruptcies 303 347 377 -12.7 -19.6 1,344 1,364 -1.5
Proposals 534 434 412 23.0 29.6 1,802 1,460 23.4
Saskatchewan 973 825 873 17.9 11.5 3,453 3,399 1.6
Bankruptcies 399 285 328 40.0 21.6 1,317 1,280 2.9
Proposals 574 540 545 6.3 5.3 2,136 2,119 0.8
Alberta 4,286 4,215 3,792 1.7 13.0 16,675 14,555 14.6
Bankruptcies 1,369 1,396 1,229 -1.9 11.4 5,589 4,925 13.5
Proposals 2,917 2,819 2,563 3.5 13.8 11,086 9,630 15.1
British Columbia 2,888 2,925 2,601 -1.3 11.0 11,221 10,172 10.3
Bankruptcies 1,039 1,067 949 -2.6 9.5 4,134 4,072 1.5
Proposals 1,849 1,858 1,652 -0.5 11.9 7,087 6,100 16.2
Northwest Territories 16 18 11 -11.1 45.5 66 78 -15.4
Bankruptcies 2 4 8 -50.0 -75.0 9 42 -78.6
Proposals 14 14 3 0.0 366.7 57 36 58.3
Yukon 11 6 12 83.3 -8.3 33 35 -5.7
Bankruptcies 5 3 5 66.7 0.0 13 13 0.0
Proposals 6 3 7 100.0 -14.3 20 22 -9.1
Nunavut 2 0 0 n/a n/a 6 3 100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 2 0 0 n/a n/a 6 3 100.0
Canada 35,155 34,708 31,900 1.3 10.2 137,178 125,266 9.5
Bankruptcies 13,528 13,757 13,585 -1.7 -0.4 54,409 55,091 -1.2
Proposals 21,627 20,951 18,315 3.2 18.1 82,769 70,175 17.9
Table 3: Insolvencies Filed by Businesses
province Volume % Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-2019 12-31-2018 % Change
Newfoundland and Labrador 10 10 10 0.0 0.0 41 24 70.8
Bankruptcies 5 9 7 -44.4 -28.6 35 20 75.0
Proposals 5 1 3 400.0 66.7 6 4 50.0
Prince Edward Island 3 2 0 50.0 n/a 10 4 150.0
Bankruptcies 3 1 0 200.0 n/a 9 3 200.0
Proposals 0 1 0 -100.0 n/a 1 1 0.0
Nova Scotia 14 12 8 16.7 75.0 59 47 25.5
Bankruptcies 14 8 7 75.0 100.0 51 33 54.5
Proposals 0 4 1 -100.0 -100.0 8 14 -42.9
New Brunswick 5 14 9 -64.3 -44.4 45 37 21.6
Bankruptcies 4 9 7 -55.6 -42.9 34 32 6.3
Proposals 1 5 2 -80.0 -50.0 11 5 120.0
Quebec 544 445 549 22.2 -0.9 2,126 2,095 1.5
Bankruptcies 397 340 424 16.8 -6.4 1,620 1,579 2.6
Proposals 147 105 125 40.0 17.6 506 516 -1.9
Ontario 205 212 253 -3.3 -19.0 902 937 -3.7
Bankruptcies 138 154 177 -10.4 -22.0 652 688 -5.2
Proposals 67 58 76 15.5 -11.8 250 249 0.4
Manitoba 9 9 5 0.0 80.0 39 28 39.3
Bankruptcies 7 8 5 -12.5 40.0 33 26 26.9
Proposals 2 1 0 100.0 n/a 6 2 200.0
Saskatchewan 35 24 28 45.8 25.0 104 99 5.1
Bankruptcies 26 16 18 62.5 44.4 64 59 8.5
Proposals 9 8 10 12.5 -10.0 40 40 0.0
Alberta 57 60 56 -5.0 1.8 223 206 8.3
Bankruptcies 38 43 50 -11.6 -24.0 155 162 -4.3
Proposals 19 17 6 11.8 216.7 68 44 54.5
British Columbia 23 37 28 -37.8 -17.9 127 103 23.3
Bankruptcies 16 28 17 -42.9 -5.9 90 75 20.0
Proposals 7 9 11 -22.2 -36.4 37 28 32.1
Northwest Territories 0 2 0 -100.0 n/a 2 0 n/a
Bankruptcies 0 1 0 -100.0 n/a 1 0 n/a
Proposals 0 1 0 -100.0 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 2 0 0 n/a n/a 2 0 n/a
Bankruptcies 2 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 907 827 946 9.7 -4.1 3,680 3,580 2.8
Bankruptcies 650 617 712 5.3 -8.7 2,746 2,677 2.6
Proposals 257 210 234 22.4 9.8 934 903 3.4
Table 3a: Insolvencies Filed by Corporations
province Volume % Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-2019 12-31-2018 % Change
Newfoundland and Labrador 4 5 5 -20.0 0.0 13 11 18.2
Bankruptcies 2 4 2 -50.0 100.0 10 7 42.9
Proposals 2 1 3 100.0 -66.7 3 4 -25.0
Prince Edward Island 0 2 0 -100.0 n/a 4 1 300.0
Bankruptcies 0 1 0 -100.0 n/a 3 1 200.0
Proposals 0 1 0 -100.0 n/a 1 0 n/a
Nova Scotia 8 6 4 33.3 50.0 31 24 29.2
Bankruptcies 8 2 4 300.0 -50.0 24 18 33.3
Proposals 0 4 0 -100.0 n/a 7 6 16.7
New Brunswick 3 11 6 -72.7 83.3 29 20 45.0
Bankruptcies 2 7 5 -71.4 40.0 23 18 27.8
Proposals 1 4 1 -75.0 300.0 6 2 200.0
Quebec 464 393 466 18.1 -15.7 1,862 1,831 1.7
Bankruptcies 351 302 367 16.2 -17.7 1,453 1,401 3.7
Proposals 113 91 99 24.2 -8.1 409 430 -4.9
Ontario 108 102 154 5.9 -33.8 488 523 -6.7
Bankruptcies 74 75 109 -1.3 -31.2 362 397 -8.8
Proposals 34 27 45 25.9 -40.0 126 126 0.0
Manitoba 3 5 1 -40.0 400.0 13 6 116.7
Bankruptcies 2 5 1 -60.0 400.0 11 5 120.0
Proposals 1 0 0 n/a n/a 2 1 100.0
Saskatchewan 2 4 1 -50.0 300.0 8 8 0.0
Bankruptcies 2 2 1 0.0 100.0 5 4 25.0
Proposals 0 2 0 -100.0 n/a 3 4 -25.0
Alberta 35 37 24 -5.4 54.2 117 99 18.2
Bankruptcies 23 31 22 -25.8 40.9 83 77 7.8
Proposals 12 6 2 100.0 200.0 34 22 54.5
British Columbia 7 16 14 -56.3 14.3 54 37 45.9
Bankruptcies 6 12 7 -50.0 71.4 36 24 50.0
Proposals 1 4 7 -75.0 -42.9 18 13 38.5
Northwest Territories 0 1 0 -100.0 n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 1 0 -100.0 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 2 0 0 n/a n/a 2 0 n/a
Bankruptcies 2 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 636 582 675 9.3 -13.8 2,622 2,560 2.4
Bankruptcies 472 441 518 7.0 -14.9 2,012 1,952 3.1
Proposals 164 141 157 16.3 -10.2 610 608 0.3
Table 3b: Insolvencies Filed by Individual Businesses
province Volume % Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-2019 12-31-2018 % Change
Newfoundland and Labrador 6 5 5 20.0 0.0 28 13 115.4
Bankruptcies 3 5 5 -40.0 0.0 25 13 92.3
Proposals 3 0 0 n/a n/a 3 0 n/a
Prince Edward Island 3 0 0 n/a n/a 6 3 100.0
Bankruptcies 3 0 0 n/a n/a 6 2 200.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 6 6 4 0.0 50.0 28 23 21.7
Bankruptcies 6 6 3 0.0 100.0 27 15 80.0
Proposals 0 0 1 n/a -100.0 1 8 -87.5
New Brunswick 2 3 3 -33.3 0.0 16 17 -5.9
Bankruptcies 2 2 2 0.0 0.0 11 14 -21.4
Proposals 0 1 1 -100.0 0.0 5 3 66.7
Quebec 80 52 83 53.8 -37.3 264 264 0.0
Bankruptcies 46 38 57 21.1 -33.3 167 178 -6.2
Proposals 34 14 26 142.9 -46.2 97 86 12.8
Ontario 97 110 99 -11.8 11.1 414 414 0.0
Bankruptcies 64 79 68 -19.0 16.2 290 291 -0.3
Proposals 33 31 31 6.5 0.0 124 123 0.8
Manitoba 6 4 4 50.0 0.0 26 22 18.2
Bankruptcies 5 3 4 66.7 -25.0 22 21 4.8
Proposals 1 1 0 0.0 n/a 4 1 300.0
Saskatchewan 33 20 27 65.0 -25.9 96 91 5.5
Bankruptcies 24 14 17 71.4 -17.6 59 55 7.3
Proposals 9 6 10 50.0 -40.0 37 36 2.8
Alberta 22 23 32 -4.3 -28.1 106 107 -0.9
Bankruptcies 15 12 28 25.0 -57.1 72 85 -15.3
Proposals 7 11 4 -36.4 175.0 34 22 54.5
British Columbia 16 21 14 -23.8 50.0 73 66 10.6
Bankruptcies 10 16 10 -37.5 60.0 54 51 5.9
Proposals 6 5 4 20.0 25.0 19 15 26.7
Northwest Territories 0 1 0 -100.0 n/a 1 0 n/a
Bankruptcies 0 1 0 -100.0 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 271 245 271 10.6 -9.6 1,058 1,020 3.7
Bankruptcies 178 176 194 1.1 -9.3 734 725 1.2
Proposals 93 69 77 34.8 -10.4 324 295 9.8
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