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Insolvency statistics in Canada—First quarter of 2020

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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
- Volume % Change 12-Month Period Ending
Q1 2020 Q4 2019 Q1 2019 Q4 2019 to Q1 2020 Q1 2019 to Q1 2020 03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 624 768 772 -18.8 -19.2 3,114 2,903 7.3
Bankruptcies 270 360 326 -25.0 -17.2 1,445 1,407 2.7
Proposals 354 408 446 -13.2 -20.6 1,669 1,496 11.6
Prince Edward Island 139 207 171 -32.9 -18.7 727 714 1.8
Bankruptcies 81 106 92 -23.6 -12.0 384 408 -5.9
Proposals 58 101 79 -42.6 -26.6 343 306 12.1
Nova Scotia 1,277 1,564 1,395 -18.4 -8.5 5,981 5,722 4.5
Bankruptcies 593 760 787 -22.0 -24.7 3,050 3,504 -13.0
Proposals 684 804 608 -14.9 12.5 2,931 2,218 32.1
New Brunswick 1,150 1,207 1,099 -4.7 4.6 4,947 4,669 6.0
Bankruptcies 456 573 529 -20.4 -13.8 2,304 2,365 -2.6
Proposals 694 634 570 9.5 21.8 2,643 2,304 14.7
Quebec 10,861 11,384 11,171 -4.6 -2.8 44,681 43,701 2.2
Bankruptcies 4,627 5,423 5,279 -14.7 -12.4 21,006 22,382 -6.1
Proposals 6,234 5,961 5,892 4.6 5.8 23,675 21,319 11.1
Ontario 11,396 11,793 10,410 -3.4 9.5 46,740 40,696 14.9
Bankruptcies 3,280 3,750 3,440 -12.5 -4.7 15,069 15,150 -0.5
Proposals 8,116 8,043 6,970 0.9 16.4 31,671 25,546 24.0
Manitoba 803 846 716 -5.1 12.2 3,272 2,988 9.5
Bankruptcies 234 310 302 -24.5 -22.5 1,309 1,423 -8.0
Proposals 569 536 414 6.2 37.4 1,963 1,565 25.4
Saskatchewan 861 1,008 860 -14.6 0.1 3,558 3,559 0.0
Bankruptcies 321 425 334 -24.5 -3.9 1,368 1,370 -0.1
Proposals 540 583 526 -7.4 2.7 2,190 2,189 0.0
Alberta 4,345 4,343 3,996 0.0 8.7 17,247 15,294 12.8
Bankruptcies 1,248 1,407 1,429 -11.3 -12.7 5,563 5,289 5.2
Proposals 3,097 2,936 2,567 5.5 20.6 11,684 10,005 16.8
British Columbia 2,635 2,911 2,594 -9.5 1.6 11,389 10,375 9.8
Bankruptcies 961 1,055 1,006 -8.9 -4.5 4,179 4,089 2.2
Proposals 1,674 1,856 1,588 -9.8 5.4 7,210 6,286 14.7
Northwest Territories 15 16 17 -6.3 -11.8 66 71 -7.0
Bankruptcies 5 2 3 150.0 66.7 12 36 -66.7
Proposals 10 14 14 -28.6 -28.6 54 35 54.3
Yukon 4 11 6 -63.6 -33.3 31 31 0.0
Bankruptcies 2 5 2 -60.0 0.0 13 11 18.2
Proposals 2 6 4 -66.7 -50.0 18 20 -10.0
Nunavut 0 4 4 -100.0 -100.0 4 7 -42.9
Bankruptcies 0 2 0 -100.0 n/a 2 0 n/a
Proposals 0 2 4 -100.0 -100.0 2 7 -71.4
Canada 34,110 36,062 33,211 -5.4 2.7 141,757 130,730 8.4
Bankruptcies 12,078 14,178 13,529 -14.8 -10.7 55,704 57,434 -3.0
Proposals 22,032 21,884 19,682 0.7 11.9 86,053 73,296 17.4
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
Q1 2020 Q4 2019 Q1 2019 Q4 2019 to Q1 2020 Q1 2019 to Q1 2020 03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 622 758 762 -17.9 -18.4 3,081 2,873 7.2
Bankruptcies 268 355 316 -24.5 -15.2 1,418 1,381 2.7
Proposals 354 403 446 -12.2 -20.6 1,663 1,492 11.5
Prince Edward Island 138 204 171 -32.4 -19.3 716 711 0.7
Bankruptcies 80 103 92 -22.3 -13.0 374 406 -7.9
Proposals 58 101 79 -42.6 -26.6 342 305 12.1
Nova Scotia 1,265 1,550 1,383 -18.4 -8.5 5,922 5,679 4.3
Bankruptcies 583 746 776 -21.8 -24.9 3,000 3,472 -13.6
Proposals 682 804 607 -15.2 12.4 2,922 2,207 32.4
New Brunswick 1,147 1,202 1,086 -4.6 5.6 4,912 4,624 6.2
Bankruptcies 453 569 520 -20.4 -12.9 2,276 2,329 -2.3
Proposals 694 633 566 9.6 22.6 2,636 2,295 14.9
Quebec 10,335 10,840 10,597 -4.7 -2.5 42,603 41,590 2.4
Bankruptcies 4,242 5,026 4,816 -15.6 -11.9 19,464 20,762 -6.3
Proposals 6,093 5,814 5,781 4.8 5.4 23,139 20,828 11.1
Ontario 11,174 11,588 10,171 -3.6 9.9 45,855 39,755 15.3
Bankruptcies 3,135 3,612 3,264 -13.2 -4.0 14,448 14,466 -0.1
Proposals 8,039 7,976 6,907 0.8 16.4 31,407 25,289 24.2
Manitoba 794 837 709 -5.1 12.0 3,231 2,961 9.1
Bankruptcies 230 303 295 -24.1 -22.0 1,279 1,398 -8.5
Proposals 564 534 414 5.6 36.2 1,952 1,563 24.9
Saskatchewan 835 973 837 -14.2 -0.2 3,451 3,464 -0.4
Bankruptcies 298 399 322 -25.3 -7.5 1,293 1,314 -1.6
Proposals 537 574 515 -6.4 4.3 2,158 2,150 0.4
Alberta 4,296 4,286 3,934 0.2 9.2 17,037 15,073 13.0
Bankruptcies 1,206 1,369 1,385 -11.9 -12.9 5,410 5,114 5.8
Proposals 3,090 2,917 2,549 5.9 21.2 11,627 9,959 16.7
British Columbia 2,602 2,888 2,562 -9.9 1.6 11,261 10,269 9.7
Bankruptcies 946 1,039 985 -9.0 -4.0 4,095 4,015 2.0
Proposals 1,656 1,849 1,577 -10.4 5.0 7,166 6,254 14.6
Northwest Territories 15 16 17 -6.3 -11.8 64 71 -9.9
Bankruptcies 5 2 3 150.0 66.7 11 36 -69.4
Proposals 10 14 14 -28.6 -28.6 53 35 51.4
Yukon 4 11 6 -63.6 -33.3 31 31 0.0
Bankruptcies 2 5 2 -60.0 0.0 13 11 18.2
Proposals 2 6 4 -66.7 -50.0 18 20 -10.0
Nunavut 0 2 4 -100.0 -100.0 2 7 -71.4
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 2 4 -100.0 -100.0 2 7 -71.4
Canada 33,227 35,155 32,239 -5.5 3.1 138,166 127,108 8.7
Bankruptcies 11,448 13,528 12,776 -15.4 -10.4 53,081 54,704 -3.0
Proposals 21,779 21,627 19,463 0.7 11.9 85,085 72,404 17.5
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
Q1 2020 Q4 2019 Q1 2019 Q4 2019 to Q1 2020 Q1 2019 to Q1 2020 03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 2 10 10 -80.0 -80.0 33 30 10.0
Bankruptcies 2 5 10 -60.0 -80.0 27 26 3.8
Proposals 0 5 0 -100.0 n/a 6 4 50.0
Prince Edward Island 1 3 0 -66.7 n/a 11 3 266.7
Bankruptcies 1 3 0 -66.7 n/a 10 2 400.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 12 14 12 -14.3 0.0 59 43 37.2
Bankruptcies 10 14 11 -28.6 -9.1 50 32 56.3
Proposals 2 0 1 n/a 100.0 9 11 -18.2
New Brunswick 3 5 13 -40.0 -76.9 35 45 -22.2
Bankruptcies 3 4 9 -25.0 -66.7 28 36 -22.2
Proposals 0 1 4 -100.0 -100.0 7 9 -22.2
Quebec 526 544 574 -3.3 -8.4 2,078 2,111 -1.6
Bankruptcies 385 397 463 -3.0 -16.8 1,542 1,620 -4.8
Proposals 141 147 111 -4.1 27.0 536 491 9.2
Ontario 222 205 239 8.3 -7.1 885 941 -6.0
Bankruptcies 145 138 176 5.1 -17.6 621 684 -9.2
Proposals 77 67 63 14.9 22.2 264 257 2.7
Manitoba 9 9 7 0.0 28.6 41 27 51.9
Bankruptcies 4 7 7 -42.9 -42.9 30 25 20.0
Proposals 5 2 0 150.0 n/a 11 2 450.0
Saskatchewan 26 35 23 -25.7 13.0 107 95 12.6
Bankruptcies 23 26 12 -11.5 91.7 75 56 33.9
Proposals 3 9 11 -66.7 -72.7 32 39 -17.9
Alberta 49 57 62 -14.0 -21.0 210 221 -5.0
Bankruptcies 42 38 44 10.5 -4.5 153 175 -12.6
Proposals 7 19 18 -63.2 -61.1 57 46 23.9
British Columbia 33 23 32 43.5 3.1 128 106 20.8
Bankruptcies 15 16 21 -6.3 -28.6 84 74 13.5
Proposals 18 7 11 157.1 63.6 44 32 37.5
Northwest Territories 0 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 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 2 0 -100.0 n/a 2 0 n/a
Bankruptcies 0 2 0 -100.0 n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 883 907 972 -2.6 -9.2 3,591 3,622 -0.9
Bankruptcies 630 650 753 -3.1 -16.3 2,623 2,730 -3.9
Proposals 253 257 219 -1.6 15.5 968 892 8.5
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
Q1 2020 Q4 2019 Q1 2019 Q4 2019 to Q1 2020 Q1 2019 to Q1 2020 03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 0 4 3 -100.0 33.3 10 13 -23.1
Bankruptcies 0 2 3 -100.0 -33.3 7 9 -22.2
Proposals 0 2 0 -100.0 n/a 3 4 -25.0
Prince Edward Island 0 0 0 n/a n/a 4 1 300.0
Bankruptcies 0 0 0 n/a n/a 3 1 200.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 8 8 6 0.0 33.3 33 22 50.0
Bankruptcies 6 8 5 -25.0 60.0 25 17 47.1
Proposals 2 0 1 n/a -100.0 8 5 60.0
New Brunswick 3 3 6 0.0 -50.0 26 22 18.2
Bankruptcies 3 2 6 50.0 -66.7 20 20 0.0
Proposals 0 1 0 -100.0 n/a 6 2 200.0
Quebec 462 464 502 -0.4 -7.6 1,822 1,834 -0.7
Bankruptcies 349 351 413 -0.6 -15.0 1,389 1,428 -2.7
Proposals 113 113 89 0.0 27.0 433 406 6.7
Ontario 115 108 140 6.5 -22.9 463 557 -16.9
Bankruptcies 85 74 104 14.9 -28.8 343 413 -16.9
Proposals 30 34 36 -11.8 -5.6 120 144 -16.7
Manitoba 6 3 0 100.0 n/a 19 4 375.0
Bankruptcies 1 2 0 -50.0 n/a 12 3 300.0
Proposals 5 1 0 400.0 n/a 7 1 600.0
Saskatchewan 4 2 1 100.0 100.0 11 6 83.3
Bankruptcies 4 2 1 100.0 100.0 8 4 100.0
Proposals 0 0 0 n/a n/a 3 2 50.0
Alberta 32 35 27 -8.6 29.6 122 99 23.2
Bankruptcies 27 23 17 17.4 35.3 93 77 20.8
Proposals 5 12 10 -58.3 20.0 29 22 31.8
British Columbia 15 7 17 114.3 -58.8 52 45 15.6
Bankruptcies 8 6 9 33.3 -33.3 35 27 29.6
Proposals 7 1 8 600.0 -87.5 17 18 -5.6
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 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 2 0 -100.0 n/a 2 0 n/a
Bankruptcies 0 2 0 -100.0 n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 645 636 702 1.4 -9.4 2,565 2,603 -1.5
Bankruptcies 483 472 558 2.3 -15.4 1,937 1,999 -3.1
Proposals 162 164 144 -1.2 13.9 628 604 4.0
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
Q1 2020 Q4 2019 Q1 2019 Q4 2019 to Q1 2020 Q1 2019 to Q1 2020 03-31-2020 03-31-2019 % Change
Newfoundland and Labrador 2 6 7 -66.7 -14.3 23 17 35.3
Bankruptcies 2 3 7 -33.3 -57.1 20 17 17.6
Proposals 0 3 0 -100.0 n/a 3 0 n/a
Prince Edward Island 1 3 0 -66.7 n/a 7 2 250.0
Bankruptcies 1 3 0 -66.7 n/a 7 1 600.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 4 6 6 -33.3 0.0 26 21 23.8
Bankruptcies 4 6 6 -33.3 0.0 25 15 66.7
Proposals 0 0 0 n/a n/a 1 6 -83.3
New Brunswick 0 2 7 -100.0 -71.4 9 23 -60.9
Bankruptcies 0 2 3 -100.0 -33.3 8 16 -50.0
Proposals 0 0 4 n/a -100.0 1 7 -85.7
Quebec 64 80 72 -20.0 11.1 256 277 -7.6
Bankruptcies 36 46 50 -21.7 -8.0 153 192 -20.3
Proposals 28 34 22 -17.6 54.5 103 85 21.2
Ontario 107 97 99 10.3 -2.0 422 384 9.9
Bankruptcies 60 64 72 -6.3 -11.1 278 271 2.6
Proposals 47 33 27 42.4 22.2 144 113 27.4
Manitoba 3 6 7 -50.0 -14.3 22 23 -4.3
Bankruptcies 3 5 7 -40.0 -28.6 18 22 -18.2
Proposals 0 1 0 -100.0 n/a 4 1 300.0
Saskatchewan 22 33 22 -33.3 50.0 96 89 7.9
Bankruptcies 19 24 11 -20.8 118.2 67 52 28.8
Proposals 3 9 11 -66.7 -18.2 29 37 -21.6
Alberta 17 22 35 -22.7 -37.1 88 122 -27.9
Bankruptcies 15 15 27 0.0 -44.4 60 98 -38.8
Proposals 2 7 8 -71.4 -12.5 28 24 16.7
British Columbia 18 16 15 12.5 6.7 76 61 24.6
Bankruptcies 7 10 12 -30.0 -16.7 49 47 4.3
Proposals 11 6 3 83.3 100.0 27 14 92.9
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 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 238 271 270 -12.2 0.4 1,026 1,019 0.7
Bankruptcies 147 178 195 -17.4 -8.7 686 731 -6.2
Proposals 91 93 75 -2.2 24.0 340 288 18.1
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