Insolvency Statistics in Canada—Second Quarter of 2020

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
- Volume % Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 to Q2 2020 Q2 2019 to Q2 2020 06-30-2020 06-30-2019 % Change
Newfoundland and Labrador 344 624 919 -44.9 -62.6 2,539 3,077 -17.5
Bankruptcies 170 270 438 -37.0 -61.2 1,177 1,466 -19.7
Proposals 174 354 481 -50.8 -63.8 1,362 1,611 -15.5
Prince Edward Island 91 139 207 -34.5 -56.0 611 732 -16.5
Bankruptcies 40 81 105 -50.6 -61.9 319 393 -18.8
Proposals 51 58 102 -12.1 -50.0 292 339 -13.9
Nova Scotia 682 1,277 1,625 -46.6 -58.0 5,038 5,792 -13.0
Bankruptcies 311 593 906 -47.6 -65.7 2,455 3,431 -28.4
Proposals 371 684 719 -45.8 -48.4 2,583 2,361 9.4
New Brunswick 608 1,150 1,321 -47.1 -54.0 4,234 4,804 -11.9
Bankruptcies 280 456 652 -38.6 -57.1 1,932 2,396 -19.4
Proposals 328 694 669 -52.7 -51.0 2,302 2,408 -4.4
Quebec 4,881 10,861 11,290 -55.1 -56.8 38,272 43,882 -12.8
Bankruptcies 2,345 4,627 5,555 -49.3 -57.8 17,796 22,007 -19.1
Proposals 2,536 6,234 5,735 -59.3 -55.8 20,476 21,875 -6.4
Ontario 7,312 11,396 11,825 -35.8 -38.2 42,227 42,086 0.3
Bankruptcies 2,017 3,280 4,147 -38.5 -51.4 12,939 15,095 -14.3
Proposals 5,295 8,116 7,678 -34.8 -31.0 29,288 26,991 8.5
Manitoba 597 803 833 -25.7 -28.3 3,036 3,028 0.3
Bankruptcies 181 234 410 -22.6 -55.9 1,080 1,427 -24.3
Proposals 416 569 423 -26.9 -1.7 1,956 1,601 22.2
Saskatchewan 571 861 840 -33.7 -32.0 3,289 3,528 -6.8
Bankruptcies 189 321 321 -41.1 -41.1 1,236 1,365 -9.5
Proposals 382 540 519 -29.3 -26.4 2,053 2,163 -5.1
Alberta 2,763 4,345 4,284 -36.4 -35.5 15,726 15,694 0.2
Bankruptcies 763 1,248 1,469 -38.9 -48.1 4,857 5,415 -10.3
Proposals 2,000 3,097 2,815 -35.4 -29.0 10,869 10,279 5.7
British Columbia 1,890 2,635 2,881 -28.3 -34.4 10,398 10,525 -1.2
Bankruptcies 560 961 1,068 -41.7 -47.6 3,671 4,032 -9.0
Proposals 1,330 1,674 1,813 -20.5 -26.6 6,727 6,493 3.6
Northwest Territories 9 15 15 -40.0 -40.0 60 61 -1.6
Bankruptcies 3 5 0 -40.0 n/a 15 21 -28.6
Proposals 6 10 15 -40.0 -60.0 45 40 12.5
Yukon 16 4 10 300.0 60.0 37 32 15.6
Bankruptcies 5 2 3 150.0 66.7 15 10 50.0
Proposals 11 2 7 450.0 57.1 22 22 0.0
Nunavut 3 0 0 n/a n/a 7 5 40.0
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 3 0 0 n/a n/a 5 5 0.0
Canada 19,767 34,110 36,050 -42.0 -45.2 125,474 133,246 -5.8
Bankruptcies 6,864 12,078 15,074 -43.2 -54.5 47,494 57,058 -16.8
Proposals 12,903 22,032 20,976 -41.4 -38.5 77,980 76,188 2.4
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 to Q2 2020 Q2 2019 to Q2 2020 06-30-2020 06-30-2019 % Change
Newfoundland and Labrador 343 622 908 -44.9 -62.2 2,516 3,039 -17.2
Bankruptcies 169 268 427 -36.9 -60.4 1,160 1,432 -19.0
Proposals 174 354 481 -50.8 -63.8 1,356 1,607 -15.6
Prince Edward Island 90 138 202 -34.8 -55.4 604 725 -16.7
Bankruptcies 40 80 100 -50.0 -60.0 314 387 -18.9
Proposals 50 58 102 -13.8 -51.0 290 338 -14.2
Nova Scotia 680 1,265 1,604 -46.2 -57.6 4,998 5,735 -12.9
Bankruptcies 309 583 888 -47.0 -65.2 2,421 3,386 -28.5
Proposals 371 682 716 -45.6 -48.2 2,577 2,349 9.7
New Brunswick 603 1,147 1,308 -47.4 -53.9 4,207 4,761 -11.6
Bankruptcies 277 453 640 -38.9 -56.7 1,913 2,363 -19.0
Proposals 326 694 668 -53.0 -51.2 2,294 2,398 -4.3
Quebec 4,559 10,335 10,727 -55.9 -57.5 36,435 41,721 -12.7
Bankruptcies 2,092 4,242 5,135 -50.7 -59.3 16,421 20,340 -19.3
Proposals 2,467 6,093 5,592 -59.5 -55.9 20,014 21,381 -6.4
Ontario 7,133 11,174 11,579 -36.2 -38.4 41,409 41,133 0.7
Bankruptcies 1,883 3,135 3,963 -39.9 -52.5 12,368 14,404 -14.1
Proposals 5,250 8,039 7,616 -34.7 -31.1 29,041 26,729 8.6
Manitoba 585 794 819 -26.3 -28.6 2,997 2,993 0.1
Bankruptcies 170 230 399 -26.1 -57.4 1,050 1,396 -24.8
Proposals 415 564 420 -26.4 -1.2 1,947 1,597 21.9
Saskatchewan 564 835 818 -32.5 -31.1 3,197 3,434 -6.9
Bankruptcies 185 298 311 -37.9 -40.5 1,167 1,315 -11.3
Proposals 379 537 507 -29.4 -25.2 2,030 2,119 -4.2
Alberta 2,726 4,296 4,240 -36.5 -35.7 15,523 15,480 0.3
Bankruptcies 741 1,206 1,439 -38.6 -48.5 4,712 5,251 -10.3
Proposals 1,985 3,090 2,801 -35.8 -29.1 10,811 10,229 5.7
British Columbia 1,849 2,602 2,846 -28.9 -35.0 10,264 10,409 -1.4
Bankruptcies 539 946 1,043 -43.0 -48.3 3,591 3,953 -9.2
Proposals 1,310 1,656 1,803 -20.9 -27.3 6,673 6,456 3.4
Northwest Territories 9 15 15 -40.0 -40.0 58 61 -4.9
Bankruptcies 3 5 0 -40.0 n/a 14 21 -33.3
Proposals 6 10 15 -40.0 -60.0 44 40 10.0
Yukon 16 4 10 300.0 60.0 37 32 15.6
Bankruptcies 5 2 3 150.0 66.7 15 10 50.0
Proposals 11 2 7 450.0 57.1 22 22 0.0
Nunavut 3 0 0 n/a n/a 5 5 0.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 3 0 0 n/a n/a 5 5 0.0
Canada 19,160 33,227 35,076 -42.3 -45.4 122,250 129,528 -5.6
Bankruptcies 6,413 11,448 14,348 -44.0 -55.3 45,146 54,258 -16.8
Proposals 12,747 21,779 20,728 -41.5 -38.5 77,104 75,270 2.4
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 to Q2 2020 Q2 2019 to Q2 2020 06-30-2020 06-30-2019 % Change
Newfoundland and Labrador 1 2 11 -50.0 -90.9 23 38 -39.5
Bankruptcies 1 2 11 -50.0 -90.9 17 34 -50.0
Proposals 0 0 0 n/a n/a 6 4 50.0
Prince Edward Island 1 1 5 0.0 -80.0 7 7 0.0
Bankruptcies 0 1 5 -100.0 -100.0 5 6 -16.7
Proposals 1 0 0 n/a n/a 2 1 100.0
Nova Scotia 2 12 21 -83.3 -90.5 40 57 -29.8
Bankruptcies 2 10 18 -80.0 -88.9 34 45 -24.4
Proposals 0 2 3 -100.0 -100.0 6 12 -50.0
New Brunswick 5 3 13 66.7 -61.5 27 43 -37.2
Bankruptcies 3 3 12 0.0 -75.0 19 33 -42.4
Proposals 2 0 1 n/a 100.0 8 10 -20.0
Quebec 322 526 563 -38.8 -42.8 1,837 2,161 -15.0
Bankruptcies 253 385 420 -34.3 -39.8 1,375 1,667 -17.5
Proposals 69 141 143 -51.1 -51.7 462 494 -6.5
Ontario 179 222 246 -19.4 -27.2 818 953 -14.2
Bankruptcies 134 145 184 -7.6 -27.2 571 691 -17.4
Proposals 45 77 62 -41.6 -27.4 247 262 -5.7
Manitoba 12 9 14 33.3 -14.3 39 35 11.4
Bankruptcies 11 4 11 175.0 0.0 30 31 -3.2
Proposals 1 5 3 -80.0 -66.7 9 4 125.0
Saskatchewan 7 26 22 -73.1 -68.2 92 94 -2.1
Bankruptcies 4 23 10 -82.6 -60.0 69 50 38.0
Proposals 3 3 12 0.0 -75.0 23 44 -47.7
Alberta 37 49 44 -24.5 -15.9 203 214 -5.1
Bankruptcies 22 42 30 -47.6 -26.7 145 164 -11.6
Proposals 15 7 14 114.3 7.1 58 50 16.0
British Columbia 41 33 35 24.2 17.1 134 116 15.5
Bankruptcies 21 15 25 40.0 -16.0 80 79 1.3
Proposals 20 18 10 11.1 100.0 54 37 45.9
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 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 607 883 974 -31.3 -37.7 3,224 3,718 -13.3
Bankruptcies 451 630 726 -28.4 -37.9 2,348 2,800 -16.1
Proposals 156 253 248 -38.3 -37.1 876 918 -4.6
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 to Q2 2020 Q2 2019 to Q2 2020 06-30-2020 06-30-2019 % Change
Newfoundland and Labrador 1 0 1 n/a 0.0 10 14 -28.6
Bankruptcies 1 0 1 n/a 0.0 7 10 -30.0
Proposals 0 0 0 n/a n/a 3 4 -25.0
Prince Edward Island 1 0 2 n/a -50.0 3 2 50.0
Bankruptcies 0 0 2 n/a -100.0 1 2 -50.0
Proposals 1 0 0 n/a n/a 2 0 n/a
Nova Scotia 0 8 11 -100.0 -100.0 22 30 -26.7
Bankruptcies 0 6 9 -100.0 -100.0 16 24 -33.3
Proposals 0 2 2 -100.0 -100.0 6 6 0.0
New Brunswick 4 3 9 33.3 -55.6 21 26 -19.2
Bankruptcies 3 3 8 0.0 -62.5 15 23 -34.8
Proposals 1 0 1 n/a 0.0 6 3 100.0
Quebec 298 462 503 -35.5 -40.8 1,617 1,890 -14.4
Bankruptcies 240 349 387 -31.2 -38.0 1,242 1,487 -16.5
Proposals 58 113 116 -48.7 -50.0 375 403 -6.9
Ontario 130 115 138 13.0 -5.8 455 560 -18.8
Bankruptcies 106 85 109 24.7 -2.8 340 417 -18.5
Proposals 24 30 29 -20.0 -17.2 115 143 -19.6
Manitoba 5 6 5 -16.7 0.0 19 8 137.5
Bankruptcies 5 1 4 400.0 25.0 13 7 85.7
Proposals 0 5 1 -100.0 -100.0 6 1 500.0
Saskatchewan 2 4 1 -50.0 100.0 12 4 200.0
Bankruptcies 1 4 0 -75.0 n/a 9 2 350.0
Proposals 1 0 1 n/a 0.0 3 2 50.0
Alberta 22 32 18 -31.3 22.2 126 93 35.5
Bankruptcies 13 27 12 -51.9 8.3 94 72 30.6
Proposals 9 5 6 80.0 50.0 32 21 52.4
British Columbia 32 15 14 113.3 128.6 70 50 40.0
Bankruptcies 16 8 9 100.0 77.8 42 28 50.0
Proposals 16 7 5 128.6 220.0 28 22 27.3
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 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 495 645 702 -23.3 -29.5 2,358 2,677 -11.9
Bankruptcies 385 483 541 -20.3 -28.8 1,781 2,072 -14.0
Proposals 110 162 161 -32.1 -31.7 577 605 -4.6
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 to Q2 2020 Q2 2019 to Q2 2020 06-30-2020 06-30-2019 % Change
Newfoundland and Labrador 0 2 10 -100.0 -100.0 13 24 -45.8
Bankruptcies 0 2 10 -100.0 -100.0 10 24 -58.3
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 0 1 3 -100.0 -100.0 4 5 -20.0
Bankruptcies 0 1 3 -100.0 -100.0 4 4 0.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 2 4 10 -50.0 -80.0 18 27 -33.3
Bankruptcies 2 4 9 -50.0 -77.8 18 21 -14.3
Proposals 0 0 1 n/a -100.0 0 6 -100.0
New Brunswick 1 0 4 n/a -75.0 6 17 -64.7
Bankruptcies 0 0 4 n/a -100.0 4 10 -60.0
Proposals 1 0 0 n/a n/a 2 7 -71.4
Quebec 24 64 60 -62.5 -60.0 220 271 -18.8
Bankruptcies 13 36 33 -63.9 -60.6 133 180 -26.1
Proposals 11 28 27 -60.7 -59.3 87 91 -4.4
Ontario 49 107 108 -54.2 -54.6 363 393 -7.6
Bankruptcies 28 60 75 -53.3 -62.7 231 274 -15.7
Proposals 21 47 33 -55.3 -36.4 132 119 10.9
Manitoba 7 3 9 133.3 -22.2 20 27 -25.9
Bankruptcies 6 3 7 100.0 -14.3 17 24 -29.2
Proposals 1 0 2 n/a -50.0 3 3 0.0
Saskatchewan 5 22 21 -77.3 -76.2 80 90 -11.1
Bankruptcies 3 19 10 -84.2 -70.0 60 48 25.0
Proposals 2 3 11 -33.3 -81.8 20 42 -52.4
Alberta 15 17 26 -11.8 -42.3 77 121 -36.4
Bankruptcies 9 15 18 -40.0 -50.0 51 92 -44.6
Proposals 6 2 8 200.0 -25.0 26 29 -10.3
British Columbia 9 18 21 -50.0 -57.1 64 66 -3.0
Bankruptcies 5 7 16 -28.6 -68.8 38 51 -25.5
Proposals 4 11 5 -63.6 -20.0 26 15 73.3
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 112 238 272 -52.9 -58.8 866 1,041 -16.8
Bankruptcies 66 147 185 -55.1 -64.3 567 728 -22.1
Proposals 46 91 87 -49.5 -47.1 299 313 -4.5
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