Insolvency Statistics in Canada—November 2022

Definitions

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.
Bankruptcy and Insolvency Act (BIA)
The federal act that provides the framework to file and administer insolvencies in Canada.
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.
Consumer
An individual with more than 50% of total liabilities related to consumer goods and services.
Corporation
A commercial entity or organization.
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.

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

Table 1: Total BIA Insolvencies

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Newfoundland and Labrador 142 201 149 -29.4 -4.7 1,891 1,777 6.4
Bankruptcies
40 73 47 -45.2 -14.9 665 661 0.6
Proposals
102 128 102 -20.3 0.0 1,226 1,116 9.9
Prince Edward Island 33 34 44 -2.9 -25.0 437 397 10.1
Bankruptcies
12 14 16 -14.3 -25.0 167 176 -5.1
Proposals
21 20 28 5.0 -25.0 270 221 22.2
Nova Scotia 330 294 259 12.2 27.4 3,415 3,071 11.2
Bankruptcies
98 90 95 8.9 3.2 1,221 1,307 -6.6
Proposals
232 204 164 13.7 41.5 2,194 1,764 24.4
New Brunswick 274 274 237 0.0 15.6 3,141 3,064 2.5
Bankruptcies
77 89 82 -13.5 -6.1 1,082 1,291 -16.2
Proposals
197 185 155 6.5 27.1 2,059 1,773 16.1
Quebec 2,637 2,522 2,333 4.6 13.0 27,360 25,313 8.1
Bankruptcies
918 888 1,062 3.4 -13.6 10,531 11,553 -8.8
Proposals
1,719 1,634 1,271 5.2 35.2 16,829 13,760 22.3
Ontario 3,475 3,097 2,805 12.2 23.9 35,232 31,156 13.1
Bankruptcies
708 613 716 15.5 -1.1 7,849 8,194 -4.2
Proposals
2,767 2,484 2,089 11.4 32.5 27,383 22,962 19.3
Manitoba 247 243 240 1.6 2.9 2,753 2,526 9.0
Bankruptcies
68 66 59 3.0 15.3 751 798 -5.9
Proposals
179 177 181 1.1 -1.1 2,002 1,728 15.9
Saskatchewan 260 279 226 -6.8 15.0 3,142 2,789 12.7
Bankruptcies
40 57 63 -29.8 -36.5 680 800 -15.0
Proposals
220 222 163 -0.9 35.0 2,462 1,989 23.8
Alberta 1,402 1,249 1,292 12.2 8.5 14,964 14,129 5.9
Bankruptcies
235 210 246 11.9 -4.5 2,524 2,901 -13.0
Proposals
1,167 1,039 1,046 12.3 11.6 12,440 11,228 10.8
British Columbia 974 916 735 6.3 32.5 10,155 8,760 15.9
Bankruptcies
185 144 169 28.5 9.5 1,921 2,246 -14.5
Proposals
789 772 566 2.2 39.4 8,234 6,514 26.4
Northwest Territories 1 3 4 -66.7 -75.0 63 49 28.6
Bankruptcies
0 0 1 -- -100.0 4 8 -50.0
Proposals
1 3 3 -66.7 -66.7 59 41 43.9
Yukon 5 4 3 25.0 66.7 54 33 63.6
Bankruptcies
0 2 0 -100.0 -- 7 9 -22.2
Proposals
5 2 3 150.0 66.7 47 24 95.8
Nunavut 4 1 3 300.0 33.3 12 15 -20.0
Bankruptcies
0 0 0 -- -- 0 1 -100.0
Proposals
4 1 3 300.0 33.3 12 14 -14.3
Canada 9,784 9,117 8,330 7.3 17.5 102,619 93,079 10.2
Bankruptcies
2,381 2,246 2,556 6.0 -6.8 27,402 29,945 -8.5
Proposals
7,403 6,871 5,774 7.7 28.2 75,217 63,134 19.1

Table 2: BIA Insolvencies Filed by Consumers

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Newfoundland and Labrador 141 201 149 -29.9 -5.4 1,878 1,766 6.3
Bankruptcies
39 73 47 -46.6 -17.0 655 650 0.8
Proposals
102 128 102 -20.3 0.0 1,223 1,116 9.6
Prince Edward Island 33 34 43 -2.9 -23.3 435 394 10.4
Bankruptcies
12 14 15 -14.3 -20.0 165 174 -5.2
Proposals
21 20 28 5.0 -25.0 270 220 22.7
Nova Scotia 328 291 258 12.7 27.1 3,391 3,055 11.0
Bankruptcies
97 87 94 11.5 3.2 1,205 1,294 -6.9
Proposals
231 204 164 13.2 40.9 2,186 1,761 24.1
New Brunswick 270 271 236 -0.4 14.4 3,113 3,049 2.1
Bankruptcies
75 86 81 -12.8 -7.4 1,059 1,282 -17.4
Proposals
195 185 155 5.4 25.8 2,054 1,767 16.2
Quebec 2,428 2,344 2,174 3.6 11.7 25,434 23,815 6.8
Bankruptcies
741 738 935 0.4 -20.7 8,924 10,309 -13.4
Proposals
1,687 1,606 1,239 5.0 36.2 16,510 13,506 22.2
Ontario 3,372 3,019 2,750 11.7 22.6 34,346 30,565 12.4
Bankruptcies
637 556 676 14.6 -5.8 7,210 7,759 -7.1
Proposals
2,735 2,463 2,074 11.0 31.9 27,136 22,806 19.0
Manitoba 243 236 240 3.0 1.3 2,718 2,495 8.9
Bankruptcies
67 63 59 6.3 13.6 734 772 -4.9
Proposals
176 173 181 1.7 -2.8 1,984 1,723 15.1
Saskatchewan 256 277 224 -7.6 14.3 3,087 2,740 12.7
Bankruptcies
38 56 62 -32.1 -38.7 645 763 -15.5
Proposals
218 221 162 -1.4 34.6 2,442 1,977 23.5
Alberta 1,379 1,227 1,287 12.4 7.1 14,737 13,995 5.3
Bankruptcies
220 196 242 12.2 -9.1 2,392 2,816 -15.1
Proposals
1,159 1,031 1,045 12.4 10.9 12,345 11,179 10.4
British Columbia 963 906 731 6.3 31.7 10,013 8,686 15.3
Bankruptcies
180 137 165 31.4 9.1 1,823 2,197 -17.0
Proposals
783 769 566 1.8 38.3 8,190 6,489 26.2
Northwest Territories 1 3 4 -66.7 -75.0 63 49 28.6
Bankruptcies
0 0 1 -- -100.0 4 8 -50.0
Proposals
1 3 3 -66.7 -66.7 59 41 43.9
Yukon 5 4 3 25.0 66.7 54 33 63.6
Bankruptcies
0 2 0 -100.0 -- 7 9 -22.2
Proposals
5 2 3 150.0 66.7 47 24 95.8
Nunavut 4 1 3 300.0 33.3 12 15 -20.0
Bankruptcies
0 0 0 -- -- 0 1 -100.0
Proposals
4 1 3 300.0 33.3 12 14 -14.3
Canada 9,423 8,814 8,102 6.9 16.3 99,281 90,657 9.5
Bankruptcies
2,106 2,008 2,377 4.9 -11.4 24,823 28,034 -11.5
Proposals
7,317 6,806 5,725 7.5 27.8 74,458 62,623 18.9

Table 3: BIA Insolvencies Filed by Businesses

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Newfoundland and Labrador 1 0 0 -- -- 13 11 18.2
Bankruptcies
1 0 0 -- -- 10 11 -9.1
Proposals
0 0 0 -- -- 3 0 --
Prince Edward Island 0 0 1 -- -100.0 2 3 -33.3
Bankruptcies
0 0 1 -- -100.0 2 2 0.0
Proposals
0 0 0 -- -- 0 1 -100.0
Nova Scotia 2 3 1 -33.3 100.0 24 16 50.0
Bankruptcies
1 3 1 -66.7 0.0 16 13 23.1
Proposals
1 0 0 -- -- 8 3 166.7
New Brunswick 4 3 1 33.3 300.0 28 15 86.7
Bankruptcies
2 3 1 -33.3 100.0 23 9 155.6
Proposals
2 0 0 -- -- 5 6 -16.7
Quebec 209 178 159 17.4 31.4 1,926 1,498 28.6
Bankruptcies
177 150 127 18.0 39.4 1,607 1,244 29.2
Proposals
32 28 32 14.3 0.0 319 254 25.6
Ontario 103 78 55 32.1 87.3 886 591 49.9
Bankruptcies
71 57 40 24.6 77.5 639 435 46.9
Proposals
32 21 15 52.4 113.3 247 156 58.3
Manitoba 4 7 0 -42.9 -- 35 31 12.9
Bankruptcies
1 3 0 -66.7 -- 17 26 -34.6
Proposals
3 4 0 -25.0 -- 18 5 260.0
Saskatchewan 4 2 2 100.0 100.0 55 49 12.2
Bankruptcies
2 1 1 100.0 100.0 35 37 -5.4
Proposals
2 1 1 100.0 100.0 20 12 66.7
Alberta 23 22 5 4.5 360.0 227 134 69.4
Bankruptcies
15 14 4 7.1 275.0 132 85 55.3
Proposals
8 8 1 0.0 700.0 95 49 93.9
British Columbia 11 10 4 10.0 175.0 142 74 91.9
Bankruptcies
5 7 4 -28.6 25.0 98 49 100.0
Proposals
6 3 0 100.0 -- 44 25 76.0
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Canada 361 303 228 19.1 58.3 3,338  2,422  37.8
Bankruptcies
275 238 179 15.5 53.6 2,579  1,911  35.0
Proposals
86 65 49 32.3 75.5 759 511 48.5

Table 3a: BIA Insolvencies Filed by Corporations

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Newfoundland and Labrador 0 0 0 -- -- 1 4 -75.0
Bankruptcies
0 0 0 -- -- 0 4 -100.0
Proposals
0 0 0 -- -- 1 0 --
Prince Edward Island 0 0 0 -- -- 1 1 0.0
Bankruptcies
0 0 0 -- -- 1 1 0.0
Proposals
0 0 0 -- -- 0 0 --
Nova Scotia 0 1 1 -100.0 -100.0 10 6 66.7
Bankruptcies
0 1 1 -100.0 -100.0 6 5 20.0
Proposals
0 0 0 -- -- 4 1 300.0
New Brunswick 3 2 1 50.0 200.0 13 9 44.4
Bankruptcies
1 2 1 -50.0 0.0 11 6 83.3
Proposals
2 0 0 -- -- 2 3 -33.3
Quebec 176 161 135 9.3 30.4 1,671 1,312 27.4
Bankruptcies
154 139 115 10.8 33.9 1,459 1,132 28.9
Proposals
22 22 20 0.0 10.0 212 180 17.8
Ontario 66 50 35 32.0 88.6 585 405 44.4
Bankruptcies
57 42 29 35.7 96.6 476 330 44.2
Proposals
9 8 6 12.5 50.0 109 75 45.3
Manitoba 0 2 0 -100.0 -- 14 14 0.0
Bankruptcies
0 0 0 -- -- 7 11 -36.4
Proposals
0 2 0 -100.0 -- 7 3 133.3
Saskatchewan 0 0 0 -- -- 12 18 -33.3
Bankruptcies
0 0 0 -- -- 6 15 -60.0
Proposals
0 0 0 -- -- 6 3 100.0
Alberta 13 13 1 0.0 1200.0 112 77 45.5
Bankruptcies
9 12 1 -25.0 800.0 75 53 41.5
Proposals
4 1 0 300.0 -- 37 24 54.2
British Columbia 2 5 3 -60.0 -33.3 58 38 52.6
Bankruptcies
2 3 3 -33.3 -33.3 42 26 61.5
Proposals
0 2 0 -100.0 -- 16 12 33.3
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Canada 260 234 176 11.1 47.7 2,477 1,884 31.5
Bankruptcies
223 199 150 12.1 48.7 2,083 1,583 31.6
Proposals
37 35 26 5.7 42.3 394 301 30.9

Table 3b: BIA Insolvencies Filed by Individual Businesses

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Newfoundland and Labrador 1 0 0 -- -- 12 7 71.4
Bankruptcies
1 0 0 -- -- 10 7 42.9
Proposals
0 0 0 -- -- 2 0 --
Prince Edward Island 0 0 1 -- -100.0 1 2 -50.0
Bankruptcies
0 0 1 -- -100.0 1 1 0.0
Proposals
0 0 0 -- -- 0 1 -100.0
Nova Scotia 2 2 0 0.0 -- 14 10 40.0
Bankruptcies
1 2 0 -50.0 -- 10 8 25.0
Proposals
1 0 0 -- -- 4 2 100.0
New Brunswick 1 1 0 0.0 -- 15 6 150.0
Bankruptcies
1 1 0 0.0 -- 12 3 300.0
Proposals
0 0 0 -- -- 3 3 0.0
Quebec 33 17 24 94.1 37.5 255 186 37.1
Bankruptcies
23 11 12 109.1 91.7 148 112 32.1
Proposals
10 6 12 66.7 -16.7 107 74 44.6
Ontario 37 28 20 32.1 85.0 301 186 61.8
Bankruptcies
14 15 11 -6.7 27.3 163 105 55.2
Proposals
23 13 9 76.9 155.6 138 81 70.4
Manitoba 4 5 0 -20.0 -- 21 17 23.5
Bankruptcies
1 3 0 -66.7 -- 10 15 -33.3
Proposals
3 2 0 50.0 -- 11 2 450.0
Saskatchewan 4 2 2 100.0 100.0 43 31 38.7
Bankruptcies
2 1 1 100.0 100.0 29 22 31.8
Proposals
2 1 1 100.0 100.0 14 9 55.6
Alberta 10 9 4 11.1 150.0 115 57 101.8
Bankruptcies
6 2 3 200.0 100.0 57 32 78.1
Proposals
4 7 1 -42.9 300.0 58 25 132.0
British Columbia 9 5 1 80.0 800.0 84 36 133.3
Bankruptcies
3 4 1 -25.0 200.0 56 23 143.5
Proposals
6 1 0 500.0 -- 28 13 115.4
Northwest Territories 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies
0 0 0 -- -- 0 0 --
Proposals
0 0 0 -- -- 0 0 --
Canada 101 69 52 46.4 94.2 861 538 60.0
Bankruptcies
52 39 29 33.3 79.3 496 328 51.2
Proposals
49 30 23 63.3 113.0 365 210 73.8

Table 4: BIA Insolvencies by NAICS Sectors

- Volume % Change 12-Month Period Ending
November 2022 October 2022 November 2021 October 2022
to
November 2022
November 2021
to
November 2022
11-30-2022 11-30-2021 % Change
Agriculture, Forestry, Fishing and Hunting 6 3 6 100.0 0.0 74 53 39.6
Bankruptcies
3 2 5 50.0 -40.0 60 44 36.4
Proposals
3 1 1 200.0 200.0 14 9 55.6
Mining and Oil and Gas Extraction 3 1 0 200.0 -- 26 41 -36.6
Bankruptcies
3 1 0 200.0 -- 22 30 -26.7
Proposals
0 0 0 -- -- 4 11 -63.6
Utilities 0 0 1 -- -100.0 5 3 66.7
Bankruptcies
0 0 1 -- -100.0 4 2 100.0
Proposals
0 0 0 -- -- 1 1 0.0
Construction 60 48 35 25.0 71.4 502 350 43.4
Bankruptcies
41 36 24 13.9 70.8 349 269 29.7
Proposals
19 12 11 58.3 72.7 153 81 88.9
Manufacturing 30 30 16 0.0 87.5 258 224 15.2
Bankruptcies
25 20 13 25.0 92.3 193 175 10.3
Proposals
5 10 3 -50.0 66.7 65 49 32.7
Wholesale Trade 22 16 9 37.5 144.4 150 94 59.6
Bankruptcies
15 13 8 15.4 87.5 117 76 53.9
Proposals
7 3 1 133.3 600.0 33 18 83.3
Retail Trade 36 31 22 16.1 63.6 352 250 40.8
Bankruptcies
33 24 16 37.5 106.3 299 196 52.6
Proposals
3 7 6 -57.1 -50.0 53 54 -1.9
Transportation and Warehousing 19 25 15 -24.0 26.7 283 183 54.6
Bankruptcies
15 18 13 -16.7 15.4 216 150 44.0
Proposals
4 7 2 -42.9 100.0 67 33 103.0
Information and Cultural Industries 9 6 6 50.0 50.0 68 41 65.9
Bankruptcies
5 5 6 0.0 -16.7 41 35 17.1
Proposals
4 1 0 300.0 -- 27 6 350.0
Finance and Insurance 3 1 7 200.0 -57.1 37 55 -32.7
Bankruptcies
3 1 4 200.0 -25.0 25 47 -46.8
Proposals
0 0 3 -- -100.0 12 8 50.0
Real Estate and Rental and Leasing 15 9 13 66.7 15.4 122 123 -0.8
Bankruptcies
11 8 11 37.5 0.0 92 98 -6.1
Proposals
4 1 2 300.0 100.0 30 25 20.0
Professional, Scientific and Technical Services 27 25 19 8.0 42.1 245 170 44.1
Bankruptcies
18 19 17 -5.3 5.9 184 141 30.5
Proposals
9 6 2 50.0 350.0 61 29 110.3
Management of Companies and Enterprises 15 14 4 7.1 275.0 83 64 29.7
Bankruptcies
15 13 2 15.4 650.0 73 50 46.0
Proposals
0 1 2 -100.0 -100.0 10 14 -28.6
Administrative and Support, Waste Management and Remediation Services 17 11 11 54.5 54.5 184 138 33.3
Bankruptcies
12 7 8 71.4 50.0 127 102 24.5
Proposals
5 4 3 25.0 66.7 57 36 58.3
Educational Services 8 5 3 60.0 166.7 31 26 19.2
Bankruptcies
7 4 2 75.0 250.0 25 22 13.6
Proposals
1 1 1 0.0 0.0 6 4 50.0
Health Care and Social Assistance 7 7 4 0.0 75.0 100 64 56.3
Bankruptcies
2 6 4 -66.7 -50.0 68 45 51.1
Proposals
5 1 0 400.0 -- 32 19 68.4
Arts, Entertainment and Recreation 7 5 5 40.0 40.0 87 67 29.9
Bankruptcies
5 5 2 0.0 150.0 76 47 61.7
Proposals
2 0 3 -- -33.3 11 20 -45.0
Accommodation and Food Services 56 49 40 14.3 40.0 502 345 45.5
Bankruptcies
44 41 34 7.3 29.4 427 273 56.4
Proposals
12 8 6 50.0 100.0 75 72 4.2
Other Services (except Public Administration) 17 17 10 0.0 70.0 219 126 73.8
Bankruptcies
14 15 7 -6.7 100.0 171 104 64.4
Proposals
3 2 3 50.0 0.0 48 22 118.2
Public Administration 4 0 1 -- 300.0 8 4 100.0
Bankruptcies
4 0 1 -- 300.0 8 4 100.0
Proposals
0 0 0 -- -- 0 0 --
Canada 361 303 227 19.1 59.0 3,336 2,421 37.8
Bankruptcies 275 238 178 15.5 54.5 2,577 1,910 34.9
Proposals 86 65 49 32.3 75.5 759 511 48.5