Insolvency Statistics—November 2023

Tables

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 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Newfoundland and Labrador 204 188 142 8.5 43.7 2,267 1,891 19.9
Bankruptcies
 53 51 40 3.9 32.5 713 665 7.2
Proposals
 151 137 102 10.2 48.0 1,554 1,226 26.8
Prince Edward Island 45 34 33 32.4 36.4 513 437 17.4
Bankruptcies
 7 11 12 -36.4 -41.7 132 167 -21.0
Proposals
 38 23 21 65.2 81.0 381 270 41.1
Nova Scotia 388 368 330 5.4 17.6 4,322 3,415 26.6
Bankruptcies
 97 92 98 5.4 -1.0 1,218 1,221 -0.2
Proposals
 291 276 232 5.4 25.4 3,104 2,194 41.5
New Brunswick 294 293 274 0.3 7.3 3,545 3,141 12.9
Bankruptcies
 66 59 77 11.9 -14.3 875 1,082 -19.1
Proposals
 228 234 197 -2.6 15.7 2,670 2,059 29.7
Quebec 3,281 3,185 2,637 3.0 24.4 32,783 27,360 19.8
Bankruptcies
 1,121 1,045 918 7.3 22.1 11,217 10,531 6.5
Proposals
 2,160 2,140 1,719 0.9 25.7 21,566 16,829 28.1
Ontario 4,328 4,030 3,475 7.4 24.5 44,538 35,232 26.4
Bankruptcies
 880 831 708 5.9 24.3 8,867 7,849 13.0
Proposals
 3,448 3,199 2,767 7.8 24.6 35,671 27,383 30.3
Manitoba 352 319 247 10.3 42.5 3,665 2,753 33.1
Bankruptcies
 90 66 68 36.4 32.4 927 751 23.4
Proposals
 262 253 179 3.6 46.4 2,738 2,002 36.8
Saskatchewan 321 331 260 -3.0 23.5 3,733 3,142 18.8
Bankruptcies
 52 60 40 -13.3 30.0 697 680 2.5
Proposals
 269 271 220 -0.7 22.3 3,036 2,462 23.3
Alberta 1,731 1,623 1,402 6.7 23.5 17,973 14,964 20.1
Bankruptcies
 253 224 235 12.9 7.7 2,709 2,524 7.3
Proposals
 1,478 1,399 1,167 5.6 26.6 15,264 12,440 22.7
British Columbia 1,224 1,206 974 1.5 25.7 12,998 10,155 28.0
Bankruptcies
 212 204 185 3.9 14.6 2,195 1,921 14.3
Proposals
 1,012 1,002 789 1.0 28.3 10,803 8,234 31.2
Northwest Territories 5 4 1 25.0 400.0 62 63 -1.6
Bankruptcies
 0 1 0 -100.0 -- 12 4 200.0
Proposals
 5 3 1 66.7 400.0 50 59 -15.3
Yukon 2 3 5 -33.3 -60.0 41 54 -24.1
Bankruptcies
 0 0 0 -- -- 8 7 14.3
Proposals
 2 3 5 -33.3 -60.0 33 47 -29.8
Nunavut 1 1 4 0.0 -75.0 17 12 41.7
Bankruptcies
 0 0 0 -- -- 2 0 --
Proposals
 1 1 4 0.0 -75.0 15 12 25.0
Canada 12,176 11,585 9,784 5.1 24.4 126,457 102,619 23.2
Bankruptcies
 2,831 2,644 2,381 7.1 18.9 29,572 27,402 7.9
Proposals
 9,345 8,941 7,403 4.5 26.2 96,885 75,217 28.8

Table 2: BIA Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
November 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Newfoundland and Labrador 199 187 141 6.4 41.1 2,239 1,878 19.2
Bankruptcies
 51 50 39 2.0 30.8 697 655 6.4
Proposals
 148 137 102 8.0 45.1 1,542 1,223 26.1
Prince Edward Island 45 34 33 32.4 36.4 510 435 17.2
Bankruptcies
 7 11 12 -36.4 -41.7 130 165 -21.2
Proposals
 38 23 21 65.2 81.0 380 270 40.7
Nova Scotia 384 366 328 4.9 17.1 4,281 3,391 26.2
Bankruptcies
 95 90 97 5.6 -2.1 1,192 1,205 -1.1
Proposals
 289 276 231 4.7 25.1 3,089 2,186 41.3
New Brunswick 292 287 270 1.7 8.1 3,515 3,113 12.9
Bankruptcies
 65 54 75 20.4 -13.3 854 1,059 -19.4
Proposals
 227 233 195 -2.6 16.4 2,661 2,054 29.6
Quebec 3,008 2,877 2,428 4.6 23.9 30,090 25,434 18.3
Bankruptcies
 895 810 741 10.5 20.8 9,072 8,924 1.7
Proposals
 2,113 2,067 1,687 2.2 25.3 21,018 16,510 27.3
Ontario 4,181 3,911 3,372 6.9 24.0 43,325 34,346 26.1
Bankruptcies
 765 733 637 4.4 20.1 7,942 7,210 10.2
Proposals
 3,416 3,178 2,735 7.5 24.9 35,383 27,136 30.4
Manitoba 348 316 243 10.1 43.2 3,623 2,718 33.3
Bankruptcies
 87 63 67 38.1 29.9 897 734 22.2
Proposals
 261 253 176 3.2 48.3 2,726 1,984 37.4
Saskatchewan 313 323 256 -3.1 22.3 3,670 3,087 18.9
Bankruptcies
 46 56 38 -17.9 21.1 662 645 2.6
Proposals
 267 267 218 0.0 22.5 3,008 2,442 23.2
Alberta 1,696 1,596 1,379 6.3 23.0 17,719 14,737 20.2
Bankruptcies
 237 212 220 11.8 7.7 2,571 2,392 7.5
Proposals
 1,459 1,384 1,159 5.4 25.9 15,148 12,345 22.7
British Columbia 1,208 1,187 963 1.8 25.4 12,754 10,013 27.4
Bankruptcies
 199 192 180 3.6 10.6 2,026 1,823 11.1
Proposals
 1,009 995 783 1.4 28.9 10,728 8,190 31.0
Northwest Territories 5 3 1 66.7 400.0 58 63 -7.9
Bankruptcies
 0 0 0 -- -- 10 4 150.0
Proposals
 5 3 1 66.7 400.0 48 59 -18.6
Yukon 2 3 5 -33.3 -60.0 40 54 -25.9
Bankruptcies
 0 0 0 -- -- 7 7 0.0
Proposals
 2 3 5 -33.3 -60.0 33 47 -29.8
Nunavut 1 1 4 0.0 -75.0 17 12 41.7
Bankruptcies
 0 0 0 -- -- 2 0 --
Proposals
 1 1 4 0.0 -75.0 15 12 25.0
Canada 11,682 11,091 9,423 5.3 24.0 121,841 99,281 22.7
Bankruptcies
 2,447 2,271 2,106 7.7 16.2 26,062 24,823 5.0
Proposals
 9,235 8,820 7,317 4.7 26.2 95,779 74,458 28.6

Table 3: BIA Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
November 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Newfoundland and Labrador 5 1 1 400.0 400.0 28 13 115.4
Bankruptcies
 2 1 1 100.0 100.0 16 10 60.0
Proposals
 3 0 0 -- -- 12 3 300.0
Prince Edward Island 0 0 0 -- -- 3 2 50.0
Bankruptcies
 0 0 0 -- -- 2 2 0.0
Proposals
 0 0 0 -- -- 1 0 --
Nova Scotia 4 2 2 100.0 100.0 41 24 70.8
Bankruptcies
 2 2 1 0.0 100.0 26 16 62.5
Proposals
 2 0 1 -- 100.0 15 8 87.5
New Brunswick 2 6 4 -66.7 -50.0 30 28 7.1
Bankruptcies
 1 5 2 -80.0 -50.0 21 23 -8.7
Proposals
 1 1 2 0.0 -50.0 9 5 80.0
Quebec 273 308 209 -11.4 30.6 2,693 1,926 39.8
Bankruptcies
 226 235 177 -3.8 27.7 2,145 1,607 33.5
Proposals
 47 73 32 -35.6 46.9 548 319 71.8
Ontario 147 119 103 23.5 42.7 1,213 886 36.9
Bankruptcies
 115 98 71 17.3 62.0 925 639 44.8
Proposals
 32 21 32 52.4 0.0 288 247 16.6
Manitoba 4 3 4 33.3 0.0 42 35 20.0
Bankruptcies
 3 3 1 0.0 200.0 30 17 76.5
Proposals
 1 0 3 -- -66.7 12 18 -33.3
Saskatchewan 8 8 4 0.0 100.0 63 55 14.5
Bankruptcies
 6 4 2 50.0 200.0 35 35 0.0
Proposals
 2 4 2 -50.0 0.0 28 20 40.0
Alberta 35 27 23 29.6 52.2 254 227 11.9
Bankruptcies
 16 12 15 33.3 6.7 138 132 4.5
Proposals
 19 15 8 26.7 137.5 116 95 22.1
British Columbia 16 19 11 -15.8 45.5 244 142 71.8
Bankruptcies
 13 12 5 8.3 160.0 169 98 72.4
Proposals
 3 7 6 -57.1 -50.0 75 44 70.5
Northwest Territories 0 1 0 -100.0 -- 4 0 --
Bankruptcies
 0 1 0 -100.0 -- 2 0 --
Proposals
 0 0 0 -- -- 2 0 --
Yukon 0 0 0 -- -- 1 0 --
Bankruptcies
 0 0 0 -- -- 1 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 494 494 361 0.0 36.8 4,616 3,338 38.3
Bankruptcies
 384 373 275 2.9 39.6 3,510 2,579 36.1
Proposals
 110 121 86 -9.1 27.9 1,106 759 45.7

Table 3a: BIA Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
November 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Newfoundland and Labrador 1 0 0 -- -- 6 1 500.0
Bankruptcies
 1 0 0 -- -- 2 0 --
Proposals
 0 0 0 -- -- 4 1 300.0
Prince Edward Island 0 0 0 -- -- 2 1 100.0
Bankruptcies
 0 0 0 -- -- 1 1 0.0
Proposals
 0 0 0 -- -- 1 0 --
Nova Scotia 2 2 0 0.0 -- 17 10 70.0
Bankruptcies
 1 2 0 -50.0 -- 12 6 100.0
Proposals
 1 0 0 -- -- 5 4 25.0
New Brunswick 0 4 3 -100.0 -100.0 12 13 -7.7
Bankruptcies
 0 4 1 -100.0 -100.0 12 11 9.1
Proposals
 0 0 2 -- -100.0 0 2 -100.0
Quebec 243 274 176 -11.3 38.1 2,377 1,671 42.3
Bankruptcies
 208 221 154 -5.9 35.1 1,982 1,459 35.8
Proposals
 35 53 22 -34.0 59.1 395 212 86.3
Ontario 97 91 66 6.6 47.0 829 585 41.7
Bankruptcies
 83 84 57 -1.2 45.6 703 476 47.7
Proposals
 14 7 9 100.0 55.6 126 109 15.6
Manitoba 0 1 0 -100.0 -- 7 14 -50.0
Bankruptcies
 0 1 0 -100.0 -- 6 7 -14.3
Proposals
 0 0 0 -- -- 1 7 -85.7
Saskatchewan 0 0 0 -- -- 5 12 -58.3
Bankruptcies
 0 0 0 -- -- 4 6 -33.3
Proposals
 0 0 0 -- -- 1 6 -83.3
Alberta 22 21 13 4.8 69.2 139 112 24.1
Bankruptcies
 12 11 9 9.1 33.3 88 75 17.3
Proposals
 10 10 4 0.0 150.0 51 37 37.8
British Columbia 11 9 2 22.2 450.0 124 58 113.8
Bankruptcies
 10 8 2 25.0 400.0 104 42 147.6
Proposals
 1 1 0 0.0 -- 20 16 25.0
Northwest Territories 0 1 0 -100.0 -- 2 0 --
Bankruptcies
 0 1 0 -100.0 -- 2 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 376 403 260 -6.7 44.6 3,520 2,477 42.1
Bankruptcies
 315 332 223 -5.1 41.3 2,916 2,083 40.0
Proposals
 61 71 37 -14.1 64.9 604 394 53.3

Table 3b: BIA Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
November 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Newfoundland and Labrador 4 1 1 300.0 300.0 22 12 83.3
Bankruptcies
 1 1 1 0.0 0.0 14 10 40.0
Proposals
 3 0 0 -- -- 8 2 300.0
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 2 0 2 -- 0.0 24 14 71.4
Bankruptcies
 1 0 1 -- 0.0 14 10 40.0
Proposals
 1 0 1 -- 0.0 10 4 150.0
New Brunswick 2 2 1 0.0 100.0 18 15 20.0
Bankruptcies
 1 1 1 0.0 0.0 9 12 -25.0
Proposals
 1 1 0 0.0 -- 9 3 200.0
Quebec 30 34 33 -11.8 -9.1 316 255 23.9
Bankruptcies
 18 14 23 28.6 -21.7 163 148 10.1
Proposals
 12 20 10 -40.0 20.0 153 107 43.0
Ontario 50 28 37 78.6 35.1 384 301 27.6
Bankruptcies
 32 14 14 128.6 128.6 222 163 36.2
Proposals
 18 14 23 28.6 -21.7 162 138 17.4
Manitoba 4 2 4 100.0 0.0 35 21 66.7
Bankruptcies
 3 2 1 50.0 200.0 24 10 140.0
Proposals
 1 0 3 -- -66.7 11 11 0.0
Saskatchewan 8 8 4 0.0 100.0 58 43 34.9
Bankruptcies
 6 4 2 50.0 200.0 31 29 6.9
Proposals
 2 4 2 -50.0 0.0 27 14 92.9
Alberta 13 6 10 116.7 30.0 115 115 0.0
Bankruptcies
 4 1 6 300.0 -33.3 50 57 -12.3
Proposals
 9 5 4 80.0 125.0 65 58 12.1
British Columbia 5 10 9 -50.0 -44.4 120 84 42.9
Bankruptcies
 3 4 3 -25.0 0.0 65 56 16.1
Proposals
 2 6 6 -66.7 -66.7 55 28 96.4
Northwest Territories 0 0 0 -- -- 2 0 --
Bankruptcies
 0 0 0 -- -- 0 0 --
Proposals
 0 0 0 -- -- 2 0 --
Yukon 0 0 0 -- -- 1 0 --
Bankruptcies
 0 0 0 -- -- 1 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 118 91 101 29.7 16.8 1,096 861 27.3
Bankruptcies
 69 41 52 68.3 32.7 594 496 19.8
Proposals
 49 50 49 -2.0 0.0 502 365 37.5

Table 4: BIA Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
November 2023 October 2023 November 2022 Oct. 2023
to
Nov. 2023		 Nov. 2022
to
Nov. 2023		 11-30-2023 11-30-2022 % Change
Agriculture, Forestry, Fishing and Hunting 6 3 6 100.0 0.0 82 74 10.8
Bankruptcies
 4 2 3 100.0 33.3 59 60 -1.7
Proposals
 2 1 3 100.0 -33.3 23 14 64.3
Mining and Oil and Gas Extraction 10 0 3 -- 233.3 50 26 92.3
Bankruptcies
 2 0 3 -- -33.3 24 22 9.1
Proposals
 8 0 0 -- -- 26 4 550.0
Utilities 0 2 0 -100.0 -- 10 5 100.0
Bankruptcies
 0 2 0 -100.0 -- 5 4 25.0
Proposals
 0 0 0 -- -- 5 1 400.0
Construction 60 72 60 -16.7 0.0 660 502 31.5
Bankruptcies
 46 58 41 -20.7 12.2 478 349 37.0
Proposals
 14 14 19 0.0 -26.3 182 153 19.0
Manufacturing 47 52 30 -9.6 56.7 389 258 50.8
Bankruptcies
 36 37 25 -2.7 44.0 289 193 49.7
Proposals
 11 15 5 -26.7 120.0 100 65 53.8
Wholesale Trade 33 23 22 43.5 50.0 226 150 50.7
Bankruptcies
 27 16 15 68.8 80.0 182 117 55.6
Proposals
 6 7 7 -14.3 -14.3 44 33 33.3
Retail Trade 56 51 36 9.8 55.6 562 352 59.7
Bankruptcies
 41 46 33 -10.9 24.2 453 299 51.5
Proposals
 15 5 3 200.0 400.0 109 53 105.7
Transportation and Warehousing 37 29 19 27.6 94.7 326 283 15.2
Bankruptcies
 33 19 15 73.7 120.0 246 216 13.9
Proposals
 4 10 4 -60.0 0.0 80 67 19.4
Information and Cultural Industries 12 21 9 -42.9 33.3 91 68 33.8
Bankruptcies
 10 15 5 -33.3 100.0 77 41 87.8
Proposals
 2 6 4 -66.7 -50.0 14 27 -48.1
Finance and Insurance 6 8 3 -25.0 100.0 68 37 83.8
Bankruptcies
 5 7 3 -28.6 66.7 51 25 104.0
Proposals
 1 1 0 0.0 -- 17 12 41.7
Real Estate and Rental and Leasing 17 13 15 30.8 13.3 143 122 17.2
Bankruptcies
 13 5 11 160.0 18.2 101 92 9.8
Proposals
 4 8 4 -50.0 0.0 42 30 40.0
Professional, Scientific and Technical Services 35 33 27 6.1 29.6 348 245 42.0
Bankruptcies
 21 23 18 -8.7 16.7 249 184 35.3
Proposals
 14 10 9 40.0 55.6 99 61 62.3
Management of Companies and Enterprises 14 18 15 -22.2 -6.7 97 83 16.9
Bankruptcies
 12 14 15 -14.3 -20.0 76 73 4.1
Proposals
 2 4 0 -50.0 -- 21 10 110.0
Administrative and Support, Waste Management and Remediation Services 24 27 17 -11.1 41.2 245 184 33.2
Bankruptcies
 20 21 12 -4.8 66.7 165 127 29.9
Proposals
 4 6 5 -33.3 -20.0 80 57 40.4
Educational Services 8 8 8 0.0 0.0 56 31 80.6
Bankruptcies
 6 5 7 20.0 -14.3 42 25 68.0
Proposals
 2 3 1 -33.3 100.0 14 6 133.3
Health Care and Social Assistance 10 12 7 -16.7 42.9 107 100 7.0
Bankruptcies
 9 7 2 28.6 350.0 74 68 8.8
Proposals
 1 5 5 -80.0 -80.0 33 32 3.1
Arts, Entertainment and Recreation 14 13 7 7.7 100.0 119 87 36.8
Bankruptcies
 9 11 5 -18.2 80.0 99 76 30.3
Proposals
 5 2 2 150.0 150.0 20 11 81.8
Accommodation and Food Services 67 71 56 -5.6 19.6 699 502 39.2
Bankruptcies
 59 55 44 7.3 34.1 568 427 33.0
Proposals
 8 16 12 -50.0 -33.3 131 75 74.7
Other Services (except Public Administration) 38 37 17 2.7 123.5 327 219 49.3
Bankruptcies
 31 30 14 3.3 121.4 266 171 55.6
Proposals
 7 7 3 0.0 133.3 61 48 27.1
Public Administration 0 1 4 -100.0 -100.0 8 8 0.0
Bankruptcies
 0 0 4 -- -100.0 3 8 -62.5
Proposals
 0 1 0 -100.0 -- 5 0 --
Canada 494 494 361 0.0 36.8 4,613 3,336 38.3
Bankruptcies
 384 373 275 2.9 39.6 3,507 2,577 36.1
Proposals
 110 121 86 -9.1 27.9 1,106 759 45.7
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