Insolvency Statistics in Canada—April 2021

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.
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 Insolvencies
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Newfoundland and Labrador 197 175 116 12.6 69.8 1,795 2,887 -37.8
Bankruptcies 80 69 51 15.9 56.9 708 1,329 -46.7
Proposals 117 106 65 10.4 80.0 1,087 1,558 -30.2
Prince Edward Island 29 43 37 -32.6 -21.6 385 695 -44.6
Bankruptcies 10 16 16 -37.5 -37.5 160 360 -55.6
Proposals 19 27 21 -29.6 -9.5 225 335 -32.8
Nova Scotia 295 304 274 -3.0 7.7 3,081 5,745 -46.4
Bankruptcies 123 133 112 -7.5 9.8 1,391 2,863 -51.4
Proposals 172 171 162 0.6 6.2 1,690 2,882 -41.4
New Brunswick 306 328 232 -6.7 31.9 3,116 4,750 -34.4
Bankruptcies 145 153 102 -5.2 42.2 1,439 2,190 -34.3
Proposals 161 175 130 -8.0 23.8 1,677 2,560 -34.5
Quebec 2,087 2,644 1,667 -21.1 25.2 24,640 42,397 -41.9
Bankruptcies 985 1,167 748 -15.6 31.7 11,584 19,812 -41.5
Proposals 1,102 1,477 919 -25.4 19.9 13,056 22,585 -42.2
Ontario 2,704 3,127 2,471 -13.5 9.4 31,736 45,327 -30.0
Bankruptcies 777 782 674 -0.6 15.3 8,587 14,385 -40.3
Proposals 1,927 2,345 1,797 -17.8 7.2 23,149 30,942 -25.2
Manitoba 224 226 211 -0.9 6.2 2,393 3,194 -25.1
Bankruptcies 68 75 61 -9.3 11.5 779 1,223 -36.3
Proposals 156 151 150 3.3 4.0 1,614 1,971 -18.1
Saskatchewan 243 303 196 -19.8 24.0 2,627 3,486 -24.6
Bankruptcies 62 108 59 -42.6 5.1 829 1,325 -37.4
Proposals 181 195 137 -7.2 32.1 1,798 2,161 -16.8
Alberta 1,317 1,438 1,000 -8.4 31.7 12,885 16,795 -23.3
Bankruptcies 294 319 266 -7.8 10.5 3,305 5,305 -37.7
Proposals 1,023 1,119 734 -8.6 39.4 9,580 11,490 -16.6
British Columbia 795 870 650 -8.6 22.3 8,148 11,093 -26.5
Bankruptcies 238 250 200 -4.8 19.0 2,392 4,033 -40.7
Proposals 557 620 450 -10.2 23.8 5,756 7,060 -18.5
Northwest Territories 3 3 2 0.0 50.0 45 61 -26.2
Bankruptcies 0 1 0 -100.0 -- 7 12 -41.7
Proposals 3 2 2 50.0 50.0 38 49 -22.4
Yukon 3 1 5 200.0 -40.0 37 36 2.8
Bankruptcies 1 0 0 -- -- 13 13 0.0
Proposals 2 1 5 100.0 -60.0 24 23 4.3
Nunavut 1 1 3 0.0 -66.7 13 7 85.7
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 1 1 3 0.0 -66.7 12 5 140.0
Canada 8,204 9,463 6,864 -13.3 19.5 90,901 136,473 -33.4
Bankruptcies 2,783 3,073 2,289 -9.4 21.6 31,195 52,852 -41.0
Proposals 5,421 6,390 4,575 -15.2 18.5 59,706 83,621 -28.6
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Newfoundland and Labrador 197 174 116 13.2 69.8 1,785 2,857 -37.5
Bankruptcies 80 68 51 17.6 56.9 698 1,305 -46.5
Proposals 117 106 65 10.4 80.0 1,087 1,552 -30.0
Prince Edward Island 29 43 36 -32.6 -19.4 385 686 -43.9
Bankruptcies 10 16 16 -37.5 -37.5 160 353 -54.7
Proposals 19 27 20 -29.6 -5.0 225 333 -32.4
Nova Scotia 295 301 274 -2.0 7.7 3,067 5,695 -46.1
Bankruptcies 123 130 112 -5.4 9.8 1,378 2,822 -51.2
Proposals 172 171 162 0.6 6.2 1,689 2,873 -41.2
New Brunswick 304 328 232 -7.3 31.0 3,092 4,717 -34.4
Bankruptcies 143 153 102 -6.5 40.2 1,424 2,164 -34.2
Proposals 161 175 130 -8.0 23.8 1,668 2,553 -34.7
Quebec 1,969 2,485 1,587 -20.8 24.1 23,146 40,458 -42.8
Bankruptcies 889 1,039 690 -14.4 28.8 10,361 18,377 -43.6
Proposals 1,080 1,446 897 -25.3 20.4 12,785 22,081 -42.1
Ontario 2,654 3,090 2,416 -14.1 9.9 31,074 44,480 -30.1
Bankruptcies 742 757 637 -2.0 16.5 8,105 13,798 -41.3
Proposals 1,912 2,333 1,779 -18.0 7.5 22,969 30,682 -25.1
Manitoba 223 223 206 0.0 8.3 2,363 3,155 -25.1
Bankruptcies 67 72 57 -6.9 17.5 752 1,194 -37.0
Proposals 156 151 149 3.3 4.7 1,611 1,961 -17.8
Saskatchewan 241 292 195 -17.5 23.6 2,585 3,382 -23.6
Bankruptcies 60 98 59 -38.8 1.7 793 1,252 -36.7
Proposals 181 194 136 -6.7 33.1 1,792 2,130 -15.9
Alberta 1,297 1,421 990 -8.7 31.0 12,732 16,585 -23.2
Bankruptcies 285 307 260 -7.2 9.6 3,202 5,153 -37.9
Proposals 1,012 1,114 730 -9.2 38.6 9,530 11,432 -16.6
British Columbia 788 862 638 -8.6 23.5 8,036 10,966 -26.7
Bankruptcies 235 247 197 -4.9 19.3 2,313 3,957 -41.5
Proposals 553 615 441 -10.1 25.4 5,723 7,009 -18.3
Northwest Territories 3 3 2 0.0 50.0 45 59 -23.7
Bankruptcies 0 1 0 -100.0 -- 7 11 -36.4
Proposals 3 2 2 50.0 50.0 38 48 -20.8
Yukon 3 1 5 200.0 -40.0 37 36 2.8
Bankruptcies 1 0 0 -- -- 13 13 0.0
Proposals 2 1 5 100.0 -60.0 24 23 4.3
Nunavut 1 1 3 0.0 -66.7 12 5 140.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 1 1 3 0.0 -66.7 12 5 140.0
Canada 8,004 9,224 6,700 -13.2 19.5 88,359 133,081 -33.6
Bankruptcies 2,635 2,888 2,181 -8.8 20.8 29,206 50,399 -42.1
Proposals 5,369 6,336 4,519 -15.3 18.8 59,153 82,682 -28.5
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Newfoundland and Labrador 0 1 0 -100.0 -- 10 30 -66.7
Bankruptcies 0 1 0 -100.0 -- 10 24 -58.3
Proposals 0 0 0 -- -- 0 6 -100.0
Prince Edward Island 0 0 1 -- -100.0 0 9 -100.0
Bankruptcies 0 0 0 -- -- 0 7 -100.0
Proposals 0 0 1 -- -100.0 0 2 -100.0
Nova Scotia 0 3 0 -100.0 -- 14 50 -72.0
Bankruptcies 0 3 0 -100.0 -- 13 41 -68.3
Proposals 0 0 0 -- -- 1 9 -88.9
New Brunswick 2 0 0 -- -- 24 33 -27.3
Bankruptcies 2 0 0 -- -- 15 26 -42.3
Proposals 0 0 0 -- -- 9 7 28.6
Quebec 118 159 80 -25.8 47.5 1,494 1,939 -22.9
Bankruptcies 96 128 58 -25.0 65.5 1,223 1,435 -14.8
Proposals 22 31 22 -29.0 0.0 271 504 -46.2
Ontario 50 37 55 35.1 -9.1 662 847 -21.8
Bankruptcies 35 25 37 40.0 -5.4 482 587 -17.9
Proposals 15 12 18 25.0 -16.7 180 260 -30.8
Manitoba 1 3 5 -66.7 -80.0 30 39 -23.1
Bankruptcies 1 3 4 -66.7 -75.0 27 29 -6.9
Proposals 0 0 1 -- -100.0 3 10 -70.0
Saskatchewan 2 11 1 -81.8 100.0 42 104 -59.6
Bankruptcies 2 10 0 -80.0 -- 36 73 -50.7
Proposals 0 1 1 -100.0 -100.0 6 31 -80.6
Alberta 20 17 10 17.6 100.0 153 210 -27.1
Bankruptcies 9 12 6 -25.0 50.0 103 152 -32.2
Proposals 11 5 4 120.0 175.0 50 58 -13.8
British Columbia 7 8 12 -12.5 -41.7 112 127 -11.8
Bankruptcies 3 3 3 0.0 0.0 79 76 3.9
Proposals 4 5 9 -20.0 -55.6 33 51 -35.3
Northwest Territories 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 200 239 164 -16.3 22.0 2,542 3,392 -25.1
Bankruptcies 148 185 108 -20.0 37.0 1,989 2,453 -18.9
Proposals 52 54 56 -3.7 -7.1 553 939 -41.1
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Newfoundland and Labrador 0 0 0 -- -- 4 9 -55.6
Bankruptcies 0 0 0 -- -- 4 6 -33.3
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 1 -- -100.0 0 3 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 1 -- -100.0 0 2 -100.0
Nova Scotia 0 1 0 -100.0 -- 7 28 -75.0
Bankruptcies 0 1 0 -100.0 -- 7 20 -65.0
Proposals 0 0 0 -- -- 0 8 -100.0
New Brunswick 1 0 0 -- -- 13 25 -48.0
Bankruptcies 1 0 0 -- -- 10 19 -47.4
Proposals 0 0 0 -- -- 3 6 -50.0
Quebec 102 142 71 -28.2 43.7 1,315 1,698 -22.6
Bankruptcies 88 119 55 -26.1 60.0 1,106 1,290 -14.3
Proposals 14 23 16 -39.1 -12.5 209 408 -48.8
Ontario 35 26 39 34.6 -10.3 461 447 3.1
Bankruptcies 26 19 27 36.8 -3.7 367 326 12.6
Proposals 9 7 12 28.6 -25.0 94 121 -22.3
Manitoba 1 1 3 0.0 -66.7 8 22 -63.6
Bankruptcies 1 1 3 0.0 -66.7 7 15 -53.3
Proposals 0 0 0 -- -- 1 7 -85.7
Saskatchewan 1 9 0 -88.9 -- 19 11 72.7
Bankruptcies 1 9 0 -88.9 -- 17 8 112.5
Proposals 0 0 0 -- -- 2 3 -33.3
Alberta 15 9 5 66.7 200.0 92 123 -25.2
Bankruptcies 8 7 4 14.3 100.0 65 93 -30.1
Proposals 7 2 1 250.0 600.0 27 30 -10.0
British Columbia 3 4 9 -25.0 -66.7 79 58 36.2
Bankruptcies 1 2 1 -50.0 0.0 56 34 64.7
Proposals 2 2 8 0.0 -75.0 23 24 -4.2
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 158 192 128 -17.7 23.4 1,999 2,427 -17.6
Bankruptcies 126 158 90 -20.3 40.0 1,640 1,814 -9.6
Proposals 32 34 38 -5.9 -15.8 359 613 -41.4
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Newfoundland and Labrador 0 1 0 -100.0 -- 6 21 -71.4
Bankruptcies 0 1 0 -100.0 -- 6 18 -66.7
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 0 -- -- 0 6 -100.0
Bankruptcies 0 0 0 -- -- 0 6 -100.0
Proposals 0 0 0 -- -- 0 0 --
Nova Scotia 0 2 0 -100.0 -- 7 22 -68.2
Bankruptcies 0 2 0 -100.0 -- 6 21 -71.4
Proposals 0 0 0 -- -- 1 1 0.0
New Brunswick 1 0 0 -- -- 11 8 37.5
Bankruptcies 1 0 0 -- -- 5 7 -28.6
Proposals 0 0 0 -- -- 6 1 500.0
Quebec 16 17 9 -5.9 77.8 179 241 -25.7
Bankruptcies 8 9 3 -11.1 166.7 117 145 -19.3
Proposals 8 8 6 0.0 33.3 62 96 -35.4
Ontario 15 11 16 36.4 -6.3 201 400 -49.8
Bankruptcies 9 6 10 50.0 -10.0 115 261 -55.9
Proposals 6 5 6 20.0 0.0 86 139 -38.1
Manitoba 0 2 2 -100.0 -100.0 22 17 29.4
Bankruptcies 0 2 1 -100.0 -100.0 20 14 42.9
Proposals 0 0 1 -- -100.0 2 3 -33.3
Saskatchewan 1 2 1 -50.0 0.0 23 93 -75.3
Bankruptcies 1 1 0 0.0 -- 19 65 -70.8
Proposals 0 1 1 -100.0 -100.0 4 28 -85.7
Alberta 5 8 5 -37.5 0.0 61 87 -29.9
Bankruptcies 1 5 2 -80.0 -50.0 38 59 -35.6
Proposals 4 3 3 33.3 33.3 23 28 -17.9
British Columbia 4 4 3 0.0 33.3 33 69 -52.2
Bankruptcies 2 1 2 100.0 0.0 23 42 -45.2
Proposals 2 3 1 -33.3 100.0 10 27 -63.0
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
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 42 47 36 -10.6 16.7 543 965 -43.7
Bankruptcies 22 27 18 -18.5 22.2 349 639 -45.4
Proposals 20 20 18 0.0 11.1 194 326 -40.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
April 2021 March 2021 April 2020 Mar. 2021 to Apr. 2021 Apr. 2020 to Apr. 2021 04-30-2021 04-30-2020 % Change
Agriculture, Forestry, Fishing and Hunting 6 7 1 -14.3 500.0 62 56 10.7
Bankruptcies 4 6 0 -33.3 -- 50 35 42.9
Proposals 2 1 1 100.0 100.0 12 21 -42.9
Mining and Oil and Gas Extraction 4 5 0 -20.0 -- 48 32 50.0
Bankruptcies 3 3 0 0.0 -- 30 21 42.9
Proposals 1 2 0 -50.0 -- 18 11 63.6
Utilities 0 1 0 -100.0 -- 4 9 -55.6
Bankruptcies 0 1 0 -100.0 -- 4 6 -33.3
Proposals 0 0 0 -- -- 0 3 -100.0
Construction 18 39 23 -53.8 -21.7 294 599 -50.9
Bankruptcies 13 28 12 -53.6 8.3 237 416 -43.0
Proposals 5 11 11 -54.5 -54.5 57 183 -68.9
Manufacturing 21 28 15 -25.0 40.0 226 323 -30.0
Bankruptcies 13 27 12 -51.9 8.3 171 225 -24.0
Proposals 8 1 3 700.0 166.7 55 98 -43.9
Wholesale Trade 8 8 6 0.0 33.3 126 168 -25.0
Bankruptcies 6 4 5 50.0 20.0 98 120 -18.3
Proposals 2 4 1 -50.0 100.0 28 48 -41.7
Retail Trade 19 32 26 -40.6 -26.9 306 400 -23.5
Bankruptcies 16 25 16 -36.0 0.0 230 293 -21.5
Proposals 3 7 10 -57.1 -70.0 76 107 -29.0
Transportation and Warehousing 15 19 4 -21.1 275.0 153 202 -24.3
Bankruptcies 14 15 3 -6.7 366.7 122 148 -17.6
Proposals 1 4 1 -75.0 0.0 31 54 -42.6
Information and Cultural Industries 3 3 3 0.0 0.0 38 71 -46.5
Bankruptcies 3 3 1 0.0 200.0 30 52 -42.3
Proposals 0 0 2 -- -100.0 8 19 -57.9
Finance and Insurance 6 5 3 20.0 100.0 51 48 6.3
Bankruptcies 4 4 0 0.0 -- 42 38 10.5
Proposals 2 1 3 100.0 -33.3 9 10 -10.0
Real Estate and Rental and Leasing 12 12 13 0.0 -7.7 141 145 -2.8
Bankruptcies 8 11 9 -27.3 -11.1 109 98 11.2
Proposals 4 1 4 300.0 0.0 32 47 -31.9
Professional, Scientific and Technical Services 17 5 11 240.0 54.5 154 252 -38.9
Bankruptcies 12 3 8 300.0 50.0 126 193 -34.7
Proposals 5 2 3 150.0 66.7 28 59 -52.5
Management of Companies and Enterprises 7 4 8 75.0 -12.5 82 87 -5.7
Bankruptcies 6 4 4 50.0 50.0 65 63 3.2
Proposals 1 0 4 -- -75.0 17 24 -29.2
Administrative and Support, Waste Management and Remediation Services 12 13 9 -7.7 33.3 124 161 -23.0
Bankruptcies 10 7 5 42.9 100.0 94 108 -13.0
Proposals 2 6 4 -66.7 -50.0 30 53 -43.4
Educational Services 0 3 0 -100.0 -- 38 29 31.0
Bankruptcies 0 2 0 -100.0 -- 31 22 40.9
Proposals 0 1 0 -100.0 -- 7 7 0.0
Health Care and Social Assistance 7 5 2 40.0 250.0 75 72 4.2
Bankruptcies 6 3 2 100.0 200.0 58 45 28.9
Proposals 1 2 0 -50.0 -- 17 27 -37.0
Arts, Entertainment and Recreation 9 4 9 125.0 0.0 104 89 16.9
Bankruptcies 4 3 8 33.3 -50.0 78 71 9.9
Proposals 5 1 1 400.0 400.0 26 18 44.4
Accommodation and Food Services 27 33 18 -18.2 50.0 386 455 -15.2
Bankruptcies 18 26 15 -30.8 20.0 308 354 -13.0
Proposals 9 7 3 28.6 200.0 78 101 -22.8
Other Services (except Public Administration) 7 13 13 -46.2 -46.2 125 194 -35.6
Bankruptcies 6 10 8 -40.0 -25.0 102 145 -29.7
Proposals 1 3 5 -66.7 -80.0 23 49 -53.1
Public Administration 2 0 0 -- -- 5 0 --
Bankruptcies 2 0 0 -- -- 4 0 --
Proposals 0 0 0 -- -- 1 0 --
Canada 200 239 164 -16.3 22.0 2,542 3,392 -25.1
Bankruptcies 148 185 108 -20.0 37.0 1,989 2,453 -18.9
Proposals 52 54 56 -3.7 -7.1 553 939 -41.1