Insolvency Statistics in Canada—April 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
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Newfoundland and Labrador 146 164 197 -11.0 -25.9 1,672 1,795 -6.9

Bankruptcies

63 56 80 12.5 -21.3 608 708 -14.1

Proposals

83 108 117 -23.1 -29.1 1,064 1,087 -2.1
Prince Edward Island 34 44 29 -22.7 17.2 400 385 3.9

Bankruptcies

13 21 10 -38.1 30.0 178 160 11.3

Proposals

21 23 19 -8.7 10.5 222 225 -1.3
Nova Scotia 302 293 295 3.1 2.4 2,915 3,081 -5.4

Bankruptcies

119 107 123 11.2 -3.3 1,184 1,391 -14.9

Proposals

183 186 172 -1.6 6.4 1,731 1,690 2.4
New Brunswick 258 319 306 -19.1 -15.7 2,892 3,116 -7.2

Bankruptcies

103 108 145 -4.6 -29.0 1,124 1,439 -21.9

Proposals

155 211 161 -26.5 -3.7 1,768 1,677 5.4
Quebec 2,160 2,640 2,087 -18.2 3.5 25,190 24,640 2.2

Bankruptcies

847 1,022 985 -17.1 -14.0 10,893 11,584 -6.0

Proposals

1,313 1,618 1,102 -18.9 19.1 14,297 13,056 9.5
Ontario 2,739 3,180 2,704 -13.9 1.3 30,859 31,736 -2.8

Bankruptcies

650 725 777 -10.3 -16.3 7,682 8,587 -10.5

Proposals

2,089 2,455 1,927 -14.9 8.4 23,177 23,149 0.1
Manitoba 219 241 224 -9.1 -2.2 2,495 2,393 4.3

Bankruptcies

77 58 68 32.8 13.2 760 779 -2.4

Proposals

142 183 156 -22.4 -9.0 1,735 1,614 7.5
Saskatchewan 253 313 243 -19.2 4.1 2,775 2,627 5.6

Bankruptcies

53 79 62 -32.9 -14.5 721 829 -13.0

Proposals

200 234 181 -14.5 10.5 2,054 1,798 14.2
Alberta 1,321 1,371 1,317 -3.6 0.3 13,964 12,885 8.4

Bankruptcies

242 233 294 3.9 -17.7 2,587 3,305 -21.7

Proposals

1,079 1,138 1,023 -5.2 5.5 11,377 9,580 18.8
British Columbia 766 939 795 -18.4 -3.6 8,835 8,148 8.4

Bankruptcies

158 169 238 -6.5 -33.6 1,992 2,392 -16.7

Proposals

608 770 557 -21.0 9.2 6,843 5,756 18.9
Northwest Territories 8 6 3 33.3 166.7 67 45 48.9

Bankruptcies

0 0 0 -- -- 8 7 14.3

Proposals

8 6 3 33.3 166.7 59 38 55.3
Yukon 6 3 3 100.0 100.0 39 37 5.4

Bankruptcies

0 2 1 -100.0 -100.0 7 13 -46.2

Proposals

6 1 2 500.0 200.0 32 24 33.3
Nunavut 0 0 1 -- -100.0 10 13 -23.1

Bankruptcies

0 0 0 -- -- 1 1 0.0

Proposals

0 0 1 -- -100.0 9 12 -25.0
Canada 8,212 9,513 8,204 -13.7 0.1 92,113 90,901 1.3

Bankruptcies

2,325 2,580 2,783 -9.9 -16.5 27,745 31,195 -11.1

Proposals

5,887 6,933 5,421 -15.1 8.6 64,368 59,706 7.8
Table 2: BIA Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Newfoundland and Labrador 146 164 197 -11.0 -25.9 1,661 1,785 -6.9

Bankruptcies

63 56 80 12.5 -21.3 598 698 -14.3

Proposals

83 108 117 -23.1 -29.1 1,063 1,087 -2.2
Prince Edward Island 34 44 29 -22.7 17.2 395 385 2.6

Bankruptcies

13 21 10 -38.1 30.0 174 160 8.8

Proposals

21 23 19 -8.7 10.5 221 225 -1.8
Nova Scotia 299 290 295 3.1 1.4 2,894 3,067 -5.6

Bankruptcies

118 105 123 12.4 -4.1 1,173 1,378 -14.9

Proposals

181 185 172 -2.2 5.2 1,721 1,689 1.9
New Brunswick 256 317 304 -19.2 -15.8 2,874 3,092 -7.1

Bankruptcies

102 106 143 -3.8 -28.7 1,109 1,424 -22.1

Proposals

154 211 161 -27.0 -4.3 1,765 1,668 5.8
Quebec 2,002 2,456 1,969 -18.5 1.7 23,537 23,146 1.7

Bankruptcies

714 876 889 -18.5 -19.7 9,530 10,361 -8.0

Proposals

1,288 1,580 1,080 -18.5 19.3 14,007 12,785 9.6
Ontario 2,668 3,089 2,654 -13.6 0.5 30,139 31,074 -3.0

Bankruptcies

602 664 742 -9.3 -18.9 7,168 8,105 -11.6

Proposals

2,066 2,425 1,912 -14.8 8.1 22,971 22,969 0.0
Manitoba 216 237 223 -8.9 -3.1 2,461 2,363 4.1

Bankruptcies

74 56 67 32.1 10.4 734 752 -2.4

Proposals

142 181 156 -21.5 -9.0 1,727 1,611 7.2
Saskatchewan 251 306 241 -18.0 4.1 2,731 2,585 5.6

Bankruptcies

52 74 60 -29.7 -13.3 692 793 -12.7

Proposals

199 232 181 -14.2 9.9 2,039 1,792 13.8
Alberta 1,305 1,354 1,297 -3.6 0.6 13,815 12,732 8.5

Bankruptcies

235 222 285 5.9 -17.5 2,487 3,202 -22.3

Proposals

1,070 1,132 1,012 -5.5 5.7 11,328 9,530 18.9
British Columbia 763 929 788 -17.9 -3.2 8,748 8,036 8.9

Bankruptcies

156 159 235 -1.9 -33.6 1,929 2,313 -16.6

Proposals

607 770 553 -21.2 9.8 6,819 5,723 19.2
Northwest Territories 8 6 3 33.3 166.7 67 45 48.9

Bankruptcies

0 0 0 -- -- 8 7 14.3

Proposals

8 6 3 33.3 166.7 59 38 55.3
Yukon 6 3 3 100.0 100.0 39 37 5.4

Bankruptcies

0 2 1 -100.0 -100.0 7 13 -46.2

Proposals

6 1 2 500.0 200.0 32 24 33.3
Nunavut 0 0 1 -- -100.0 10 12 -16.7

Bankruptcies

0 0 0 -- -- 1 0 --

Proposals

0 0 1 -- -100.0 9 12 -25.0
Canada 7,954 9,195 8,004 -13.5 -0.6 89,371 88,359 1.1

Bankruptcies

2,129 2,341 2,635 -9.1 -19.2 25,610 29,206 -12.3

Proposals

5,825 6,854 5,369 -15.0 8.5 63,761 59,153 7.8
Table 3: BIA Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Newfoundland and Labrador 0 0 0 -- -- 11 10 10.0

Bankruptcies

0 0 0 -- -- 10 10 0.0

Proposals

0 0 0 -- -- 1 0 --
Prince Edward Island 0 0 0 -- -- 5 0 --

Bankruptcies

0 0 0 -- -- 4 0 --

Proposals

0 0 0 -- -- 1 0 --
Nova Scotia 3 3 0 0.0 -- 21 14 50.0

Bankruptcies

1 2 0 -50.0 -- 11 13 -15.4

Proposals

2 1 0 100.0 -- 10 1 900.0
New Brunswick 2 2 2 0.0 0.0 18 24 -25.0

Bankruptcies

1 2 2 -50.0 -50.0 15 15 0.0

Proposals

1 0 0 -- -- 3 9 -66.7
Quebec 158 184 118 -14.1 33.9 1,653 1,494 10.6

Bankruptcies

133 146 96 -8.9 38.5 1,363 1,223 11.4

Proposals

25 38 22 -34.2 13.6 290 271 7.0
Ontario 71 91 50 -22.0 42.0 720 662 8.8

Bankruptcies

48 61 35 -21.3 37.1 514 482 6.6

Proposals

23 30 15 -23.3 53.3 206 180 14.4
Manitoba 3 4 1 -25.0 200.0 34 30 13.3

Bankruptcies

3 2 1 50.0 200.0 26 27 -3.7

Proposals

0 2 0 -100.0 -- 8 3 166.7
Saskatchewan 2 7 2 -71.4 0.0 44 42 4.8

Bankruptcies

1 5 2 -80.0 -50.0 29 36 -19.4

Proposals

1 2 0 -50.0 -- 15 6 150.0
Alberta 16 17 20 -5.9 -20.0 149 153 -2.6

Bankruptcies

7 11 9 -36.4 -22.2 100 103 -2.9

Proposals

9 6 11 50.0 -18.2 49 50 -2.0
British Columbia 3 10 7 -70.0 -57.1 87 112 -22.3

Bankruptcies

2 10 3 -80.0 -33.3 63 79 -20.3

Proposals

1 0 4 -- -75.0 24 33 -27.3
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 1 -100.0

Bankruptcies

0 0 0 -- -- 0 1 -100.0

Proposals

0 0 0 -- -- 0 0 --
Canada 258 318 200 -18.9 29.0 2,742  2,542  7.9

Bankruptcies

196 239 148 -18.0 32.4 2,135  1,989  7.3

Proposals

62 79 52 -21.5 19.2 607 553 9.8
Table 3a: BIA Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Newfoundland and Labrador 0 0 0 -- -- 4 4 0.0

Bankruptcies

0 0 0 -- -- 3 4 -25.0

Proposals

0 0 0 -- -- 1 0 --
Prince Edward Island 0 0 0 -- -- 2 0 --

Bankruptcies

0 0 0 -- -- 2 0 --

Proposals

0 0 0 -- -- 0 0 --
Nova Scotia 1 2 0 -50.0 -- 8 7 14.3

Bankruptcies

1 1 0 0.0 -- 3 7 -57.1

Proposals

0 1 0 -100.0 -- 5 0 --
New Brunswick 1 1 1 0.0 0.0 10 13 -23.1

Bankruptcies

1 1 1 0.0 0.0 9 10 -10.0

Proposals

0 0 0 -- -- 1 3 -66.7
Quebec 139 162 102 -14.2 36.3 1,445 1,315 9.9

Bankruptcies

120 134 88 -10.4 36.4 1,237 1,106 11.8

Proposals

19 28 14 -32.1 35.7 208 209 -0.5
Ontario 54 49 35 10.2 54.3 491 461 6.5

Bankruptcies

38 38 26 0.0 46.2 384 367 4.6

Proposals

16 11 9 45.5 77.8 107 94 13.8
Manitoba 2 1 1 100.0 100.0 17 8 112.5

Bankruptcies

2 1 1 100.0 100.0 13 7 85.7

Proposals

0 0 0 -- -- 4 1 300.0
Saskatchewan 1 1 1 0.0 0.0 9 19 -52.6

Bankruptcies

0 1 1 -100.0 -100.0 5 17 -70.6

Proposals

1 0 0 -- -- 4 2 100.0
Alberta 6 6 15 0.0 -60.0 74 92 -19.6

Bankruptcies

3 6 8 -50.0 -62.5 56 65 -13.8

Proposals

3 0 7 -- -57.1 18 27 -33.3
British Columbia 0 5 3 -100.0 -100.0 40 79 -49.4

Bankruptcies

0 5 1 -100.0 -100.0 31 56 -44.6

Proposals

0 0 2 -- -100.0 9 23 -60.9
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 1 -100.0

Bankruptcies

0 0 0 -- -- 0 1 -100.0

Proposals

0 0 0 -- -- 0 0 --
Canada 204 227 158 -10.1 29.1 2,100 1,999 5.1

Bankruptcies

165 187 126 -11.8 31.0 1,743 1,640 6.3

Proposals

39 40 32 -2.5 21.9 357 359 -0.6
Table 3b: BIA Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Newfoundland and Labrador 0 0 0 -- -- 7 6 16.7

Bankruptcies

0 0 0 -- -- 7 6 16.7

Proposals

0 0 0 -- -- 0 0 --
Prince Edward Island 0 0 0 -- -- 3 0 --

Bankruptcies

0 0 0 -- -- 2 0 --

Proposals

0 0 0 -- -- 1 0 --
Nova Scotia 2 1 0 100.0 -- 13 7 85.7

Bankruptcies

0 1 0 -100.0 -- 8 6 33.3

Proposals

2 0 0 -- -- 5 1 400.0
New Brunswick 1 1 1 0.0 0.0 8 11 -27.3

Bankruptcies

0 1 1 -100.0 -100.0 6 5 20.0

Proposals

1 0 0 -- -- 2 6 -66.7
Quebec 19 22 16 -13.6 18.8 208 179 16.2

Bankruptcies

13 12 8 8.3 62.5 126 117 7.7

Proposals

6 10 8 -40.0 -25.0 82 62 32.3
Ontario 17 42 15 -59.5 13.3 229 201 13.9

Bankruptcies

10 23 9 -56.5 11.1 130 115 13.0

Proposals

7 19 6 -63.2 16.7 99 86 15.1
Manitoba 1 3 0 -66.7 -- 17 22 -22.7

Bankruptcies

1 1 0 0.0 -- 13 20 -35.0

Proposals

0 2 0 -100.0 -- 4 2 100.0
Saskatchewan 1 6 1 -83.3 0.0 35 23 52.2

Bankruptcies

1 4 1 -75.0 0.0 24 19 26.3

Proposals

0 2 0 -100.0 -- 11 4 175.0
Alberta 10 11 5 -9.1 100.0 75 61 23.0

Bankruptcies

4 5 1 -20.0 300.0 44 38 15.8

Proposals

6 6 4 0.0 50.0 31 23 34.8
British Columbia 3 5 4 -40.0 -25.0 47 33 42.4

Bankruptcies

2 5 2 -60.0 0.0 32 23 39.1

Proposals

1 0 2 -- -50.0 15 10 50.0
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 54 91 42 -40.7 28.6 642 543 18.2

Bankruptcies

31 52 22 -40.4 40.9 392 349 12.3

Proposals

23 39 20 -41.0 15.0 250 194 28.9
Table 4: BIA Insolvencies by NAICS Sectors
- Volume % Change 12-Month Period Ending
April 2022 March 2022 March 2021 Mar. 2022
to
Apl. 2022
Mar. 2021
to
Mar. 2022
04-30-2022 04-30-2021 % Change
Agriculture, Forestry, Fishing and Hunting 7 6 6 16.7 16.7 69 62 11.3

Bankruptcies

7 6 4 16.7 75.0 62 50 24.0

Proposals

0 0 2 -- -100.0 7 12 -41.7
Mining and Oil and Gas Extraction 2 1 4 100.0 -50.0 32 48 -33.3

Bankruptcies

1 1 3 0.0 -66.7 26 30 -13.3

Proposals

1 0 1 -- 0.0 6 18 -66.7
Utilities 1 0 0 -- -- 4 4 0.0

Bankruptcies

1 0 0 -- -- 3 4 -25.0

Proposals

0 0 0 -- -- 1 0 --
Construction 45 57 18 -21.1 150.0 416 294 41.5

Bankruptcies

32 40 13 -20.0 146.2 304 237 28.3

Proposals

13 17 5 -23.5 160.0 112 57 96.5
Manufacturing 21 22 21 -4.5 0.0 220 226 -2.7

Bankruptcies

16 17 13 -5.9 23.1 172 171 0.6

Proposals

5 5 8 0.0 -37.5 48 55 -12.7
Wholesale Trade 9 16 8 -43.8 12.5 111 126 -11.9

Bankruptcies

9 13 6 -30.8 50.0 93 98 -5.1

Proposals

0 3 2 -100.0 -100.0 18 28 -35.7
Retail Trade 21 25 19 -16.0 10.5 277 306 -9.5

Bankruptcies

19 21 16 -9.5 18.8 228 230 -0.9

Proposals

2 4 3 -50.0 -33.3 49 76 -35.5
Transportation and Warehousing 18 34 15 -47.1 20.0 233 153 52.3

Bankruptcies

12 26 14 -53.8 -14.3 181 122 48.4

Proposals

6 8 1 -25.0 500.0 52 31 67.7
Information and Cultural Industries 7 6 3 16.7 133.3 57 38 50.0

Bankruptcies

4 4 3 0.0 33.3 35 30 16.7

Proposals

3 2 0 50.0 -- 22 8 175.0
Finance and Insurance 5 4 6 25.0 -16.7 37 51 -27.5

Bankruptcies

2 2 4 0.0 -50.0 26 42 -38.1

Proposals

3 2 2 50.0 50.0 11 9 22.2
Real Estate and Rental and Leasing 8 9 12 -11.1 -33.3 101 141 -28.4

Bankruptcies

3 6 8 -50.0 -62.5 65 109 -40.4

Proposals

5 3 4 66.7 25.0 36 32 12.5
Professional, Scientific and Technical Services 19 27 17 -29.6 11.8 205 154 33.1

Bankruptcies

15 20 12 -25.0 25.0 166 126 31.7

Proposals

4 7 5 -42.9 -20.0 39 28 39.3
Management of Companies and Enterprises 3 9 7 -66.7 -57.1 70 82 -14.6

Bankruptcies

3 9 6 -66.7 -50.0 55 65 -15.4

Proposals

0 0 1 -- -100.0 15 17 -11.8
Administrative and Support, Waste Management and Remediation Services 12 21 12 -42.9 0.0 169 124 36.3

Bankruptcies

10 13 10 -23.1 0.0 123 94 30.9

Proposals

2 8 2 -75.0 0.0 46 30 53.3
Educational Services 2 3 0 -33.3 -- 28 38 -26.3

Bankruptcies

2 3 0 -33.3 -- 23 31 -25.8

Proposals

0 0 0 -- -- 5 7 -28.6
Health Care and Social Assistance 3 7 7 -57.1 -57.1 70 75 -6.7

Bankruptcies

2 4 6 -50.0 -66.7 51 58 -12.1

Proposals

1 3 1 -66.7 0.0 19 17 11.8
Arts, Entertainment and Recreation 8 5 9 60.0 -11.1 75 104 -27.9

Bankruptcies

5 5 4 0.0 25.0 60 78 -23.1

Proposals

3 0 5 -- -40.0 15 26 -42.3
Accommodation and Food Services 40 42 27 -4.8 48.1 397 386 2.8

Bankruptcies

32 32 18 0.0 77.8 327 308 6.2

Proposals

8 10 9 -20.0 -11.1 70 78 -10.3
Other Services (except Public Administration) 25 24 7 4.2 257.1 166 125 32.8

Bankruptcies

19 17 6 11.8 216.7 130 102 27.5

Proposals

6 7 1 -14.3 500.0 36 23 56.5
Public Administration 1 0 2 -- -50.0 3 5 -40.0

Bankruptcies

1 0 2 -- -50.0 3 4 -25.0

Proposals

0 0 0 -- -- 0 1 -100.0
Canada 257 318 200 -19.2 28.5 2,740 2,542 7.8
Bankruptcies 195 239 148 -18.4 31.8 2,133 1,989 7.2
Proposals 62 79 52 -21.5 19.2 607 553 9.8