Insolvency Statistics in Canada—August 2019

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Note:

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

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.

Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Newfoundland and Labrador268280241-4.311.23,1682,78313.8
Bankruptcies113139120-18.7-5.81,4831,4035.7
Proposals1551411219.928.11,6851,38022.1
Prince Edward Island6664623.16.57417271.9
Bankruptcies313931-20.50.0396425-6.8
Proposals35253140.012.934530214.2
Nova Scotia5284954876.78.45,8795,6324.4
Bankruptcies29625429716.5-0.33,3913,559-4.7
Proposals232241190-3.722.12,4882,07320.0
New Brunswick401426414-5.9-3.14,8194,3989.6
Bankruptcies2082062001.04.02,3952,2675.6
Proposals193220214-12.3-9.82,4242,13113.7
Quebec3,5483,5583,612-0.3-1.844,11543,7720.8
Bankruptcies1,7131,7341,928-1.2-11.221,80923,163-5.8
Proposals1,8351,8241,6840.69.022,30620,6098.2
Ontario3,8163,9753,294-4.015.843,33839,14410.7
Bankruptcies1,2771,3091,248-2.42.315,15715,578-2.7
Proposals2,5392,6662,046-4.824.128,18123,56619.6
Manitoba255265239-3.86.73,0972,76112.2
Bankruptcies105127108-17.3-2.81,4391,4181.5
Proposals1501381318.714.51,6581,34323.5
Saskatchewan276297310-7.1-11.03,4703,4151.6
Bankruptcies1031011262.0-18.31,3251,364-2.9
Proposals173196184-11.7-6.02,1452,0514.6
Alberta1,4151,4351,258-1.412.516,11314,23113.2
Bankruptcies472496446-4.85.85,4975,1037.7
Proposals9439398120.416.110,6169,12816.3
British Columbia9411,020832-7.713.110,90610,0248.8
Bankruptcies349394337-11.43.64,1344,1170.4
Proposals592626495-5.419.66,7725,90714.6
Northwest Territories788-12.5-12.565106-38.7
Bankruptcies123-50.0-66.72060-66.7
Proposals6650.020.04546-2.2
Yukon2210.0100.03337-10.8
Bankruptcies1100.0n/a1213-7.7
Proposals1110.00.02124-12.5
Nunavut000n/an/a56-16.7
Bankruptcies000n/an/a02-100.0
Proposals000n/an/a5425.0
Canada11,52311,82510,758-2.67.1135,749127,0366.9
Bankruptcies4,6694,8024,844-2.8-3.657,05858,472-2.4
Proposals6,8547,0235,914-2.415.978,69168,56414.8
Table 2: Insolvencies Filed by Consumers
Volume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Newfoundland and Labrador261277240-5.88.73,1222,76213.0
Bankruptcies106137119-22.6-10.91,4411,3883.8
Proposals15514012110.728.11,6811,37422.3
Prince Edward Island6664613.18.27357231.7
Bankruptcies313931-20.50.0390422-7.6
Proposals35253040.016.734530114.6
Nova Scotia5274884798.010.05,8255,5854.3
Bankruptcies29524929318.50.73,3463,525-5.1
Proposals232239186-2.924.72,4792,06020.3
New Brunswick400417412-4.1-2.94,7694,3559.5
Bankruptcies2082011993.54.52,3592,2345.6
Proposals192216213-11.1-9.92,4102,12113.6
Quebec3,4203,3793,4541.2-1.041,94841,7100.6
Bankruptcies1,6201,5931,8031.7-10.120,14321,615-6.8
Proposals1,8001,7861,6510.89.021,80520,0958.5
Ontario3,7483,8963,226-3.816.242,38238,24410.8
Bankruptcies1,2271,2551,202-2.22.114,46214,922-3.1
Proposals2,5212,6412,024-4.524.627,92023,32219.7
Manitoba251263237-4.65.93,0612,73112.1
Bankruptcies101126107-19.8-5.61,4071,3931.0
Proposals1501371309.515.41,6541,33823.6
Saskatchewan272288304-5.6-10.53,3753,3062.1
Bankruptcies99951244.2-20.21,2681,290-1.7
Proposals173193180-10.4-3.92,1072,0164.5
Alberta1,3981,4061,233-0.613.415,89414,03213.3
Bankruptcies459476423-3.68.55,3364,9557.7
Proposals9399308101.015.910,5589,07716.3
British Columbia9321,001824-6.913.110,7799,9118.8
Bankruptcies344378331-9.03.94,0464,0340.3
Proposals588623493-5.619.36,7335,87714.6
Northwest Territories788-12.5-12.565106-38.7
Bankruptcies123-50.0-66.72060-66.7
Proposals6650.020.04546-2.2
Yukon2210.0100.03337-10.8
Bankruptcies1100.0n/a1213-7.7
Proposals1110.00.02124-12.5
Nunavut000n/an/a56-16.7
Bankruptcies000n/an/a02-100.0
Proposals000n/an/a5425.0
Canada11,28411,48910,479-1.87.7131,993123,5086.9
Bankruptcies4,4924,5524,635-1.3-3.154,23055,853-2.9
Proposals6,7926,9375,844-2.116.277,76367,65514.9
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Newfoundland and Labrador731133.3600.04621119.0
Bankruptcies721250.0600.04215180.0
Proposals010-100.0n/a46-33.3
Prince Edward Island001n/a-100.06450.0
Bankruptcies000n/an/a63100.0
Proposals001n/a-100.001-100.0
Nova Scotia178-85.7-87.5544714.9
Bankruptcies154-80.0-75.0453432.4
Proposals024-100.0-100.0913-30.8
New Brunswick192-88.9-50.0504316.3
Bankruptcies051-100.0-100.036339.1
Proposals141-75.00.0141040.0
Quebec128179158-28.5-19.02,1672,0625.1
Bankruptcies93141125-34.0-25.61,6661,5487.6
Proposals353833-7.96.1501514-2.5
Ontario687968-13.90.09569006.2
Bankruptcies505446-7.48.76956565.9
Proposals182522-28.0-18.22612447.0
Manitoba422100.0100.0363020.0
Bankruptcies411300.0300.0322528.0
Proposals011-100.0-100.045-20.0
Saskatchewan496-55.6-33.395109-12.8
Bankruptcies462-33.3100.05774-23.0
Proposals034-100.0-100.038358.6
Alberta172925-41.4-32.021919910.1
Bankruptcies132023-35.0-43.51611488.8
Proposals492-55.6100.0585113.7
British Columbia9198-52.612.512711312.4
Bankruptcies5166-68.8-16.788836.0
Proposals43233.3100.0393030.0
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada239336279-28.9-14.33,7563,5286.5
Bankruptcies177250209-29.2-15.32,8282,6198.0
Proposals628670-27.9-11.49289092.1
Table 3a: Insolvencies Filed by Corporations
ProvinceVolume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Newfoundland and Labrador32050.0n/a181163.6
Bankruptcies310200.0n/a145180.0
Proposals010-100.0n/a46-33.3
Prince Edward Island000n/an/a21100.0
Bankruptcies000n/an/a21100.0
Proposals000n/an/a00n/a
Nova Scotia042-100.0-100.0302142.9
Bankruptcies021-100.0-100.0231553.3
Proposals021-100.0-100.07616.7
New Brunswick162-83.3-50.0302520.0
Bankruptcies031-100.0-100.0241650.0
Proposals131-66.70.069-33.3
Quebec114158143-27.8-20.31,8941,8343.3
Bankruptcies82125114-34.4-28.11,4841,3896.8
Proposals323329-3.010.3410445-7.9
Ontario253938-35.9-34.253647413.1
Bankruptcies182628-30.8-35.739836110.2
Proposals71310-46.2-30.013811322.1
Manitoba400n/an/a124200.0
Bankruptcies400n/an/a113266.7
Proposals000n/an/a110.0
Saskatchewan020-100.0n/a511-54.5
Bankruptcies010-100.0n/a36-50.0
Proposals010-100.0n/a25-60.0
Alberta111914-42.1-21.41041022.0
Bankruptcies101414-28.6-28.677726.9
Proposals150-80.0n/a2730-10.0
British Columbia463-33.333.3554619.6
Bankruptcies251-60.0100.0322814.3
Proposals212100.00.0231827.8
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada162236202-31.4-19.82,6862,5296.2
Bankruptcies119177159-32.8-25.22,0681,8969.1
Proposals435943-27.10.0618633-2.4
Table 3b: Insolvencies Filed by Individual Businesses
ProvinceVolume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Newfoundland and Labrador411300.0300.02810180.0
Bankruptcies411300.0300.02810180.0
Proposals000n/an/a00n/a
Prince Edward Island001n/a-100.04333.3
Bankruptcies000n/an/a42100.0
Proposals001n/a-100.001-100.0
Nova Scotia136-66.7-83.32426-7.7
Bankruptcies133-66.7-66.7221915.8
Proposals003n/a-100.027-71.4
New Brunswick030-100.0n/a201811.1
Bankruptcies020-100.0n/a1217-29.4
Proposals010-100.0n/a81700.0
Quebec142115-33.3-6.727322819.7
Bankruptcies111611-31.30.018215914.5
Proposals354-40.0-25.0916931.9
Ontario4340307.543.3420426-1.4
Bankruptcies32281814.377.82972950.7
Proposals111212-8.3-8.3123131-6.1
Manitoba022-100.0-100.02426-7.7
Bankruptcies011-100.0-100.02122-4.5
Proposals011-100.0-100.034-25.0
Saskatchewan476-42.9-33.39098-8.2
Bankruptcies452-20.0100.05468-20.6
Proposals024-100.0-100.0363020.0
Alberta61011-40.0-45.51159718.6
Bankruptcies369-50.0-66.7847610.5
Proposals342-25.050.0312147.6
British Columbia5135-61.50.072677.5
Bankruptcies3115-72.7-40.056551.8
Proposals2200.0n/a161233.3
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada7710077-23.00.01,0709997.1
Bankruptcies587350-20.516.07607235.1
Proposals192727-29.6-29.631027612.3
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
August 2019July 2019August 2018July 2019
to
Aug. 2019
Aug. 2018
to
Aug. 2019
08-31-201908-31-2018% Change
Agriculture, Forestry, Fishing and Hunting727250.00.06168-10.3
Bankruptcies503n/a66.74445-2.2
Proposals2240.0-50.01723-26.1
Mining and Oil and Gas Extraction162-83.3-50.0423040.0
Bankruptcies141-75.00.0281947.4
Proposals021-100.0-100.0141127.3
Utilities100n/an/a770.0
Bankruptcies100n/an/a36-50.0
Proposals000n/an/a41300.0
Construction496947-29.04.37277023.6
Bankruptcies365235-30.82.95455018.8
Proposals131712-23.58.3182201-9.5
Manufacturing242925-17.2-4.03293086.8
Bankruptcies162223-27.3-30.424020914.8
Proposals87214.3300.08999-10.1
Wholesale Trade16121333.323.118115913.8
Bankruptcies1081225.0-16.71271233.3
Proposals64150.0500.0543650.0
Retail Trade153436-55.9-58.3383390-1.8
Bankruptcies122628-53.8-57.1299316-5.4
Proposals388-62.5-62.5847413.5
Transportation and Warehousing111217-8.3-35.32192190.0
Bankruptcies9990.00.0165166-0.6
Proposals238-33.3-75.054531.9
Information and Cultural Industries583-37.566.7836038.3
Bankruptcies161-83.30.0604727.7
Proposals422100.0100.0231376.9
Finance and Insurance637100.0-14.3745827.6
Bankruptcies425100.0-20.0594240.5
Proposals212100.00.01516-6.3
Real Estate and Rental and Leasing91613-43.8-30.815613713.9
Bankruptcies6126-50.00.01131075.6
Proposals347-25.0-57.1433043.3
Professional, Scientific and Technical Services123413-64.7-7.72812588.9
Bankruptcies113010-63.310.022419316.1
Proposals143-75.0-66.75765-12.3
Management of Companies and Enterprises4125-66.7-20.093868.1
Bankruptcies485-50.0-20.072694.3
Proposals040-100.0n/a211723.5
Administrative and Support, Waste Management and Remediation Services14111127.327.317314420.1
Bankruptcies106466.7150.011710313.6
Proposals457-20.0-42.9564136.6
Educational Services53566.70.0312810.7
Bankruptcies32450.0-25.022214.8
Proposals211100.0100.09728.6
Health Care and Social Assistance478-42.9-50.0867810.3
Bankruptcies3370.0-57.15354-1.9
Proposals141-75.00.0332437.5
Arts, Entertainment and Recreation8113-27.3166.77679-3.8
Bankruptcies792-22.2250.060600.0
Proposals121-50.00.01619-15.8
Accommodation and Food Services304847-37.5-36.25405400.0
Bankruptcies223640-38.9-45.04323949.6
Proposals8127-33.314.3108146-26.0
Other Services (except Public Administration)181917-5.35.921317323.1
Bankruptcies1615146.714.316414116.3
Proposals243-50.0-33.3493253.1
Public Administration000n/an/a14-75.0
Bankruptcies000n/an/a13-66.7
Proposals000n/an/a01-100.0
Total239336279-28.9-14.33,7563,5286.5
Bankruptcies177250209-29.2-15.32,8282,6198.0
Proposals628670-27.9-11.49289092.1