Insolvency Statistics in Canada—February 2018

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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.

NAICS: North American Industry Classification System.

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
February 2018January 2018February 2017Jan. 2018
to
Feb. 2018
Feb. 2017
to
Feb. 2018
02-28-201802-28-2017% Change
Newfoundland and Labrador205229184-10.511.42,5792,4584.9
Bankruptcies8410884-22.20.01,3791,541-10.5
Proposals1211211000.021.01,20091730.9
Prince Edward Island66456046.710.0694791-12.3
Bankruptcies48252992.065.5421478-11.9
Proposals182031-10.0-41.9273313-12.8
Nova Scotia47137838224.623.35,8256,045-3.6
Bankruptcies28622924024.919.23,8454,220-8.9
Proposals18514914224.230.31,9801,8258.5
New Brunswick275279273-1.40.74,4094,447-0.9
Bankruptcies126132159-4.5-20.82,4572,860-14.1
Proposals1491471141.430.71,9521,58723.0
Quebec3,8493,4443,76611.82.244,06744,873-1.8
Bankruptcies1,9891,7051,99016.7-0.124,15225,593-5.6
Proposals1,8601,7391,7767.04.719,91519,2803.3
Ontario3,0202,8293,1436.8-3.938,81840,348-3.8
Bankruptcies1,1521,0451,22210.2-5.715,83817,356-8.7
Proposals1,8681,7841,9214.7-2.822,98022,992-0.1
Manitoba1861792183.9-14.72,6202,658-1.4
Bankruptcies857610211.8-16.71,3811,467-5.9
Proposals101103116-1.9-12.91,2391,1914.0
Saskatchewan217268250-19.0-13.23,2513,1553.0
Bankruptcies879697-9.4-10.31,4351,530-6.2
Proposals130172153-24.4-15.01,8161,62511.8
Alberta1,0381,0891,093-4.7-5.013,50813,4350.5
Bankruptcies3943884351.5-9.45,0875,496-7.4
Proposals644701658-8.1-2.18,4217,9396.1
British Columbia772823818-6.2-5.610,12310,759-5.9
Bankruptcies347366342-5.21.54,2834,700-8.9
Proposals425457476-7.0-10.75,8406,059-3.6
Northwest Territories672-14.3200.0866434.4
Bankruptcies411300.0300.0553557.1
Proposals261-66.7100.031296.9
Yukon43233.3100.04148-14.6
Bankruptcies1110.00.01924-20.8
Proposals32150.0200.02224-8.3
Nunavut000n/an/a45-20.0
Bankruptcies000n/an/a220.0
Proposals000n/an/a23-33.3
Canada10,1099,57310,1915.6-0.8126,025129,086-2.4
Bankruptcies4,6034,1724,70210.3-2.160,35465,302-7.6
Proposals5,5065,4015,4891.90.365,67163,7843.0
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
February 2018January 2018February 2017Jan. 2018
to
Feb. 2018
Feb. 2017
to
Feb. 2018
02-28-201802-28-2017% Change
Newfoundland and Labrador204228182-10.512.12,5442,4304.7
Bankruptcies8310782-22.41.21,3561,519-10.7
Proposals1211211000.021.01,18891130.4
Prince Edward Island66445950.011.9683776-12.0
Bankruptcies482428100.071.4412469-12.2
Proposals182031-10.0-41.9271307-11.7
Nova Scotia46437338124.421.85,7685,975-3.5
Bankruptcies28122423925.417.63,7964,162-8.8
Proposals18314914222.828.91,9721,8138.8
New Brunswick272277272-1.80.04,3504,394-1.0
Bankruptcies123130158-5.4-22.22,4122,818-14.4
Proposals1491471141.430.71,9381,57623.0
Quebec3,6463,2833,56911.12.241,97042,752-1.8
Bankruptcies1,8261,5921,85714.7-1.722,54524,014-6.1
Proposals1,8201,6911,7127.66.319,42518,7383.7
Ontario2,9402,7603,0586.5-3.937,93139,405-3.7
Bankruptcies1,0989921,16610.7-5.815,19516,669-8.8
Proposals1,8421,7681,8924.2-2.622,73622,7360.0
Manitoba1841742155.7-14.42,5802,607-1.0
Bankruptcies83719916.9-16.21,3471,431-5.9
Proposals101103116-1.9-12.91,2331,1764.8
Saskatchewan206262240-21.4-14.23,1153,0392.5
Bankruptcies819490-13.8-10.01,3361,440-7.2
Proposals125168150-25.6-16.71,7791,59911.3
Alberta1,0231,0811,081-5.4-5.413,31213,2670.3
Bankruptcies3843834260.3-9.94,9585,371-7.7
Proposals639698655-8.5-2.48,3547,8965.8
British Columbia759816800-7.0-5.19,99310,570-5.5
Bankruptcies336362326-7.23.14,1824,549-8.1
Proposals423454474-6.8-10.85,8116,021-3.5
Northwest Territories672-14.3200.0856432.8
Bankruptcies411300.0300.0543554.3
Proposals261-66.7100.031296.9
Yukon43233.3100.04148-14.6
Bankruptcies1110.00.01924-20.8
Proposals32150.0200.02224-8.3
Nunavut000n/an/a440.0
Bankruptcies000n/an/a21100.0
Proposals000n/an/a23-33.3
Canada9,7749,3089,8615.0-0.9122,376125,331-2.4
Bankruptcies4,3483,9814,4739.2-2.857,61462,502-7.8
Proposals5,4265,3275,3881.90.764,76262,8293.1
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
February 2018January 2018February 2017Jan. 2018
to
Feb. 2018
Feb. 2017
to
Feb. 2018
02-28-201802-28-2017% Change
Newfoundland and Labrador1120.0-50.0352825.0
Bankruptcies1120.0-50.023224.5
Proposals000n/an/a126100.0
Prince Edward Island011-100.0-100.01115-26.7
Bankruptcies011-100.0-100.0990.0
Proposals000n/an/a26-66.7
Nova Scotia75140.0600.05770-18.6
Bankruptcies5510.0400.04958-15.5
Proposals200n/an/a812-33.3
New Brunswick32150.0200.0595311.3
Bankruptcies32150.0200.045427.1
Proposals000n/an/a141127.3
Quebec20316119726.13.02,0972,121-1.1
Bankruptcies16311313344.222.61,6071,5791.8
Proposals404864-16.7-37.5490542-9.6
Ontario80698515.9-5.9887943-5.9
Bankruptcies5453561.9-3.6643687-6.4
Proposals26162962.5-10.3244256-4.7
Manitoba253-60.0-33.34051-21.6
Bankruptcies253-60.0-33.33436-5.6
Proposals000n/an/a615-60.0
Saskatchewan1161083.310.013611617.2
Bankruptcies627200.0-14.3999010.0
Proposals54325.066.7372642.3
Alberta1581287.525.019616816.7
Bankruptcies1059100.011.11291253.2
Proposals53366.766.7674355.8
British Columbia1371885.7-27.8130189-31.2
Bankruptcies11416175.0-31.3101151-33.1
Proposals232-33.30.02938-23.7
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a01-100.0
Bankruptcies000n/an/a01-100.0
Proposals000n/an/a00n/a
Canada33526533026.41.53,6493,755-2.8
Bankruptcies25519122933.511.42,7402,800-2.1
Proposals80741018.1-20.8909955-4.8
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
February 2018January 2018February 2017Jan. 2018
to
Feb. 2018
Feb. 2017
to
Feb. 2018
02-28-201802-28-2017% Change
Agriculture, Forestry, Fishing and Hunting463-33.333.36881-16.0
Bankruptcies352-40.050.05154-5.6
Proposals1110.00.01727-37.0
Mining and Oil and Gas Extraction023-100.0-100.04568-33.8
Bankruptcies002n/a-100.02846-39.1
Proposals021-100.0-100.01722-22.7
Utilities400n/an/a9812.5
Bankruptcies300n/an/a84100.0
Proposals100n/an/a14-75.0
Construction71635612.726.8694700-0.9
Bankruptcies48423614.333.3499502-0.6
Proposals2321209.515.0195198-1.5
Manufacturing22183522.2-37.132929312.3
Bankruptcies12102320.0-47.82232077.7
Proposals1081225.0-16.71068623.3
Wholesale Trade13101530.0-13.3170181-6.1
Bankruptcies128950.033.3124146-15.1
Proposals126-50.0-83.3463531.4
Retail Trade303952-23.1-42.3393433-9.2
Bankruptcies252840-10.7-37.5314319-1.6
Proposals51112-54.5-58.379114-30.7
Transportation and Warehousing22161837.522.2227230-1.3
Bankruptcies1715913.388.91811753.4
Proposals519400.0-44.44655-16.4
Information and Cultural Industries7760.016.76369-8.7
Bankruptcies7720.0250.053513.9
Proposals004n/a-100.01018-44.4
Finance and Insurance844100.0100.0716116.4
Bankruptcies633100.0100.0555010.0
Proposals211100.0100.0161145.5
Real Estate and Rental and Leasing21512320.075.0143151-5.3
Bankruptcies1957280.0171.41119813.3
Proposals205n/a-60.03253-39.6
Professional, Scientific and Technical Services26182144.423.8263295-10.8
Bankruptcies21131661.531.3204227-10.1
Proposals5550.00.05968-13.2
Management of Companies and Enterprises86933.3-11.183769.2
Bankruptcies65720.0-14.3645320.8
Proposals212100.00.01923-17.4
Administrative and Support, Waste Management and Remediation Services19718171.45.6145189-23.3
Bankruptcies17416325.06.3105146-28.1
Proposals232-33.30.04043-7.0
Educational Services427100.0-42.936345.9
Bankruptcies2260.0-66.7292231.8
Proposals201n/a100.0712-41.7
Health Care and Social Assistance1026400.066.7837018.6
Bankruptcies614500.050.0625414.8
Proposals412300.0100.0211631.3
Arts, Entertainment and Recreation6125-50.020.0887418.9
Bankruptcies683-25.0100.0675521.8
Proposals042-100.0-100.0211910.5
Accommodation and Food Services49374432.411.4549573-4.2
Bankruptcies35273429.62.9401455-11.9
Proposals14101040.040.014811825.4
Other Services (except Public Administration)11101610.0-31.318416710.2
Bankruptcies1071042.90.015613515.6
Proposals136-66.7-83.32832-12.5
Public Administration010-100.0n/a62200.0
Bankruptcies010-100.0n/a51400.0
Proposals000n/an/a110.0
Total33526533026.41.53,6493,755-2.8
Bankruptcies25519122933.511.42,7402,800-2.1
Proposals80741018.1-20.8909955-4.8