Insolvency Statistics in Canada—February 2020

Note:

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

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
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Newfoundland and Labrador23016627138.6-15.13,1752,87510.4
Bankruptcies997212437.5-20.21,4641,4123.7
Proposals1319414739.4-10.91,7111,46317.0
Prince Edward Island435454-20.4-20.47457351.4
Bankruptcies273127-12.90.0391418-6.5
Proposals162327-30.4-40.735431711.7
Nova Scotia4524253936.415.06,1145,6558.1
Bankruptcies2092082190.5-4.63,1763,486-8.9
Proposals24321717412.039.72,9382,16935.5
New Brunswick356385337-7.55.64,9524,6486.5
Bankruptcies137146152-6.2-9.92,3522,3440.3
Proposals219239185-8.418.42,6002,30412.8
Quebec3,7703,6843,7012.31.945,36843,6154.0
Bankruptcies1,6381,5731,7704.1-7.521,46022,482-4.5
Proposals2,1322,1111,9311.010.423,90821,13313.1
Ontario3,8373,7353,2842.716.846,84340,42715.9
Bankruptcies1,0661,1091,069-3.9-0.315,27115,284-0.1
Proposals2,7712,6262,2155.525.131,57225,14325.6
Manitoba279284221-1.826.23,3092,92613.1
Bankruptcies698694-19.8-26.61,3521,409-4.0
Proposals2101981276.165.41,9571,51729.0
Saskatchewan306310254-1.320.53,6303,5562.1
Bankruptcies1151051039.511.71,3791,3780.1
Proposals191205151-6.826.52,2512,1783.4
Alberta1,4021,4521,305-3.47.417,21115,17513.4
Bankruptcies398440479-9.5-16.95,6445,2437.6
Proposals1,0041,012826-0.821.511,5679,93216.5
British Columbia8958347897.313.411,43310,32410.7
Bankruptcies34128930518.011.84,1994,0892.7
Proposals5545454841.714.57,2346,23516.0
Northwest Territories458-20.0-50.06676-13.2
Bankruptcies021-100.0-100.01138-71.1
Proposals43733.3-42.9553844.7
Yukon132-66.7-50.03233-3.0
Bankruptcies1110.00.013130.0
Proposals021-100.0-100.01920-5.0
Nunavut002n/a-100.06520.0
Bankruptcies000n/an/a20n/a
Proposals002n/a-100.045-20.0
Canada11,57511,33710,6212.19.0142,884130,0509.9
Bankruptcies4,1004,0624,3440.9-5.656,71457,596-1.5
Proposals7,4757,2756,2772.719.186,17072,45418.9
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Newfoundland and Labrador22816626637.3-14.33,1392,84610.3
Bankruptcies977211934.7-18.51,4341,3873.4
Proposals1319414739.4-10.91,7051,45916.9
Prince Edward Island435354-18.9-20.47347320.3
Bankruptcies273027-10.00.0381416-8.4
Proposals162327-30.4-40.735331611.7
Nova Scotia4484193876.915.86,0545,6117.9
Bankruptcies2072022142.5-3.33,1253,455-9.6
Proposals24121717311.139.32,9292,15635.9
New Brunswick354384335-7.85.74,9114,6096.6
Bankruptcies135145151-6.9-10.62,3202,3120.3
Proposals219239184-8.419.02,5912,29712.8
Quebec3,5783,4973,4952.32.443,22541,5224.1
Bankruptcies1,4941,4361,6054.0-6.919,85220,886-5.0
Proposals2,0842,0611,8901.110.323,37320,63613.3
Ontario3,7533,6603,2252.516.445,92539,49616.3
Bankruptcies1,0111,0631,026-4.9-1.514,62114,6000.1
Proposals2,7422,5972,1995.624.731,30424,89625.7
Manitoba278283220-1.826.43,2742,89912.9
Bankruptcies688593-20.0-26.91,3231,384-4.4
Proposals2101981276.165.41,9511,51528.8
Saskatchewan294301246-2.319.53,5223,4571.9
Bankruptcies10498986.16.11,3081,316-0.6
Proposals190203148-6.428.42,2142,1413.4
Alberta1,3841,4351,282-3.68.016,99014,95513.6
Bankruptcies385424462-9.2-16.75,4865,0708.2
Proposals9991,011820-1.221.811,5049,88516.4
British Columbia8868237817.713.411,30810,21910.7
Bankruptcies33828230219.911.94,1124,0162.4
Proposals5485414791.314.47,1966,20316.0
Northwest Territories458-20.0-50.06476-15.8
Bankruptcies021-100.0-100.01038-73.7
Proposals43733.3-42.9543842.1
Yukon132-66.7-50.03233-3.0
Bankruptcies1110.00.013130.0
Proposals021-100.0-100.01920-5.0
Nunavut002n/a-100.045-20.0
Bankruptcies000n/an/a00n/a
Proposals002n/a-100.045-20.0
Canada11,25111,02910,3032.09.2139,182126,46010.1
Bankruptcies3,8673,8404,0990.7-5.753,98554,893-1.7
Proposals7,3847,1896,2042.719.085,19771,56719.0
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Newfoundland and Labrador205n/a-60.0362924.1
Bankruptcies205n/a-60.0302520.0
Proposals000n/an/a6450.0
Prince Edward Island010-100.0n/a113266.7
Bankruptcies010-100.0n/a102400.0
Proposals000n/an/a110.0
Nova Scotia466-33.3-33.3604436.4
Bankruptcies265-66.7-60.0513164.5
Proposals201n/a100.0913-30.8
New Brunswick212100.00.041395.1
Bankruptcies211100.0100.032320.0
Proposals001n/a-100.09728.6
Quebec1921872062.7-6.82,1432,0932.4
Bankruptcies1441371655.1-12.71,6081,5960.8
Proposals485041-4.017.15354977.6
Ontario84755912.042.4918931-1.4
Bankruptcies55464319.627.9650684-5.0
Proposals2929160.081.32682478.5
Manitoba1110.00.0352729.6
Bankruptcies1110.00.0292516.0
Proposals000n/an/a62200.0
Saskatchewan129833.350.0108999.1
Bankruptcies117557.1120.0716214.5
Proposals123-50.0-66.737370.0
Alberta1817235.9-21.72212200.5
Bankruptcies131617-18.8-23.5158173-8.7
Proposals516400.0-16.7634734.0
British Columbia9118-18.212.512510519.0
Bankruptcies373-57.10.0877319.2
Proposals64550.020.0383218.8
Northwest Territories000n/an/a20n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada3243083185.21.93,7023,5903.1
Bankruptcies2332222455.0-4.92,7292,7031.0
Proposals9186735.824.79738879.7
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Newfoundland and Labrador001n/a-100.01014-28.6
Bankruptcies001n/a-100.0710-30.0
Proposals000n/an/a34-25.0
Prince Edward Island000n/an/a41300.0
Bankruptcies000n/an/a31200.0
Proposals000n/an/a10n/a
Nova Scotia3330.00.0322528.0
Bankruptcies132-66.7-50.0241833.3
Proposals201n/a100.08714.3
New Brunswick211100.0100.0291952.6
Bankruptcies211100.0100.0231735.3
Proposals000n/an/a62200.0
Quebec1711631834.9-6.61,8741,8262.6
Bankruptcies1311241535.6-14.41,4381,4171.5
Proposals4039302.633.34364096.6
Ontario354333-18.66.1481541-11.1
Bankruptcies253524-28.64.2361405-10.9
Proposals108925.011.1120136-11.8
Manitoba000n/an/a134225.0
Bankruptcies000n/an/a113266.7
Proposals000n/an/a21100.0
Saskatchewan2200.0n/a11837.5
Bankruptcies2200.0n/a8560.0
Proposals000n/an/a330.0
Alberta121314-7.7-14.312610026.0
Bankruptcies8129-33.3-11.1937819.2
Proposals415300.0-20.0332250.0
British Columbia3340.0-25.0494119.5
Bankruptcies2210.0100.0362263.6
Proposals1130.0-66.71319-31.6
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada2282282390.0-4.62,6322,5792.1
Bankruptcies171179191-4.5-10.52,0061,9761.5
Proposals57494816.318.86266033.8
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Newfoundland and Labrador204n/a-50.0261573.3
Bankruptcies204n/a-50.0231553.3
Proposals000n/an/a30n/a
Prince Edward Island010-100.0n/a72250.0
Bankruptcies010-100.0n/a71600.0
Proposals000n/an/a01-100.0
Nova Scotia133-66.7-66.7281947.4
Bankruptcies133-66.7-66.72713107.7
Proposals000n/an/a16-83.3
New Brunswick001n/a-100.01220-40.0
Bankruptcies000n/an/a915-40.0
Proposals001n/a-100.035-40.0
Quebec212423-12.5-8.72692670.7
Bankruptcies1313120.08.3170179-5.0
Proposals81111-27.3-27.3998812.5
Ontario49322653.188.543739012.1
Bankruptcies301119172.757.92892793.6
Proposals19217-9.5171.414811133.3
Manitoba1110.00.02223-4.3
Bankruptcies1110.00.01822-18.2
Proposals000n/an/a41300.0
Saskatchewan107842.925.097916.6
Bankruptcies95580.080.0635710.5
Proposals123-50.0-66.734340.0
Alberta64950.0-33.395120-20.8
Bankruptcies54825.0-37.56595-31.6
Proposals101n/a0.0302520.0
British Columbia684-25.050.0766418.8
Bankruptcies152-80.0-50.051510.0
Proposals53266.7150.0251392.3
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/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada96807920.021.51,0701,0115.8
Bankruptcies62435444.214.8723727-0.6
Proposals343725-8.136.034728422.2
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
-Volume% Change12-Month Period Ending
February 2020January 2020February 2019Jan. 2020 to Feb. 2020Feb. 2019 to Feb. 202002-29-202002-28-2019% Change
Agriculture, Forestry, Fishing and Hunting193-88.9-66.76068-11.8
Bankruptcies153-80.0-66.73951-23.5
Proposals040-100.0n/a211723.5
Mining and Oil and Gas Extraction212100.00.0382931.0
Bankruptcies211100.0100.0261752.9
Proposals001n/a-100.012120.0
Utilities000n/an/a7475.0
Bankruptcies000n/an/a42100.0
Proposals000n/an/a3250.0
Construction60345976.51.7670697-3.9
Bankruptcies482348108.70.0488519-6.0
Proposals1211119.19.11821782.2
Manufacturing29252416.020.834630314.2
Bankruptcies21131761.523.52442248.9
Proposals8127-33.314.31027929.1
Wholesale Trade131522-13.3-40.918916415.2
Bankruptcies1111160.0-31.31321237.3
Proposals246-50.0-66.7574139.0
Retail Trade384036-5.05.6395407-2.9
Bankruptcies282931-3.4-9.7295324-9.0
Proposals10115-9.1100.01008320.5
Transportation and Warehousing172827-39.3-37.0216240-10.0
Bankruptcies121719-29.4-36.8156183-14.8
Proposals5118-54.5-37.560575.3
Information and Cultural Industries99100.0-10.0826526.2
Bankruptcies96750.028.6634734.0
Proposals033-100.0-100.019185.6
Finance and Insurance43733.3-42.95864-9.4
Bankruptcies425100.0-20.04849-2.0
Proposals012-100.0-100.01015-33.3
Real Estate and Rental and Leasing6146-57.10.01531492.7
Bankruptcies2124-83.3-50.01101045.8
Proposals422100.0100.04345-4.4
Professional, Scientific and Technical Services27182850.0-3.62792569.0
Bankruptcies16122133.3-23.821719113.6
Proposals116783.357.16265-4.6
Management of Companies and Enterprises1575114.3200.0947919.0
Bankruptcies75440.075.070657.7
Proposals821300.0700.0241471.4
Administrative and Support, Waste Management and Remediation Services101216-16.7-37.51681605.0
Bankruptcies5811-37.5-54.511810710.3
Proposals54525.00.05053-5.7
Educational Services4440.00.0362828.6
Bankruptcies43333.333.3272128.6
Proposals011-100.0-100.09728.6
Health Care and Social Assistance681-25.0500.0907716.9
Bankruptcies361-50.0200.0604825.0
Proposals32050.0n/a30293.4
Arts, Entertainment and Recreation10136-23.166.7886339.7
Bankruptcies7115-36.440.0685036.0
Proposals32150.0200.0201353.8
Accommodation and Food Services60474727.727.7523541-3.3
Bankruptcies46383821.121.1406427-4.9
Proposals149955.655.61171142.6
Other Services (except Public Administration)132115-38.1-13.32101938.8
Bankruptcies72011-65.0-36.41581496.0
Proposals614500.050.0524418.2
Public Administration000n/an/a03-100.0
Bankruptcies000n/an/a02-100.0
Proposals000n/an/a01-100.0
Total3243083185.21.93,7023,5903.1
Bankruptcies2332222455.0-4.92,7292,7031.0
Proposals9186735.824.79738879.7