Insolvency Statistics in Canada—January 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
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Newfoundland and Labrador166228212-27.2-21.73,2162,80914.5
Bankruptcies729584-24.2-14.31,4891,3728.5
Proposals94133128-29.3-26.61,7271,43720.2
Prince Edward Island545957-8.5-5.37567471.2
Bankruptcies313435-8.8-11.4391439-10.9
Proposals232522-8.04.536530818.5
Nova Scotia425480469-11.5-9.46,0555,7335.6
Bankruptcies208227266-8.4-21.83,1863,553-10.3
Proposals217253203-14.26.92,8692,18031.6
New Brunswick38533634814.610.64,9334,5867.6
Bankruptcies146147156-0.7-6.42,3672,3182.1
Proposals23918919226.524.52,5662,26813.1
Quebec3,6843,1293,37617.79.145,29943,7633.5
Bankruptcies1,5731,5011,6394.8-4.021,59222,701-4.9
Proposals2,1111,6281,73729.721.523,70721,06212.6
Ontario3,7353,4093,1999.616.846,29040,16315.3
Bankruptcies1,1091,1841,064-6.34.215,27415,367-0.6
Proposals2,6262,2252,13518.023.031,01624,79625.1
Manitoba28425521811.430.33,2512,89112.5
Bankruptcies869086-4.40.01,3771,400-1.6
Proposals19816513220.050.01,8741,49125.7
Saskatchewan31028128910.37.33,5783,5191.7
Bankruptcies105119119-11.8-11.81,3671,3620.4
Proposals20516217026.520.62,2112,1572.5
Alberta1,4521,3331,2368.917.517,11414,90814.8
Bankruptcies4404164595.8-4.15,7255,15811.0
Proposals1,01291777710.430.211,3899,75016.8
British Columbia834910855-8.4-2.511,32710,3079.9
Bankruptcies289315350-8.3-17.44,1634,1310.8
Proposals545595505-8.47.97,1646,17616.0
Northwest Territories5530.066.77074-5.4
Bankruptcies2200.0n/a1241-70.7
Proposals3330.00.0583375.8
Yukon32350.00.03335-5.7
Bankruptcies1110.00.013130.0
Proposals212100.00.02022-9.1
Nunavut000n/an/a83166.7
Bankruptcies000n/an/a20n/a
Proposals000n/an/a63100.0
Canada11,33710,42710,2658.710.4141,930129,5389.6
Bankruptcies4,0624,1314,259-1.7-4.656,95857,855-1.6
Proposals7,2756,2966,00615.521.184,97271,68318.5
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Newfoundland and Labrador166225210-26.2-21.03,1772,78414.1
Bankruptcies729282-21.7-12.21,4561,3517.8
Proposals94133128-29.3-26.61,7211,43320.1
Prince Edward Island535757-7.0-7.07457440.1
Bankruptcies303235-6.3-14.3381437-12.8
Proposals232522-8.04.536430718.6
Nova Scotia419475466-11.8-10.15,9935,6885.4
Bankruptcies202222263-9.0-23.23,1323,522-11.1
Proposals217253203-14.26.92,8612,16632.1
New Brunswick38433634314.312.04,8924,5467.6
Bankruptcies145147152-1.4-4.62,3362,2842.3
Proposals23918919126.525.12,5562,26213.0
Quebec3,4972,9473,22018.78.643,14241,6733.5
Bankruptcies1,4361,3631,5115.4-5.019,96321,107-5.4
Proposals2,0611,5841,70930.120.623,17920,56612.7
Ontario3,6603,3453,1159.417.545,39739,21115.8
Bankruptcies1,0631,1461,004-7.25.914,63614,672-0.2
Proposals2,5972,1992,11118.123.030,76124,53925.4
Manitoba28325021313.232.93,2162,86312.3
Bankruptcies858681-1.24.91,3481,374-1.9
Proposals19816413220.750.01,8681,48925.5
Saskatchewan3012742809.97.53,4743,4171.7
Bankruptcies98112113-12.5-13.31,3021,2990.2
Proposals20316216725.321.62,1722,1182.5
Alberta1,4351,3151,2229.117.416,88814,69614.9
Bankruptcies4244034505.2-5.85,5634,99211.4
Proposals1,01191277210.931.011,3259,70416.7
British Columbia823903841-8.9-2.111,20310,1979.9
Bankruptcies282311340-9.3-17.14,0764,0500.6
Proposals541592501-8.68.07,1276,14715.9
Northwest Territories5530.066.76874-8.1
Bankruptcies2200.0n/a1141-73.2
Proposals3330.00.0573372.7
Yukon32350.00.03335-5.7
Bankruptcies1110.00.013130.0
Proposals212100.00.02022-9.1
Nunavut000n/an/a63100.0
Bankruptcies000n/an/a00n/a
Proposals000n/an/a63100.0
Canada11,02910,1349,9738.810.6138,234125,9319.8
Bankruptcies3,8403,9174,032-2.0-4.854,21755,142-1.7
Proposals7,1896,2175,94115.621.084,01770,78918.7
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Newfoundland and Labrador032-100.0-100.0392556.0
Bankruptcies032-100.0-100.0332157.1
Proposals000n/an/a6450.0
Prince Edward Island120-50.0n/a113266.7
Bankruptcies120-50.0n/a102400.0
Proposals000n/an/a110.0
Nova Scotia65320.0100.0624537.8
Bankruptcies65320.0100.0543174.2
Proposals000n/an/a814-42.9
New Brunswick105n/a-80.041402.5
Bankruptcies104n/a-75.03134-8.8
Proposals001n/a-100.010666.7
Quebec1871821562.719.92,1572,0903.2
Bankruptcies137138128-0.77.01,6291,5942.2
Proposals50442813.678.65284966.5
Ontario75648417.2-10.7893952-6.2
Bankruptcies46386021.1-23.3638695-8.2
Proposals29262411.520.8255257-0.8
Manitoba155-80.0-80.0352825.0
Bankruptcies145-75.0-80.0292611.5
Proposals010-100.0n/a62200.0
Saskatchewan97928.60.01041022.0
Bankruptcies7760.016.765633.2
Proposals203n/a-33.339390.0
Alberta171814-5.621.42262126.6
Bankruptcies1613923.177.8162166-2.4
Proposals155-80.0-80.0644639.1
British Columbia1171457.1-21.412411012.7
Bankruptcies741075.0-30.087817.4
Proposals43433.30.0372927.6
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
Canada3082932925.15.53,6963,6072.5
Bankruptcies2222142273.7-2.22,7412,7131.0
Proposals8679658.932.39558946.8
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Newfoundland and Labrador002n/a-100.01113-15.4
Bankruptcies002n/a-100.089-11.1
Proposals000n/an/a34-25.0
Prince Edward Island000n/an/a41300.0
Bankruptcies000n/an/a31200.0
Proposals000n/an/a10n/a
Nova Scotia342-25.050.0322245.5
Bankruptcies342-25.050.0251656.3
Proposals000n/an/a7616.7
New Brunswick102n/a-50.0282040.0
Bankruptcies102n/a-50.0221822.2
Proposals000n/an/a62200.0
Quebec1631611391.217.31,8861,8223.5
Bankruptcies124125117-0.86.01,4601,4133.3
Proposals3936228.377.34264094.2
Ontario43375216.2-17.3479539-11.1
Bankruptcies35223759.1-5.4360407-11.5
Proposals81515-46.7-46.7119132-9.8
Manitoba030-100.0n/a135160.0
Bankruptcies020-100.0n/a114175.0
Proposals010-100.0n/a21100.0
Saskatchewan201n/a100.0990.0
Bankruptcies201n/a100.06520.0
Proposals000n/an/a34-25.0
Alberta1310230.0550.01289633.3
Bankruptcies127171.41100.0947623.7
Proposals131-66.70.0342070.0
British Columbia307n/a-57.1504219.0
Bankruptcies203n/a-33.3352634.6
Proposals104n/a-75.01516-6.3
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
Canada2282152076.010.12,6432,5692.9
Bankruptcies17916016511.98.52,0261,9752.6
Proposals495542-10.916.76175943.9
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Newfoundland and Labrador030-100.0n/a2812133.3
Bankruptcies030-100.0n/a2512108.3
Proposals000n/an/a30n/a
Prince Edward Island120-50.0n/a72250.0
Bankruptcies120-50.0n/a71600.0
Proposals000n/an/a01-100.0
Nova Scotia311200.0200.0302330.4
Bankruptcies311200.0200.0291593.3
Proposals000n/an/a18-87.5
New Brunswick003n/a-100.01320-35.0
Bankruptcies002n/a-100.0916-43.8
Proposals001n/a-100.0440.0
Quebec24211714.341.22712681.1
Bankruptcies1313110.018.2169181-6.6
Proposals118637.583.31028717.2
Ontario32273218.50.04144130.2
Bankruptcies111623-31.3-52.2278288-3.5
Proposals2111990.9133.31361258.8
Manitoba125-50.0-80.02223-4.3
Bankruptcies125-50.0-80.01822-18.2
Proposals000n/an/a41300.0
Saskatchewan7780.0-12.595932.2
Bankruptcies575-28.60.059581.7
Proposals203n/a-33.336352.9
Alberta4812-50.0-66.798116-15.5
Bankruptcies468-33.3-50.06890-24.4
Proposals024-100.0-100.0302615.4
British Columbia87714.314.374688.8
Bankruptcies54725.0-28.65255-5.5
Proposals3300.0n/a221369.2
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
Canada8078852.6-5.91,0531,0381.4
Bankruptcies435462-20.4-30.6715738-3.1
Proposals37242354.260.933830012.7
Table 4: Insolvencies by NAICSEconomic Sectors, Canada
-Volume% Change12-Month Period Ending
January 2020December 2019January 2019Dec. 2019 to Jan. 2020Jan. 2019 to Jan. 202001-31-202001-31-2019% Change
Agriculture, Forestry, Fishing and Hunting9211350.0-18.26269-10.1
Bankruptcies5210150.0-50.04151-19.6
Proposals401n/a300.0211816.7
Mining and Oil and Gas Extraction125-50.0-80.0382740.7
Bankruptcies121-50.00.0251656.3
Proposals004n/a-100.0131118.2
Utilities010-100.0n/a78-12.5
Bankruptcies000n/an/a45-20.0
Proposals010-100.0n/a330.0
Construction343849-10.5-30.6669709-5.6
Bankruptcies232634-11.5-32.4488519-6.0
Proposals111215-8.3-26.7181190-4.7
Manufacturing254022-37.513.634130113.3
Bankruptcies132716-51.9-18.82402199.6
Proposals12136-7.7100.01018223.2
Wholesale Trade15188-16.787.519815527.7
Bankruptcies1110610.083.313711915.1
Proposals482-50.0100.0613669.4
Retail Trade4037318.129.0393401-2.0
Bankruptcies29252416.020.8298318-6.3
Proposals11127-8.357.1958314.5
Transportation and Warehousing28232121.733.3226235-3.8
Bankruptcies171918-10.5-5.6163181-9.9
Proposals1143175.0266.7635416.7
Information and Cultural Industries95680.050.0836233.9
Bankruptcies64550.020.0614729.8
Proposals311200.0200.0221546.7
Finance and Insurance3350.0-40.06165-6.2
Bankruptcies235-33.3-60.04950-2.0
Proposals100n/an/a1215-20.0
Real Estate and Rental and Leasing142020-30.0-30.0153164-6.7
Bankruptcies121419-14.3-36.8112119-5.9
Proposals261-66.7100.04145-8.9
Professional, Scientific and Technical Services18152320.0-21.728025410.2
Bankruptcies1212140.0-14.322219116.2
Proposals639100.0-33.35863-7.9
Management of Companies and Enterprises75740.00.084822.4
Bankruptcies5560.0-16.767670.0
Proposals201n/a100.0171513.3
Administrative and Support, Waste Management and Remediation Services121513-20.0-7.71741636.7
Bankruptcies8138-38.50.01241139.7
Proposals425100.0-20.050500.0
Educational Services411300.0300.0362828.6
Bankruptcies310200.0n/a262030.0
Proposals101n/a0.010825.0
Health Care and Social Assistance818700.00.08586-1.2
Bankruptcies616500.00.058539.4
Proposals202n/a0.02733-18.2
Arts, Entertainment and Recreation137785.785.7846333.3
Bankruptcies1157120.057.1665129.4
Proposals2200.0n/a181250.0
Accommodation and Food Services4743439.39.3510543-6.1
Bankruptcies38344011.8-5.0398424-6.1
Proposals9930.0200.0112119-5.9
Other Services (except Public Administration)21171223.575.021218912.2
Bankruptcies2011881.8150.01621489.5
Proposals164-83.3-75.0504122.0
Public Administration000n/an/a03-100.0
Bankruptcies000n/an/a02-100.0
Proposals000n/an/a01-100.0
Total3082932925.15.53,6963,6072.5
Bankruptcies2222142273.7-2.22,7412,7131.0
Proposals8679658.932.39558946.8