Insolvency Statistics in Canada—January 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 Insolvencies
Province Volume % Change 12-Month Period Ending
January 2022 December 2021 January 2021 Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-2022 01-31-2021 % Change
Newfoundland and Labrador 120 101 136 18.8 -11.8 1,733 1,853 -6.5
Bankruptcies 44 37 49 18.9 -10.2 648 755 -14.2
Proposals 76 64 87 18.8 -12.6 1,085 1,098 -1.2
Prince Edward Island 33 31 32 6.5 3.1 389 406 -4.2
Bankruptcies 14 10 13 40.0 7.7 173 186 -7.0
Proposals 19 21 19 -9.5 0.0 216 220 -1.8
Nova Scotia 194 198 223 -2.0 -13.0 2,995 3,315 -9.7
Bankruptcies 79 80 94 -1.3 -16.0 1,266 1,501 -15.7
Proposals 115 118 129 -2.5 -10.9 1,729 1,814 -4.7
New Brunswick 212 217 249 -2.3 -14.9 2,960 3,253 -9.0
Bankruptcies 79 83 106 -4.8 -25.5 1,224 1,462 -16.3
Proposals 133 134 143 -0.7 -7.0 1,736 1,791 -3.1
Quebec 1,969 1,794 1,983 9.8 -0.7 25,183 26,581 -5.3
Bankruptcies 815 797 857 2.3 -4.9 11,331 12,256 -7.5
Proposals 1,154 997 1,126 15.7 2.5 13,852 14,325 -3.3
Ontario 2,246 2,444 2,441 -8.1 -8.0 30,745 33,457 -8.1
Bankruptcies 499 666 585 -25.1 -14.7 7,941 9,225 -13.9
Proposals 1,747 1,778 1,856 -1.7 -5.9 22,804 24,232 -5.9
Manitoba 157 208 201 -24.5 -21.9 2,494 2,479 0.6
Bankruptcies 36 73 57 -50.7 -36.8 786 786 0.0
Proposals 121 135 144 -10.4 -16.0 1,708 1,693 0.9
Saskatchewan 214 245 216 -12.7 -0.9 2,770 2,595 6.7
Bankruptcies 48 56 54 -14.3 -11.1 774 867 -10.7
Proposals 166 189 162 -12.2 2.5 1,996 1,728 15.5
Alberta 975 1,056 1,094 -7.7 -10.9 13,976 12,891 8.4
Bankruptcies 189 198 258 -4.5 -26.7 2,750 3,542 -22.4
Proposals 786 858 836 -8.4 -6.0 11,226 9,349 20.1
British Columbia 646 710 662 -9.0 -2.4 8,757 8,226 6.5
Bankruptcies 143 153 182 -6.5 -21.4 2,182 2,582 -15.5
Proposals 503 557 480 -9.7 4.8 6,575 5,644 16.5
Northwest Territories 8 10 8 -20.0 0.0 53 50 6.0
Bankruptcies 0 1 1 -100.0 -100.0 8 9 -11.1
Proposals 8 9 7 -11.1 14.3 45 41 9.8
Yukon 4 5 3 -20.0 33.3 35 36 -2.8
Bankruptcies 0 1 1 -100.0 -100.0 8 11 -27.3
Proposals 4 4 2 0.0 100.0 27 25 8.0
Nunavut 1 1 1 0.0 0.0 12 14 -14.3
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 1 1 1 0.0 0.0 11 13 -15.4
Canada 6,779 7,020 7,249 -3.4 -6.5 92,102 95,156 -3.2
Bankruptcies 1,946 2,155 2,257 -9.7 -13.8 29,092 33,183 -12.3
Proposals 4,833 4,865 4,992 -0.7 -3.2 63,010 61,973 1.7
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
January 2022December 2021January 2021Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-202201-31-2021% Change
Newfoundland and Labrador12010013520.0-11.11,7221,842-6.5
Bankruptcies44374818.9-8.3638744-14.2
Proposals76638720.6-12.61,0841,098-1.3
Prince Edward Island 32 30 32 6.7 0.0 384 405 -5.2
Bankruptcies 13 9 13 44.4 0.0 169 186 -9.1
Proposals 19 21 19 -9.5 0.0 215 219 -1.8
Nova Scotia193197220-2.0-12.32,9803,299-9.7
Bankruptcies788091-2.5-14.31,2551,488-15.7
Proposals115117129-1.7-10.91,7251,811-4.7
New Brunswick 209 215 248 -2.8 -15.7 2,946 3,229 -8.8
Bankruptcies 76 81 106 -6.2 -28.3 1,211 1,447 -16.3
Proposals 133 134 142 -0.7 -6.3 1,735 1,782 -2.6
Quebec1,8351,6271,89212.8-3.023,61025,078-5.9
Bankruptcies7026607816.4-10.110,03411,059-9.3
Proposals1,1339671,11117.22.013,57614,019-3.2
Ontario 2,201 2,362 2,393 -6.8 -8.0 30,135 32,725 -7.9
Bankruptcies 463 608 549 -23.8 -15.7 7,494 8,699 -13.9
Proposals 1,738 1,754 1,844 -0.9 -5.7 22,641 24,026 -5.8
Manitoba154206200-25.2-23.02,4612,4440.7
Bankruptcies357256-51.4-37.57617580.4
Proposals119134144-11.2-17.41,7001,6860.8
Saskatchewan 211 241 214 -12.4 -1.4 2,721 2,553 6.6
Bankruptcies 45 52 52 -13.5 -13.5 737 832 -11.4
Proposals 166 189 162 -12.2 2.5 1,984 1,721 15.3
Alberta9671,0441,086-7.4-11.013,83712,7408.6
Bankruptcies181191254-5.2-28.72,6583,432-22.6
Proposals786853832-7.9-5.511,1799,30820.1
British Columbia 631 707 654 -10.7 -3.5 8,676 8,101 7.1
Bankruptcies 131 151 176 -13.2 -25.6 2,127 2,503 -15.0
Proposals 500 556 478 -10.1 4.6 6,549 5,598 17.0
Northwest Territories8108-20.00.053506.0
Bankruptcies011-100.0-100.089-11.1
Proposals897-11.114.345419.8
Yukon 4 5 3 -20.0 33.3 35 36 -2.8
Bankruptcies 0 1 1 -100.0 -100.0 8 11 -27.3
Proposals 4 4 2 0.0 100.0 27 25 8.0
Nunavut1110.00.01213-7.7
Bankruptcies000----10--
Proposals1110.00.01113-15.4
Canada6,5666,7457,086-2.7-7.389,57292,515-3.2
Bankruptcies1,7681,9432,128-9.0-16.927,10131,168-13.0
Proposals4,7984,8024,958-0.1-3.262,47161,3471.8
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
January 2022December 2021January 2021Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-202201-31-2021% Change
Newfoundland and Labrador011-100.0-100.011110.0
Bankruptcies001---100.01011-9.1
Proposals010-100.0--10--
Prince Edward Island 1 1 0 0.0 -- 5 1 400.0
Bankruptcies 1 1 0 0.0 -- 4 0 --
Proposals 0 0 0 -- -- 1 1 0.0
Nova Scotia1130.0-66.71516-6.3
Bankruptcies103---66.71113-15.4
Proposals010-100.0--4333.3
New Brunswick 3 2 1 50.0 200.0 14 24 -41.7
Bankruptcies 3 2 0 50.0 -- 13 15 -13.3
Proposals 0 0 1 -- -100.0 1 9 -88.9
Quebec13416791-19.847.31,5731,5034.7
Bankruptcies11313776-17.548.71,2971,1978.4
Proposals213015-30.040.0276306-9.8
Ontario 45 82 48 -45.1 -6.3 610 732 -16.7
Bankruptcies 36 58 36 -37.9 0.0 447 526 -15.0
Proposals 9 24 12 -62.5 -25.0 163 206 -20.9
Manitoba32150.0200.03335-5.7
Bankruptcies1110.00.02528-10.7
Proposals210100.0--8714.3
Saskatchewan 3 4 2 -25.0 50.0 49 42 16.7
Bankruptcies 3 4 2 -25.0 50.0 37 35 5.7
Proposals 0 0 0 -- -- 12 7 71.4
Alberta8128-33.30.0139151-7.9
Bankruptcies87414.3100.092110-16.4
Proposals054-100.0-100.0474114.6
British Columbia 15 3 8 400.0 87.5 81 125 -35.2
Bankruptcies 12 2 6 500.0 100.0 55 79 -30.4
Proposals 3 1 2 200.0 50.0 26 46 -43.5
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Canada213275163-22.530.72,530 2,641 -4.2
Bankruptcies178212129-16.038.01,991 2,015 -1.2
Proposals356334-44.42.9539 626 -13.9
Table 3a: Insolvencies Filed by Corporations
ProvinceVolume% Change12-Month Period Ending
January 2022December 2021January 2021Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-202201-31-2021% Change
Newfoundland and Labrador011-100.0-100.0440.0
Bankruptcies001---100.034-25.0
Proposals010-100.0--10--
Prince Edward Island 1 0 0 -- -- 2 1 100.0
Bankruptcies 1 0 0 -- -- 2 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Nova Scotia002---100.0410-60.0
Bankruptcies002---100.038-62.5
Proposals000----12-50.0
New Brunswick 1 2 1 -50.0 0.0 9 14 -35.7
Bankruptcies 1 2 0 -50.0 -- 8 11 -27.3
Proposals 0 0 1 -- -100.0 1 3 -66.7
Quebec11615277-23.750.61,3771,3283.7
Bankruptcies10513069-19.252.21,1831,0839.2
Proposals11228-50.037.5194245-20.8
Ontario 26 66 30 -60.6 -13.3 431 477 -9.6
Bankruptcies 22 50 27 -56.0 -18.5 344 373 -7.8
Proposals 4 16 3 -75.0 33.3 87 104 -16.3
Manitoba200----15147.1
Bankruptcies000----10911.1
Proposals200----550.0
Saskatchewan 1 0 0 -- -- 16 11 45.5
Bankruptcies 1 0 0 -- -- 13 9 44.4
Proposals 0 0 0 -- -- 3 2 50.0
Alberta373-57.10.08186-5.8
Bankruptcies362-50.050.05866-12.1
Proposals011-100.0-100.0232015.0
British Columbia 9 2 5 350.0 80.0 43 87 -50.6
Bankruptcies 7 2 3 250.0 133.3 32 55 -41.8
Proposals 2 0 2 -- 0.0 11 32 -65.6
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Canada159230119-30.933.61,9822,033-2.5
Bankruptcies140190104-26.334.61,6561,6192.3
Proposals194015-52.526.7326414-21.3
Table 3b: Insolvencies Filed by Individual Businesses
ProvinceVolume% Change12-Month Period Ending
January 2022December 2021January 2021Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-202201-31-2021% Change
Newfoundland and Labrador000----770.0
Bankruptcies000----770.0
Proposals000----00--
Prince Edward Island 0 1 0 -100.0 -- 3 0 --
Bankruptcies 0 1 0 -100.0 -- 2 0 --
Proposals 0 0 0 -- -- 1 0 --
Nova Scotia1110.00.011683.3
Bankruptcies101--0.08560.0
Proposals010-100.0--31200.0
New Brunswick 2 0 0 -- -- 5 10 -50.0
Bankruptcies 2 0 0 -- -- 5 4 25.0
Proposals 0 0 0 -- -- 0 6 -100.0
Quebec18151420.028.619617512.0
Bankruptcies87714.314.31141140.0
Proposals108725.042.9826134.4
Ontario 19 16 18 18.8 5.6 179 255 -29.8
Bankruptcies 14 8 9 75.0 55.6 103 153 -32.7
Proposals 5 8 9 -37.5 -44.4 76 102 -25.5
Manitoba121-50.00.01821-14.3
Bankruptcies1110.00.01519-21.1
Proposals010-100.0--3250.0
Saskatchewan 2 4 2 -50.0 0.0 33 31 6.5
Bankruptcies 2 4 2 -50.0 0.0 24 26 -7.7
Proposals 0 0 0 -- -- 9 5 80.0
Alberta5550.00.05865-10.8
Bankruptcies512400.0150.03444-22.7
Proposals043-100.0-100.0242114.3
British Columbia 6 1 3 500.0 100.0 38 38 0.0
Bankruptcies 5 0 3 -- 66.7 23 24 -4.2
Proposals 1 1 0 0.0 -- 15 14 7.1
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut000----00--
Bankruptcies000----00--
Proposals000----00--
Canada54454420.022.7548608-9.9
Bankruptcies38222572.752.0335396-15.4
Proposals162319-30.4-15.82132120.5
Table 4: Insolvencies byNAICS Economic Sectors, Canada
sectorVolume% Change12-Month Period Ending
January 2022December 2021January 2021Dec. 2021
to
Jan. 2022
Jan. 2020
to
Jan. 2022
01-31-202201-31-2021% Change
Agriculture, Forestry, Fishing and Hunting735133.340.05357-7.0
Bankruptcies53566.70.044440.0
Proposals200----913-30.8
Mining and Oil and Gas Extraction 4 0 6 -- -33.3 37 41 -9.8
Bankruptcies 4 0 2 -- 100.0 30 26 15.4
Proposals 0 0 4 -- -100.0 7 15 -53.3
Utilities000----35-40.0
Bankruptcies000----25-60.0
Proposals000----10--
Construction 29 37 28 -21.6 3.6 370 332 11.4
Bankruptcies 23 25 23 -8.0 0.0 277 258 7.4
Proposals 6 12 5 -50.0 20.0 93 74 25.7
Manufacturing20161625.025.02282222.7
Bankruptcies1710970.088.917916111.2
Proposals367-50.0-57.14961-19.7
Wholesale Trade 7 17 9 -58.8 -22.2 99 133 -25.6
Bankruptcies 5 11 7 -54.5 -28.6 79 106 -25.5
Proposals 2 6 2 -66.7 0.0 20 27 -25.9
Retail Trade23279-14.8155.6269346-22.3
Bankruptcies21249-12.5133.3213250-14.8
Proposals230-33.3--5696-41.7
Transportation and Warehousing 19 22 9 -13.6 111.1 200 145 37.9
Bankruptcies 17 16 8 6.3 112.5 165 114 44.7
Proposals 2 6 1 -66.7 100.0 35 31 12.9
Information and Cultural Industries235-33.3-60.03744-15.9
Bankruptcies125-50.0-80.03035-14.3
Proposals1100.0--79-22.2
Finance and Insurance 1 5 10 -80.0 -90.0 44 45 -2.2
Bankruptcies 1 4 10 -75.0 -90.0 35 36 -2.8
Proposals 0 1 0 -100.0 -- 9 9 0.0
Real Estate and Rental and Leasing5169-68.8-44.4114135-15.6
Bankruptcies577-28.6-28.68297-15.5
Proposals092-100.0-100.03238-15.8
Professional, Scientific and Technical Services 16 19 15 -15.8 6.7 171 183 -6.6
Bankruptcies 11 16 12 -31.3 -8.3 140 142 -1.4
Proposals 5 3 3 66.7 66.7 31 41 -24.4
Management of Companies and Enterprises783-12.5133.36892-26.1
Bankruptcies672-14.3200.05365-18.5
Proposals1110.00.01527-44.4
Administrative and Support, Waste Management and Remediation Services 12 20 8 -40.0 50.0 149 116 28.4
Bankruptcies 8 15 6 -46.7 33.3 110 82 34.1
Proposals 4 5 2 -20.0 100.0 39 34 14.7
Educational Services3310.0200.02836-22.2
Bankruptcies2210.0100.02230-26.7
Proposals1100.0--660.0
Health Care and Social Assistance 10 7 2 42.9 400.0 74 62 19.4
Bankruptcies 9 7 2 28.6 350.0 55 49 12.2
Proposals 1 0 0 -- -- 19 13 46.2
Arts, Entertainment and Recreation107442.9150.074108-31.5
Bankruptcies86233.3300.05584-34.5
Proposals212100.00.01924-20.8
Accommodation and Food Services 24 53 14 -54.7 71.4 377 408 -7.6
Bankruptcies 24 48 11 -50.0 118.2 309 330 -6.4
Proposals 0 5 3 -100.0 -100.0 68 78 -12.8
Other Services (except Public Administration)14121016.740.01301281.6
Bankruptcies119822.237.5106997.1
Proposals3320.050.02429-17.2
Public Administration 0 0 0 -- -- 4 3 33.3
Bankruptcies 0 0 0 -- -- 4 2 100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Canada213275163-22.530.72,5292,641-4.2
Bankruptcies178212129-16.038.01,9902,015-1.2
Proposals356334-44.42.9539626-13.9