Insolvency Statistics in Canada—July 2019 (br04125)

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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
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 280 281 216 -0.4 29.6 3,141 2,739 14.7
Bankruptcies 139 141 115 -1.4 20.9 1,490 1,387 7.4
Proposals 141 140 101 0.7 39.6 1,651 1,352 22.1
Prince Edward Island 64 62 59 3.2 8.5 737 726 1.5
Bankruptcies 39 28 36 39.3 8.3 396 430 -7.9
Proposals 25 34 23 -26.5 8.7 341 296 15.2
Nova Scotia 495 562 449 -11.9 10.2 5,838 5,639 3.5
Bankruptcies 254 309 293 -17.8 -13.3 3,392 3,574 -5.1
Proposals 241 253 156 -4.7 54.5 2,446 2,065 18.5
New Brunswick 426 463 398 -8.0 7.0 4,832 4,424 9.2
Bankruptcies 206 205 215 0.5 -4.2 2,387 2,311 3.3
Proposals 220 258 183 -14.7 20.2 2,445 2,113 15.7
Quebec 3,558 3,257 3,261 9.2 9.1 44,179 43,638 1.2
Bankruptcies 1,734 1,567 1,717 10.7 1.0 22,024 23,199 -5.1
Proposals 1,824 1,690 1,544 7.9 18.1 22,155 20,439 8.4
Ontario 3,975 3,686 3,245 7.8 22.5 42,816 39,090 9.5
Bankruptcies 1,309 1,265 1,276 3.5 2.6 15,128 15,597 -3.0
Proposals 2,666 2,421 1,969 10.1 35.4 27,688 23,493 17.9
Manitoba 265 277 212 -4.3 25.0 3,081 2,714 13.5
Bankruptcies 127 127 112 0.0 13.4 1,442 1,413 2.1
Proposals 138 150 100 -8.0 38.0 1,639 1,301 26.0
Saskatchewan 297 263 321 12.9 -7.5 3,504 3,387 3.5
Bankruptcies 101 100 118 1.0 -14.4 1,348 1,365 -1.2
Proposals 196 163 203 20.2 -3.4 2,156 2,022 6.6
Alberta 1,435 1,418 1,173 1.2 22.3 15,956 14,174 12.6
Bankruptcies 496 452 440 9.7 12.7 5,471 5,125 6.8
Proposals 939 966 733 -2.8 28.1 10,485 9,049 15.9
British Columbia 1,020 934 748 9.2 36.4 10,797 10,032 7.6
Bankruptcies 394 340 304 15.9 29.6 4,122 4,094 0.7
Proposals 626 594 444 5.4 41.0 6,675 5,938 12.4
Northwest Territories 8 4 3 100.0 166.7 66 103 -35.9
Bankruptcies 2 0 1 n/a 100.0 22 61 -63.9
Proposals 6 4 2 50.0 200.0 44 42 4.8
Yukon 2 4 2 -50.0 0.0 32 38 -15.8
Bankruptcies 1 0 0 n/a n/a 11 15 -26.7
Proposals 1 4 2 -75.0 -50.0 21 23 -8.7
Nunavut 0 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 5 4 25.0
Canada 11,825 11,211 10,087 5.5 17.2 134,984 126,710 6.5
Bankruptcies 4,802 4,534 4,627 5.9 3.8 57,233 58,573 -2.3
Proposals 7,023 6,677 5,460 5.2 28.6 77,751 68,137 14.1
Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 277 277 215 0.0 28.8 3,101 2,719 14.0
Bankruptcies 137 137 115 0.0 19.1 1,454 1,373 5.9
Proposals 140 140 100 0.0 40.0 1,647 1,346 22.4
Prince Edward Island 64 62 59 3.2 8.5 730 722 1.1
Bankruptcies 39 28 36 39.3 8.3 390 426 -8.5
Proposals 25 34 23 -26.5 8.7 340 296 14.9
Nova Scotia 488 555 446 -12.1 9.4 5,777 5,593 3.3
Bankruptcies 249 304 291 -18.1 -14.4 3,344 3,539 -5.5
Proposals 239 251 155 -4.8 54.2 2,433 2,054 18.5
New Brunswick 417 456 397 -8.6 5.0 4,781 4,381 9.1
Bankruptcies 201 198 214 1.5 -6.1 2,350 2,277 3.2
Proposals 216 258 183 -16.3 18.0 2,431 2,104 15.5
Quebec 3,379 3,090 3,118 9.4 8.4 41,982 41,584 1.0
Bankruptcies 1,593 1,438 1,607 10.8 -0.9 20,326 21,664 -6.2
Proposals 1,786 1,652 1,511 8.1 18.2 21,656 19,920 8.7
Ontario 3,896 3,616 3,169 7.7 22.9 41,860 38,182 9.6
Bankruptcies 1,255 1,220 1,222 2.9 2.7 14,437 14,932 -3.3
Proposals 2,641 2,396 1,947 10.2 35.6 27,423 23,250 17.9
Manitoba 263 274 209 -4.0 25.8 3,047 2,680 13.7
Bankruptcies 126 124 109 1.6 15.6 1,413 1,385 2.0
Proposals 137 150 100 -8.7 37.0 1,634 1,295 26.2
Saskatchewan 288 259 315 11.2 -8.6 3,407 3,272 4.1
Bankruptcies 95 100 117 -5.0 -18.8 1,293 1,284 0.7
Proposals 193 159 198 21.4 -2.5 2,114 1,988 6.3
Alberta 1,406 1,397 1,157 0.6 21.5 15,729 13,967 12.6
Bankruptcies 476 440 427 8.2 11.5 5,300 4,982 6.4
Proposals 930 957 730 -2.8 27.4 10,429 8,985 16.1
British Columbia 1,001 922 739 8.6 35.5 10,671 9,923 7.5
Bankruptcies 378 333 298 13.5 26.8 4,033 4,015 0.4
Proposals 623 589 441 5.8 41.3 6,638 5,908 12.4
Northwest Territories 8 4 3 100.0 166.7 66 103 -35.9
Bankruptcies 2 0 1 n/a 100.0 22 61 -63.9
Proposals 6 4 2 50.0 200.0 44 42 4.8
Yukon 2 4 2 -50.0 0.0 32 38 -15.8
Bankruptcies 1 0 0 n/a n/a 11 15 -26.7
Proposals 1 4 2 -75.0 -50.0 21 23 -8.7
Nunavut 0 0 0 n/a n/a 5 6 -16.7
Bankruptcies 0 0 0 n/a n/a 0 2 -100.0
Proposals 0 0 0 n/a n/a 5 4 25.0
Canada 11,489 10,916 9,829 5.2 16.9 131,188 123,170 6.5
Bankruptcies 4,552 4,322 4,437 5.3 2.6 54,373 55,955 -2.8
Proposals 6,937 6,594 5,392 5.2 28.7 76,815 67,215 14.3
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 3 4 1 -25.0 200.0 40 20 100.0
Bankruptcies 2 4 0 -50.0 n/a 36 14 157.1
Proposals 1 0 1 n/a 0.0 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 7 4 75.0
Bankruptcies 0 0 0 n/a n/a 6 4 50.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 7 7 3 0.0 133.3 61 46 32.6
Bankruptcies 5 5 2 0.0 150.0 48 35 37.1
Proposals 2 2 1 0.0 100.0 13 11 18.2
New Brunswick 9 7 1 28.6 800.0 51 43 18.6
Bankruptcies 5 7 1 -28.6 400.0 37 34 8.8
Proposals 4 0 0 n/a n/a 14 9 55.6
Quebec 179 167 143 7.2 25.2 2,197 2,054 7.0
Bankruptcies 141 129 110 9.3 28.2 1,698 1,535 10.6
Proposals 38 38 33 0.0 15.2 499 519 -3.9
Ontario 79 70 76 12.9 3.9 956 908 5.3
Bankruptcies 54 45 54 20.0 0.0 691 665 3.9
Proposals 25 25 22 0.0 13.6 265 243 9.1
Manitoba 2 3 3 -33.3 -33.3 34 34 0.0
Bankruptcies 1 3 3 -66.7 -66.7 29 28 3.6
Proposals 1 0 0 n/a n/a 5 6 -16.7
Saskatchewan 9 4 6 125.0 50.0 97 115 -15.7
Bankruptcies 6 0 1 n/a 500.0 55 81 -32.1
Proposals 3 4 5 -25.0 -40.0 42 34 23.5
Alberta 29 21 16 38.1 81.3 227 207 9.7
Bankruptcies 20 12 13 66.7 53.8 171 143 19.6
Proposals 9 9 3 0.0 200.0 56 64 -12.5
British Columbia 19 12 9 58.3 111.1 126 109 15.6
Bankruptcies 16 7 6 128.6 166.7 89 79 12.7
Proposals 3 5 3 -40.0 0.0 37 30 23.3
Northwest Territories 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 336 295 258 13.9 30.2 3,796 3,540 7.2
Bankruptcies 250 212 190 17.9 31.6 2,860 2,618 9.2
Proposals 86 83 68 3.6 26.5 936 922 1.5
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 2 0 1 n/a 100.0 15 11 36.4
Bankruptcies 1 0 0 n/a n/a 11 5 120.0
Proposals 1 0 1 n/a 0.0 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 2 1 100.0
Bankruptcies 0 0 0 n/a n/a 2 1 100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 4 5 2 -20.0 100.0 32 20 60.0
Bankruptcies 2 3 2 -33.3 0.0 24 15 60.0
Proposals 2 2 0 0.0 n/a 8 5 60.0
New Brunswick 6 4 1 50.0 500.0 31 25 24.0
Bankruptcies 3 4 1 -25.0 200.0 25 17 47.1
Proposals 3 0 0 n/a n/a 6 8 -25.0
Quebec 158 148 125 6.8 26.4 1,923 1,823 5.5
Bankruptcies 125 118 96 5.9 30.2 1,516 1,375 10.3
Proposals 33 30 29 10.0 13.8 407 448 -9.2
Ontario 39 34 50 14.7 -22.0 549 479 14.6
Bankruptcies 26 23 35 13.0 -25.7 408 361 13.0
Proposals 13 11 15 18.2 -13.3 141 118 19.5
Manitoba 0 2 0 -100.0 n/a 8 7 14.3
Bankruptcies 0 2 0 -100.0 n/a 7 4 75.0
Proposals 0 0 0 n/a n/a 1 3 -66.7
Saskatchewan 2 0 1 n/a 100.0 5 11 -54.5
Bankruptcies 1 0 0 n/a n/a 3 6 -50.0
Proposals 1 0 1 n/a 0.0 2 5 -60.0
Alberta 19 11 5 72.7 280.0 107 110 -2.7
Bankruptcies 14 5 5 180.0 180.0 81 67 20.9
Proposals 5 6 0 -16.7 n/a 26 43 -39.5
British Columbia 6 6 2 0.0 200.0 54 46 17.4
Bankruptcies 5 4 2 25.0 150.0 31 29 6.9
Proposals 1 2 0 -50.0 n/a 23 17 35.3
Northwest Territories 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 236 210 187 12.4 26.2 2,726 2,533 7.6
Bankruptcies 177 159 141 11.3 25.5 2,108 1,880 12.1
Proposals 59 51 46 15.7 28.3 618 653 -5.4
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
July 2019 June 2019 July 2018 June 2019
to
July 2019
July 2018
to
July 2019
07-31-2019 07-31-2018 % Change
Newfoundland and Labrador 1 4 0 -75.0 n/a 25 9 177.8
Bankruptcies 1 4 0 -75.0 n/a 25 9 177.8
Proposals 0 0 0 n/a n/a 0 0 n/a
Prince Edward Island 0 0 0 n/a n/a 5 3 66.7
Bankruptcies 0 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 3 2 1 50.0 200.0 29 26 11.5
Bankruptcies 3 2 0 50.0 n/a 24 20 20.0
Proposals 0 0 1 n/a -100.0 5 6 -16.7
New Brunswick 3 3 0 0.0 n/a 20 18 11.1
Bankruptcies 2 3 0 -33.3 n/a 12 17 -29.4
Proposals 1 0 0 n/a n/a 8 1 700.0
Quebec 21 19 18 10.5 16.7 274 231 18.6
Bankruptcies 16 11 14 45.5 14.3 182 160 13.8
Proposals 5 8 4 -37.5 25.0 92 71 29.6
Ontario 40 36 26 11.1 53.8 407 429 -5.1
Bankruptcies 28 22 19 27.3 47.4 283 304 -6.9
Proposals 12 14 7 -14.3 71.4 124 125 -0.8
Manitoba 2 1 3 100.0 -33.3 26 27 -3.7
Bankruptcies 1 1 3 0.0 -66.7 22 24 -8.3
Proposals 1 0 0 n/a n/a 4 3 33.3
Saskatchewan 7 4 5 75.0 40.0 92 104 -11.5
Bankruptcies 5 0 1 n/a 400.0 52 75 -30.7
Proposals 2 4 4 -50.0 -50.0 40 29 37.9
Alberta 10 10 11 0.0 -9.1 120 97 23.7
Bankruptcies 6 7 8 -14.3 -25.0 90 76 18.4
Proposals 4 3 3 33.3 33.3 30 21 42.9
British Columbia 13 6 7 116.7 85.7 72 63 14.3
Bankruptcies 11 3 4 266.7 175.0 58 50 16.0
Proposals 2 3 3 -33.3 -33.3 14 13 7.7
Northwest Territories 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 100 85 71 17.6 40.8 1,070 1,007 6.3
Bankruptcies 73 53 49 37.7 49.0 752 738 1.9
Proposals 27 32 22 -15.6 22.7 318 269 18.2
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sectorVolume% Change12-Month Period Ending
July 2019June 2019July 2018June 2019
to
July 2019
July 2018
to
July 2019
07-31-201907-31-2018% Change
Agriculture, Forestry, Fishing and Hunting212100.00.06169-11.6
Bankruptcies012-100.0-100.04249-14.3
Proposals200n/an/a1920-5.0
Mining and Oil and Gas Extraction671-14.3500.0433330.3
Bankruptcies450-20.0n/a282133.3
Proposals2210.0100.0151225.0
Utilities000n/an/a67-14.3
Bankruptcies000n/an/a26-66.7
Proposals000n/an/a41300.0
Construction69475446.827.87257181.0
Bankruptcies52293879.336.85445096.9
Proposals171816-5.66.3181209-13.4
Manufacturing2927247.420.83303077.5
Bankruptcies2221194.815.824720421.1
Proposals76516.740.083103-19.4
Wholesale Trade122018-40.0-33.31781667.2
Bankruptcies81511-46.7-27.31291234.9
Proposals457-20.0-42.9494314.0
Retail Trade34302913.317.24043825.8
Bankruptcies262724-3.78.33153101.6
Proposals835166.760.0897223.6
Transportation and Warehousing121419-14.3-36.82252154.7
Bankruptcies971428.6-35.7165169-2.4
Proposals375-57.1-40.0604630.4
Information and Cultural Industries8114-27.3100.0816132.8
Bankruptcies6620.0200.0604922.4
Proposals252-60.00.0211275.0
Finance and Insurance354-40.0-25.0755438.9
Bankruptcies243-50.0-33.3603953.8
Proposals1110.00.015150.0
Real Estate and Rental and Leasing1610760.0128.616013419.4
Bankruptcies1256140.0100.01131057.6
Proposals451-20.0300.0472962.1
Professional, Scientific and Technical Services34272225.954.52822627.6
Bankruptcies30241825.066.722319514.4
Proposals43433.30.05967-11.9
Management of Companies and Enterprises127771.471.4948214.6
Bankruptcies847100.014.3736512.3
Proposals43033.3n/a211723.5
Administrative and Support, Waste Management and Remediation Services11196-42.183.317014517.2
Bankruptcies6133-53.8100.01111055.7
Proposals563-16.766.7594047.5
Educational Services32350.00.0312714.8
Bankruptcies2210.0100.0232015.0
Proposals102n/a-50.08714.3
Health Care and Social Assistance7123-41.7133.3907520.0
Bankruptcies372-57.150.0575014.0
Proposals451-20.0300.0332532.0
Arts, Entertainment and Recreation116683.383.37183-14.5
Bankruptcies95580.080.05565-15.4
Proposals211100.0100.01618-11.1
Accommodation and Food Services48363633.333.35575413.0
Bankruptcies36272733.333.345039015.4
Proposals129933.333.3107151-29.1
Other Services (except Public Administration)19141235.758.321217421.8
Bankruptcies1510850.087.516214114.9
Proposals4440.00.0503351.5
Public Administration001n/a-100.015-80.0
Bankruptcies000n/an/a13-66.7
Proposals001n/a-100.002-100.0
Total33629525813.930.23,7963,5407.2
Bankruptcies25021219017.931.62,8602,6189.2
Proposals8683683.626.59369221.5