Insolvency Statistics in Canada—July 2020

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.

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
- Volume % Change 12-Month Period Ending
July
2020
June
2020
July
2019
Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Newfoundland and Labrador  126 106 280 18.9 -55.0 2,385 3,141 -24.1
Bankruptcies 50 51 139 -2.0 -64.0 1,088 1,490 -27.0
Proposals 76 55 141 38.2 -46.1 1,297 1,651 -21.4
Prince Edward Island 34 24 64 41.7 -46.9 581 737 -21.2
Bankruptcies 14 12 39 16.7 -64.1 294 396 -25.8
Proposals 20 12 25 66.7 -20.0 287 341 -15.8
Nova Scotia 229 206 495 11.2 -53.7 4,772 5,838 -18.3
Bankruptcies 121 102 254 18.6 -52.4 2,322 3,392 -31.5
Proposals 108 104 241 3.8 -55.2 2,450 2,446 0.2
New Brunswick 222 210 426 5.7 -47.9 4,030 4,832 -16.6
Bankruptcies 111 91 206 22.0 -46.1 1,837 2,387 -23.0
Proposals 111 119 220 -6.7 -49.5 2,193 2,445 -10.3
Quebec 1,807 1,753 3,558 3.1 -49.2 36,521 44,179 -17.3
Bankruptcies 869 858 1,734 1.3 -49.9 16,931 22,024 -23.1
Proposals 938 895 1,824 4.8 -48.6 19,590 22,155 -11.6
Ontario 2,548 2,429 3,975 4.9 -35.9 40,800 42,816 -4.7
Bankruptcies 692 696 1,309 -0.6 -47.1 12,322 15,128 -18.5
Proposals 1,856 1,733 2,666 7.1 -30.4 28,478 27,688 2.9
Manitoba 154 198 265 -22.2 -41.9 2,925 3,081 -5.1
Bankruptcies 58 64 127 -9.4 -54.3 1,011 1,442 -29.9
Proposals 96 134 138 -28.4 -30.4 1,914 1,639 16.8
Saskatchewan 160 178 297 -10.1 -46.1 3,152 3,504 -10.0
Bankruptcies 52 64 101 -18.8 -48.5 1,187 1,348 -11.9
Proposals 108 114 196 -5.3 -44.9 1,965 2,156 -8.9
Alberta 889 878 1,435 1.3 -38.0 15,180 15,956 -4.9
Bankruptcies 298 260 496 14.6 -39.9 4,659 5,471 -14.8
Proposals 591 618 939 -4.4 -37.1 10,521 10,485 0.3
British Columbia 624 607 1,020 2.8 -38.8 10,002 10,797 -7.4
Bankruptcies 196 174 394 12.6 -50.3 3,473 4,122 -15.7
Proposals 428 433 626 -1.2 -31.6 6,529 6,675 -2.2
Northwest Territories 7 7 8 0.0 -12.5 59 66 -10.6
Bankruptcies 0 3 2 -100.0 -100.0 13 22 -40.9
Proposals 7 4 6 75.0 16.7 46 44 4.5
Yukon 1 3 2 -66.7 -50.0 36 32 12.5
Bankruptcies 0 1 1 -100.0 -100.0 14 11 27.3
Proposals 1 2 1 -50.0 0.0 22 21 4.8
Nunavut 2 0 0 n/a n/a 9 5 80.0
Bankruptcies 1 0 0 n/a n/a 3 0 n/a
Proposals 1 0 0 n/a n/a 6 5 20.0
Canada 6,803 6,599 11,825 3.1 -42.5 120,452 134,984 -10.8
Bankruptcies 2,462 2,376 4,802 3.6 -48.7 45,154 57,233 -21.1
Proposals 4,341 4,223 7,023 2.8 -38.2 75,298 77,751 -3.2
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
July 2020 June 2020 July 2019 Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Newfoundland and Labrador  124 105 277 18.1 -55.2 2,363 3,101 -23.8
Bankruptcies 48 50 137 -4.0 -65.0 1,071 1,454 -26.3
Proposals 76 55 140 38.2 -45.7 1,292 1,647 -21.6
Prince Edward Island 34 24 64 41.7 -46.9 574 730 -21.4
Bankruptcies 14 12 39 16.7 -64.1 289 390 -25.9
Proposals 20 12 25 66.7 -20.0 285 340 -16.2
Nova Scotia 228 205 488 11.2 -53.3 4,738 5,777 -18.0
Bankruptcies 120 101 249 18.8 -51.8 2,292 3,344 -31.5
Proposals 108 104 239 3.8 -54.8 2,446 2,433 0.5
New Brunswick 219 205 417 6.8 -47.5 4,009 4,781 -16.1
Bankruptcies 109 88 201 23.9 -45.8 1,821 2,350 -22.5
Proposals 110 117 216 -6.0 -49.1 2,188 2,431 -10.0
Quebec 1,679 1,604 3,379 4.7 -50.3 34,735 41,982 -17.3
Bankruptcies 763 740 1,593 3.1 -52.1 15,591 20,326 -23.3
Proposals 916 864 1,786 6.0 -48.7 19,144 21,656 -11.6
Ontario 2,482 2,374 3,896 4.5 -36.3 39,995 41,860 -4.5
Bankruptcies 643 654 1,255 -1.7 -48.8 11,756 14,437 -18.6
Proposals 1,839 1,720 2,641 6.9 -30.4 28,239 27,423 3.0
Manitoba 153 193 263 -20.7 -41.8 2,887 3,047 -5.3
Bankruptcies 57 59 126 -3.4 -54.8 981 1,413 -30.6
Proposals 96 134 137 -28.4 -29.9 1,906 1,634 16.6
Saskatchewan 159 174 288 -8.6 -44.8 3,068 3,407 -10.0
Bankruptcies 51 61 95 -16.4 -46.3 1,123 1,293 -13.1
Proposals 108 113 193 -4.4 -44.0 1,945 2,114 -8.0
Alberta 879 864 1,406 1.7 -37.5 14,996 15,729 -4.7
Bankruptcies 288 250 476 15.2 -39.5 4,524 5,300 -14.6
Proposals 591 614 930 -3.7 -36.5 10,472 10,429 0.4
British Columbia 619 591 1,001 4.7 -38.2 9,882 10,671 -7.4
Bankruptcies 192 166 378 15.7 -49.2 3,405 4,033 -15.6
Proposals 427 425 623 0.5 -31.5 6,477 6,638 -2.4
Northwest Territories 7 7 8 0.0 -12.5 57 66 -13.6
Bankruptcies 0 3 2 -100.0 -100.0 12 22 -45.5
Proposals 7 4 6 75.0 16.7 45 44 2.3
Yukon 1 3 2 -66.7 -50.0 36 32 12.5
Bankruptcies 0 1 1 -100.0 -100.0 14 11 27.3
Proposals 1 2 1 -50.0 0.0 22 21 4.8
Nunavut 1 0 0 n/a n/a 6 5 20.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 1 0 0 n/a n/a 6 5 20.0
Canada 6,585 6,349 11,489 3.7 -42.7 117,346 131,188 -10.6
Bankruptcies 2,285 2,185 4,552 4.6 -49.8 42,879 54,373 -21.1
Proposals 4,300 4,164 6,937 3.3 -38.0 74,467 76,815 -3.1
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
July 2020 June 2020 July 2019 Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Newfoundland and Labrador  2 1 3 100.0 -33.3 22 40 -45.0
Bankruptcies 2 1 2 100.0 0.0 17 36 -52.8
Proposals 0 0 1 n/a -100.0 5 4 25.0
Prince Edward Island 0 0 0 n/a n/a 7 7 0.0
Bankruptcies 0 0 0 n/a n/a 5 6 -16.7
Proposals 0 0 0 n/a n/a 2 1 100.0
Nova Scotia 1 1 7 0.0 -85.7 34 61 -44.3
Bankruptcies 1 1 5 0.0 -80.0 30 48 -37.5
Proposals 0 0 2 n/a -100.0 4 13 -69.2
New Brunswick 3 5 9 -40.0 -66.7 21 51 -58.8
Bankruptcies 2 3 5 -33.3 -60.0 16 37 -56.8
Proposals 1 2 4 -50.0 -75.0 5 14 -64.3
Quebec 128 149 179 -14.1 -28.5 1,786 2,197 -18.7
Bankruptcies 106 118 141 -10.2 -24.8 1,340 1,698 -21.1
Proposals 22 31 38 -29.0 -42.1 446 499 -10.6
Ontario 66 55 79 20.0 -16.5 805 956 -15.8
Bankruptcies 49 42 54 16.7 -9.3 566 691 -18.1
Proposals 17 13 25 30.8 -32.0 239 265 -9.8
Manitoba 1 5 2 -80.0 -50.0 38 34 11.8
Bankruptcies 1 5 1 -80.0 0.0 30 29 3.4
Proposals 0 0 1 n/a -100.0 8 5 60.0
Saskatchewan 1 4 9 -75.0 -88.9 84 97 -13.4
Bankruptcies 1 3 6 -66.7 -83.3 64 55 16.4
Proposals 0 1 3 -100.0 -100.0 20 42 -52.4
Alberta 10 14 29 -28.6 -65.5 184 227 -18.9
Bankruptcies 10 10 20 0.0 -50.0 135 171 -21.1
Proposals 0 4 9 -100.0 -100.0 49 56 -12.5
British Columbia 5 16 19 -68.8 -73.7 120 126 -4.8
Bankruptcies 4 8 16 -50.0 -75.0 68 89 -23.6
Proposals 1 8 3 -87.5 -66.7 52 37 40.5
Northwest Territories 0 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 0 n/a
Proposals 0 0 0 n/a n/a 1 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 1 0 0 n/a n/a 3 0 n/a
Bankruptcies 1 0 0 n/a n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 218 250 336 -12.8 -35.1 3,106 3,796 -18.2
Bankruptcies 177 191 250 -7.3 -29.2 2,275 2,860 -20.5
Proposals 41 59 86 -30.5 -52.3 831 936 -11.2
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
July 2020 June 2020 July 2019 Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Newfoundland and Labrador  0 1 2 -100.0 -100.0 8 15 -46.7
Bankruptcies 0 1 1 -100.0 -100.0 6 11 -45.5
Proposals 0 0 1 n/a -100.0 2 4 -50.0
Prince Edward Island 0 0 0 n/a n/a 3 2 50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 2 0 n/a
Nova Scotia 1 0 4 n/a -75.0 19 32 -40.6
Bankruptcies 1 0 2 n/a -50.0 15 24 -37.5
Proposals 0 0 2 n/a -100.0 4 8 -50.0
New Brunswick 2 4 6 -50.0 -66.7 17 31 -45.2
Bankruptcies 2 3 3 -33.3 -33.3 14 25 -44.0
Proposals 0 1 3 -100.0 -100.0 3 6 -50.0
Quebec 115 144 158 -20.1 -27.2 1,574 1,923 -18.1
Bankruptcies 96 115 125 -16.5 -23.2 1,213 1,516 -20.0
Proposals 19 29 33 -34.5 -42.4 361 407 -11.3
Ontario 52 41 39 26.8 33.3 468 549 -14.8
Bankruptcies 40 36 26 11.1 53.8 354 408 -13.2
Proposals 12 5 13 140.0 -7.7 114 141 -19.1
Manitoba 0 2 0 -100.0 n/a 19 8 137.5
Bankruptcies 0 2 0 -100.0 n/a 13 7 85.7
Proposals 0 0 0 n/a n/a 6 1 500.0
Saskatchewan 1 1 2 0.0 -50.0 11 5 120.0
Bankruptcies 1 0 1 n/a 0.0 9 3 200.0
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Alberta 4 9 19 -55.6 -78.9 111 107 3.7
Bankruptcies 4 6 14 -33.3 -71.4 84 81 3.7
Proposals 0 3 5 -100.0 -100.0 27 26 3.8
British Columbia 2 13 6 -84.6 -66.7 66 54 22.2
Bankruptcies 1 7 5 -85.7 -80.0 38 31 22.6
Proposals 1 6 1 -83.3 0.0 28 23 21.7
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 1 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 1 0 0 n/a n/a 3 0 n/a
Bankruptcies 1 0 0 n/a n/a 3 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 178 215 236 -17.2 -24.6 2,300 2,726 -15.6
Bankruptcies 146 170 177 -14.1 -17.5 1,750 2,108 -17.0
Proposals 32 45 59 -28.9 -45.8 550 618 -11.0
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
July 2020 June 2020 July 2019 Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Newfoundland and Labrador  2 0 1 n/a 100.0 14 25 -44.0
Bankruptcies 2 0 1 n/a 100.0 11 25 -56.0
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 0 0 0 n/a n/a 4 5 -20.0
Bankruptcies 0 0 0 n/a n/a 4 4 0.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 0 1 3 -100.0 -100.0 15 29 -48.3
Bankruptcies 0 1 3 -100.0 -100.0 15 24 -37.5
Proposals 0 0 0 n/a n/a 0 5 -100.0
New Brunswick 1 1 3 0.0 -66.7 4 20 -80.0
Bankruptcies 0 0 2 n/a -100.0 2 12 -83.3
Proposals 1 1 1 0.0 0.0 2 8 -75.0
Quebec 13 5 21 160.0 -38.1 212 274 -22.6
Bankruptcies 10 3 16 233.3 -37.5 127 182 -30.2
Proposals 3 2 5 50.0 -40.0 85 92 -7.6
Ontario 14 14 40 0.0 -65.0 337 407 -17.2
Bankruptcies 9 6 28 50.0 -67.9 212 283 -25.1
Proposals 5 8 12 -37.5 -58.3 125 124 0.8
Manitoba 1 3 2 -66.7 -50.0 19 26 -26.9
Bankruptcies 1 3 1 -66.7 0.0 17 22 -22.7
Proposals 0 0 1 n/a -100.0 2 4 -50.0
Saskatchewan 0 3 7 -100.0 -100.0 73 92 -20.7
Bankruptcies 0 3 5 -100.0 -100.0 55 52 5.8
Proposals 0 0 2 n/a -100.0 18 40 -55.0
Alberta 6 5 10 20.0 -40.0 73 120 -39.2
Bankruptcies 6 4 6 50.0 0.0 51 90 -43.3
Proposals 0 1 4 -100.0 -100.0 22 30 -26.7
British Columbia 3 3 13 0.0 -76.9 54 72 -25.0
Bankruptcies 3 1 11 200.0 -72.7 30 58 -48.3
Proposals 0 2 2 -100.0 -100.0 24 14 71.4
Northwest Territories 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 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 40 35 100 14.3 -60.0 806 1,070 -24.7
Bankruptcies 31 21 73 47.6 -57.5 525 752 -30.2
Proposals 9 14 27 -35.7 -66.7 281 318 -11.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
July 2020 June 2020 July 2019 Jun. 2020
to
July 2020
July 2019
to
July 2020
07-31-2020 07-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting  5 7 2 -28.6 150.0 65 61 6.6
Bankruptcies 4 7 0 -42.9 n/a 46 42 9.5
Proposals 1 0 2 n/a -50.0 19 19 0.0
Mining and Oil and Gas Extraction 2 1 6 100.0 -66.7 25 43 -41.9
Bankruptcies 0 0 4 n/a -100.0 13 28 -53.6
Proposals 2 1 2 100.0 0.0 12 15 -20.0
Utilities 0 0 0 n/a n/a 7 6 16.7
Bankruptcies 0 0 0 n/a n/a 6 2 200.0
Proposals 0 0 0 n/a n/a 1 4 -75.0
Construction 21 29 69 -27.6 -69.6 472 725 -34.9
Bankruptcies 16 25 52 -36.0 -69.2 333 544 -38.8
Proposals 5 4 17 25.0 -70.6 139 181 -23.2
Manufacturing  12 22 29 -45.5 -58.6 287 330 -13.0
Bankruptcies 11 16 22 -31.3 -50.0 199 247 -19.4
Proposals 1 6 7 -83.3 -85.7 88 83 6.0
Wholesale Trade 11 17 12 -35.3 -8.3 159 178 -10.7
Bankruptcies 8 14 8 -42.9 0.0 116 129 -10.1
Proposals 3 3 4 0.0 -25.0 43 49 -12.2
Retail Trade 40 37 34 8.1 17.6 412 404 2.0
Bankruptcies 28 24 26 16.7 7.7 291 315 -7.6
Proposals 12 13 8 -7.7 50.0 121 89 36.0
Transportation and Warehousing 7 8 12 -12.5 -41.7 176 225 -21.8
Bankruptcies 6 6 9 0.0 -33.3 134 165 -18.8
Proposals 1 2 3 -50.0 -66.7 42 60 -30.0
Information and Cultural Industries 2 1 8 100.0 -75.0 55 81 -32.1
Bankruptcies 1 1 6 0.0 -83.3 41 60 -31.7
Proposals 1 0 2 n/a -50.0 14 21 -33.3
Finance and Insurance  3 4 3 -25.0 0.0 41 75 -45.3
Bankruptcies 3 3 2 0.0 50.0 33 60 -45.0
Proposals 0 1 1 -100.0 -100.0 8 15 -46.7
Real Estate and Rental and Leasing  10 13 16 -23.1 -37.5 144 160 -10.0
Bankruptcies 9 5 12 80.0 -25.0 95 113 -15.9
Proposals 1 8 4 -87.5 -75.0 49 47 4.3
Professional, Scientific and Technical Services 14 7 34 100.0 -58.8 200 282 -29.1
Bankruptcies 10 5 30 100.0 -66.7 144 223 -35.4
Proposals 4 2 4 100.0 0.0 56 59 -5.1
Management of Companies and Enterprises 6 10 12 -40.0 -50.0 86 94 -8.5
Bankruptcies 5 8 8 -37.5 -37.5 66 73 -9.6
Proposals 1 2 4 -50.0 -75.0 20 21 -4.8
Administrative and Support, Waste Management and Remediation Services 15 4 11 275.0 36.4 137 170 -19.4
Bankruptcies 12 3 6 300.0 100.0 93 111 -16.2
Proposals 3 1 5 200.0 -40.0 44 59 -25.4
Educational Services  3 8 3 -62.5 0.0 36 31 16.1
Bankruptcies 3 6 2 -50.0 50.0 28 23 21.7
Proposals 0 2 1 -100.0 -100.0 8 8 0.0
Health Care and Social Assistance 5 8 7 -37.5 -28.6 68 90 -24.4
Bankruptcies 4 8 3 -50.0 33.3 50 57 -12.3
Proposals 1 0 4 n/a -75.0 18 33 -45.5
Arts, Entertainment and Recreation 11 14 11 -21.4 0.0 105 71 47.9
Bankruptcies 11 11 9 0.0 22.2 86 55 56.4
Proposals 0 3 2 -100.0 -100.0 19 16 18.8
Accommodation and Food Services 35 52 48 -32.7 -27.1 451 557 -19.0
Bankruptcies 31 42 36 -26.2 -13.9 364 450 -19.1
Proposals 4 10 12 -60.0 -66.7 87 107 -18.7
Other Services (except Public Administration) 15 8 19 87.5 -21.1 179 212 -15.6
Bankruptcies 14 7 15 100.0 -6.7 136 162 -16.0
Proposals 1 1 4 0.0 -75.0 43 50 -14.0
Public Administration  1 0 0 n/a n/a 1 1 0.0
Bankruptcies 1 0 0 n/a n/a 1 1 0.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Total 218 250 336 -12.8 -35.1 3,106 3,796 -18.2
Bankruptcies 177 191 250 -7.3 -29.2 2,275 2,860 -20.5
Proposals 41 59 86 -30.5 -52.3 831 936 -11.2