Insolvency Statistics in Canada—June 2018 (br03949)

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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.

NAICS: North American Industry Classification System.

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
ProvinceVolume% Change12-Month Period Ending
June 2018May 2018June 2017May 2018
to
June 2018
June 2017
to
June 2018
06-30-201806-30-2017% Change
Newfoundland and Labrador250269217-7.115.22,6972,43610.7
Bankruptcies14112412613.711.91,3641,468-7.1
Proposals10914591-24.819.81,33396837.7
Prince Edward Island576960-17.4-5.0719752-4.4
Bankruptcies344442-22.7-19.0423466-9.2
Proposals232518-8.027.82962863.5
Nova Scotia522539483-3.28.15,6986,003-5.1
Bankruptcies329352348-6.5-5.53,6254,128-12.2
Proposals1931871353.243.02,0731,87510.6
New Brunswick375423381-11.3-1.64,3634,464-2.3
Bankruptcies188214223-12.1-15.72,2932,742-16.4
Proposals187209158-10.518.42,0701,72220.2
Quebec3,4203,9773,724-14.0-8.243,58244,096-1.2
Bankruptcies1,7822,1772,057-18.1-13.423,29124,941-6.6
Proposals1,6381,8001,667-9.0-1.720,29119,1555.9
Ontario3,2733,6793,368-11.0-2.838,81939,522-1.8
Bankruptcies1,3171,4861,402-11.4-6.115,50416,668-7.0
Proposals1,9562,1931,966-10.8-0.523,31522,8542.0
Manitoba30822424137.527.82,7302,5955.2
Bankruptcies16011111944.134.51,4231,3922.2
Proposals14811312231.021.31,3071,2038.6
Saskatchewan2822822670.05.63,3113,1863.9
Bankruptcies103109130-5.5-20.81,3441,504-10.6
Proposals1791731373.530.71,9671,68216.9
Alberta1,3611,2851,1755.915.814,01213,3614.9
Bankruptcies457462447-1.12.25,0185,346-6.1
Proposals9048237289.824.28,9948,01512.2
British Columbia875961928-8.9-5.710,06810,332-2.6
Bankruptcies355402396-11.7-10.44,1084,525-9.2
Proposals520559532-7.0-2.35,9605,8072.6
Northwest Territories1232300.0500.01036363.5
Bankruptcies722250.0250.0633485.3
Proposals510400.0n/a402937.9
Yukon3320.050.040385.3
Bankruptcies202n/a0.01620-20.0
Proposals130-66.7n/a241833.3
Nunavut010-100.0n/a63100.0
Bankruptcies000n/an/a21100.0
Proposals010-100.0n/a42100.0
Canada10,73811,71510,848-8.3-1.0126,148126,851-0.6
Bankruptcies4,8755,4835,294-11.1-7.958,47463,235-7.5
Proposals5,8636,2325,554-5.95.667,67463,6166.4
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
June 2018May 2018June 2017May 2018
to
June 2018
June 2017
to
June 2018
06-30-201806-30-2017% Change
Newfoundland and Labrador249268214-7.116.42,6732,40111.3
Bankruptcies14012312313.813.81,3461,442-6.7
Proposals10914591-24.819.81,32795938.4
Prince Edward Island566958-18.8-3.4715738-3.1
Bankruptcies334440-25.0-17.5419455-7.9
Proposals232518-8.027.82962834.6
Nova Scotia520536477-3.09.05,6485,944-5.0
Bankruptcies328349342-6.0-4.13,5864,077-12.0
Proposals1921871352.742.22,0621,86710.4
New Brunswick370420374-11.9-1.14,3174,406-2.0
Bankruptcies183211217-13.3-15.72,2562,694-16.3
Proposals187209157-10.519.12,0611,71220.4
Quebec3,2663,7863,542-13.7-7.841,54042,003-1.1
Bankruptcies1,6662,0511,916-18.8-13.021,76723,355-6.8
Proposals1,6001,7351,626-7.8-1.619,77318,6486.0
Ontario3,1973,5963,315-11.1-3.637,90638,646-1.9
Bankruptcies1,2651,4221,364-11.0-7.314,83016,023-7.4
Proposals1,9322,1741,951-11.1-1.023,07622,6232.0
Manitoba30622223837.828.62,6992,5495.9
Bankruptcies15910911745.935.91,3981,3553.2
Proposals14711312130.121.51,3011,1949.0
Saskatchewan2772722571.87.83,1963,0624.4
Bankruptcies99103123-3.9-19.51,2591,411-10.8
Proposals1781691345.332.81,9371,65117.3
Alberta1,3471,2711,1576.016.413,81413,1684.9
Bankruptcies445452435-1.52.34,8835,207-6.2
Proposals90281972210.124.98,9317,96112.2
British Columbia871953918-8.6-5.19,95610,157-2.0
Bankruptcies352396387-11.1-9.04,0244,386-8.3
Proposals519557531-6.8-2.35,9325,7712.8
Northwest Territories1232300.0500.01036266.1
Bankruptcies722250.0250.0633390.9
Proposals510400.0n/a402937.9
Yukon3320.050.040385.3
Bankruptcies202n/a0.01620-20.0
Proposals130-66.7n/a241833.3
Nunavut010-100.0n/a63100.0
Bankruptcies000n/an/a21100.0
Proposals010-100.0n/a42100.0
Canada10,47411,40010,554-8.1-0.8122,613123,177-0.5
Bankruptcies4,6795,2625,068-11.1-7.755,84960,459-7.6
Proposals5,7956,1385,486-5.65.666,76462,7186.5
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
June 2018May 2018June 2017May 2018
to
June 2018
June 2017
to
June 2018
06-30-201806-30-2017% Change
Newfoundland and Labrador1130.0-66.72435-31.4
Bankruptcies1130.0-66.71826-30.8
Proposals000n/an/a69-33.3
Prince Edward Island102n/a-50.0414-71.4
Bankruptcies102n/a-50.0411-63.6
Proposals000n/an/a03-100.0
Nova Scotia236-33.3-66.75059-15.3
Bankruptcies136-66.7-83.33951-23.5
Proposals100n/an/a11837.5
New Brunswick53766.7-28.64658-20.7
Bankruptcies53666.7-16.73748-22.9
Proposals001n/a-100.0910-10.0
Quebec154191182-19.4-15.42,0422,093-2.4
Bankruptcies116126141-7.9-17.71,5241,586-3.9
Proposals386541-41.5-7.35185072.2
Ontario768353-8.443.49138764.2
Bankruptcies526438-18.836.86746454.5
Proposals24191526.360.02392313.5
Manitoba2230.0-33.33146-32.6
Bankruptcies122-50.0-50.02537-32.4
Proposals101n/a0.069-33.3
Saskatchewan51010-50.0-50.0115124-7.3
Bankruptcies467-33.3-42.98593-8.6
Proposals143-75.0-66.73031-3.2
Alberta1414180.0-22.21981932.6
Bankruptcies12101220.00.0135139-2.9
Proposals246-50.0-66.7635416.7
British Columbia4810-50.0-60.0112175-36.0
Bankruptcies369-50.0-66.784139-39.6
Proposals121-50.00.02836-22.2
Northwest Territories000n/an/a01-100.0
Bankruptcies000n/an/a01-100.0
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
Canada264315294-16.2-10.23,5353,674-3.8
Bankruptcies196221226-11.3-13.32,6252,776-5.4
Proposals689468-27.70.09108981.3
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
June 2018May 2018June 2017May 2018
to
June 2018
June 2017
to
June 2018
06-30-201806-30-2017% Change
Agriculture, Forestry, Fishing and Hunting782-12.5250.06982-15.9
Bankruptcies572-28.6150.04959-16.9
Proposals210100.0n/a2023-13.0
Mining and Oil and Gas Extraction122-50.0-50.03670-48.6
Bankruptcies1120.0-50.02248-54.2
Proposals010-100.0n/a1422-36.4
Utilities000n/an/a880.0
Bankruptcies000n/an/a7616.7
Proposals000n/an/a12-50.0
Construction457159-36.6-23.76996861.9
Bankruptcies325147-37.3-31.9497498-0.2
Proposals132012-35.08.32021887.4
Manufacturing2524304.2-16.7304313-2.9
Bankruptcies1514237.1-34.8200224-10.7
Proposals101070.042.91048916.9
Wholesale Trade1581787.5-11.8159181-12.2
Bankruptcies1281450.0-14.3121138-12.3
Proposals303n/a0.03843-11.6
Retail Trade263130-16.1-13.3378399-5.3
Bankruptcies222323-4.3-4.33102964.7
Proposals487-50.0-42.968103-34.0
Transportation and Warehousing19151626.718.8214238-10.1
Bankruptcies15101450.07.1169184-8.2
Proposals452-20.0100.04554-16.7
Information and Cultural Industries925350.080.06170-12.9
Bankruptcies613500.0100.051502.0
Proposals312200.050.01020-50.0
Finance and Insurance365-50.0-40.05960-1.7
Bankruptcies2250.0-60.04057-29.8
Proposals140-75.0n/a193533.3
Real Estate and Rental and Leasing81714-52.9-42.9141143-1.4
Bankruptcies81410-42.9-20.01101036.8
Proposals034-100.0-100.03140-22.5
Professional, Scientific and Technical Services212823-25.0-8.7259267-3.0
Bankruptcies151617-6.3-11.8196205-4.4
Proposals6126-50.00.063621.6
Management of Companies and Enterprises641050.0-40.080800.0
Bankruptcies64750.0-14.3625610.7
Proposals003n/a-100.01824-25.0
Administrative and Support, Waste Management and Remediation Services11188-38.937.5149185-19.5
Bankruptcies10116-9.166.7109144-24.3
Proposals172-85.7-50.04041-2.4
Educational Services202n/a0.02539-35.9
Bankruptcies202n/a0.01932-40.6
Proposals000n/an/a67-14.3
Health Care and Social Assistance499-55.6-55.679781.3
Bankruptcies146-75.0-83.35559-6.8
Proposals353-40.00.0241926.3
Arts, Entertainment and Recreation7750.040.0826820.6
Bankruptcies563-16.766.7625024.0
Proposals212100.00.0201811.1
Accommodation and Food Services444544-2.20.05515392.2
Bankruptcies303330-9.10.0396427-7.3
Proposals14121416.70.015511238.4
Other Services (except Public Administration)111913-42.1-15.41781639.2
Bankruptcies91512-40.0-25.01471368.1
Proposals241-50.0100.0312714.8
Public Administration010-100.0n/a45-20.0
Bankruptcies010-100.0n/a34-25.0
Proposals000n/an/a110.0
Total264315294-16.2-10.23,5353,674-3.8
Bankruptcies196221226-11.3-13.32,6252,776-5.4
Proposals689468-27.70.09108981.3