Insolvency Statistics in Canada—June 2019 (br04113)

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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
June 2019 May 2019 June 2018 May 2019
to
June 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 281 295 250 -4.7 12.4 3,077 2,697 14.1
Bankruptcies 141 130 141 8.5 0.0 1,466 1,364 7.5
Proposals 140 165 109 -15.2 28.4 1,611 1,333 20.9
Prince Edward Island 62 76 57 -18.4 8.8 732 719 1.8
Bankruptcies 28 37 34 -24.3 -17.6 393 423 -7.1
Proposals 34 39 23 -12.8 47.8 339 296 14.5
Nova Scotia 562 553 522 1.6 7.7 5,792 5,698 1.6
Bankruptcies 309 298 329 3.7 -6.1 3,431 3,625 -5.4
Proposals 253 255 193 -0.8 31.1 2,361 2,073 13.9
New Brunswick 463 429 375 7.9 23.5 4,804 4,363 10.1
Bankruptcies 205 231 188 -11.3 9.0 2,396 2,293 4.5
Proposals 258 198 187 30.3 38.0 2,408 2,070 16.3
Quebec 3,257 4,082 3,420 -20.2 -4.8 43,882 43,582 0.7
Bankruptcies 1,567 2,046 1,782 -23.4 -12.1 22,007 23,291 -5.5
Proposals 1,690 2,036 1,638 -17.0 3.2 21,875 20,291 7.8
Ontario 3,686 4,255 3,273 -13.4 12.6 42,086 38,819 8.4
Bankruptcies 1,265 1,524 1,317 -17.0 -3.9 15,095 15,504 -2.6
Proposals 2,421 2,731 1,956 -11.4 23.8 26,991 23,315 15.8
Manitoba 277 267 308 3.7 -10.1 3,028 2,730 10.9
Bankruptcies 127 136 160 -6.6 -20.6 1,427 1,423 0.3
Proposals 150 131 148 14.5 1.4 1,601 1,307 22.5
Saskatchewan 263 309 282 -14.9 -6.7 3,528 3,311 6.6
Bankruptcies 100 119 103 -16.0 -2.9 1,365 1,344 1.6
Proposals 163 190 179 -14.2 -8.9 2,163 1,967 10.0
Alberta 1,418 1,414 1,361 0.3 4.2 15,694 14,012 12.0
Bankruptcies 452 493 457 -8.3 -1.1 5,415 5,018 7.9
Proposals 966 921 904 4.9 6.9 10,279 8,994 14.3
British Columbia 934 1,001 875 -6.7 6.7 10,525 10,068 4.5
Bankruptcies 340 382 355 -11.0 -4.2 4,032 4,108 -1.9
Proposals 594 619 520 -4.0 14.2 6,493 5,960 8.9
Northwest Territories 4 4 12 0.0 -66.7 61 103 -40.8
Bankruptcies 0 0 7 n/a -100.0 21 63 -66.7
Proposals 4 4 5 0.0 -20.0 40 40 0.0
Yukon 4 6 3 -33.3 33.3 32 40 -20.0
Bankruptcies 0 3 2 -100.0 -100.0 10 16 -37.5
Proposals 4 3 1 33.3 300.0 22 24 -8.3
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 11,211 12,691 10,738 -11.7 4.4 133,246 126,148 5.6
Bankruptcies 4,534 5,399 4,875 -16.0 -7.0 57,058 58,474 -2.4
Proposals 6,677 7,292 5,863 -8.4 13.9 76,188 67,674 12.6
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2019 May 2019 June 2018 May 2019
to
June 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 277 291 249 -4.8 11.2 3,039 2,673 13.7
Bankruptcies 137 126 140 8.7 -2.1 1,432 1,346 6.4
Proposals 140 165 109 -15.2 28.4 1,607 1,327 21.1
Prince Edward Island 62 74 56 -16.2 10.7 725 715 1.4
Bankruptcies 28 35 33 -20.0 -15.2 387 419 -7.6
Proposals 34 39 23 -12.8 47.8 338 296 14.2
Nova Scotia 555 548 520 1.3 6.7 5,735 5,648 1.5
Bankruptcies 304 294 328 3.4 -7.3 3,386 3,586 -5.6
Proposals 251 254 192 -1.2 30.7 2,349 2,062 13.9
New Brunswick 456 425 370 7.3 23.2 4,761 4,317 10.3
Bankruptcies 198 228 183 -13.2 8.2 2,363 2,256 4.7
Proposals 258 197 187 31.0 38.0 2,398 2,061 16.4
Quebec 3,090 3,905 3,266 -20.9 -5.4 41,721 41,540 0.4
Bankruptcies 1,438 1,920 1,666 -25.1 -13.7 20,340 21,767 -6.6
Proposals 1,652 1,985 1,600 -16.8 3.3 21,381 19,773 8.1
Ontario 3,616 4,172 3,197 -13.3 13.1 41,133 37,906 8.5
Bankruptcies 1,220 1,456 1,265 -16.2 -3.6 14,404 14,830 -2.9
Proposals 2,396 2,716 1,932 -11.8 24.0 26,729 23,076 15.8
Manitoba 274 263 306 4.2 -10.5 2,993 2,699 10.9
Bankruptcies 124 133 159 -6.8 -22.0 1,396 1,398 -0.1
Proposals 150 130 147 15.4 2.0 1,597 1,301 22.8
Saskatchewan 259 295 277 -12.2 -6.5 3,434 3,196 7.4
Bankruptcies 100 111 99 -9.9 1.0 1,315 1,259 4.4
Proposals 159 184 178 -13.6 -10.7 2,119 1,937 9.4
Alberta 1,397 1,401 1,347 -0.3 3.7 15,480 13,814 12.1
Bankruptcies 440 482 445 -8.7 -1.1 5,251 4,883 7.5
Proposals 957 919 902 4.1 6.1 10,229 8,931 14.5
British Columbia 922 991 871 -7.0 5.9 10,409 9,956 4.6
Bankruptcies 333 375 352 -11.2 -5.4 3,953 4,024 -1.8
Proposals 589 616 519 -4.4 13.5 6,456 5,932 8.8
Northwest Territories 4 4 12 0.0 -66.7 61 103 -40.8
Bankruptcies 0 0 7 n/a -100.0 21 63 -66.7
Proposals 4 4 5 0.0 -20.0 40 40 0.0
Yukon 4 6 3 -33.3 33.3 32 40 -20.0
Bankruptcies 0 3 2 -100.0 -100.0 10 16 -37.5
Proposals 4 3 1 33.3 300.0 22 24 -8.3
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 10,916 12,375 10,474 -11.8 4.2 129,528 122,613 5.6
Bankruptcies 4,322 5,163 4,679 -16.3 -7.6 54,258 55,849 -2.8
Proposals 6,594 7,212 5,795 -8.6 13.8 75,270 66,764 12.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2019 May 2019 June 2018 May 2019
to
une 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 4 4 1 0.0 300.0 38 24 58.3
Bankruptcies 4 4 1 0.0 300.0 34 18 88.9
Proposals 0 0 0 n/a n/a 4 6 -33.3
Prince Edward Island 0 2 1 -100.0 -100.0 7 4 75.0
Bankruptcies 0 2 1 -100.0 -100.0 6 4 50.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 7 5 2 40.0 250.0 57 50 14.0
Bankruptcies 5 4 1 25.0 400.0 45 39 15.4
Proposals 2 1 1 100.0 100.0 12 11 9.1
New Brunswick 7 4 5 75.0 40.0 43 46 -6.5
Bankruptcies 7 3 5 133.3 40.0 33 37 -10.8
Proposals 0 1 0 -100.0 n/a 10 9 11.1
Quebec 167 177 154 -5.6 8.4 2,161 2,042 5.8
Bankruptcies 129 126 116 2.4 11.2 1,667 1,524 9.4
Proposals 38 51 38 -25.5 0.0 494 518 -4.6
Ontario 70 83 76 -15.7 -7.9 953 913 4.4
Bankruptcies 45 68 52 -33.8 -13.5 691 674 2.5
Proposals 25 15 24 66.7 4.2 262 239 9.6
Manitoba 3 4 2 -25.0 50.0 35 31 12.9
Bankruptcies 3 3 1 0.0 200.0 31 25 24.0
Proposals 0 1 1 -100.0 -100.0 4 6 -33.3
Saskatchewan 4 14 5 -71.4 -20.0 94 115 -18.3
Bankruptcies 0 8 4 -100.0 -100.0 50 85 -41.2
Proposals 4 6 1 -33.3 300.0 44 30 46.7
Alberta 21 13 14 61.5 50.0 214 198 8.1
Bankruptcies 12 11 12 9.1 0.0 164 135 21.5
Proposals 9 2 2 350.0 350.0 50 63 -20.6
British Columbia 12 10 4 20.0 200.0 116 112 3.6
Bankruptcies 7 7 3 0.0 133.3 79 84 -6.0
Proposals 5 3 1 66.7 400.0 37 28 32.1
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 295 316 264 -6.6 11.7 3,718 3,535 5.2
Bankruptcies 212 236 196 -10.2 8.2 2,800 2,625 6.7
Proposals 83 80 68 3.8 22.1 918 910 0.9
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
June 2019 May 2019 June 2018 May 2019
to
June 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 0 0 0 n/a n/a 14 13 7.7
Bankruptcies 0 0 0 n/a n/a 10 8 25.0
Proposals 0 0 0 n/a n/a 4 5 -20.0
Prince Edward Island 0 0 1 n/a -100.0 2 1 100.0
Bankruptcies 0 0 1 n/a -100.0 2 1 100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 5 1 0 400.0 n/a 30 19 57.9
Bankruptcies 3 1 0 200.0 n/a 24 13 84.6
Proposals 2 0 0 n/a n/a 6 6 0.0
New Brunswick 4 4 2 0.0 100.0 26 27 -3.7
Bankruptcies 4 3 2 33.3 100.0 23 19 21.1
Proposals 0 1 0 -100.0 n/a 3 8 -62.5
Quebec 148 160 140 -7.5 5.7 1,890 1,804 4.8
Bankruptcies 118 115 106 2.6 11.3 1,487 1,358 9.5
Proposals 30 45 34 -33.3 -11.8 403 446 -9.6
Ontario 34 49 44 -30.6 -22.7 560 480 16.7
Bankruptcies 23 42 32 -45.2 -28.1 417 367 13.6
Proposals 11 7 12 57.1 -8.3 143 113 26.5
Manitoba 2 3 1 -33.3 100.0 8 7 14.3
Bankruptcies 2 2 0 0.0 n/a 7 4 75.0
Proposals 0 1 1 -100.0 -100.0 1 3 -66.7
Saskatchewan 0 1 1 -100.0 -100.0 4 11 -63.6
Bankruptcies 0 0 1 n/a -100.0 2 7 -71.4
Proposals 0 1 0 -100.0 n/a 2 4 -50.0
Alberta 11 3 6 266.7 83.3 93 112 -17.0
Bankruptcies 5 3 4 66.7 25.0 72 67 7.5
Proposals 6 0 2 n/a 200.0 21 45 -53.3
British Columbia 6 5 1 20.0 500.0 50 46 8.7
Bankruptcies 4 3 1 33.3 300.0 28 29 -3.4
Proposals 2 2 0 0.0 n/a 22 17 29.4
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 210 226 196 -7.1 7.1 2,677 2,520 6.2
Bankruptcies 159 169 147 -5.9 8.2 2,072 1,873 10.6
Proposals 51 57 49 -10.5 4.1 605 647 -6.5
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
June 2019 May 2019 June 2018 May 2019
to
June 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Newfoundland and Labrador 4 4 1 0.0 300.0 24 11 118.2
Bankruptcies 4 4 1 0.0 300.0 24 10 140.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 0 2 0 -100.0 n/a 5 3 66.7
Bankruptcies 0 2 0 -100.0 n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 2 4 2 -50.0 0.0 27 31 -12.9
Bankruptcies 2 3 1 -33.3 100.0 21 26 -19.2
Proposals 0 1 1 -100.0 -100.0 6 5 20.0
New Brunswick 3 0 3 n/a 0.0 17 19 -10.5
Bankruptcies 3 0 3 n/a 0.0 10 18 -44.4
Proposals 0 0 0 n/a n/a 7 1 600.0
Quebec 19 17 14 11.8 35.7 271 238 13.9
Bankruptcies 11 11 10 0.0 10.0 180 166 8.4
Proposals 8 6 4 33.3 100.0 91 72 26.4
Ontario 36 34 32 5.9 12.5 393 433 -9.2
Bankruptcies 22 26 20 -15.4 10.0 274 307 -10.7
Proposals 14 8 12 75.0 16.7 119 126 -5.6
Manitoba 1 1 1 0.0 0.0 27 24 12.5
Bankruptcies 1 1 1 0.0 0.0 24 21 14.3
Proposals 0 0 0 n/a n/a 3 3 0.0
Saskatchewan 4 13 4 -69.2 0.0 90 104 -13.5
Bankruptcies 0 8 3 -100.0 -100.0 48 78 -38.5
Proposals 4 5 1 -20.0 300.0 42 26 61.5
Alberta 10 10 8 0.0 25.0 121 86 40.7
Bankruptcies 7 8 8 -12.5 -12.5 92 68 35.3
Proposals 3 2 0 50.0 n/a 29 18 61.1
British Columbia 6 5 3 20.0 100.0 66 66 0.0
Bankruptcies 3 4 2 -25.0 50.0 51 55 -7.3
Proposals 3 1 1 200.0 200.0 15 11 36.4
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 85 90 68 -5.6 25.0 1,041 1,015 2.6
Bankruptcies 53 67 49 -20.9 8.2 728 752 -3.2
Proposals 32 23 19 39.1 68.4 313 263 19.0
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
June 2019 May 2019 June 2018 May 2019
to
June 2019
June 2018
to
June 2019
06-30-2019 06-30-2018 % Change
Agriculture, Forestry, Fishing and Hunting 1 4 7 -75.0 -85.7 61 69 -11.6
Bankruptcies 1 3 5 -66.7 -80.0 44 49 -10.2
Proposals 0 1 2 -100.0 -100.0 17 20 -15.0
Mining and Oil and Gas Extraction 7 2 1 250.0 600.0 38 36 5.6
Bankruptcies 5 1 1 400.0 400.0 24 22 9.1
Proposals 2 1 0 100.0 n/a 14 14 0.0
Utilities 0 3 0 -100.0 n/a 6 8 -25.0
Bankruptcies 0 1 0 -100.0 n/a 2 7 -71.4
Proposals 0 2 0 -100.0 n/a 4 1 300.0
Construction 47 74 45 -36.5 4.4 710 699 1.6
Bankruptcies 29 51 32 -43.1 -9.4 530 497 6.6
Proposals 18 23 13 -21.7 38.5 180 202 -10.9
Manufacturing 27 32 25 -15.6 8.0 325 304 6.9
Bankruptcies 21 25 15 -16.0 40.0 244 200 22.0
Proposals 6 7 10 -14.3 -40.0 81 104 -22.1
Wholesale Trade 20 12 15 66.7 33.3 184 159 15.7
Bankruptcies 15 8 12 87.5 25.0 132 121 9.1
Proposals 5 4 3 25.0 66.7 52 38 36.8
Retail Trade 30 28 26 7.1 15.4 399 378 5.6
Bankruptcies 27 20 22 35.0 22.7 313 310 1.0
Proposals 3 8 4 -62.5 -25.0 86 68 26.5
Transportation and Warehousing 14 23 19 -39.1 -26.3 232 214 8.4
Bankruptcies 7 16 15 -56.3 -53.3 170 169 0.6
Proposals 7 7 4 0.0 75.0 62 45 37.8
Information and Cultural Industries 11 3 9 266.7 22.2 77 61 26.2
Bankruptcies 6 3 6 100.0 0.0 56 51 9.8
Proposals 5 0 3 n/a 66.7 21 10 110.0
Finance and Insurance 5 6 3 -16.7 66.7 76 59 28.8
Bankruptcies 4 5 2 -20.0 100.0 61 40 52.5
Proposals 1 1 1 0.0 0.0 15 19 -21.1
Real Estate and Rental and Leasing 10 10 8 0.0 25.0 151 141 7.1
Bankruptcies 5 10 8 -50.0 -37.5 107 110 -2.7
Proposals 5 0 0 n/a n/a 44 31 41.9
Professional, Scientific and Technical Services 27 21 21 28.6 28.6 270 259 4.2
Bankruptcies 24 17 15 41.2 60.0 211 196 7.7
Proposals 3 4 6 -25.0 -50.0 59 63 -6.3
Management of Companies and Enterprises 7 6 6 16.7 16.7 89 80 11.3
Bankruptcies 4 5 6 -20.0 -33.3 72 62 16.1
Proposals 3 1 0 200.0 n/a 17 18 -5.6
Administrative and Support, Waste Management and Remediation Services 19 19 11 0.0 72.7 165 149 10.7
Bankruptcies 13 15 10 -13.3 30.0 108 109 -0.9
Proposals 6 4 1 50.0 500.0 57 40 42.5
Educational Services 2 1 2 100.0 0.0 31 25 24.0
Bankruptcies 2 1 2 100.0 0.0 22 19 15.8
Proposals 0 0 0 n/a n/a 9 6 50.0
Health Care and Social Assistance 12 5 4 140.0 200.0 86 79 8.9
Bankruptcies 7 1 1 600.0 600.0 56 55 1.8
Proposals 5 4 3 25.0 66.7 30 24 25.0
Arts, Entertainment and Recreation 6 6 7 0.0 -14.3 66 82 -19.5
Bankruptcies 5 5 5 0.0 0.0 51 62 -17.7
Proposals 1 1 2 0.0 -50.0 15 20 -25.0
Accommodation and Food Services 36 44 44 -18.2 -18.2 545 551 -1.1
Bankruptcies 27 35 30 -22.9 -10.0 441 396 11.4
Proposals 9 9 14 0.0 -35.7 104 155 -32.9
Other Services (except Public Administration) 14 17 11 -17.6 27.3 205 178 15.2
Bankruptcies 10 14 9 -28.6 11.1 155 147 5.4
Proposals 4 3 2 33.3 100.0 50 31 61.3
Public Administration 0 0 0 n/a n/a 2 4 -50.0
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 295 316 264 -6.6 11.7 3,718 3,535 5.2
Bankruptcies 212 236 196 -10.2 8.2 2,800 2,625 6.7
Proposals 83 80 68 3.8 22.1 918 910 0.9