Insolvency Statistics in Canada—June 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
June
2020
May
2020
June
2019
May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Newfoundland and Labrador  106 122 281 -13.1 -62.3 2,539 3,077 -17.5
Bankruptcies 51 68 141 -25.0 -63.8 1,177 1,466 -19.7
Proposals 55 54 140 1.9 -60.7 1,362 1,611 -15.5
Prince Edward Island 24 30 62 -20.0 -61.3 611 732 -16.5
Bankruptcies 12 12 28 0.0 -57.1 319 393 -18.8
Proposals 12 18 34 -33.3 -64.7 292 339 -13.9
Nova Scotia 206 202 562 2.0 -63.3 5,038 5,792 -13.0
Bankruptcies 102 97 309 5.2 -67.0 2,455 3,431 -28.4
Proposals 104 105 253 -1.0 -58.9 2,583 2,361 9.4
New Brunswick 210 166 463 26.5 -54.6 4,234 4,804 -11.9
Bankruptcies 91 87 205 4.6 -55.6 1,932 2,396 -19.4
Proposals 119 79 258 50.6 -53.9 2,302 2,408 -4.4
Quebec 1,753 1,461 3,257 20.0 -46.2 38,272 43,882 -12.8
Bankruptcies 858 739 1,567 16.1 -45.2 17,796 22,007 -19.1
Proposals 895 722 1,690 24.0 -47.0 20,476 21,875 -6.4
Ontario 2,429 2,412 3,686 0.7 -34.1 42,227 42,086 0.3
Bankruptcies 696 647 1,265 7.6 -45.0 12,939 15,095 -14.3
Proposals 1,733 1,765 2,421 -1.8 -28.4 29,288 26,991 8.5
Manitoba 198 188 277 5.3 -28.5 3,036 3,028 0.3
Bankruptcies 64 56 127 14.3 -49.6 1,080 1,427 -24.3
Proposals 134 132 150 1.5 -10.7 1,956 1,601 22.2
Saskatchewan 178 197 263 -9.6 -32.3 3,289 3,528 -6.8
Bankruptcies 64 66 100 -3.0 -36.0 1,236 1,365 -9.5
Proposals 114 131 163 -13.0 -30.1 2,053 2,163 -5.1
Alberta 878 885 1,418 -0.8 -38.1 15,726 15,694 0.2
Bankruptcies 260 237 452 9.7 -42.5 4,857 5,415 -10.3
Proposals 618 648 966 -4.6 -36.0 10,869 10,279 5.7
British Columbia 607 633 934 -4.1 -35.0 10,398 10,525 -1.2
Bankruptcies 174 186 340 -6.5 -48.8 3,671 4,032 -9.0
Proposals 433 447 594 -3.1 -27.1 6,727 6,493 3.6
Northwest Territories 7 0 4 n/a 75.0 60 61 -1.6
Bankruptcies 3 0 0 n/a n/a 15 21 -28.6
Proposals 4 0 4 n/a 0.0 45 40 12.5
Yukon 3 8 4 -62.5 -25.0 37 32 15.6
Bankruptcies 1 4 0 -75.0 n/a 15 10 50.0
Proposals 2 4 4 -50.0 -50.0 22 22 0.0
Nunavut 0 0 0 n/a n/a 7 5 40.0
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 5 5 0.0
Canada 6,599 6,304 11,211 4.7 -41.1 125,474 133,246 -5.8
Bankruptcies 2,376 2,199 4,534 8.0 -47.6 47,494 57,058 -16.8
Proposals 4,223 4,105 6,677 2.9 -36.8 77,980 76,188 2.4
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
June 2020 May 2020 June 2019 May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Newfoundland and Labrador  105 122 277 -13.9 -62.1 2,516 3,039 -17.2
Bankruptcies 50 68 137 -26.5 -63.5 1,160 1,432 -19.0
Proposals 55 54 140 1.9 -60.7 1,356 1,607 -15.6
Prince Edward Island 24 30 62 -20.0 -61.3 604 725 -16.7
Bankruptcies 12 12 28 0.0 -57.1 314 387 -18.9
Proposals 12 18 34 -33.3 -64.7 290 338 -14.2
Nova Scotia 205 201 555 2.0 -63.1 4,998 5,735 -12.9
Bankruptcies 101 96 304 5.2 -66.8 2,421 3,386 -28.5
Proposals 104 105 251 -1.0 -58.6 2,577 2,349 9.7
New Brunswick 205 166 456 23.5 -55.0 4,207 4,761 -11.6
Bankruptcies 88 87 198 1.1 -55.6 1,913 2,363 -19.0
Proposals 117 79 258 48.1 -54.7 2,294 2,398 -4.3
Quebec 1,604 1,368 3,090 17.3 -48.1 36,435 41,721 -12.7
Bankruptcies 740 662 1,438 11.8 -48.5 16,421 20,340 -19.3
Proposals 864 706 1,652 22.4 -47.7 20,014 21,381 -6.4
Ontario 2,374 2,343 3,616 1.3 -34.3 41,409 41,133 0.7
Bankruptcies 654 592 1,220 10.5 -46.4 12,368 14,404 -14.1
Proposals 1,720 1,751 2,396 -1.8 -28.2 29,041 26,729 8.6
Manitoba 193 186 274 3.8 -29.6 2,997 2,993 0.1
Bankruptcies 59 54 124 9.3 -52.4 1,050 1,396 -24.8
Proposals 134 132 150 1.5 -10.7 1,947 1,597 21.9
Saskatchewan 174 195 259 -10.8 -32.8 3,197 3,434 -6.9
Bankruptcies 61 65 100 -6.2 -39.0 1,167 1,315 -11.3
Proposals 113 130 159 -13.1 -28.9 2,030 2,119 -4.2
Alberta 864 872 1,397 -0.9 -38.2 15,523 15,480 0.3
Bankruptcies 250 231 440 8.2 -43.2 4,712 5,251 -10.3
Proposals 614 641 957 -4.2 -35.8 10,811 10,229 5.7
British Columbia 591 620 922 -4.7 -35.9 10,264 10,409 -1.4
Bankruptcies 166 176 333 -5.7 -50.2 3,591 3,953 -9.2
Proposals 425 444 589 -4.3 -27.8 6,673 6,456 3.4
Northwest Territories 7 0 4 n/a 75.0 58 61 -4.9
Bankruptcies 3 0 0 n/a n/a 14 21 -33.3
Proposals 4 0 4 n/a 0.0 44 40 10.0
Yukon 3 8 4 -62.5 -25.0 37 32 15.6
Bankruptcies 1 4 0 -75.0 n/a 15 10 50.0
Proposals 2 4 4 -50.0 -50.0 22 22 0.0
Nunavut 0 0 0 n/a n/a 5 5 0.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 5 5 0.0
Canada 6,349 6,111 10,916 3.9 -41.8 122,250 129,528 -5.6
Bankruptcies 2,185 2,047 4,322 6.7 -49.4 45,146 54,258 -16.8
Proposals 4,164 4,064 6,594 2.5 -36.9 77,104 75,270 2.4
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
June 2020 May 2020 June 2019 May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Newfoundland and Labrador  1 0 4 n/a -75.0 23 38 -39.5
Bankruptcies 1 0 4 n/a -75.0 17 34 -50.0
Proposals 0 0 0 n/a n/a 6 4 50.0
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 40 57 -29.8
Bankruptcies 1 1 5 0.0 -80.0 34 45 -24.4
Proposals 0 0 2 n/a -100.0 6 12 -50.0
New Brunswick 5 0 7 n/a -28.6 27 43 -37.2
Bankruptcies 3 0 7 n/a -57.1 19 33 -42.4
Proposals 2 0 0 n/a n/a 8 10 -20.0
Quebec 149 93 167 60.2 -10.8 1,837 2,161 -15.0
Bankruptcies 118 77 129 53.2 -8.5 1,375 1,667 -17.5
Proposals 31 16 38 93.8 -18.4 462 494 -6.5
Ontario 55 69 70 -20.3 -21.4 818 953 -14.2
Bankruptcies 42 55 45 -23.6 -6.7 571 691 -17.4
Proposals 13 14 25 -7.1 -48.0 247 262 -5.7
Manitoba 5 2 3 150.0 66.7 39 35 11.4
Bankruptcies 5 2 3 150.0 66.7 30 31 -3.2
Proposals 0 0 0 n/a n/a 9 4 125.0
Saskatchewan 4 2 4 100.0 0.0 92 94 -2.1
Bankruptcies 3 1 0 200.0 n/a 69 50 38.0
Proposals 1 1 4 0.0 -75.0 23 44 -47.7
Alberta 14 13 21 7.7 -33.3 203 214 -5.1
Bankruptcies 10 6 12 66.7 -16.7 145 164 -11.6
Proposals 4 7 9 -42.9 -55.6 58 50 16.0
British Columbia 16 13 12 23.1 33.3 134 116 15.5
Bankruptcies 8 10 7 -20.0 14.3 80 79 1.3
Proposals 8 3 5 166.7 60.0 54 37 45.9
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 0 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 250 193 295 29.5 -15.3 3,224 3,718 -13.3
Bankruptcies 191 152 212 25.7 -9.9 2,348 2,800 -16.1
Proposals 59 41 83 43.9 -28.9 876 918 -4.6
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
June 2020 May 2020 June 2019 May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Newfoundland and Labrador  1 0 0 n/a n/a 10 14 -28.6
Bankruptcies 1 0 0 n/a n/a 7 10 -30.0
Proposals 0 0 0 n/a n/a 3 4 -25.0
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 0 0 5 n/a -100.0 22 30 -26.7
Bankruptcies 0 0 3 n/a -100.0 16 24 -33.3
Proposals 0 0 2 n/a -100.0 6 6 0.0
New Brunswick 4 0 4 n/a 0.0 21 26 -19.2
Bankruptcies 3 0 4 n/a -25.0 15 23 -34.8
Proposals 1 0 0 n/a n/a 6 3 100.0
Quebec 144 83 148 73.5 -2.7 1,617 1,890 -14.4
Bankruptcies 115 70 118 64.3 -2.5 1,242 1,487 -16.5
Proposals 29 13 30 123.1 -3.3 375 403 -6.9
Ontario 41 50 34 -18.0 20.6 455 560 -18.8
Bankruptcies 36 43 23 -16.3 56.5 340 417 -18.5
Proposals 5 7 11 -28.6 -54.5 115 143 -19.6
Manitoba 2 0 2 n/a 0.0 19 8 137.5
Bankruptcies 2 0 2 n/a 0.0 13 7 85.7
Proposals 0 0 0 n/a n/a 6 1 500.0
Saskatchewan 1 1 0 0.0 n/a 12 4 200.0
Bankruptcies 0 1 0 -100.0 n/a 9 2 350.0
Proposals 1 0 0 n/a n/a 3 2 50.0
Alberta 9 8 11 12.5 -18.2 126 93 35.5
Bankruptcies 6 3 5 100.0 20.0 94 72 30.6
Proposals 3 5 6 -40.0 -50.0 32 21 52.4
British Columbia 13 10 6 30.0 116.7 70 50 40.0
Bankruptcies 7 8 4 -12.5 75.0 42 28 50.0
Proposals 6 2 2 200.0 200.0 28 22 27.3
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 0 0 0 n/a n/a 2 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 215 152 210 41.4 2.4 2,358 2,677 -11.9
Bankruptcies 170 125 159 36.0 6.9 1,781 2,072 -14.0
Proposals 45 27 51 66.7 -11.8 577 605 -4.6
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
June 2020 May 2020 June 2019 May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Newfoundland and Labrador  0 0 4 n/a -100.0 13 24 -45.8
Bankruptcies 0 0 4 n/a -100.0 10 24 -58.3
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 1 1 2 0.0 -50.0 18 27 -33.3
Bankruptcies 1 1 2 0.0 -50.0 18 21 -14.3
Proposals 0 0 0 n/a n/a 0 6 -100.0
New Brunswick 1 0 3 n/a -66.7 6 17 -64.7
Bankruptcies 0 0 3 n/a -100.0 4 10 -60.0
Proposals 1 0 0 n/a n/a 2 7 -71.4
Quebec 5 10 19 -50.0 -73.7 220 271 -18.8
Bankruptcies 3 7 11 -57.1 -72.7 133 180 -26.1
Proposals 2 3 8 -33.3 -75.0 87 91 -4.4
Ontario 14 19 36 -26.3 -61.1 363 393 -7.6
Bankruptcies 6 12 22 -50.0 -72.7 231 274 -15.7
Proposals 8 7 14 14.3 -42.9 132 119 10.9
Manitoba 3 2 1 50.0 200.0 20 27 -25.9
Bankruptcies 3 2 1 50.0 200.0 17 24 -29.2
Proposals 0 0 0 n/a n/a 3 3 0.0
Saskatchewan 3 1 4 200.0 -25.0 80 90 -11.1
Bankruptcies 3 0 0 n/a n/a 60 48 25.0
Proposals 0 1 4 -100.0 -100.0 20 42 -52.4
Alberta 5 5 10 0.0 -50.0 77 121 -36.4
Bankruptcies 4 3 7 33.3 -42.9 51 92 -44.6
Proposals 1 2 3 -50.0 -66.7 26 29 -10.3
British Columbia 3 3 6 0.0 -50.0 64 66 -3.0
Bankruptcies 1 2 3 -50.0 -66.7 38 51 -25.5
Proposals 2 1 3 100.0 -33.3 26 15 73.3
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 35 41 85 -14.6 -58.8 866 1,041 -16.8
Bankruptcies 21 27 53 -22.2 -60.4 567 728 -22.1
Proposals 14 14 32 0.0 -56.3 299 313 -4.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
June 2020 May 2020 June 2019 May 2020 to
Jun. 2020
Jun. 2019 to
Jun. 2020
06-30-2020 06-30-2019 % Change
Agriculture, Forestry, Fishing and Hunting  7 4 1 75.0 600.0 62 61 1.6
Bankruptcies 7 4 1 75.0 600.0 42 44 -4.5
Proposals 0 0 0 n/a n/a 20 17 17.6
Mining and Oil and Gas Extraction 1 5 7 -80.0 -85.7 29 38 -23.7
Bankruptcies 0 2 5 -100.0 -100.0 17 24 -29.2
Proposals 1 3 2 -66.7 -50.0 12 14 -14.3
Utilities 0 1 0 -100.0 n/a 7 6 16.7
Bankruptcies 0 1 0 -100.0 n/a 6 2 200.0
Proposals 0 0 0 n/a n/a 1 4 -75.0
Construction 29 13 47 123.1 -38.3 520 710 -26.8
Bankruptcies 25 8 29 212.5 -13.8 369 530 -30.4
Proposals 4 5 18 -20.0 -77.8 151 180 -16.1
Manufacturing  22 18 27 22.2 -18.5 304 325 -6.5
Bankruptcies 16 15 21 6.7 -23.8 210 244 -13.9
Proposals 6 3 6 100.0 0.0 94 81 16.0
Wholesale Trade 17 7 20 142.9 -15.0 160 184 -13.0
Bankruptcies 14 5 15 180.0 -6.7 116 132 -12.1
Proposals 3 2 5 50.0 -40.0 44 52 -15.4
Retail Trade 37 27 30 37.0 23.3 406 399 1.8
Bankruptcies 24 19 27 26.3 -11.1 289 313 -7.7
Proposals 13 8 3 62.5 333.3 117 86 36.0
Transportation and Warehousing 8 8 14 0.0 -42.9 181 232 -22.0
Bankruptcies 6 6 7 0.0 -14.3 137 170 -19.4
Proposals 2 2 7 0.0 -71.4 44 62 -29.0
Information and Cultural Industries 1 3 11 -66.7 -90.9 61 77 -20.8
Bankruptcies 1 2 6 -50.0 -83.3 46 56 -17.9
Proposals 0 1 5 -100.0 -100.0 15 21 -28.6
Finance and Insurance  4 0 5 n/a -20.0 41 76 -46.1
Bankruptcies 3 0 4 n/a -25.0 32 61 -47.5
Proposals 1 0 1 n/a 0.0 9 15 -40.0
Real Estate and Rental and Leasing  13 12 10 8.3 30.0 150 151 -0.7
Bankruptcies 5 10 5 -50.0 0.0 98 107 -8.4
Proposals 8 2 5 300.0 60.0 52 44 18.2
Professional, Scientific and Technical Services 7 9 27 -22.2 -74.1 220 270 -18.5
Bankruptcies 5 7 24 -28.6 -79.2 164 211 -22.3
Proposals 2 2 3 0.0 -33.3 56 59 -5.1
Management of Companies and Enterprises 10 8 7 25.0 42.9 92 89 3.4
Bankruptcies 8 7 4 14.3 100.0 69 72 -4.2
Proposals 2 1 3 100.0 -33.3 23 17 35.3
Administrative and Support, Waste Management and Remediation Services 4 6 19 -33.3 -78.9 133 165 -19.4
Bankruptcies 3 4 13 -25.0 -76.9 87 108 -19.4
Proposals 1 2 6 -50.0 -83.3 46 57 -19.3
Educational Services  8 2 2 300.0 300.0 36 31 16.1
Bankruptcies 6 2 2 200.0 200.0 27 22 22.7
Proposals 2 0 0 n/a n/a 9 9 0.0
Health Care and Social Assistance 8 7 12 14.3 -33.3 70 86 -18.6
Bankruptcies 8 4 7 100.0 14.3 49 56 -12.5
Proposals 0 3 5 -100.0 -100.0 21 30 -30.0
Arts, Entertainment and Recreation 14 14 6 0.0 133.3 105 66 59.1
Bankruptcies 11 12 5 -8.3 120.0 84 51 64.7
Proposals 3 2 1 50.0 200.0 21 15 40.0
Accommodation and Food Services 52 37 36 40.5 44.4 464 545 -14.9
Bankruptcies 42 35 27 20.0 55.6 369 441 -16.3
Proposals 10 2 9 400.0 11.1 95 104 -8.7
Other Services (except Public Administration) 8 12 14 -33.3 -42.9 183 205 -10.7
Bankruptcies 7 9 10 -22.2 -30.0 137 155 -11.6
Proposals 1 3 4 -66.7 -75.0 46 50 -8.0
Public Administration  0 0 0 n/a n/a 0 2 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Total 250 193 295 29.5 -15.3 3,224 3,718 -13.3
Bankruptcies 191 152 212 25.7 -9.9 2,348 2,800 -16.1
Proposals 59 41 83 43.9 -28.9 876 918 -4.6