Insolvency Statistics in Canada—June 2021

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
Province Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 165 155 106 6.5 55.7 1,887 2,539 -25.7
Bankruptcies 59 63 51 -6.3 15.7 711 1,177 -39.6
Proposals 106 92 55 15.2 92.7 1,176 1,362 -13.7
Prince Edward Island 30 36 24 -16.7 25.0 397 611 -35.0
Bankruptcies 16 23 12 -30.4 33.3 175 319 -45.1
Proposals 14 13 12 7.7 16.7 222 292 -24.0
Nova Scotia 246 261 206 -5.7 19.4 3,180 5,038 -36.9
Bankruptcies 111 106 102 4.7 8.8 1,409 2,455 -42.6
Proposals 135 155 104 -12.9 29.8 1,771 2,583 -31.4
New Brunswick 285 248 210 14.9 35.7 3,273 4,234 -22.7
Bankruptcies 113 110 91 2.7 24.2 1,484 1,932 -23.2
Proposals 172 138 119 24.6 44.5 1,789 2,302 -22.3
Quebec 1,996 2,073 1,753 -3.7 13.9 25,495 38,272 -33.4
Bankruptcies 908 969 858 -6.3 5.8 11,864 17,796 -33.3
Proposals 1,088 1,104 895 -1.4 21.6 13,631 20,476 -33.4
Ontario 2,554 2,445 2,429 4.5 5.1 31,894 42,227 -24.5
Bankruptcies 718 693 696 3.6 3.2 8,655 12,939 -33.1
Proposals 1,836 1,752 1,733 4.8 5.9 23,239 29,288 -20.7
Manitoba 234 187 198 25.1 18.2 2,428 3,036 -20.0
Bankruptcies 73 69 64 5.8 14.1 801 1,080 -25.8
Proposals 161 118 134 36.4 20.1 1,627 1,956 -16.8
Saskatchewan 201 249 178 -19.3 12.9 2,702 3,289 -17.8
Bankruptcies 58 75 64 -22.7 -9.4 832 1,236 -32.7
Proposals 143 174 114 -17.8 25.4 1,870 2,053 -8.9
Alberta 1,182 1,207 878 -2.1 34.6 13,511 15,726 -14.1
Bankruptcies 243 232 260 4.7 -6.5 3,283 4,857 -32.4
Proposals 939 975 618 -3.7 51.9 10,228 10,869 -5.9
British Columbia 769 752 607 2.3 26.7 8,429 10,398 -18.9
Bankruptcies 192 182 174 5.5 10.3 2,406 3,671 -34.5
Proposals 577 570 433 1.2 33.3 6,023 6,727 -10.5
Northwest Territories 6 7 7 -14.3 -14.3 51 60 -15.0
Bankruptcies 3 0 3 -- 0.0 7 15 -53.3
Proposals 3 7 4 -57.1 -25.0 44 45 -2.2
Yukon 2 2 3 0.0 -33.3 30 37 -18.9
Bankruptcies 0 2 1 -100.0 -100.0 10 15 -33.3
Proposals 2 0 2 -- 0.0 20 22 -9.1
Nunavut 1 0 0 -- -- 14 7 100.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 1 0 0 -- -- 13 5 160.0
Canada 7,671 7,622 6,599 0.6 16.2 93,291 125,474 -25.6
Bankruptcies 2,494 2,524 2,376 -1.2 5.0 31,638 47,494 -33.4
Proposals 5,177 5,098 4,223 1.5 22.6 61,653 77,980 -20.9
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 164 152 105 7.9 56.2 1,874 2,516 -25.5
Bankruptcies 58 60 50 -3.3 16.0 698 1,160 -39.8
Proposals 106 92 55 15.2 92.7 1,176 1,356 -13.3
Prince Edward Island 30 36 24 -16.7 25.0 397 604 -34.3
Bankruptcies 16 23 12 -30.4 33.3 175 314 -44.3
Proposals 14 13 12 7.7 16.7 222 290 -23.4
Nova Scotia 244 261 205 -6.5 19.0 3,166 4,998 -36.7
Bankruptcies 110 106 101 3.8 8.9 1,397 2,421 -42.3
Proposals 134 155 104 -13.5 28.8 1,769 2,577 -31.4
New Brunswick 283 248 205 14.1 38.0 3,252 4,207 -22.7
Bankruptcies 111 110 88 0.9 26.1 1,470 1,913 -23.2
Proposals 172 138 117 24.6 47.0 1,782 2,294 -22.3
Quebec 1,851 1,959 1,604 -5.5 15.4 23,984 36,435 -34.2
Bankruptcies 788 871 740 -9.5 6.5 10,618 16,421 -35.3
Proposals 1,063 1,088 864 -2.3 23.0 13,366 20,014 -33.2
Ontario 2,506 2,405 2,374 4.2 5.6 31,268 41,409 -24.5
Bankruptcies 685 658 654 4.1 4.7 8,202 12,368 -33.7
Proposals 1,821 1,747 1,720 4.2 5.9 23,066 29,041 -20.6
Manitoba 229 186 193 23.1 18.7 2,399 2,997 -20.0
Bankruptcies 69 68 59 1.5 16.9 776 1,050 -26.1
Proposals 160 118 134 35.6 19.4 1,623 1,947 -16.6
Saskatchewan 197 243 174 -18.9 13.2 2,656 3,197 -16.9
Bankruptcies 55 73 61 -24.7 -9.8 795 1,167 -31.9
Proposals 142 170 113 -16.5 25.7 1,861 2,030 -8.3
Alberta 1,172 1,191 864 -1.6 35.6 13,359 15,523 -13.9
Bankruptcies 238 218 250 9.2 -4.8 3,177 4,712 -32.6
Proposals 934 973 614 -4.0 52.1 10,182 10,811 -5.8
British Columbia 763 747 591 2.1 29.1 8,335 10,264 -18.8
Bankruptcies 188 180 166 4.4 13.3 2,339 3,591 -34.9
Proposals 575 567 425 1.4 35.3 5,996 6,673 -10.1
Northwest Territories 6 7 7 -14.3 -14.3 51 58 -12.1
Bankruptcies 3 0 3 -- 0.0 7 14 -50.0
Proposals 3 7 4 -57.1 -25.0 44 44 0.0
Yukon 2 2 3 0.0 -33.3 30 37 -18.9
Bankruptcies 0 2 1 -100.0 -100.0 10 15 -33.3
Proposals 2 0 2 -- 0.0 20 22 -9.1
Nunavut 1 0 0 -- -- 13 5 160.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 1 0 0 -- -- 13 5 160.0
Canada 7,448 7,437 6,349 0.1 17.3 90,784 122,250 -25.7
Bankruptcies 2,321 2,369 2,185 -2.0 6.2 29,664 45,146 -34.3
Proposals 5,127 5,068 4,164 1.2 23.1 61,120 77,104 -20.7
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 1 3 1 -66.7 0.0 13 23 -43.5
Bankruptcies 1 3 1 -66.7 0.0 13 17 -23.5
Proposals 0 0 0 -- -- 0 6 -100.0
Prince Edward Island 0 0 0 -- -- 0 7 -100.0
Bankruptcies 0 0 0 -- -- 0 5 -100.0
Proposals 0 0 0 -- -- 0 2 -100.0
Nova Scotia 2 0 1 -- 100.0 14 40 -65.0
Bankruptcies 1 0 1 -- 0.0 12 34 -64.7
Proposals 1 0 0 -- -- 2 6 -66.7
New Brunswick 2 0 5 -- -60.0 21 27 -22.2
Bankruptcies 2 0 3 -- -33.3 14 19 -26.3
Proposals 0 0 2 -- -100.0 7 8 -12.5
Quebec 145 114 149 27.2 -2.7 1,511 1,837 -17.7
Bankruptcies 120 98 118 22.4 1.7 1,246 1,375 -9.4
Proposals 25 16 31 56.3 -19.4 265 462 -42.6
Ontario 48 40 55 20.0 -12.7 626 818 -23.5
Bankruptcies 33 35 42 -5.7 -21.4 453 571 -20.7
Proposals 15 5 13 200.0 15.4 173 247 -30.0
Manitoba 5 1 5 400.0 0.0 29 39 -25.6
Bankruptcies 4 1 5 300.0 -20.0 25 30 -16.7
Proposals 1 0 0 -- -- 4 9 -55.6
Saskatchewan 4 6 4 -33.3 0.0 46 92 -50.0
Bankruptcies 3 2 3 50.0 0.0 37 69 -46.4
Proposals 1 4 1 -75.0 0.0 9 23 -60.9
Alberta 10 16 14 -37.5 -28.6 152 203 -25.1
Bankruptcies 5 14 10 -64.3 -50.0 106 145 -26.9
Proposals 5 2 4 150.0 25.0 46 58 -20.7
British Columbia 6 5 16 20.0 -62.5 94 134 -29.9
Bankruptcies 4 2 8 100.0 -50.0 67 80 -16.3
Proposals 2 3 8 -33.3 -75.0 27 54 -50.0
Northwest Territories 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 223 185 250 20.5 -10.8 2,507 3,224 -22.2
Bankruptcies 173 155 191 11.6 -9.4 1,974 2,348 -15.9
Proposals 50 30 59 66.7 -15.3 533 876 -39.2
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 1 1 1 0.0 0.0 5 10 -50.0
Bankruptcies 1 1 1 0.0 0.0 5 7 -28.6
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 0 -- -- 0 3 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 2 -100.0
Nova Scotia 1 0 0 -- -- 8 22 -63.6
Bankruptcies 0 0 0 -- -- 7 16 -56.3
Proposals 1 0 0 -- -- 1 6 -83.3
New Brunswick 2 0 4 -- -50.0 11 21 -47.6
Bankruptcies 2 0 3 -- -33.3 9 15 -40.0
Proposals 0 0 1 -- -100.0 2 6 -66.7
Quebec 127 103 144 23.3 -11.8 1,318 1,617 -18.5
Bankruptcies 106 89 115 19.1 -7.8 1,116 1,242 -10.1
Proposals 21 14 29 50.0 -27.6 202 375 -46.1
Ontario 34 28 41 21.4 -17.1 432 455 -5.1
Bankruptcies 26 25 36 4.0 -27.8 339 340 -0.3
Proposals 8 3 5 166.7 60.0 93 115 -19.1
Manitoba 3 0 2 -- 50.0 9 19 -52.6
Bankruptcies 3 0 2 -- 50.0 8 13 -38.5
Proposals 0 0 0 -- -- 1 6 -83.3
Saskatchewan 1 4 1 -75.0 0.0 22 12 83.3
Bankruptcies 1 1 0 0.0 -- 18 9 100.0
Proposals 0 3 1 -100.0 -100.0 4 3 33.3
Alberta 6 7 9 -14.3 -33.3 88 126 -30.2
Bankruptcies 3 7 6 -57.1 -50.0 66 94 -29.8
Proposals 3 0 3 -- 0.0 22 32 -31.3
British Columbia 2 3 13 -33.3 -84.6 61 70 -12.9
Bankruptcies 2 0 7 -- -71.4 43 42 2.4
Proposals 0 3 6 -100.0 -100.0 18 28 -35.7
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 177 146 215 21.2 -17.7 1,955 2,358 -17.1
Bankruptcies 144 123 170 17.1 -15.3 1,612 1,781 -9.5
Proposals 33 23 45 43.5 -26.7 343 577 -40.6
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 0 2 0 -100.0 -- 8 13 -38.5
Bankruptcies 0 2 0 -100.0 -- 8 10 -20.0
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 0 -- -- 0 4 -100.0
Bankruptcies 0 0 0 -- -- 0 4 -100.0
Proposals 0 0 0 -- -- 0 0 --
Nova Scotia 1 0 1 -- 0.0 6 18 -66.7
Bankruptcies 1 0 1 -- 0.0 5 18 -72.2
Proposals 0 0 0 -- -- 1 0 --
New Brunswick 0 0 1 -- -100.0 10 6 66.7
Bankruptcies 0 0 0 -- -- 5 4 25.0
Proposals 0 0 1 -- -100.0 5 2 150.0
Quebec 18 11 5 63.6 260.0 193 220 -12.3
Bankruptcies 14 9 3 55.6 366.7 130 133 -2.3
Proposals 4 2 2 100.0 100.0 63 87 -27.6
Ontario 14 12 14 16.7 0.0 194 363 -46.6
Bankruptcies 7 10 6 -30.0 16.7 114 231 -50.6
Proposals 7 2 8 250.0 -12.5 80 132 -39.4
Manitoba 2 1 3 100.0 -33.3 20 20 0.0
Bankruptcies 1 1 3 0.0 -66.7 17 17 0.0
Proposals 1 0 0 -- -- 3 3 0.0
Saskatchewan 3 2 3 50.0 0.0 24 80 -70.0
Bankruptcies 2 1 3 100.0 -33.3 19 60 -68.3
Proposals 1 1 0 0.0 -- 5 20 -75.0
Alberta 4 9 5 -55.6 -20.0 64 77 -16.9
Bankruptcies 2 7 4 -71.4 -50.0 40 51 -21.6
Proposals 2 2 1 0.0 100.0 24 26 -7.7
British Columbia 4 2 3 100.0 33.3 33 64 -48.4
Bankruptcies 2 2 1 0.0 100.0 24 38 -36.8
Proposals 2 0 2 -- 0.0 9 26 -65.4
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 46 39 35 17.9 31.4 552 866 -36.3
Bankruptcies 29 32 21 -9.4 38.1 362 567 -36.2
Proposals 17 7 14 142.9 21.4 190 299 -36.5
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
June 2021 May 2021 June 2020 May 2021
to
June 2021
June 2020
to
June 2021
06-30-2021 06-30-2020 % Change
Agriculture, Forestry, Fishing and Hunting 2 3 7 -33.3 -71.4 56 62 -9.7
Bankruptcies 2 3 7 -33.3 -71.4 44 42 4.8
Proposals 0 0 0 -- -- 12 20 -40.0
Mining and Oil and Gas Extraction 7 7 1 0.0 600.0 56 29 93.1
Bankruptcies 4 7 0 -42.9 -- 39 17 129.4
Proposals 3 0 1 -- 200.0 17 12 41.7
Utilities 0 1 0 -100.0 -- 4 7 -42.9
Bankruptcies 0 0 0 -- -- 3 6 -50.0
Proposals 0 1 0 -100.0 -- 1 1 0.0
Construction 41 31 29 32.3 41.4 324 520 -37.7
Bankruptcies 30 26 25 15.4 20.0 260 369 -29.5
Proposals 11 5 4 120.0 175.0 64 151 -57.6
Manufacturing 12 15 22 -20.0 -45.5 213 304 -29.9
Bankruptcies 10 13 16 -23.1 -37.5 163 210 -22.4
Proposals 2 2 6 0.0 -66.7 50 94 -46.8
Wholesale Trade 8 3 17 166.7 -52.9 113 160 -29.4
Bankruptcies 6 3 14 100.0 -57.1 88 116 -24.1
Proposals 2 0 3 -- -33.3 25 44 -43.2
Retail Trade 22 24 37 -8.3 -40.5 288 406 -29.1
Bankruptcies 17 19 24 -10.5 -29.2 223 289 -22.8
Proposals 5 5 13 0.0 -61.5 65 117 -44.4
Transportation and Warehousing 20 14 8 42.9 150.0 171 181 -5.5
Bankruptcies 18 13 6 38.5 200.0 141 137 2.9
Proposals 2 1 2 100.0 0.0 30 44 -31.8
Information and Cultural Industries 3 1 1 200.0 200.0 38 61 -37.7
Bankruptcies 3 1 1 200.0 200.0 31 46 -32.6
Proposals 0 0 0 -- -- 7 15 -53.3
Finance and Insurance 7 0 4 -- 75.0 54 41 31.7
Bankruptcies 7 0 3 -- 133.3 46 32 43.8
Proposals 0 0 1 -- -100.0 8 9 -11.1
Real Estate and Rental and Leasing 5 5 13 0.0 -61.5 126 150 -16.0
Bankruptcies 5 4 5 25.0 0.0 103 98 5.1
Proposals 0 1 8 -100.0 -100.0 23 52 -55.8
Professional, Scientific and Technical Services 15 15 7 0.0 114.3 168 220 -23.6
Bankruptcies 14 14 5 0.0 180.0 142 164 -13.4
Proposals 1 1 2 0.0 -50.0 26 56 -53.6
Management of Companies and Enterprises 9 8 10 12.5 -10.0 81 92 -12.0
Bankruptcies 5 7 8 -28.6 -37.5 62 69 -10.1
Proposals 4 1 2 300.0 100.0 19 23 -17.4
Administrative and Support, Waste Management and Remediation Services 16 5 4 220.0 300.0 135 133 1.5
Bankruptcies 11 2 3 450.0 266.7 100 87 14.9
Proposals 5 3 1 66.7 400.0 35 46 -23.9
Educational Services 1 4 8 -75.0 -87.5 33 36 -8.3
Bankruptcies 1 4 6 -75.0 -83.3 28 27 3.7
Proposals 0 0 2 -- -100.0 5 9 -44.4
Health Care and Social Assistance 3 5 8 -40.0 -62.5 68 70 -2.9
Bankruptcies 1 2 8 -50.0 -87.5 49 49 0.0
Proposals 2 3 0 -33.3 -- 19 21 -9.5
Arts, Entertainment and Recreation 6 5 14 20.0 -57.1 87 105 -17.1
Bankruptcies 4 4 11 0.0 -63.6 63 84 -25.0
Proposals 2 1 3 100.0 -33.3 24 21 14.3
Accommodation and Food Services 36 26 52 38.5 -30.8 359 464 -22.6
Bankruptcies 25 22 42 13.6 -40.5 278 369 -24.7
Proposals 11 4 10 175.0 10.0 81 95 -14.7
Other Services (except Public Administration) 10 12 8 -16.7 25.0 127 183 -30.6
Bankruptcies 10 10 7 0.0 42.9 106 137 -22.6
Proposals 0 2 1 -100.0 -100.0 21 46 -54.3
Public Administration 0 1 0 -100.0 -- 6 0 --
Bankruptcies 0 1 0 -100.0 -- 5 0 --
Proposals 0 0 0 -- -- 1 0 --
Canada 223 185 250 20.5 -10.8 2,507 3,224 -22.2
Bankruptcies 173 155 191 11.6 -9.4 1,974 2,348 -15.9
Proposals 50 30 59 66.7 -15.3 533 876 -39.2