Insolvency Statistics in Canada—March 2020

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

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
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-202003-31-2019% Change
Newfoundland and Labrador228230289-0.9-21.13,1142,9037.3
Bankruptcies99991180.0-16.11,4451,4072.7
Proposals129131171-1.5-24.61,6691,49611.6
Prince Edward Island424360-2.3-30.07277141.8
Bankruptcies232730-14.8-23.3384408-5.9
Proposals19163018.8-36.734330612.1
Nova Scotia400452533-11.5-25.05,9815,7224.5
Bankruptcies176209302-15.8-41.73,0503,504-13.0
Proposals224243231-7.8-3.02,9312,21832.1
New Brunswick40935641414.9-1.24,9474,6696.0
Bankruptcies17313722126.3-21.72,3042,365-2.6
Proposals2362191937.822.32,6432,30414.7
Quebec3,4073,7704,094-9.6-16.844,68143,7012.2
Bankruptcies1,4161,6381,870-13.6-24.321,00622,382-6.1
Proposals1,9912,1322,224-6.6-10.523,67521,31911.1
Ontario3,8243,8373,927-0.3-2.646,74040,69614.9
Bankruptcies1,1051,0661,3073.7-15.515,06915,150-0.5
Proposals2,7192,7712,620-1.93.831,67125,54624.0
Manitoba240279277-14.0-13.43,2722,9889.5
Bankruptcies796912214.5-35.21,3091,423-8.0
Proposals161210155-23.33.91,9631,56525.4
Saskatchewan245306317-19.9-22.73,5583,5590.0
Bankruptcies101115112-12.2-9.81,3681,370-0.1
Proposals144191205-24.6-29.82,1902,1890.0
Alberta1,4911,4021,4556.32.517,24715,29412.8
Bankruptcies4103984913.0-16.55,5635,2895.2
Proposals1,0811,0049647.712.111,68410,00516.8
British Columbia9068959501.2-4.611,38910,3759.8
Bankruptcies331341351-2.9-5.74,1794,0892.2
Proposals5755545993.8-4.07,2106,28614.7
Northwest Territories64650.00.06671-7.0
Bankruptcies302n/a50.01236-66.7
Proposals344-25.0-25.0543554.3
Yukon011-100.0-100.031310.0
Bankruptcies010-100.0n/a131118.2
Proposals001n/a-100.01820-10.0
Nunavut002n/a-100.047-42.9
Bankruptcies000n/an/a20n/a
Proposals002n/a-100.027-71.4
Canada11,19811,57512,325-3.3-9.1141,757130,7308.4
Bankruptcies3,9164,1004,926-4.5-20.555,70457,434-3.0
Proposals7,2827,4757,399-2.6-1.686,05373,29617.4
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-202003-31-2019% Change
Newfoundland and Labrador2282282860.0-20.33,0812,8737.2
Bankruptcies99971152.1-13.91,4181,3812.7
Proposals129131171-1.5-24.61,6631,49211.5
Prince Edward Island424360-2.3-30.07167110.7
Bankruptcies232730-14.8-23.3374406-7.9
Proposals19163018.8-36.734230512.1
Nova Scotia398448530-11.2-24.95,9225,6794.3
Bankruptcies174207299-15.9-41.83,0003,472-13.6
Proposals224241231-7.1-3.02,9222,20732.4
New Brunswick40935440815.50.24,9124,6246.2
Bankruptcies17313521728.1-20.32,2762,329-2.3
Proposals2362191917.823.62,6362,29514.9
Quebec3,2603,5783,882-8.9-16.042,60341,5902.4
Bankruptcies1,3121,4941,700-12.2-22.819,46420,762-6.3
Proposals1,9482,0842,182-6.5-10.723,13920,82811.1
Ontario3,7613,7533,8310.2-1.845,85539,75515.3
Bankruptcies1,0611,0111,2344.9-14.014,44814,466-0.1
Proposals2,7002,7422,597-1.54.031,40725,28924.2
Manitoba233278276-16.2-15.63,2312,9619.1
Bankruptcies776812113.2-36.41,2791,398-8.5
Proposals156210155-25.70.61,9521,56324.9
Saskatchewan240294311-18.4-22.83,4513,464-0.4
Bankruptcies96104111-7.7-13.51,2931,314-1.6
Proposals144190200-24.2-28.02,1582,1500.4
Alberta1,4771,3841,4306.73.317,03715,07313.0
Bankruptcies3973854733.1-16.15,4105,1145.8
Proposals1,0809999578.112.911,6279,95916.7
British Columbia8938869400.8-5.011,26110,2699.7
Bankruptcies326338343-3.6-5.04,0954,0152.0
Proposals5675485973.5-5.07,1666,25414.6
Northwest Territories64650.00.06471-9.9
Bankruptcies302n/a50.01136-69.4
Proposals344-25.0-25.0533551.4
Yukon011-100.0-100.031310.0
Bankruptcies010-100.0n/a131118.2
Proposals001n/a-100.01820-10.0
Nunavut002n/a-100.027-71.4
Bankruptcies000n/an/a00n/a
Proposals002n/a-100.027-71.4
Canada10,94711,25111,963-2.7-8.5138,166127,1088.7
Bankruptcies3,7413,8674,645-3.3-19.553,08154,704-3.0
Proposals7,2067,3847,318-2.4-1.585,08572,40417.5
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-202003-31-2019% Change
Newfoundland and Labrador023-100.0-100.0333010.0
Bankruptcies023-100.0-100.027263.8
Proposals000n/an/a6450.0
Prince Edward Island000n/an/a113266.7
Bankruptcies000n/an/a102400.0
Proposals000n/an/a110.0
Nova Scotia243-50.0-33.3594337.2
Bankruptcies2230.0-33.3503256.3
Proposals020-100.0n/a911-18.2
New Brunswick026-100.0-100.03545-22.2
Bankruptcies024-100.0-100.02836-22.2
Proposals002n/a-100.079-22.2
Quebec147192212-23.4-30.72,0782,111-1.6
Bankruptcies104144170-27.8-38.81,5421,620-4.8
Proposals434842-10.42.45364919.2
Ontario638496-25.0-34.4885941-6.0
Bankruptcies445573-20.0-39.7621684-9.2
Proposals192923-34.5-17.42642572.7
Manitoba711600.0600.0412751.9
Bankruptcies211100.0100.0302520.0
Proposals500n/an/a112450.0
Saskatchewan5126-58.3-16.71079512.6
Bankruptcies5111-54.5400.0755633.9
Proposals015-100.0-100.03239-17.9
Alberta141825-22.2-44.0210221-5.0
Bankruptcies1313180.0-27.8153175-12.6
Proposals157-80.0-85.7574623.9
British Columbia1391044.430.012810620.8
Bankruptcies53866.7-37.5847413.5
Proposals86233.3300.0443237.5
Northwest Territories000n/an/a20n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada251324362-22.5-30.73,5913,622-0.9
Bankruptcies175233281-24.9-37.72,6232,730-3.9
Proposals769181-16.5-6.29688928.5
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-202003-31-2019% Change
Newfoundland and Labrador000n/an/a1013-23.1
Bankruptcies000n/an/a79-22.2
Proposals000n/an/a34-25.0
Prince Edward Island000n/an/a41300.0
Bankruptcies000n/an/a31200.0
Proposals000n/an/a10n/a
Nova Scotia231-33.3100.0332250.0
Bankruptcies211100.0100.0251747.1
Proposals020-100.0n/a8560.0
New Brunswick023-100.0-100.0262218.2
Bankruptcies023-100.0-100.020200.0
Proposals000n/an/a62200.0
Quebec128171180-25.1-28.91,8221,834-0.7
Bankruptcies94131143-28.2-34.31,3891,428-2.7
Proposals344037-15.0-8.14334066.7
Ontario3735555.7-32.7463557-16.9
Bankruptcies2525430.0-41.9343413-16.9
Proposals12101220.00.0120144-16.7
Manitoba600n/an/a194375.0
Bankruptcies100n/an/a123300.0
Proposals500n/an/a71600.0
Saskatchewan020-100.0n/a11683.3
Bankruptcies020-100.0n/a84100.0
Proposals000n/an/a3250.0
Alberta71211-41.7-36.41229923.2
Bankruptcies787-12.50.0937720.8
Proposals044-100.0-100.0292231.8
British Columbia936200.050.0524515.6
Bankruptcies425100.0-20.0352729.6
Proposals511400.0400.01718-5.6
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada189228256-17.1-26.22,5652,603-1.5
Bankruptcies133171202-22.2-34.21,9371,999-3.1
Proposals565754-1.83.76286044.0
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020
to
Mar. 2020
Mar. 2019
to
Mar. 2020
03-31-202003-31-2019% Change
Newfoundland and Labrador023-100.0-100.0231735.3
Bankruptcies023-100.0-100.0201717.6
Proposals000n/an/a30n/a
Prince Edward Island000n/an/a72250.0
Bankruptcies000n/an/a71600.0
Proposals000n/an/a01-100.0
Nova Scotia012-100.0-100.0262123.8
Bankruptcies012-100.0-100.0251566.7
Proposals000n/an/a16-83.3
New Brunswick003n/a-100.0923-60.9
Bankruptcies001n/a-100.0816-50.0
Proposals002n/a-100.017-85.7
Quebec192132-9.5-40.6256277-7.6
Bankruptcies101327-23.1-63.0153192-20.3
Proposals98512.580.01038521.2
Ontario264941-46.9-36.64223849.9
Bankruptcies193030-36.7-36.72782712.6
Proposals71911-63.2-36.414411327.4
Manitoba1110.00.02223-4.3
Bankruptcies1110.00.01822-18.2
Proposals000n/an/a41300.0
Saskatchewan5106-50.0-16.796897.9
Bankruptcies591-44.4400.0675228.8
Proposals015-100.0-100.02937-21.6
Alberta761416.7-50.088122-27.9
Bankruptcies651120.0-45.56098-38.8
Proposals1130.0-66.7282416.7
British Columbia464-33.30.0766124.6
Bankruptcies1130.0-66.749474.3
Proposals351-40.0200.0271492.9
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a10n/a
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
Canada6296106-35.4-41.51,0261,0190.7
Bankruptcies426279-32.3-46.8686731-6.2
Proposals203427-41.2-25.934028818.1
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
-Volume% Change12-Month Period Ending
March 2020Febrary 2020March 2019Feb. 2020 to Mar. 2020Mar. 2019 to Mar. 202003-31-202003-31-2019% Change
Agriculture, Forestry, Fishing and Hunting817700.014.36171-14.1
Bankruptcies515400.00.03952-25.0
Proposals302n/a50.0221915.8
Mining and Oil and Gas Extraction2270.0-71.43334-2.9
Bankruptcies2270.0-71.42123-8.7
Proposals000n/an/a12119.1
Utilities200n/an/a94125.0
Bankruptcies200n/an/a62200.0
Proposals000n/an/a3250.0
Construction436073-28.3-41.1640705-9.2
Bankruptcies274861-43.8-55.7454531-14.5
Proposals16121233.333.31861746.9
Manufacturing252931-13.8-19.434030910.0
Bankruptcies152121-28.6-28.62382236.7
Proposals1081025.00.01028618.6
Wholesale Trade121324-7.7-50.01771751.1
Bankruptcies101116-9.1-37.5126131-3.8
Proposals2280.0-75.0514415.9
Retail Trade42382910.544.84083933.8
Bankruptcies272822-3.622.7300311-3.5
Proposals1510750.0114.31088231.7
Transportation and Warehousing20172417.6-16.7212244-13.1
Bankruptcies18121650.012.5158184-14.1
Proposals258-60.0-75.05460-10.0
Information and Cultural Industries398-66.7-62.5776813.2
Bankruptcies398-66.7-62.5585016.0
Proposals000n/an/a19185.6
Finance and Insurance348-25.0-62.55367-20.9
Bankruptcies346-25.0-50.04550-10.0
Proposals002n/a-100.0817-52.9
Real Estate and Rental and Leasing961350.0-30.8149150-0.7
Bankruptcies5210150.0-50.0105107-1.9
Proposals4430.033.344432.3
Professional, Scientific and Technical Services202723-25.9-13.02762606.2
Bankruptcies121619-25.0-36.82101967.1
Proposals8114-27.3100.066643.1
Management of Companies and Enterprises61510-60.0-40.090829.8
Bankruptcies577-28.6-28.668671.5
Proposals183-87.5-66.7221546.7
Administrative and Support, Waste Management and Remediation Services11101310.0-15.41661585.1
Bankruptcies5590.0-44.411410310.7
Proposals65420.050.05255-5.5
Educational Services044-100.0-100.032313.2
Bankruptcies043-100.0-100.024234.3
Proposals001n/a-100.0880.0
Health Care and Social Assistance1612-83.3-91.77981-2.5
Bankruptcies1311-66.7-90.95054-7.4
Proposals031-100.0-100.029277.4
Arts, Entertainment and Recreation5107-50.0-28.6866434.4
Bankruptcies374-57.1-25.0675034.0
Proposals233-33.3-33.3191435.7
Accommodation and Food Services316053-48.3-41.5501530-5.5
Bankruptcies254644-45.7-43.2387424-8.7
Proposals6149-57.1-33.31141067.5
Other Services (except Public Administration)81316-38.5-50.02021934.7
Bankruptcies77120.0-41.71531474.1
Proposals164-83.3-75.049466.5
Public Administration000n/an/a03-100.0
Bankruptcies000n/an/a02-100.0
Proposals000n/an/a01-100.0
Total251324362-22.5-30.73,5913,622-0.9
Bankruptcies175233281-24.9-37.72,6232,730-3.9
Proposals769181-16.5-6.29688928.5