Insolvency Statistics in Canada—May 2018

PDF Version

Tables

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
May 2018Apr. 2018May 2017Apr. 2018
to
May 2018
May 2017
to
May 2018
05-31-201805-31-2017% Change
Newfoundland and Labrador26922621619.024.52,6642,4707.9
Bankruptcies1241141218.82.51,3491,508-10.5
Proposals1451129529.552.61,31596236.7
Prince Edward Island6963509.538.0722765-5.6
Bankruptcies4442334.833.3431459-6.1
Proposals25211719.047.1291306-4.9
Nova Scotia5394945529.1-2.45,6596,083-7.0
Bankruptcies35229836918.1-4.63,6444,172-12.7
Proposals187196183-4.62.22,0151,9115.4
New Brunswick4233884299.0-1.44,3694,469-2.2
Bankruptcies214219251-2.3-14.72,3282,769-15.9
Proposals20916917823.717.42,0411,70020.1
Quebec3,9773,7124,1167.1-3.443,88644,298-0.9
Bankruptcies2,1771,9712,37110.5-8.223,56625,111-6.2
Proposals1,8001,7411,7453.43.220,32019,1875.9
Ontario3,6793,4833,6175.61.738,91439,768-2.1
Bankruptcies1,4861,3991,5646.2-5.015,58916,876-7.6
Proposals2,1932,0842,0535.26.823,32522,8921.9
Manitoba224261209-14.27.22,6632,6012.4
Bankruptcies111135123-17.8-9.81,3821,418-2.5
Proposals11312686-10.331.41,2811,1838.3
Saskatchewan282307304-8.1-7.23,2963,2102.7
Bankruptcies109114158-4.4-31.01,3711,507-9.0
Proposals173193146-10.418.51,9251,70313.0
Alberta1,2851,2381,2083.86.413,82613,4053.1
Bankruptcies4624244759.0-2.75,0085,390-7.1
Proposals8238147331.112.38,8188,01510.0
British Columbia9618959527.40.910,12110,420-2.9
Bankruptcies4023684289.2-6.14,1494,560-9.0
Proposals5595275246.16.75,9725,8601.9
Northwest Territories3109-70.0-66.7936640.9
Bankruptcies264-66.7-50.0583565.7
Proposals145-75.0-80.0353112.9
Yukon3330.00.03945-13.3
Bankruptcies022-100.0-100.01621-23.8
Proposals311200.0200.02324-4.2
Nunavut1100.0n/a63100.0
Bankruptcies000n/an/a21100.0
Proposals1100.0n/a42100.0
Canada11,71511,08111,6655.70.4126,258127,603-1.1
Bankruptcies5,4835,0925,8997.7-7.158,89363,827-7.7
Proposals6,2325,9895,7664.18.167,36563,7765.6
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
May 2018Apr. 2018May 2017Apr. 2018
to
May 2018
May 2017
to
May 2018
05-31-201805-31-2017% Change
Newfoundland and Labrador26822521419.125.22,6382,4378.2
Bankruptcies1231131208.82.51,3291,484-10.4
Proposals1451129429.554.31,30995337.4
Prince Edward Island6963489.543.8717751-4.5
Bankruptcies4442334.833.3426449-5.1
Proposals25211519.066.7291302-3.6
Nova Scotia5364925478.9-2.05,6056,021-6.9
Bankruptcies34929736517.5-4.43,6004,119-12.6
Proposals187195182-4.12.72,0051,9025.4
New Brunswick42038142110.2-0.24,3214,415-2.1
Bankruptcies211212246-0.5-14.22,2902,725-16.0
Proposals20916917523.719.42,0311,69020.2
Quebec3,7863,5443,9246.8-3.541,81642,204-0.9
Bankruptcies2,0511,8402,20811.5-7.122,01723,530-6.4
Proposals1,7351,7041,7161.81.119,79918,6746.0
Ontario3,5963,4083,5365.51.738,02438,862-2.2
Bankruptcies1,4221,3381,5016.3-5.314,92916,201-7.9
Proposals2,1742,0702,0355.06.823,09522,6611.9
Manitoba222259204-14.38.82,6312,5523.1
Bankruptcies109133118-18.0-7.61,3561,379-1.7
Proposals11312686-10.331.41,2751,1738.7
Saskatchewan272299285-9.0-4.63,1763,0892.8
Bankruptcies103108143-4.6-28.01,2831,414-9.3
Proposals169191142-11.519.01,8931,67513.0
Alberta1,2711,2151,1854.67.313,62413,2133.1
Bankruptcies45240546011.6-1.74,8735,247-7.1
Proposals8198107251.113.08,7517,9669.9
British Columbia9538829368.01.810,00310,232-2.2
Bankruptcies39635741610.9-4.84,0594,412-8.0
Proposals5575255206.17.15,9445,8202.1
Northwest Territories3108-70.0-62.5936543.1
Bankruptcies263-66.7-33.3583470.6
Proposals145-75.0-80.0353112.9
Yukon3330.00.03945-13.3
Bankruptcies022-100.0-100.01621-23.8
Proposals311200.0200.02324-4.2
Nunavut1100.0n/a63100.0
Bankruptcies000n/an/a21100.0
Proposals1100.0n/a42100.0
Canada11,40010,78211,3115.70.8122,693123,889-1.0
Bankruptcies5,2624,8535,6158.4-6.356,23861,016-7.8
Proposals6,1385,9295,6963.57.866,45562,8735.7
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
May 2018Apr. 2018May 2017Apr. 2018
to
May 2018
May 2017
to
May 2018
05-31-201805-31-2017% Change
Newfoundland and Labrador1120.0-50.02633-21.2
Bankruptcies1110.00.02024-16.7
Proposals001n/a-100.069-33.3
Prince Edward Island002n/a-100.0514-64.3
Bankruptcies000n/an/a510-50.0
Proposals002n/a-100.004-100.0
Nova Scotia32550.0-40.05462-12.9
Bankruptcies314200.0-25.04453-17.0
Proposals011-100.0-100.010911.1
New Brunswick378-57.1-62.54854-11.1
Bankruptcies375-57.1-40.03844-13.6
Proposals003n/a-100.010100.0
Quebec19116819213.7-0.52,0702,094-1.1
Bankruptcies126131163-3.8-22.71,5491,581-2.0
Proposals65372975.7124.15215131.6
Ontario83758110.72.5890906-1.8
Bankruptcies6461634.91.6660675-2.2
Proposals19141835.75.6230231-0.4
Manitoba2250.0-60.03249-34.7
Bankruptcies2250.0-60.02639-33.3
Proposals000n/an/a610-40.0
Saskatchewan1081925.0-47.4120121-0.8
Bankruptcies66150.0-60.08893-5.4
Proposals424100.00.0322814.3
Alberta142323-39.1-39.12021925.2
Bankruptcies101915-47.4-33.3135143-5.6
Proposals4480.0-50.0674936.7
British Columbia81316-38.5-50.0118188-37.2
Bankruptcies61112-45.5-50.090148-39.2
Proposals2240.0-50.02840-30.0
Northwest Territories001n/a-100.001-100.0
Bankruptcies001n/a-100.001-100.0
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
Canada3152993545.4-11.03,5653,714-4.0
Bankruptcies221239284-7.5-22.22,6552,811-5.5
Proposals94607056.734.39109030.8
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sectorVolume% Change12-Month Period Ending
May 2018Apr. 2018May 2017Apr. 2018
to
May 2018
May 2017
to
May 2018
05-31-201805-31-2017% Change
Agriculture, Forestry, Fishing and Hunting86933.3-11.16483-22.9
Bankruptcies74775.00.04660-23.3
Proposals122-50.0-50.01823-21.7
Mining and Oil and Gas Extraction236-33.3-66.73775-50.7
Bankruptcies134-66.7-75.02353-56.6
Proposals102n/a-50.01422-36.4
Utilities010-100.0n/a810-20.0
Bankruptcies010-100.0n/a7616.7
Proposals000n/an/a14-75.0
Construction71647110.90.07136696.6
Bankruptcies5148556.3-7.35124845.8
Proposals20161625.025.02011858.6
Manufacturing242627-7.7-11.13093061.0
Bankruptcies142120-33.3-30.0208218-4.6
Proposals1057100.042.91018814.8
Wholesale Trade81516-46.7-50.0161177-9.0
Bankruptcies81313-38.5-38.5123134-8.2
Proposals023-100.0-100.03843-11.6
Retail Trade3129396.9-20.5382406-5.9
Bankruptcies2323300.0-23.33113023.0
Proposals86933.3-11.171104-31.7
Transportation and Warehousing152925-48.3-40.0211252-16.3
Bankruptcies102520-60.0-50.0168196-14.3
Proposals54525.00.04356-23.2
Information and Cultural Industries233-33.3-33.35768-16.2
Bankruptcies132-66.7-50.04849-2.0
Proposals101n/a0.0919-52.6
Finance and Insurance619500.0-33.36163-3.2
Bankruptcies218100.0-75.04358-25.9
Proposals401n/a300.0185260.0
Real Estate and Rental and Leasing1711654.5183.31471386.5
Bankruptcies149555.6180.011210110.9
Proposals32150.0200.03537-5.4
Professional, Scientific and Technical Services28242816.70.0261279-6.5
Bankruptcies162023-20.0-30.4198214-7.5
Proposals1245200.0140.06365-3.1
Management of Companies and Enterprises476-42.9-33.3847512.0
Bankruptcies43533.3-20.0635416.7
Proposals041-100.0-100.021210.0
Administrative and Support, Waste Management and Remediation Services18161712.55.9146197-25.9
Bankruptcies111316-15.4-31.3105150-30.0
Proposals731133.3600.04147-12.8
Educational Services040-100.0n/a2541-39.0
Bankruptcies040-100.0n/a1933-42.4
Proposals000n/an/a68-25.0
Health Care and Social Assistance98812.512.584779.1
Bankruptcies485-50.0-20.060600.0
Proposals503n/a66.7241741.2
Arts, Entertainment and Recreation727250.00.0807211.1
Bankruptcies626200.00.0605313.2
Proposals101n/a0.020195.3
Accommodation and Food Services45405712.5-21.1551562-2.0
Bankruptcies33304710.0-29.8396450-12.0
Proposals12101020.020.015511238.4
Other Services (except Public Administration)19101890.05.618015913.2
Bankruptcies1581687.5-6.315013213.6
Proposals422100.0100.0302711.1
Public Administration102n/a-50.045-20.0
Bankruptcies102n/a-50.034-25.0
Proposals000n/an/a110.0
Total3152993545.4-11.03,5653,714-4.0
Bankruptcies221239284-7.5-22.22,6552,811-5.5
Proposals94607056.734.39109030.8