Insolvency Statistics in Canada—May 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
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Newfoundland and Labrador  122 116 295 5.2 -58.6 2,714 3,046 -10.9
Bankruptcies 68 51 130 33.3 -47.7 1,267 1,466 -13.6
Proposals 54 65 165 -16.9 -67.3 1,447 1,580 -8.4
Prince Edward Island 30 37 76 -18.9 -60.5 649 727 -10.7
Bankruptcies 12 16 37 -25.0 -67.6 335 399 -16.0
Proposals 18 21 39 -14.3 -53.8 314 328 -4.3
Nova Scotia 202 274 553 -26.3 -63.5 5,394 5,752 -6.2
Bankruptcies 97 112 298 -13.4 -67.4 2,662 3,451 -22.9
Proposals 105 162 255 -35.2 -58.8 2,732 2,301 18.7
New Brunswick 166 232 429 -28.4 -61.3 4,487 4,716 -4.9
Bankruptcies 87 102 231 -14.7 -62.3 2,046 2,379 -14.0
Proposals 79 130 198 -39.2 -60.1 2,441 2,337 4.5
Quebec 1,461 1,667 4,082 -12.4 -64.2 39,776 44,045 -9.7
Bankruptcies 739 748 2,046 -1.2 -63.9 18,505 22,222 -16.7
Proposals 722 919 2,036 -21.4 -64.5 21,271 21,823 -2.5
Ontario 2,412 2,471 4,255 -2.4 -43.3 43,484 41,673 4.3
Bankruptcies 647 674 1,524 -4.0 -57.5 13,508 15,147 -10.8
Proposals 1,765 1,797 2,731 -1.8 -35.4 29,976 26,526 13.0
Manitoba 188 211 267 -10.9 -29.6 3,115 3,059 1.8
Bankruptcies 56 61 136 -8.2 -58.8 1,143 1,460 -21.7
Proposals 132 150 131 -12.0 0.8 1,972 1,599 23.3
Saskatchewan 197 196 309 0.5 -36.2 3,374 3,547 -4.9
Bankruptcies 66 59 119 11.9 -44.5 1,272 1,368 -7.0
Proposals 131 137 190 -4.4 -31.1 2,102 2,179 -3.5
Alberta 885 1,000 1,414 -11.5 -37.4 16,266 15,637 4.0
Bankruptcies 237 266 493 -10.9 -51.9 5,049 5,420 -6.8
Proposals 648 734 921 -11.7 -29.6 11,217 10,217 9.8
British Columbia 633 650 1,001 -2.6 -36.8 10,725 10,466 2.5
Bankruptcies 186 200 382 -7.0 -51.3 3,837 4,047 -5.2
Proposals 447 450 619 -0.7 -27.8 6,888 6,419 7.3
Northwest Territories 0 2 4 -100.0 -100.0 57 69 -17.4
Bankruptcies 0 0 0 n/a n/a 12 28 -57.1
Proposals 0 2 4 -100.0 -100.0 45 41 9.8
Yukon 8 5 6 60.0 33.3 38 31 22.6
Bankruptcies 4 0 3 n/a 33.3 14 12 16.7
Proposals 4 5 3 -20.0 33.3 24 19 26.3
Nunavut 0 3 0 -100.0 n/a 7 5 40.0
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 3 0 -100.0 n/a 5 5 0.0
Canada 6,304 6,864 12,691 -8.2 -50.3 130,086 132,773 -2.0
Bankruptcies 2,199 2,289 5,399 -3.9 -59.3 49,652 57,399 -13.5
Proposals 4,105 4,575 7,292 -10.3 -43.7 80,434 75,374 6.7
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Newfoundland and Labrador  122 116 291 5.2 -58.1 2,688 3,011 -10.7
Bankruptcies 68 51 126 33.3 -46.0 1,247 1,435 -13.1
Proposals 54 65 165 -16.9 -67.3 1,441 1,576 -8.6
Prince Edward Island 30 36 74 -16.7 -59.5 642 719 -10.7
Bankruptcies 12 16 35 -25.0 -65.7 330 392 -15.8
Proposals 18 20 39 -10.0 -53.8 312 327 -4.6
Nova Scotia 201 274 548 -26.6 -63.3 5,348 5,700 -6.2
Bankruptcies 96 112 294 -14.3 -67.3 2,624 3,410 -23.0
Proposals 105 162 254 -35.2 -58.7 2,724 2,290 19.0
New Brunswick 166 232 425 -28.4 -60.9 4,458 4,675 -4.6
Bankruptcies 87 102 228 -14.7 -61.8 2,023 2,348 -13.8
Proposals 79 130 197 -39.2 -59.9 2,435 2,327 4.6
Quebec 1,368 1,587 3,905 -13.8 -65.0 37,921 41,897 -9.5
Bankruptcies 662 690 1,920 -4.1 -65.5 17,119 20,568 -16.8
Proposals 706 897 1,985 -21.3 -64.4 20,802 21,329 -2.5
Ontario 2,343 2,416 4,172 -3.0 -43.8 42,651 40,714 4.8
Bankruptcies 592 637 1,456 -7.1 -59.3 12,934 14,449 -10.5
Proposals 1,751 1,779 2,716 -1.6 -35.5 29,717 26,265 13.1
Manitoba 186 206 263 -9.7 -29.3 3,078 3,025 1.8
Bankruptcies 54 57 133 -5.3 -59.4 1,115 1,431 -22.1
Proposals 132 149 130 -11.4 1.5 1,963 1,594 23.1
Saskatchewan 195 195 295 0.0 -33.9 3,282 3,452 -4.9
Bankruptcies 65 59 111 10.2 -41.4 1,206 1,314 -8.2
Proposals 130 136 184 -4.4 -29.3 2,076 2,138 -2.9
Alberta 872 990 1,401 -11.9 -37.8 16,056 15,430 4.1
Bankruptcies 231 260 482 -11.2 -52.1 4,902 5,256 -6.7
Proposals 641 730 919 -12.2 -30.3 11,154 10,174 9.6
British Columbia 620 638 991 -2.8 -37.4 10,595 10,358 2.3
Bankruptcies 176 197 375 -10.7 -53.1 3,758 3,972 -5.4
Proposals 444 441 616 0.7 -27.9 6,837 6,386 7.1
Northwest Territories 0 2 4 -100.0 -100.0 55 69 -20.3
Bankruptcies 0 0 0 n/a n/a 11 28 -60.7
Proposals 0 2 4 -100.0 -100.0 44 41 7.3
Yukon 8 5 6 60.0 33.3 38 31 22.6
Bankruptcies 4 0 3 n/a 33.3 14 12 16.7
Proposals 4 5 3 -20.0 33.3 24 19 26.3
Nunavut 0 3 0 -100.0 n/a 5 5 0.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 3 0 -100.0 n/a 5 5 0.0
Canada 6,111 6,700 12,375 -8.8 -50.6 126,817 129,086 -1.8
Bankruptcies 2,047 2,181 5,163 -6.1 -60.4 47,283 54,615 -13.4
Proposals 4,064 4,519 7,212 -10.1 -43.6 79,534 74,471 6.8
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Newfoundland and Labrador  0 0 4 n/a -100.0 26 35 -25.7
Bankruptcies 0 0 4 n/a -100.0 20 31 -35.5
Proposals 0 0 0 n/a n/a 6 4 50.0
Prince Edward Island 0 1 2 -100.0 -100.0 7 8 -12.5
Bankruptcies 0 0 2 n/a -100.0 5 7 -28.6
Proposals 0 1 0 -100.0 n/a 2 1 100.0
Nova Scotia 1 0 5 n/a -80.0 46 52 -11.5
Bankruptcies 1 0 4 n/a -75.0 38 41 -7.3
Proposals 0 0 1 n/a -100.0 8 11 -27.3
New Brunswick 0 0 4 n/a -100.0 29 41 -29.3
Bankruptcies 0 0 3 n/a -100.0 23 31 -25.8
Proposals 0 0 1 n/a -100.0 6 10 -40.0
Quebec 93 80 177 16.3 -47.5 1,855 2,148 -13.6
Bankruptcies 77 58 126 32.8 -38.9 1,386 1,654 -16.2
Proposals 16 22 51 -27.3 -68.6 469 494 -5.1
Ontario 69 55 83 25.5 -16.9 833 959 -13.1
Bankruptcies 55 37 68 48.6 -19.1 574 698 -17.8
Proposals 14 18 15 -22.2 -6.7 259 261 -0.8
Manitoba 2 5 4 -60.0 -50.0 37 34 8.8
Bankruptcies 2 4 3 -50.0 -33.3 28 29 -3.4
Proposals 0 1 1 -100.0 -100.0 9 5 80.0
Saskatchewan 2 1 14 100.0 -85.7 92 95 -3.2
Bankruptcies 1 0 8 n/a -87.5 66 54 22.2
Proposals 1 1 6 0.0 -83.3 26 41 -36.6
Alberta 13 10 13 30.0 0.0 210 207 1.4
Bankruptcies 6 6 11 0.0 -45.5 147 164 -10.4
Proposals 7 4 2 75.0 250.0 63 43 46.5
British Columbia 13 12 10 8.3 30.0 130 108 20.4
Bankruptcies 10 3 7 233.3 42.9 79 75 5.3
Proposals 3 9 3 -66.7 0.0 51 33 54.5
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 193 164 316 17.7 -38.9 3,269 3,687 -11.3
Bankruptcies 152 108 236 40.7 -35.6 2,369 2,784 -14.9
Proposals 41 56 80 -26.8 -48.8 900 903 -0.3
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Newfoundland and Labrador  0 0 0 n/a n/a 9 14 -35.7
Bankruptcies 0 0 0 n/a n/a 6 10 -40.0
Proposals 0 0 0 n/a n/a 3 4 -25.0
Prince Edward Island 0 1 0 -100.0 n/a 3 3 0.0
Bankruptcies 0 0 0 n/a n/a 1 3 -66.7
Proposals 0 1 0 -100.0 n/a 2 0 n/a
Nova Scotia 0 0 1 n/a -100.0 27 25 8.0
Bankruptcies 0 0 1 n/a -100.0 19 21 -9.5
Proposals 0 0 0 n/a n/a 8 4 100.0
New Brunswick 0 0 4 n/a -100.0 21 24 -12.5
Bankruptcies 0 0 3 n/a -100.0 16 21 -23.8
Proposals 0 0 1 n/a -100.0 5 3 66.7
Quebec 83 71 160 16.9 -48.1 1,621 1,882 -13.9
Bankruptcies 70 55 115 27.3 -39.1 1,245 1,475 -15.6
Proposals 13 16 45 -18.8 -71.1 376 407 -7.6
Ontario 50 39 49 28.2 2.0 448 570 -21.4
Bankruptcies 43 27 42 59.3 2.4 327 426 -23.2
Proposals 7 12 7 -41.7 0.0 121 144 -16.0
Manitoba 0 3 3 -100.0 -100.0 19 7 171.4
Bankruptcies 0 3 2 -100.0 -100.0 13 5 160.0
Proposals 0 0 1 n/a -100.0 6 2 200.0
Saskatchewan 1 0 1 n/a 0.0 11 5 120.0
Bankruptcies 1 0 0 n/a n/a 9 3 200.0
Proposals 0 0 1 n/a -100.0 2 2 0.0
Alberta 8 5 3 60.0 166.7 128 88 45.5
Bankruptcies 3 4 3 -25.0 0.0 93 71 31.0
Proposals 5 1 0 400.0 n/a 35 17 105.9
British Columbia 10 9 5 11.1 100.0 63 45 40.0
Bankruptcies 8 1 3 700.0 166.7 39 25 56.0
Proposals 2 8 2 -75.0 0.0 24 20 20.0
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 152 128 226 18.8 -32.7 2,353 2,663 -11.6
Bankruptcies 125 90 169 38.9 -26.0 1,770 2,060 -14.1
Proposals 27 38 57 -28.9 -52.6 583 603 -3.3
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Newfoundland and Labrador  0 0 4 n/a -100.0 17 21 -19.0
Bankruptcies 0 0 4 n/a -100.0 14 21 -33.3
Proposals 0 0 0 n/a n/a 3 0 n/a
Prince Edward Island 0 0 2 n/a -100.0 4 5 -20.0
Bankruptcies 0 0 2 n/a -100.0 4 4 0.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia 1 0 4 n/a -75.0 19 27 -29.6
Bankruptcies 1 0 3 n/a -66.7 19 20 -5.0
Proposals 0 0 1 n/a -100.0 0 7 -100.0
New Brunswick 0 0 0 n/a n/a 8 17 -52.9
Bankruptcies 0 0 0 n/a n/a 7 10 -30.0
Proposals 0 0 0 n/a n/a 1 7 -85.7
Quebec 10 9 17 11.1 -41.2 234 266 -12.0
Bankruptcies 7 3 11 133.3 -36.4 141 179 -21.2
Proposals 3 6 6 -50.0 -50.0 93 87 6.9
Ontario 19 16 34 18.8 -44.1 385 389 -1.0
Bankruptcies 12 10 26 20.0 -53.8 247 272 -9.2
Proposals 7 6 8 16.7 -12.5 138 117 17.9
Manitoba 2 2 1 0.0 100.0 18 27 -33.3
Bankruptcies 2 1 1 100.0 100.0 15 24 -37.5
Proposals 0 1 0 -100.0 n/a 3 3 0.0
Saskatchewan 1 1 13 0.0 -92.3 81 90 -10.0
Bankruptcies 0 0 8 n/a -100.0 57 51 11.8
Proposals 1 1 5 0.0 -80.0 24 39 -38.5
Alberta 5 5 10 0.0 -50.0 82 119 -31.1
Bankruptcies 3 2 8 50.0 -62.5 54 93 -41.9
Proposals 2 3 2 -33.3 0.0 28 26 7.7
British Columbia 3 3 5 0.0 -40.0 67 63 6.3
Bankruptcies 2 2 4 0.0 -50.0 40 50 -20.0
Proposals 1 1 1 0.0 0.0 27 13 107.7
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 41 36 90 13.9 -54.4 916 1,024 -10.5
Bankruptcies 27 18 67 50.0 -59.7 599 724 -17.3
Proposals 14 18 23 -22.2 -39.1 317 300 5.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
May 2020 April 2020 May 2019 Apr. 2020 to
May 2020
May 2019 to
May 2020
05-31-2020 05-31-2019 % Change
Agriculture, Forestry, Fishing and Hunting  4 1 4 300.0 0.0 56 67 -16.4
Bankruptcies 4 0 3 n/a 33.3 36 48 -25.0
Proposals 0 1 1 -100.0 -100.0 20 19 5.3
Mining and Oil and Gas Extraction 5 0 2 n/a 150.0 35 32 9.4
Bankruptcies 2 0 1 n/a 100.0 22 20 10.0
Proposals 3 0 1 n/a 200.0 13 12 8.3
Utilities 1 0 3 n/a -66.7 7 6 16.7
Bankruptcies 1 0 1 n/a 0.0 6 2 200.0
Proposals 0 0 2 n/a -100.0 1 4 -75.0
Construction 13 23 74 -43.5 -82.4 538 708 -24.0
Bankruptcies 8 12 51 -33.3 -84.3 373 533 -30.0
Proposals 5 11 23 -54.5 -78.3 165 175 -5.7
Manufacturing  18 15 32 20.0 -43.8 309 323 -4.3
Bankruptcies 15 12 25 25.0 -40.0 215 238 -9.7
Proposals 3 3 7 0.0 -57.1 94 85 10.6
Wholesale Trade 7 6 12 16.7 -41.7 163 179 -8.9
Bankruptcies 5 5 8 0.0 -37.5 117 129 -9.3
Proposals 2 1 4 100.0 -50.0 46 50 -8.0
Retail Trade 27 26 28 3.8 -3.6 399 395 1.0
Bankruptcies 19 16 20 18.8 -5.0 292 308 -5.2
Proposals 8 10 8 -20.0 0.0 107 87 23.0
Transportation and Warehousing 8 4 23 100.0 -65.2 187 237 -21.1
Bankruptcies 6 3 16 100.0 -62.5 138 178 -22.5
Proposals 2 1 7 100.0 -71.4 49 59 -16.9
Information and Cultural Industries 3 3 3 0.0 0.0 71 75 -5.3
Bankruptcies 2 1 3 100.0 -33.3 51 56 -8.9
Proposals 1 2 0 -50.0 n/a 20 19 5.3
Finance and Insurance  0 3 6 -100.0 -100.0 42 74 -43.2
Bankruptcies 0 0 5 n/a -100.0 33 59 -44.1
Proposals 0 3 1 -100.0 -100.0 9 15 -40.0
Real Estate and Rental and Leasing  12 13 10 -7.7 20.0 147 149 -1.3
Bankruptcies 10 9 10 11.1 0.0 98 110 -10.9
Proposals 2 4 0 -50.0 n/a 49 39 25.6
Professional, Scientific and Technical Services 9 11 21 -18.2 -57.1 240 264 -9.1
Bankruptcies 7 8 17 -12.5 -58.8 183 202 -9.4
Proposals 2 3 4 -33.3 -50.0 57 62 -8.1
Management of Companies and Enterprises 8 8 6 0.0 33.3 89 88 1.1
Bankruptcies 7 4 5 75.0 40.0 65 74 -12.2
Proposals 1 4 1 -75.0 0.0 24 14 71.4
Administrative and Support, Waste Management and Remediation Services 6 9 19 -33.3 -68.4 148 157 -5.7
Bankruptcies 4 5 15 -20.0 -73.3 97 105 -7.6
Proposals 2 4 4 -50.0 -50.0 51 52 -1.9
Educational Services  2 0 1 n/a 100.0 30 31 -3.2
Bankruptcies 2 0 1 n/a 100.0 23 22 4.5
Proposals 0 0 0 n/a n/a 7 9 -22.2
Health Care and Social Assistance 7 2 5 250.0 40.0 74 78 -5.1
Bankruptcies 4 2 1 100.0 300.0 48 50 -4.0
Proposals 3 0 4 n/a -25.0 26 28 -7.1
Arts, Entertainment and Recreation 14 9 6 55.6 133.3 97 67 44.8
Bankruptcies 12 8 5 50.0 140.0 78 51 52.9
Proposals 2 1 1 100.0 100.0 19 16 18.8
Accommodation and Food Services 37 18 44 105.6 -15.9 448 553 -19.0
Bankruptcies 35 15 35 133.3 0.0 354 444 -20.3
Proposals 2 3 9 -33.3 -77.8 94 109 -13.8
Other Services (except Public Administration) 12 13 17 -7.7 -29.4 189 202 -6.4
Bankruptcies 9 8 14 12.5 -35.7 140 154 -9.1
Proposals 3 5 3 -40.0 0.0 49 48 2.1
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 193 164 316 17.7 -38.9 3,269 3,687 -11.3
Bankruptcies 152 108 236 40.7 -35.6 2,369 2,784 -14.9
Proposals 41 56 80 -26.8 -48.8 900 903 -0.3