Insolvency Statistics in Canada—May 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
May 2021 April 2021 May 2020 Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-2021 05-31-2020 % Change
Newfoundland and Labrador 155 197 122 -21.3 27.0 1,828 2,714 -32.6
Bankruptcies 63 80 68 -21.3 -7.4 703 1,267 -44.5
Proposals 92 117 54 -21.4 70.4 1,125 1,447 -22.3
Prince Edward Island 36 29 30 24.1 20.0 391 649 -39.8
Bankruptcies 23 10 12 130.0 91.7 171 335 -49.0
Proposals 13 19 18 -31.6 -27.8 220 314 -29.9
Nova Scotia 261 295 202 -11.5 29.2 3,140 5,394 -41.8
Bankruptcies 106 123 97 -13.8 9.3 1,400 2,662 -47.4
Proposals 155 172 105 -9.9 47.6 1,740 2,732 -36.3
New Brunswick 248 306 166 -19.0 49.4 3,198 4,487 -28.7
Bankruptcies 110 145 87 -24.1 26.4 1,462 2,046 -28.5
Proposals 138 161 79 -14.3 74.7 1,736 2,441 -28.9
Quebec 2,073 2,087 1,461 -0.7 41.9 25,252 39,776 -36.5
Bankruptcies 969 985 739 -1.6 31.1 11,814 18,505 -36.2
Proposals 1,104 1,102 722 0.2 52.9 13,438 21,271 -36.8
Ontario 2,445 2,704 2,412 -9.6 1.4 31,769 43,484 -26.9
Bankruptcies 693 777 647 -10.8 7.1 8,633 13,508 -36.1
Proposals 1,752 1,927 1,765 -9.1 -0.7 23,136 29,976 -22.8
Manitoba 187 224 188 -16.5 -0.5 2,392 3,115 -23.2
Bankruptcies 69 68 56 1.5 23.2 792 1,143 -30.7
Proposals 118 156 132 -24.4 -10.6 1,600 1,972 -18.9
Saskatchewan 249 243 197 2.5 26.4 2,679 3,374 -20.6
Bankruptcies 75 62 66 21.0 13.6 838 1,272 -34.1
Proposals 174 181 131 -3.9 32.8 1,841 2,102 -12.4
Alberta 1,207 1,317 885 -8.4 36.4 13,207 16,266 -18.8
Bankruptcies 232 294 237 -21.1 -2.1 3,300 5,049 -34.6
Proposals 975 1,023 648 -4.7 50.5 9,907 11,217 -11.7
British Columbia 752 795 633 -5.4 18.8 8,267 10,725 -22.9
Bankruptcies 182 238 186 -23.5 -2.2 2,388 3,837 -37.8
Proposals 570 557 447 2.3 27.5 5,879 6,888 -14.6
Northwest Territories 7 3 0 133.3 -- 52 57 -8.8
Bankruptcies 0 0 0 -- -- 7 12 -41.7
Proposals 7 3 0 133.3 -- 45 45 0.0
Yukon 2 3 8 -33.3 -75.0 31 38 -18.4
Bankruptcies 2 1 4 100.0 -50.0 11 14 -21.4
Proposals 0 2 4 -100.0 -100.0 20 24 -16.7
Nunavut 0 1 0 -100.0 -- 13 7 85.7
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 1 0 -100.0 -- 12 5 140.0
Canada 7,622 8,204 6,304 -7.1 20.9 92,219 130,086 -29.1
Bankruptcies 2,524 2,783 2,199 -9.3 14.8 31,520 49,652 -36.5
Proposals 5,098 5,421 4,105 -6.0 24.2 60,699 80,434 -24.5
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
May 2021 April 2021 May 2020 Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-2021 05-31-2020 % Change
Newfoundland and Labrador 152 197 122 -22.8 24.6 1,815 2,688 -32.5
Bankruptcies 60 80 68 -25.0 -11.8 690 1,247 -44.7
Proposals 92 117 54 -21.4 70.4 1,125 1,441 -21.9
Prince Edward Island 36 29 30 24.1 20.0 391 642 -39.1
Bankruptcies 23 10 12 130.0 91.7 171 330 -48.2
Proposals 13 19 18 -31.6 -27.8 220 312 -29.5
Nova Scotia 261 295 201 -11.5 29.9 3,127 5,348 -41.5
Bankruptcies 106 123 96 -13.8 10.4 1,388 2,624 -47.1
Proposals 155 172 105 -9.9 47.6 1,739 2,724 -36.2
New Brunswick 248 304 166 -18.4 49.4 3,174 4,458 -28.8
Bankruptcies 110 143 87 -23.1 26.4 1,447 2,023 -28.5
Proposals 138 161 79 -14.3 74.7 1,727 2,435 -29.1
Quebec 1,959 1,969 1,368 -0.5 43.2 23,737 37,921 -37.4
Bankruptcies 871 889 662 -2.0 31.6 10,570 17,119 -38.3
Proposals 1,088 1,080 706 0.7 54.1 13,167 20,802 -36.7
Ontario 2,405 2,654 2,343 -9.4 2.6 31,136 42,651 -27.0
Bankruptcies 658 742 592 -11.3 11.1 8,171 12,934 -36.8
Proposals 1,747 1,912 1,751 -8.6 -0.2 22,965 29,717 -22.7
Manitoba 186 223 186 -16.6 0.0 2,363 3,078 -23.2
Bankruptcies 68 67 54 1.5 25.9 766 1,115 -31.3
Proposals 118 156 132 -24.4 -10.6 1,597 1,963 -18.6
Saskatchewan 243 241 195 0.8 24.6 2,633 3,282 -19.8
Bankruptcies 73 60 65 21.7 12.3 801 1,206 -33.6
Proposals 170 181 130 -6.1 30.8 1,832 2,076 -11.8
Alberta 1,191 1,297 872 -8.2 36.6 13,051 16,056 -18.7
Bankruptcies 218 285 231 -23.5 -5.6 3,189 4,902 -34.9
Proposals 973 1,012 641 -3.9 51.8 9,862 11,154 -11.6
British Columbia 747 788 620 -5.2 20.5 8,163 10,595 -23.0
Bankruptcies 180 235 176 -23.4 2.3 2,317 3,758 -38.3
Proposals 567 553 444 2.5 27.7 5,846 6,837 -14.5
Northwest Territories 7 3 0 133.3 -- 52 55 -5.5
Bankruptcies 0 0 0 -- -- 7 11 -36.4
Proposals 7 3 0 133.3 -- 45 44 2.3
Yukon 2 3 8 -33.3 -75.0 31 38 -18.4
Bankruptcies 2 1 4 100.0 -50.0 11 14 -21.4
Proposals 0 2 4 -100.0 -100.0 20 24 -16.7
Nunavut 0 1 0 -100.0 -- 12 5 140.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 1 0 -100.0 -- 12 5 140.0
Canada 7,437 8,004 6,111 -7.1 21.7 89,685 126,817 -29.3
Bankruptcies 2,369 2,635 2,047 -10.1 15.7 29,528 47,283 -37.6
Proposals 5,068 5,369 4,064 -5.6 24.7 60,157 79,534 -24.4
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
May 2021 April 2021 May 2020 Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-2021 05-31-2020 % Change
Newfoundland and Labrador 3 0 0 -- -- 13 26 -50.0
Bankruptcies 3 0 0 -- -- 13 20 -35.0
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 0 0 1 -- -100.0 13 46 -71.7
Bankruptcies 0 0 1 -- -100.0 12 38 -68.4
Proposals 0 0 0 -- -- 1 8 -87.5
New Brunswick 0 2 0 -100.0 -- 24 29 -17.2
Bankruptcies 0 2 0 -100.0 -- 15 23 -34.8
Proposals 0 0 0 -- -- 9 6 50.0
Quebec 114 118 93 -3.4 22.6 1,515 1,855 -18.3
Bankruptcies 98 96 77 2.1 27.3 1,244 1,386 -10.2
Proposals 16 22 16 -27.3 0.0 271 469 -42.2
Ontario 40 50 69 -20.0 -42.0 633 833 -24.0
Bankruptcies 35 35 55 0.0 -36.4 462 574 -19.5
Proposals 5 15 14 -66.7 -64.3 171 259 -34.0
Manitoba 1 1 2 0.0 -50.0 29 37 -21.6
Bankruptcies 1 1 2 0.0 -50.0 26 28 -7.1
Proposals 0 0 0 -- -- 3 9 -66.7
Saskatchewan 6 2 2 200.0 200.0 46 92 -50.0
Bankruptcies 2 2 1 0.0 100.0 37 66 -43.9
Proposals 4 0 1 -- 300.0 9 26 -65.4
Alberta 16 20 13 -20.0 23.1 156 210 -25.7
Bankruptcies 14 9 6 55.6 133.3 111 147 -24.5
Proposals 2 11 7 -81.8 -71.4 45 63 -28.6
British Columbia 5 7 13 -28.6 -61.5 104 130 -20.0
Bankruptcies 2 3 10 -33.3 -80.0 71 79 -10.1
Proposals 3 4 3 -25.0 0.0 33 51 -35.3
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 185 200 193 -7.5 -4.1 2,534 3,269 -22.5
Bankruptcies 155 148 152 4.7 2.0 1,992 2,369 -15.9
Proposals 30 52 41 -42.3 -26.8 542 900 -39.8
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
May 2021 April 2021 May 2020 Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-2021 05-31-2020 % Change
Newfoundland and Labrador 1 0 0 -- -- 5 9 -44.4
Bankruptcies 1 0 0 -- -- 5 6 -16.7
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 0 0 0 -- -- 7 27 -74.1
Bankruptcies 0 0 0 -- -- 7 19 -63.2
Proposals 0 0 0 -- -- 0 8 -100.0
New Brunswick 0 1 0 -100.0 -- 13 21 -38.1
Bankruptcies 0 1 0 -100.0 -- 10 16 -37.5
Proposals 0 0 0 -- -- 3 5 -40.0
Quebec 103 102 83 1.0 24.1 1,335 1,621 -17.6
Bankruptcies 89 88 70 1.1 27.1 1,125 1,245 -9.6
Proposals 14 14 13 0.0 7.7 210 376 -44.1
Ontario 28 35 50 -20.0 -44.0 439 448 -2.0
Bankruptcies 25 26 43 -3.8 -41.9 349 327 6.7
Proposals 3 9 7 -66.7 -57.1 90 121 -25.6
Manitoba 0 1 0 -100.0 -- 8 19 -57.9
Bankruptcies 0 1 0 -100.0 -- 7 13 -46.2
Proposals 0 0 0 -- -- 1 6 -83.3
Saskatchewan 4 1 1 300.0 300.0 22 11 100.0
Bankruptcies 1 1 1 0.0 0.0 17 9 88.9
Proposals 3 0 0 -- -- 5 2 150.0
Alberta 7 15 8 -53.3 -12.5 91 128 -28.9
Bankruptcies 7 8 3 -12.5 133.3 69 93 -25.8
Proposals 0 7 5 -100.0 -100.0 22 35 -37.1
British Columbia 3 3 10 0.0 -70.0 72 63 14.3
Bankruptcies 0 1 8 -100.0 -100.0 48 39 23.1
Proposals 3 2 2 50.0 50.0 24 24 0.0
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 146 158 152 -7.6 -3.9 1,993 2,353 -15.3
Bankruptcies 123 126 125 -2.4 -1.6 1,638 1,770 -7.5
Proposals 23 32 27 -28.1 -14.8 355 583 -39.1
Table 3b: Insolvencies Filed by Individual Businesses
ProvinceVolume% Change12-Month Period Ending
May 2021April 2021May 2020Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-202105-31-2020% Change
Newfoundland and Labrador200----817-52.9
Bankruptcies200----814-42.9
Proposals000----03-100.0
Prince Edward Island000----04-100.0
Bankruptcies000----04-100.0
Proposals000----00--
Nova Scotia001---100.0619-68.4
Bankruptcies001---100.0519-73.7
Proposals000----10--
New Brunswick010-100.0--11837.5
Bankruptcies010-100.0--57-28.6
Proposals000----61500.0
Quebec111610-31.310.0180234-23.1
Bankruptcies98712.528.6119141-15.6
Proposals283-75.0-33.36193-34.4
Ontario121519-20.0-36.8194385-49.6
Bankruptcies1091211.1-16.7113247-54.3
Proposals267-66.7-71.481138-41.3
Manitoba102---50.0211816.7
Bankruptcies102---50.0191526.7
Proposals000----23-33.3
Saskatchewan211100.0100.02481-70.4
Bankruptcies1100.0--2057-64.9
Proposals101--0.0424-83.3
Alberta95580.080.06582-20.7
Bankruptcies713600.0133.34254-22.2
Proposals242-50.00.02328-17.9
British Columbia243-50.0-33.33267-52.2
Bankruptcies2220.00.02340-42.5
Proposals021-100.0-100.0927-66.7
Northwest Territories000----01-100.0
Bankruptcies000----01-100.0
Proposals000----00--
Yukon000----00--
Bankruptcies000----00--
Proposals000----00--
Nunavut000----00--
Bankruptcies000----00--
Proposals000----00--
Canada394241-7.1-4.9541916-40.9
Bankruptcies32222745.518.5354599-40.9
Proposals72014-65.0-50.0187317-41.0
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
May 2021April 2021May 2020Apr. 2021
to
May 2021
May 2020
to
May 2021
05-31-202105-31-2020% Change
Agriculture, Forestry, Fishing and Hunting364-50.0-25.061568.9
Bankruptcies344-25.0-25.0493636.1
Proposals020-100.0--1220-40.0
Mining and Oil and Gas Extraction74575.040.0503542.9
Bankruptcies732133.3250.0352259.1
Proposals013-100.0-100.0151315.4
Utilities101--0.047-42.9
Bankruptcies001---100.036-50.0
Proposals100----110.0
Construction31181372.2138.5312538-42.0
Bankruptcies26138100.0225.0255373-31.6
Proposals5550.00.057165-65.5
Manufacturing152118-28.6-16.7223309-27.8
Bankruptcies1313150.0-13.3169215-21.4
Proposals283-75.0-33.35494-42.6
Wholesale Trade387-62.5-57.1122163-25.2
Bankruptcies365-50.0-40.096117-17.9
Proposals022-100.0-100.02646-43.5
Retail Trade24192726.3-11.1303399-24.1
Bankruptcies19161918.80.0230292-21.2
Proposals53866.7-37.573107-31.8
Transportation and Warehousing14158-6.775.0159187-15.0
Bankruptcies13146-7.1116.7129138-6.5
Proposals1120.0-50.03049-38.8
Information and Cultural Industries133-66.7-66.73671-49.3
Bankruptcies132-66.7-50.02951-43.1
Proposals001---100.0720-65.0
Finance and Insurance060-100.0--514221.4
Bankruptcies040-100.0--423327.3
Proposals020-100.0--990.0
Real Estate and Rental and Leasing51212-58.3-58.3134147-8.8
Bankruptcies4810-50.0-60.0103985.1
Proposals142-75.0-50.03149-36.7
Professional, Scientific and Technical Services15179-11.866.7160240-33.3
Bankruptcies1412716.7100.0133183-27.3
Proposals152-80.0-50.02757-52.6
Management of Companies and Enterprises87814.30.08289-7.9
Bankruptcies76716.70.065650.0
Proposals1110.00.01724-29.2
Administrative and Support, Waste Management and Remediation Services5126-58.3-16.7123148-16.9
Bankruptcies2104-80.0-50.09297-5.2
Proposals32250.050.03151-39.2
Educational Services402--100.0403033.3
Bankruptcies402--100.0332343.5
Proposals000----770.0
Health Care and Social Assistance577-28.6-28.67374-1.4
Bankruptcies264-66.7-50.0564816.7
Proposals313200.00.01726-34.6
Arts, Entertainment and Recreation5914-44.4-64.39597-2.1
Bankruptcies44120.0-66.77078-10.3
Proposals152-80.0-50.0251931.6
Accommodation and Food Services262737-3.7-29.7375448-16.3
Bankruptcies22183522.2-37.1295354-16.7
Proposals492-55.6100.08094-14.9
Other Services (except Public Administration)1271271.40.0125189-33.9
Bankruptcies106966.711.1103140-26.4
Proposals213100.0-33.32249-55.1
Public Administration120-50.0--60--
Bankruptcies120-50.0--50--
Proposals000----10--
Canada185200193-7.5-4.12,5343,269-22.5
Bankruptcies1551481524.72.01,9922,369-15.9
Proposals305241-42.3-26.8542900-39.8