Insolvency Statistics in Canada—November 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
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Newfoundland and Labrador 165 178 276 -7.3 -40.2 1,982 3,227 -38.6
Bankruptcies 41 71 134 -42.3 -69.4 828 1,509 -45.1
Proposals 124 107 142 15.9 -12.7 1,154 1,718 -32.8
Prince Edward Island 37 26 71 42.3 -47.9 447 762 -41.3
Bankruptcies 17 13 38 30.8 -55.3 224 395 -43.3
Proposals 20 13 33 53.8 -39.4 223 367 -39.2
Nova Scotia 274 288 478 -4.9 -42.7 3,752 6,006 -37.5
Bankruptcies 124 132 232 -6.1 -46.6 1,736 3,258 -46.7
Proposals 150 156 246 -3.8 -39.0 2,016 2,748 -26.6
New Brunswick 312 269 400 16.0 -22.0 3,441 4,898 -29.7
Bankruptcies 158 134 199 17.9 -20.6 1,526 2,409 -36.7
Proposals 154 135 201 14.1 -23.4 1,915 2,489 -23.1
Quebec 2,257 2,463 3,741 -8.4 -39.7 29,501 44,732 -34.0
Bankruptcies 1,049 1,119 1,807 -6.3 -41.9 13,496 21,711 -37.8
Proposals 1,208 1,344 1,934 -10.1 -37.5 16,005 23,021 -30.5
Ontario 2,845 2,904 4,069 -2.0 -30.1 35,500 45,343 -21.7
Bankruptcies 783 727 1,211 7.7 -35.3 10,100 15,176 -33.4
Proposals 2,062 2,177 2,858 -5.3 -27.9 25,400 30,167 -15.8
Manitoba 193 206 289 -6.3 -33.2 2,621 3,150 -16.8
Bankruptcies 64 63 100 1.6 -36.0 841 1,377 -38.9
Proposals 129 143 189 -9.8 -31.7 1,780 1,773 0.4
Saskatchewan 219 216 355 1.4 -38.3 2,708 3,528 -23.2
Bankruptcies 84 75 140 12.0 -40.0 961 1,370 -29.9
Proposals 135 141 215 -4.3 -37.2 1,747 2,158 -19.0
Alberta 1,104 1,135 1,506 -2.7 -26.7 13,492 16,674 -19.1
Bankruptcies 280 330 490 -15.2 -42.9 3,860 5,691 -32.2
Proposals 824 805 1,016 2.4 -18.9 9,632 10,983 -12.3
British Columbia 715 687 924 4.1 -22.6 8,611 11,224 -23.3
Bankruptcies 178 237 345 -24.9 -48.4 2,826 4,187 -32.5
Proposals 537 450 579 19.3 -7.3 5,785 7,037 -17.8
Northwest Territories 0 2 4 -100.0 -100.0 46 67 -31.3
Bankruptcies 0 0 0 n/a n/a 12 12 0.0
Proposals 0 2 4 -100.0 -100.0 34 55 -38.2
Yukon 7 1 7 600.0 0.0 34 37 -8.1
Bankruptcies 2 1 4 100.0 -50.0 11 14 -21.4
Proposals 5 0 3 n/a 66.7 23 23 0.0
Nunavut 2 0 3 n/a -33.3 9 8 12.5
Bankruptcies 0 0 2 n/a -100.0 1 2 -50.0
Proposals 2 0 1 n/a 100.0 8 6 33.3
Canada 8,130 8,375 12,123 -2.9 -32.9 102,144 139,656 -26.9
Bankruptcies 2,780 2,902 4,702 -4.2 -40.9 36,422 57,111 -36.2
Proposals 5,350 5,473 7,421 -2.2 -27.9 65,722 82,545 -20.4
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Newfoundland and Labrador 163 178 271 -8.4 -39.9 1,969 3,186 -38.2
Bankruptcies 39 71 132 -45.1 -70.5 815 1,475 -44.7
Proposals 124 107 139 15.9 -10.8 1,154 1,711 -32.6
Prince Edward Island 37 26 70 42.3 -47.1 443 754 -41.2
Bankruptcies 17 13 37 30.8 -54.1 221 388 -43.0
Proposals 20 13 33 53.8 -39.4 222 366 -39.3
Nova Scotia 274 284 472 -3.5 -41.9 3,728 5,951 -37.4
Bankruptcies 124 129 226 -3.9 -45.1 1,715 3,211 -46.6
Proposals 150 155 246 -3.2 -39.0 2,013 2,740 -26.5
New Brunswick 309 266 397 16.2 -22.2 3,422 4,852 -29.5
Bankruptcies 155 131 197 18.3 -21.3 1,511 2,374 -36.4
Proposals 154 135 200 14.1 -23.0 1,911 2,478 -22.9
Quebec 2,142 2,330 3,564 -8.1 -39.9 27,855 42,605 -34.6
Bankruptcies 952 1,019 1,680 -6.6 -43.3 12,221 20,076 -39.1
Proposals 1,190 1,311 1,884 -9.2 -36.8 15,634 22,529 -30.6
Ontario 2,787 2,837 3,996 -1.8 -30.3 34,737 44,440 -21.8
Bankruptcies 747 681 1,158 9.7 -35.5 9,572 14,514 -34.0
Proposals 2,040 2,156 2,838 -5.4 -28.1 25,165 29,926 -15.9
Manitoba 193 204 288 -5.4 -33.0 2,583 3,115 -17.1
Bankruptcies 64 61 99 4.9 -35.4 811 1,347 -39.8
Proposals 129 143 189 -9.8 -31.7 1,772 1,768 0.2
Saskatchewan 216 216 344 0.0 -37.2 2,657 3,428 -22.5
Bankruptcies 81 75 133 8.0 -39.1 919 1,310 -29.8
Proposals 135 141 211 -4.3 -36.0 1,738 2,118 -17.9
Alberta 1,086 1,119 1,491 -2.9 -27.2 13,321 16,446 -19.0
Bankruptcies 265 319 480 -16.9 -44.8 3,729 5,528 -32.5
Proposals 821 800 1,011 2.6 -18.8 9,592 10,918 -12.1
British Columbia 703 672 916 4.6 -23.3 8,479 11,098 -23.6
Bankruptcies 169 224 338 -24.6 -50.0 2,744 4,096 -33.0
Proposals 534 448 578 19.2 -7.6 5,735 7,002 -18.1
Northwest Territories 0 2 4 -100.0 -100.0 46 65 -29.2
Bankruptcies 0 0 0 n/a n/a 12 11 9.1
Proposals 0 2 4 -100.0 -100.0 34 54 -37.0
Yukon 7 1 7 600.0 0.0 34 37 -8.1
Bankruptcies 2 1 4 100.0 -50.0 11 14 -21.4
Proposals 5 0 3 n/a 66.7 23 23 0.0
Nunavut 2 0 1 n/a 100.0 8 6 33.3
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 2 0 1 n/a 100.0 8 6 33.3
Canada 7,919 8,135 11,821 -2.7 -33.0 99,282 135,983 -27.0
Bankruptcies 2,615 2,724 4,484 -4.0 -41.7 34,281 54,344 -36.9
Proposals 5,304 5,411 7,337 -2.0 -27.7 65,001 81,639 -20.4
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Newfoundland and Labrador 2 0 5 n/a -60.0 13 41 -68.3
Bankruptcies 2 0 2 n/a 0.0 13 34 -61.8
Proposals 0 0 3 n/a -100.0 - 7 -100.0
Prince Edward Island 0 0 1 n/a -100.0 4 8 -50.0
Bankruptcies 0 0 1 n/a -100.0 3 7 -57.1
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 0 4 6 -100.0 -100.0 24 55 -56.4
Bankruptcies 0 3 6 -100.0 -100.0 21 47 -55.3
Proposals 0 1 0 -100.0 n/a 3 8 -62.5
New Brunswick 3 3 3 0.0 0.0 19 46 -58.7
Bankruptcies 3 3 2 0.0 50.0 15 35 -57.1
Proposals 0 0 1 n/a -100.0 4 11 -63.6
Quebec 115 133 177 -13.5 -35.0 1,646 2,127 -22.6
Bankruptcies 97 100 127 -3.0 -23.6 1,275 1,635 -22.0
Proposals 18 33 50 -45.5 -64.0 371 492 -24.6
Ontario 58 67 73 -13.4 -20.5 763 903 -15.5
Bankruptcies 36 46 53 -21.7 -32.1 528 662 -20.2
Proposals 22 21 20 4.8 10.0 235 241 -2.5
Manitoba 0 2 1 -100.0 -100.0 38 35 8.6
Bankruptcies 0 2 1 -100.0 -100.0 30 30 0.0
Proposals 0 0 0 n/a n/a 8 5 60.0
Saskatchewan 3 0 11 n/a -72.7 51 100 -49.0
Bankruptcies 3 0 7 n/a -57.1 42 60 -30.0
Proposals 0 0 4 n/a -100.0 9 40 -77.5
Alberta 18 16 15 12.5 20.0 171 228 -25.0
Bankruptcies 15 11 10 36.4 50.0 131 163 -19.6
Proposals 3 5 5 -40.0 -40.0 40 65 -38.5
British Columbia 12 15 8 -20.0 50.0 132 126 4.8
Bankruptcies 9 13 7 -30.8 28.6 82 91 -9.9
Proposals 3 2 1 50.0 200.0 50 35 42.9
Northwest Territories 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
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 2 n/a -100.0 1 2 -50.0
Bankruptcies 0 0 2 n/a -100.0 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 211 240 302 -12.1 -30.1 2,862 3,673 -22.1
Bankruptcies 165 178 218 -7.3 -24.3 2,141 2,767 -22.6
Proposals 46 62 84 -25.8 -45.2 721 906 -20.4
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Newfoundland and Labrador 0 0 3 n/a -100.0 3 14 -78.6
Bankruptcies 0 0 2 n/a -100.0 3 10 -70.0
Proposals 0 0 1 n/a -100.0 0 4 -100.0
Prince Edward Island 0 0 0 n/a n/a 1 4 -75.0
Bankruptcies 0 0 0 n/a n/a 0 3 -100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 0 2 3 -100.0 -100.0 15 28 -46.4
Bankruptcies 0 2 3 -100.0 -100.0 13 21 -38.1
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 3 0 2 n/a 50.0 12 30 -60.0
Bankruptcies 3 0 1 n/a 200.0 11 24 -54.2
Proposals 0 0 1 n/a -100.0 1 6 -83.3
Quebec 90 113 153 -20.4 -41.2 1,449 1,857 -22.0
Bankruptcies 78 87 112 -10.3 -30.4 1,148 1,459 -21.3
Proposals 12 26 41 -53.8 -70.7 301 398 -24.4
Ontario 34 41 42 -17.1 -19.0 491 485 1.2
Bankruptcies 26 30 29 -13.3 -10.3 372 363 2.5
Proposals 8 11 13 -27.3 -38.5 119 122 -2.5
Manitoba 0 0 0 n/a n/a 16 10 60.0
Bankruptcies 0 0 0 n/a n/a 10 9 11.1
Proposals 0 0 0 n/a n/a 6 1 500.0
Saskatchewan 2 0 1 n/a 100.0 10 8 25.0
Bankruptcies 2 0 1 n/a 100.0 8 5 60.0
Proposals 0 0 0 n/a n/a 2 3 -33.3
Alberta 14 12 9 16.7 55.6 103 118 -12.7
Bankruptcies 13 9 4 44.4 225.0 81 86 -5.8
Proposals 1 3 5 -66.7 -80.0 22 32 -31.3
British Columbia 7 12 5 -41.7 40.0 84 56 50.0
Bankruptcies 5 10 5 -50.0 0.0 54 38 42.1
Proposals 2 2 0 0.0 n/a 30 18 66.7
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 1 -100.0
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 2 n/a -100.0 1 2 -50.0
Bankruptcies 0 0 2 n/a -100.0 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 150 180 220 -16.7 -31.8 2,185 2,613 -16.4
Bankruptcies 127 138 159 -8.0 -20.1 1,701 2,020 -15.8
Proposals 23 42 61 -45.2 -62.3 484 593 -18.4
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Newfoundland and Labrador 2 0 2 n/a 0.0 10 27 -63.0
Bankruptcies 2 0 0 n/a n/a 10 24 -58.3
Proposals 0 0 2 n/a -100.0 0 3 -100.0
Prince Edward Island 0 0 1 n/a -100.0 3 4 -25.0
Bankruptcies 0 0 1 n/a -100.0 3 4 -25.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 0 2 3 -100.0 -100.0 9 27 -66.7
Bankruptcies 0 1 3 -100.0 -100.0 8 26 -69.2
Proposals 0 1 0 -100.0 n/a 1 1 0.0
New Brunswick 0 3 1 -100.0 -100.0 7 16 -56.3
Bankruptcies 0 3 1 -100.0 -100.0 4 11 -63.6
Proposals 0 0 0 n/a n/a 3 5 -40.0
Quebec 25 20 24 25.0 4.2 197 270 -27.0
Bankruptcies 19 13 15 46.2 26.7 127 176 -27.8
Proposals 6 7 9 -14.3 -33.3 70 94 -25.5
Ontario 24 26 31 -7.7 -22.6 272 418 -34.9
Bankruptcies 10 16 24 -37.5 -58.3 156 299 -47.8
Proposals 14 10 7 40.0 100.0 116 119 -2.5
Manitoba 0 2 1 -100.0 -100.0 22 25 -12.0
Bankruptcies 0 2 1 -100.0 -100.0 20 21 -4.8
Proposals 0 0 0 n/a n/a 2 4 -50.0
Saskatchewan 1 0 10 n/a -90.0 41 92 -55.4
Bankruptcies 1 0 6 n/a -83.3 34 55 -38.2
Proposals 0 0 4 n/a -100.0 7 37 -81.1
Alberta 4 4 6 0.0 -33.3 68 110 -38.2
Bankruptcies 2 2 6 0.0 -66.7 50 77 -35.1
Proposals 2 2 0 0.0 n/a 18 33 -45.5
British Columbia 5 3 3 66.7 66.7 48 70 -31.4
Bankruptcies 4 3 2 33.3 100.0 28 53 -47.2
Proposals 1 0 1 n/a 0.0 20 17 17.6
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
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 61 60 82 1.7 -25.6 677 1,060 -36.1
Bankruptcies 38 40 59 -5.0 -35.6 440 747 -41.1
Proposals 23 20 23 15.0 0.0 237 313 -24.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
November 2020 October 2020 November 2019 Oct. 2020
to
Nov. 2020
Nov. 2019
to
Nov. 2020
11-30-2020 11-30-2019 % Change
Agriculture, Forestry, Fishing and Hunting 6 4 6 50.0 0.0 58 69 -15.9
Bankruptcies 4 2 4 100.0 0.0 43 49 -12.2
Proposals 2 2 2 0.0 0.0 15 20 -25.0
Mining and Oil and Gas Extraction 4 11 2 -63.6 100.0 36 46 -21.7
Bankruptcies 3 8 2 -62.5 50.0 25 28 -10.7
Proposals 1 3 0 -66.7 n/a 11 18 -38.9
Utilities 0 1 0 -100.0 n/a 6 7 -14.3
Bankruptcies 0 1 0 -100.0 n/a 5 5 0.0
Proposals 0 0 0 n/a n/a 1 2 -50.0
Construction 27 28 59 -3.6 -54.2 358 698 -48.7
Bankruptcies 23 24 41 -4.2 -43.9 267 519 -48.6
Proposals 4 4 18 0.0 -77.8 91 179 -49.2
Manufacturing 18 15 31 20.0 -41.9 255 325 -21.5
Bankruptcies 12 9 19 33.3 -36.8 178 237 -24.9
Proposals 6 6 12 0.0 -50.0 77 88 -12.5
Wholesale Trade 17 6 18 183.3 -5.6 147 187 -21.4
Bankruptcies 14 5 12 180.0 16.7 114 132 -13.6
Proposals 3 1 6 200.0 -50.0 33 55 -40.0
Retail Trade 26 23 49 13.0 -46.9 392 374 4.8
Bankruptcies 22 14 38 57.1 -42.1 276 292 -5.5
Proposals 4 9 11 -55.6 -63.6 116 82 41.5
Transportation and Warehousing 10 20 16 -50.0 -37.5 172 206 -16.5
Bankruptcies 8 14 13 -42.9 -38.5 132 155 -14.8
Proposals 2 6 3 -66.7 -33.3 40 51 -21.6
Information and Cultural Industries 2 7 8 -71.4 -75.0 49 79 -38.0
Bankruptcies 2 6 7 -66.7 -71.4 37 59 -37.3
Proposals 0 1 1 -100.0 -100.0 12 20 -40.0
Finance and Insurance 4 4 5 0.0 -20.0 34 64 -46.9
Bankruptcies 3 1 5 200.0 -40.0 24 53 -54.7
Proposals 1 3 0 -66.7 n/a 10 11 -9.1
Real Estate and Rental and Leasing 17 13 11 30.8 54.5 139 147 -5.4
Bankruptcies 12 6 4 100.0 200.0 95 112 -15.2
Proposals 5 7 7 -28.6 -28.6 44 35 25.7
Professional, Scientific and Technical Services 21 15 17 40.0 23.5 182 287 -36.6
Bankruptcies 20 15 14 33.3 42.9 138 225 -38.7
Proposals 1 0 3 n/a -66.7 44 62 -29.0
Management of Companies and Enterprises 5 4 5 25.0 0.0 93 89 4.5
Bankruptcies 3 1 5 200.0 -40.0 65 69 -5.8
Proposals 2 3 0 -33.3 n/a 28 20 40.0
Administrative and Support, Waste Management and Remediation Services 7 12 9 -41.7 -22.2 122 168 -27.4
Bankruptcies 5 10 4 -50.0 25.0 88 118 -25.4
Proposals 2 2 5 0.0 -60.0 34 50 -32.0
Educational Services 6 3 2 100.0 200.0 37 34 8.8
Bankruptcies 4 3 1 33.3 300.0 30 24 25.0
Proposals 2 0 1 n/a 100.0 7 10 -30.0
Health Care and Social Assistance 5 13 6 -61.5 -16.7 64 90 -28.9
Bankruptcies 4 11 6 -63.6 -33.3 50 59 -15.3
Proposals 1 2 0 -50.0 n/a 14 31 -54.8
Arts, Entertainment and Recreation 7 10 5 -30.0 40.0 118 75 57.3
Bankruptcies 6 6 5 0.0 20.0 94 61 54.1
Proposals 1 4 0 -75.0 n/a 24 14 71.4
Accommodation and Food Services 25 37 33 -32.4 -24.2 453 516 -12.2
Bankruptcies 17 30 25 -43.3 -32.0 366 409 -10.5
Proposals 8 7 8 14.3 0.0 87 107 -18.7
Other Services (except Public Administration) 4 14 20 -71.4 -80.0 144 211 -31.8
Bankruptcies 3 12 13 -75.0 -76.9 112 160 -30.0
Proposals 1 2 7 -50.0 -85.7 32 51 -37.3
Public Administration 0 0 0 n/a n/a 3 1 200.0
Bankruptcies 0 0 0 n/a n/a 2 1 100.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Total 211 240 302 -12.1 -30.1 2,862 3,673 -22.1
Bankruptcies 165 178 218 -7.3 -24.3 2,141 2,767 -22.6
Proposals 46 62 84 -25.8 -45.2 721 906 -20.4