Insolvency Statistics in Canada—October 2018

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Insolvency Statistics in Canada
October 2018

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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.

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
Province Volume % Change 12-Month Period Ending
October
2018		 September
2018		 October
2017		 Sept. 2018
to
Oct. 2018		 Oct. 2017
to
Oct. 2018		 10-31-2018 10-31-2017 % Change
Newfoundland and Labrador 241 222 255 8.6 -5.5 2,763 2,517 9.8
Bankruptcies 111 124 127 -10.5 -12.6 1,393 1,420 -1.9
Proposals 130 98 128 32.7 1.6 1,370 1,097 24.9
Prince Edward Island 64 44 53 45.5 20.8 726 691 5.1
Bankruptcies 34 26 28 30.8 21.4 422 412 2.4
Proposals 30 18 25 66.7 20.0 304 279 9.0
Nova Scotia 516 443 500 16.5 3.2 5,597 5,901 -5.2
Bankruptcies 312 296 309 5.4 1.0 3,520 3,979 -11.5
Proposals 204 147 191 38.8 6.8 2,077 1,922 8.1
New Brunswick 411 387 373 6.2 10.2 4,474 4,429 1.0
Bankruptcies 204 201 195 1.5 4.6 2,286 2,588 -11.7
Proposals 207 186 178 11.3 16.3 2,188 1,841 18.8
Quebec 4,198 3,600 3,852 16.6 9.0 44,090 43,740 0.8
Bankruptcies 2,207 1,878 2,123 17.5 4.0 23,075 24,515 -5.9
Proposals 1,991 1,722 1,729 15.6 15.2 21,015 19,225 9.3
Ontario 3,570 3,083 3,349 15.8 6.6 39,265 39,270 0.0
Bankruptcies 1,357 1,220 1,394 11.2 -2.7 15,428 16,223 -4.9
Proposals 2,213 1,863 1,955 18.8 13.2 23,837 23,047 3.4
Manitoba 307 234 290 31.2 5.9 2,788 2,634 5.8
Bankruptcies 154 113 155 36.3 -0.6 1,410 1,396 1.0
Proposals 153 121 135 26.4 13.3 1,378 1,238 11.3
Saskatchewan 346 296 306 16.9 13.1 3,455 3,275 5.5
Bankruptcies 125 120 143 4.2 -12.6 1,358 1,489 -8.8
Proposals 221 176 163 25.6 35.6 2,097 1,786 17.4
Alberta 1,363 1,135 1,216 20.1 12.1 14,394 13,525 6.4
Bankruptcies 460 352 461 30.7 -0.2 5,045 5,250 -3.9
Proposals 903 783 755 15.3 19.6 9,349 8,275 13.0
British Columbia 940 841 778 11.8 20.8 10,254 10,105 1.5
Bankruptcies 358 351 298 2.0 20.1 4,199 4,313 -2.6
Proposals 582 490 480 18.8 21.3 6,055 5,792 4.5
Northwest Territories 2 7 9 -71.4 -77.8 90 72 25.0
Bankruptcies 0 6 8 -100.0 -100.0 47 48 -2.1
Proposals 2 1 1 100.0 100.0 43 24 79.2
Yukon 2 1 3 100.0 -33.3 35 32 9.4
Bankruptcies 1 0 3 n/a -66.7 11 18 -38.9
Proposals 1 1 0 0.0 n/a 24 14 71.4
Nunavut 0 1 1 -100.0 -100.0 6 1 500.0
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 1 1 -100.0 -100.0 4 1 300.0
Canada 11,960 10,294 10,985 16.2 8.9 127,937 126,192 1.4
Bankruptcies 5,323 4,687 5,244 13.6 1.5 58,196 61,651 -5.6
Proposals 6,637 5,607 5,741 18.4 15.6 69,741 64,541 8.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
October
2018		 September
2018		 October
2017		 Sept. 2018
to
Oct. 2018		 Oct. 2017
to
Oct. 2018		 10-31-2018 10-31-2017 % Change
Newfoundland and Labrador 239 217 252 10.1 -5.2 2,740 2,479 10.5
Bankruptcies 109 119 127 -8.4 -14.2 1,373 1,394 -1.5
Proposals 130 98 125 32.7 4.0 1,367 1,085 26.0
Prince Edward Island 64 43 53 48.8 20.8 722 678 6.5
Bankruptcies 34 25 28 36.0 21.4 419 402 4.2
Proposals 30 18 25 66.7 20.0 303 276 9.8
Nova Scotia 514 438 496 17.4 3.6 5,550 5,847 -5.1
Bankruptcies 310 293 306 5.8 1.3 3,487 3,932 -11.3
Proposals 204 145 190 40.7 7.4 2,063 1,915 7.7
New Brunswick 406 382 367 6.3 10.6 4,427 4,378 1.1
Bankruptcies 200 198 190 1.0 5.3 2,251 2,544 -11.5
Proposals 206 184 177 12.0 16.4 2,176 1,834 18.6
Quebec 4,022 3,426 3,664 17.4 9.8 42,025 41,658 0.9
Bankruptcies 2,071 1,753 1,978 18.1 4.7 21,528 22,930 -6.1
Proposals 1,951 1,673 1,686 16.6 15.7 20,497 18,728 9.4
Ontario 3,481 3,012 3,264 15.6 6.6 38,348 38,399 -0.1
Bankruptcies 1,292 1,166 1,327 10.8 -2.6 14,759 15,585 -5.3
Proposals 2,189 1,846 1,937 18.6 13.0 23,589 22,814 3.4
Manitoba 305 230 289 32.6 5.5 2,754 2,591 6.3
Bankruptcies 152 109 154 39.4 -1.3 1,380 1,364 1.2
Proposals 153 121 135 26.4 13.3 1,374 1,227 12.0
Saskatchewan 335 287 289 16.7 15.9 3,347 3,145 6.4
Bankruptcies 116 113 129 2.7 -10.1 1,286 1,392 -7.6
Proposals 219 174 160 25.9 36.9 2,061 1,753 17.6
Alberta 1,346 1,124 1,199 19.8 12.3 14,192 13,326 6.5
Bankruptcies 447 348 450 28.4 -0.7 4,896 5,121 -4.4
Proposals 899 776 749 15.9 20.0 9,296 8,205 13.3
British Columbia 925 837 773 10.5 19.7 10,137 9,952 1.9
Bankruptcies 351 347 294 1.2 19.4 4,118 4,184 -1.6
Proposals 574 490 479 17.1 19.8 6,019 5,768 4.4
Northwest Territories 2 7 9 -71.4 -77.8 90 71 26.8
Bankruptcies 0 6 8 -100.0 -100.0 47 47 0.0
Proposals 2 1 1 100.0 100.0 43 24 79.2
Yukon 2 1 3 100.0 -33.3 35 32 9.4
Bankruptcies 1 0 3 n/a -66.7 11 18 -38.9
Proposals 1 1 0 0.0 n/a 24 14 71.4
Nunavut 0 1 1 -100.0 -100.0 6 1 500.0
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 1 1 -100.0 -100.0 4 1 300.0
Canada 11,641 10,005 10,659 16.4 9.2 124,373 122,557 1.5
Bankruptcies 5,083 4,477 4,994 13.5 1.8 55,557 58,913 -5.7
Proposals 6,558 5,528 5,665 18.6 15.8 68,816 63,644 8.1
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
October
2018		 September
2018		 October
2017		 Sept. 2018
to
Oct. 2018		 Oct. 2017
to
Oct. 2018		 10-31-2018 10-31-2017 % Change
Newfoundland and Labrador 2 5 3 -60.0 -33.3 23 38 -39.5
Bankruptcies 2 5 0 -60.0 n/a 20 26 -23.1
Proposals 0 0 3 n/a -100.0 3 12 -75.0
Prince Edward Island 0 1 0 -100.0 n/a 4 13 -69.2
Bankruptcies 0 1 0 -100.0 n/a 3 10 -70.0
Proposals 0 0 0 n/a n/a 1 3 -66.7
Nova Scotia 2 5 4 -60.0 -50.0 47 54 -13.0
Bankruptcies 2 3 3 -33.3 -33.3 33 47 -29.8
Proposals 0 2 1 -100.0 -100.0 14 7 100.0
New Brunswick 5 5 6 0.0 -16.7 47 51 -7.8
Bankruptcies 4 3 5 33.3 -20.0 35 44 -20.5
Proposals 1 2 1 -50.0 0.0 12 7 71.4
Quebec 176 174 188 1.1 -6.4 2,065 2,082 -0.8
Bankruptcies 136 125 145 8.8 -6.2 1,547 1,585 -2.4
Proposals 40 49 43 -18.4 -7.0 518 497 4.2
Ontario 89 71 85 25.4 4.7 917 871 5.3
Bankruptcies 65 54 67 20.4 -3.0 669 638 4.9
Proposals 24 17 18 41.2 33.3 248 233 6.4
Manitoba 2 4 1 -50.0 100.0 34 43 -20.9
Bankruptcies 2 4 1 -50.0 100.0 30 32 -6.3
Proposals 0 0 0 n/a n/a 4 11 -63.6
Saskatchewan 11 9 17 22.2 -35.3 108 130 -16.9
Bankruptcies 9 7 14 28.6 -35.7 72 97 -25.8
Proposals 2 2 3 0.0 -33.3 36 33 9.1
Alberta 17 11 17 54.5 0.0 202 199 1.5
Bankruptcies 13 4 11 225.0 18.2 149 129 15.5
Proposals 4 7 6 -42.9 -33.3 53 70 -24.3
British Columbia 15 4 5 275.0 200.0 117 153 -23.5
Bankruptcies 7 4 4 75.0 75.0 81 129 -37.2
Proposals 8 0 1 n/a 700.0 36 24 50.0
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 319 289 326 10.4 -2.1 3,564 3,635 -2.0
Bankruptcies 240 210 250 14.3 -4.0 2,639 2,738 -3.6
Proposals 79 79 76 0.0 3.9 925 897 3.1
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
October
2018		 September
2018		 October
2017		 Sept. 2018
to
Oct. 2018		 Oct. 2017
to
Oct. 2018		 10-31-2018 10-31-2017 % Change
Agriculture, Forestry, Fishing and Hunting 4 7 1 -42.9 300.0 71 75 -5.3
Bankruptcies 2 4 1 -50.0 100.0 47 57 -17.5
Proposals 2 3 0 -33.3 n/a 24 18 33.3
Mining and Oil and Gas Extraction 2 0 4 n/a -50.0 27 56 -51.8
Bankruptcies 0 0 3 n/a -100.0 15 39 -61.5
Proposals 2 0 1 n/a 100.0 12 17 -29.4
Utilities 0 1 1 -100.0 -100.0 7 9 -22.2
Bankruptcies 0 0 1 n/a -100.0 5 7 -28.6
Proposals 0 1 0 -100.0 n/a 2 2 0.0
Construction 65 62 70 4.8 -7.1 711 668 6.4
Bankruptcies 49 45 50 8.9 -2.0 509 487 4.5
Proposals 16 17 20 -5.9 -20.0 202 181 11.6
Manufacturing 23 29 31 -20.7 -25.8 307 324 -5.2
Bankruptcies 16 20 26 -20.0 -38.5 207 233 -11.2
Proposals 7 9 5 -22.2 40.0 100 91 9.9
Wholesale Trade 6 15 9 -60.0 -33.3 160 169 -5.3
Bankruptcies 6 8 6 -25.0 0.0 121 123 -1.6
Proposals 0 7 3 -100.0 -100.0 39 46 -15.2
Retail Trade 46 35 37 31.4 24.3 408 408 0.0
Bankruptcies 37 27 27 37.0 37.0 331 305 8.5
Proposals 9 8 10 12.5 -10.0 77 103 -25.2
Transportation and Warehousing 23 21 17 9.5 35.3 230 238 -3.4
Bankruptcies 19 16 13 18.8 46.2 176 185 -4.9
Proposals 4 5 4 -20.0 0.0 54 53 1.9
Information and Cultural Industries 9 4 4 125.0 125.0 62 72 -13.9
Bankruptcies 6 4 1 50.0 500.0 51 48 6.3
Proposals 3 0 3 n/a 0.0 11 24 -54.2
Finance and Insurance 8 3 9 166.7 -11.1 57 65 -12.3
Bankruptcies 6 3 7 100.0 -14.3 41 54 -24.1
Proposals 2 0 2 n/a 0.0 16 11 45.5
Real Estate and Rental and Leasing 17 12 7 41.7 142.9 146 141 3.5
Bankruptcies 9 6 6 50.0 50.0 106 100 6.0
Proposals 8 6 1 33.3 700.0 40 41 -2.4
Professional, Scientific and Technical Services 21 12 22 75.0 -4.5 247 271 -8.9
Bankruptcies 19 9 18 111.1 5.6 186 216 -13.9
Proposals 2 3 4 -33.3 -50.0 61 55 10.9
Management of Companies and Enterprises 8 5 7 60.0 14.3 85 75 13.3
Bankruptcies 7 4 4 75.0 75.0 69 58 19.0
Proposals 1 1 3 0.0 -66.7 16 17 -5.9
Administrative and Support, Waste Management and Remediation Services 17 15 10 13.3 70.0 158 164 -3.7
Bankruptcies 10 10 7 0.0 42.9 111 121 -8.3
Proposals 7 5 3 40.0 133.3 47 43 9.3
Educational Services 2 0 4 n/a -50.0 26 39 -33.3
Bankruptcies 2 0 3 n/a -33.3 20 32 -37.5
Proposals 0 0 1 n/a -100.0 6 7 -14.3
Health Care and Social Assistance 6 6 7 0.0 -14.3 80 75 6.7
Bankruptcies 2 6 7 -66.7 -71.4 53 61 -13.1
Proposals 4 0 0 n/a n/a 27 14 92.9
Arts, Entertainment and Recreation 3 8 9 -62.5 -66.7 76 73 4.1
Bankruptcies 3 6 7 -50.0 -57.1 61 53 15.1
Proposals 0 2 2 -100.0 -100.0 15 20 -25.0
Accommodation and Food Services 37 37 58 0.0 -36.2 522 532 -1.9
Bankruptcies 31 30 46 3.3 -32.6 387 410 -5.6
Proposals 6 7 12 -14.3 -50.0 135 122 10.7
Other Services (except Public Administration) 22 17 19 29.4 15.8 181 176 2.8
Bankruptcies 16 12 17 33.3 -5.9 141 145 -2.8
Proposals 6 5 2 20.0 200.0 40 31 29.0
Public Administration 0 0 0 n/a n/a 3 5 -40.0
Bankruptcies 0 0 0 n/a n/a 2 4 -50.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 319 289 326 10.4 -2.1 3,564 3,635 -2.0
Bankruptcies 240 210 250 14.3 -4.0 2,639 2,738 -3.6
Proposals 79 79 76 0.0 3.9 925 897 3.1
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