Insolvency statistics in Canada—Fourth quarter of 2019

Tables

Glossary

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.

Census Metropolitan Area (CMA): Each area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000. For Statistics Canada's geographical definitions of the CMAs, go to CMA and CA: Detailed definition.

Consumer: An individual with more than 50% of total liabilities related to consumer goods and services.

Corporation: A commercial entity or organization.

Economic Region (ER): Standard geographical units created for analysis of regional economic activity. For Statistics Canada's geographical definitions of ERs, go to Economic region (ER).

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.

Table 1: Total Insolvencies
provinceVolume% Change12-Month Period Ending
Q4 2019Q3 2019Q4 2018Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-201912-31-2018% Change
Newfoundland and Labrador768803707-4.48.63,2622,82615.4
Bankruptcies360377343-4.55.01,5011,3967.5
Proposals408426364-4.212.11,7611,43023.1
Prince Edward Island20717418919.09.57597353.3
Bankruptcies1069210315.22.9395429-7.9
Proposals101828623.217.436430619.0
Nova Scotia1,5641,5151,3933.212.36,0995,6428.1
Bankruptcies760791852-3.9-10.83,2443,516-7.7
Proposals80472454111.048.62,8552,12634.3
New Brunswick1,2071,2691,185-4.91.94,8964,5178.4
Bankruptcies573623599-8.0-4.32,3772,2943.6
Proposals634646586-1.98.22,5192,22313.3
Quebec11,38411,14610,9482.14.044,99143,8312.6
Bankruptcies5,4235,4015,6500.4-4.021,65822,767-4.9
Proposals5,9615,7455,2983.812.523,33321,06410.8
Ontario11,79311,72610,2290.615.345,75439,79315.0
Bankruptcies3,7503,8923,764-3.6-0.415,22915,348-0.8
Proposals8,0437,8346,4652.724.430,52524,44524.9
Manitoba8467907947.16.53,1852,85211.7
Bankruptcies310355382-12.7-18.81,3771,390-0.9
Proposals53643541223.230.11,8081,46223.7
Saskatchewan1,00884990118.711.93,5573,4981.7
Bankruptcies42530134641.222.81,3811,3393.1
Proposals5835485556.45.02,1762,1590.8
Alberta4,3434,2753,8481.612.916,89814,76114.5
Bankruptcies1,4071,4391,279-2.210.05,7445,08712.9
Proposals2,9362,8362,5693.514.311,1549,67415.3
British Columbia2,9112,9622,629-1.710.711,34810,27510.4
Bankruptcies1,0551,095966-3.79.24,2244,1471.9
Proposals1,8561,8671,663-0.611.67,1246,12816.3
Northwest Territories162011-20.045.56878-12.8
Bankruptcies258-60.0-75.01042-76.2
Proposals14153-6.7366.7583661.1
Yukon1161283.3-8.33335-5.7
Bankruptcies53566.70.013130.0
Proposals637100.0-14.32022-9.1
Nunavut400n/an/a83166.7
Bankruptcies200n/an/a20n/a
Proposals200n/an/a63100.0
Canada36,06235,53532,8461.59.8140,858128,8469.3
Bankruptcies14,17814,37414,297-1.4-0.857,15557,768-1.1
Proposals21,88421,16118,5493.418.083,70371,07817.8
Table 2: Insolvencies Filed by Consumers
provinceVolume% Change12-Month Period Ending
Q4 2019Q3 2019Q4 2018Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-201912-31-2018% Change
Newfoundland and Labrador758793697-4.48.83,2212,80215.0
Bankruptcies355368336-3.55.71,4661,3766.5
Proposals403425361-5.211.61,7551,42623.1
Prince Edward Island20417218918.67.97497312.5
Bankruptcies1039110313.20.0386426-9.4
Proposals101818624.717.436330519.0
Nova Scotia1,5501,5031,3853.111.96,0405,5958.0
Bankruptcies746783845-4.7-11.73,1933,483-8.3
Proposals80472054011.748.92,8472,11234.8
New Brunswick1,2021,2551,176-4.22.24,8514,4808.3
Bankruptcies569614592-7.3-3.92,3432,2623.6
Proposals633641584-1.28.42,5082,21813.1
Quebec10,84010,70110,3991.34.242,86541,7362.7
Bankruptcies5,0265,0615,226-0.7-3.820,03821,188-5.4
Proposals5,8145,6405,1733.112.422,82720,54811.1
Ontario11,58811,5149,9760.616.244,85238,85615.4
Bankruptcies3,6123,7383,587-3.40.714,57714,660-0.6
Proposals7,9767,7766,3892.624.830,27524,19625.1
Manitoba8377817897.26.13,1462,82411.4
Bankruptcies303347377-12.7-19.61,3441,364-1.5
Proposals53443441223.029.61,8021,46023.4
Saskatchewan97382587317.911.53,4533,3991.6
Bankruptcies39928532840.021.61,3171,2802.9
Proposals5745405456.35.32,1362,1190.8
Alberta4,2864,2153,7921.713.016,67514,55514.6
Bankruptcies1,3691,3961,229-1.911.45,5894,92513.5
Proposals2,9172,8192,5633.513.811,0869,63015.1
British Columbia2,8882,9252,601-1.311.011,22110,17210.3
Bankruptcies1,0391,067949-2.69.54,1344,0721.5
Proposals1,8491,8581,652-0.511.97,0876,10016.2
Northwest Territories161811-11.145.56678-15.4
Bankruptcies248-50.0-75.0942-78.6
Proposals141430.0366.7573658.3
Yukon1161283.3-8.33335-5.7
Bankruptcies53566.70.013130.0
Proposals637100.0-14.32022-9.1
Nunavut200n/an/a63100.0
Bankruptcies000n/an/a00n/a
Proposals200n/an/a63100.0
Canada35,15534,70831,9001.310.2137,178125,2669.5
Bankruptcies13,52813,75713,585-1.7-0.454,40955,091-1.2
Proposals21,62720,95118,3153.218.182,76970,17517.9
Table 3: Insolvencies Filed by Businesses
provinceVolume% Change12-Month Period Ending
Q4 2019Q3 2019Q4 2018Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-201912-31-2018% Change
Newfoundland and Labrador1010100.00.0412470.8
Bankruptcies597-44.4-28.6352075.0
Proposals513400.066.76450.0
Prince Edward Island32050.0n/a104150.0
Bankruptcies310200.0n/a93200.0
Proposals010-100.0n/a110.0
Nova Scotia1412816.775.0594725.5
Bankruptcies148775.0100.0513354.5
Proposals041-100.0-100.0814-42.9
New Brunswick5149-64.3-44.4453721.6
Bankruptcies497-55.6-42.934326.3
Proposals152-80.0-50.0115120.0
Quebec54444554922.2-0.92,1262,0951.5
Bankruptcies39734042416.8-6.41,6201,5792.6
Proposals14710512540.017.6506516-1.9
Ontario205212253-3.3-19.0902937-3.7
Bankruptcies138154177-10.4-22.0652688-5.2
Proposals67587615.5-11.82502490.4
Manitoba9950.080.0392839.3
Bankruptcies785-12.540.0332626.9
Proposals210100.0n/a62200.0
Saskatchewan35242845.825.0104995.1
Bankruptcies26161862.544.464598.5
Proposals981012.5-10.040400.0
Alberta576056-5.01.82232068.3
Bankruptcies384350-11.6-24.0155162-4.3
Proposals1917611.8216.7684454.5
British Columbia233728-37.8-17.912710323.3
Bankruptcies162817-42.9-5.9907520.0
Proposals7911-22.2-36.4372832.1
Northwest Territories020-100.0n/a20n/a
Bankruptcies010-100.0n/a10n/a
Proposals010-100.0n/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut200n/an/a20n/a
Bankruptcies200n/an/a20n/a
Proposals000n/an/a00n/a
Canada9078279469.7-4.13,6803,5802.8
Bankruptcies6506177125.3-8.72,7462,6772.6
Proposals25721023422.49.89349033.4
Table 3a: Insolvencies Filed by Corporations
provinceVolume% Change12-Month Period Ending
Q4 2019Q3 2019Q4 2018Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-201912-31-2018% Change
Newfoundland and Labrador455-20.00.0131118.2
Bankruptcies242-50.0100.010742.9
Proposals213100.0-66.734-25.0
Prince Edward Island020-100.0n/a41300.0
Bankruptcies010-100.0n/a31200.0
Proposals010-100.0n/a10n/a
Nova Scotia86433.350.0312429.2
Bankruptcies824300.0-50.0241833.3
Proposals040-100.0n/a7616.7
New Brunswick3116-72.783.3292045.0
Bankruptcies275-71.440.0231827.8
Proposals141-75.0300.062200.0
Quebec46439346618.1-15.71,8621,8311.7
Bankruptcies35130236716.2-17.71,4531,4013.7
Proposals113919924.2-8.1409430-4.9
Ontario1081021545.9-33.8488523-6.7
Bankruptcies7475109-1.3-31.2362397-8.8
Proposals34274525.9-40.01261260.0
Manitoba351-40.0400.0136116.7
Bankruptcies251-60.0400.0115120.0
Proposals100n/an/a21100.0
Saskatchewan241-50.0300.0880.0
Bankruptcies2210.0100.05425.0
Proposals020-100.0n/a34-25.0
Alberta353724-5.454.21179918.2
Bankruptcies233122-25.840.983777.8
Proposals1262100.0200.0342254.5
British Columbia71614-56.314.3543745.9
Bankruptcies6127-50.071.4362450.0
Proposals147-75.0-42.9181338.5
Northwest Territories010-100.0n/a10n/a
Bankruptcies000n/an/a00n/a
Proposals010-100.0n/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut200n/an/a20n/a
Bankruptcies200n/an/a20n/a
Proposals000n/an/a00n/a
Canada6365826759.3-13.82,6222,5602.4
Bankruptcies4724415187.0-14.92,0121,9523.1
Proposals16414115716.3-10.26106080.3
Table 3b: Insolvencies Filed by Individual Businesses
provinceVolume% Change12-Month Period Ending
Q4 2019Q3 2019Q4 2018Q3 2019
to
Q4 2019
Q4 2018
to
Q4 2019
12-31-201912-31-2018% Change
Newfoundland and Labrador65520.00.02813115.4
Bankruptcies355-40.00.0251392.3
Proposals300n/an/a30n/a
Prince Edward Island300n/an/a63100.0
Bankruptcies300n/an/a62200.0
Proposals000n/an/a01-100.0
Nova Scotia6640.050.0282321.7
Bankruptcies6630.0100.0271580.0
Proposals001n/a-100.018-87.5
New Brunswick233-33.30.01617-5.9
Bankruptcies2220.00.01114-21.4
Proposals011-100.00.05366.7
Quebec80528353.8-37.32642640.0
Bankruptcies46385721.1-33.3167178-6.2
Proposals341426142.9-46.2978612.8
Ontario9711099-11.811.14144140.0
Bankruptcies647968-19.016.2290291-0.3
Proposals3331316.50.01241230.8
Manitoba64450.00.0262218.2
Bankruptcies53466.7-25.022214.8
Proposals1100.0n/a41300.0
Saskatchewan33202765.0-25.996915.5
Bankruptcies24141771.4-17.659557.3
Proposals961050.0-40.037362.8
Alberta222332-4.3-28.1106107-0.9
Bankruptcies15122825.0-57.17285-15.3
Proposals7114-36.4175.0342254.5
British Columbia162114-23.850.0736610.6
Bankruptcies101610-37.560.054515.9
Proposals65420.025.0191526.7
Northwest Territories010-100.0n/a10n/a
Bankruptcies010-100.0n/a10n/a
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
Canada27124527110.6-9.61,0581,0203.7
Bankruptcies1781761941.1-9.37347251.2
Proposals93697734.8-10.43242959.8