Insolvency statistics in Canada—Second quarter of 2021

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
- Volume % Change 12-Month Period Ending
Q2 2021 Q1 2021 Q2 2020 Q1 2021 to Q2 2021 Q2 2020 to Q2 2021 06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 517 455 344 13.6 50.3 1,887 2,539 -25.7
Bankruptcies 202 171 170 18.1 18.8 711 1,177 -39.6
Proposals 315 284 174 10.9 81.0 1,176 1,362 -13.7
Prince Edward Island 95 104 91 -8.7 4.4 397 611 -35.0
Bankruptcies 49 43 40 14.0 22.5 175 319 -45.1
Proposals 46 61 51 -24.6 -9.8 222 292 -24.0
Nova Scotia 802 820 682 -2.2 17.6 3,180 5,038 -36.9
Bankruptcies 340 358 311 -5.0 9.3 1,409 2,455 -42.6
Proposals 462 462 371 0.0 24.5 1,771 2,583 -31.4
New Brunswick 839 803 608 4.5 38.0 3,273 4,234 -22.7
Bankruptcies 368 350 280 5.1 31.4 1,484 1,932 -23.2
Proposals 471 453 328 4.0 43.6 1,789 2,302 -22.3
Quebec 6,156 6,799 4,881 -9.5 26.1 25,495 38,272 -33.4
Bankruptcies 2,862 3,002 2,345 -4.7 22.0 11,864 17,796 -33.3
Proposals 3,294 3,797 2,536 -13.2 29.9 13,631 20,476 -33.4
Ontario 7,703 8,148 7,312 -5.5 5.3 31,894 42,227 -24.5
Bankruptcies 2,188 2,015 2,017 8.6 8.5 8,655 12,939 -33.1
Proposals 5,515 6,133 5,295 -10.1 4.2 23,239 29,288 -20.7
Manitoba 645 621 597 3.9 8.0 2,428 3,036 -20.0
Bankruptcies 210 191 181 9.9 16.0 801 1,080 -25.8
Proposals 435 430 416 1.2 4.6 1,627 1,956 -16.8
Saskatchewan 693 752 571 -7.8 21.4 2,702 3,289 -17.8
Bankruptcies 195 229 189 -14.8 3.2 832 1,236 -32.7
Proposals 498 523 382 -4.8 30.4 1,870 2,053 -8.9
Alberta 3,706 3,664 2,763 1.1 34.1 13,511 15,726 -14.1
Bankruptcies 769 801 763 -4.0 0.8 3,283 4,857 -32.4
Proposals 2,937 2,863 2,000 2.6 46.9 10,228 10,869 -5.9
British Columbia 2,316 2,240 1,890 3.4 22.5 8,429 10,398 -18.9
Bankruptcies 612 626 560 -2.2 9.3 2,406 3,671 -34.5
Proposals 1,704 1,614 1,330 5.6 28.1 6,023 6,727 -10.5
Northwest Territories 16 12 9 33.3 77.8 51 60 -15.0
Bankruptcies 3 2 3 50.0 0.0 7 15 -53.3
Proposals 13 10 6 30.0 116.7 44 45 -2.2
Yukon 7 7 16 0.0 -56.3 30 37 -18.9
Bankruptcies 3 3 5 0.0 -40.0 10 15 -33.3
Proposals 4 4 11 0.0 -63.6 20 22 -9.1
Nunavut 2 2 3 0.0 -33.3 14 7 100.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 2 2 3 0.0 -33.3 13 5 160.0
Canada 23,497 24,427 19,767 -3.8 18.9 93,291 125,474 -25.6
Bankruptcies 7,801 7,791 6,864 0.1 13.7 31,638 47,494 -33.4
Proposals 15,696 16,636 12,903 -5.7 21.6 61,653 77,980 -20.9
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
Q2 2021 Q1 2021 Q2 2020 Q1 2021 to Q2 2021 Q2 2020 to Q2 2021 06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 513 453 343 13.2 49.6 1,874 2,516 -25.5
Bankruptcies 198 169 169 17.2 17.2 698 1,160 -39.8
Proposals 315 284 174 10.9 81.0 1,176 1,356 -13.3
Prince Edward Island 95 104 90 -8.7 5.6 397 604 -34.3
Bankruptcies 49 43 40 14.0 22.5 175 314 -44.3
Proposals 46 61 50 -24.6 -8.0 222 290 -23.4
Nova Scotia 800 813 680 -1.6 17.6 3,166 4,998 -36.7
Bankruptcies 339 351 309 -3.4 9.7 1,397 2,421 -42.3
Proposals 461 462 371 -0.2 24.3 1,769 2,577 -31.4
New Brunswick 835 802 603 4.1 38.5 3,252 4,207 -22.7
Bankruptcies 364 350 277 4.0 31.4 1,470 1,913 -23.2
Proposals 471 452 326 4.2 44.5 1,782 2,294 -22.3
Quebec 5,779 6,416 4,559 -9.9 26.8 23,984 36,435 -34.2
Bankruptcies 2,548 2,690 2,092 -5.3 21.8 10,618 16,421 -35.3
Proposals 3,231 3,726 2,467 -13.3 31.0 13,366 20,014 -33.2
Ontario 7,565 8,018 7,133 -5.6 6.1 31,268 41,409 -24.5
Bankruptcies 2,085 1,922 1,883 8.5 10.7 8,202 12,368 -33.7
Proposals 5,480 6,096 5,250 -10.1 4.4 23,066 29,041 -20.6
Manitoba 638 613 585 4.1 9.1 2,399 2,997 -20.0
Bankruptcies 204 185 170 10.3 20.0 776 1,050 -26.1
Proposals 434 428 415 1.4 4.6 1,623 1,947 -16.6
Saskatchewan 681 734 564 -7.2 20.7 2,656 3,197 -16.9
Bankruptcies 188 212 185 -11.3 1.6 795 1,167 -31.9
Proposals 493 522 379 -5.6 30.1 1,861 2,030 -8.3
Alberta 3,660 3,632 2,726 0.8 34.3 13,359 15,523 -13.9
Bankruptcies 741 781 741 -5.1 0.0 3,177 4,712 -32.6
Proposals 2,919 2,851 1,985 2.4 47.1 10,182 10,811 -5.8
British Columbia 2,298 2,218 1,849 3.6 24.3 8,335 10,264 -18.8
Bankruptcies 603 612 539 -1.5 11.9 2,339 3,591 -34.9
Proposals 1,695 1,606 1,310 5.5 29.4 5,996 6,673 -10.1
Northwest Territories 16 12 9 33.3 77.8 51 58 -12.1
Bankruptcies 3 2 3 50.0 0.0 7 14 -50.0
Proposals 13 10 6 30.0 116.7 44 44 0.0
Yukon 7 7 16 0.0 -56.3 30 37 -18.9
Bankruptcies 3 3 5 0.0 -40.0 10 15 -33.3
Proposals 4 4 11 0.0 -63.6 20 22 -9.1
Nunavut 2 2 3 0.0 -33.3 13 5 160.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 2 2 3 0.0 -33.3 13 5 160.0
Canada 22,889 23,824 19,160 -3.9 19.5 90,784 122,250 -25.7
Bankruptcies 7,325 7,320 6,413 0.1 14.2 29,664 45,146 -34.3
Proposals 15,564 16,504 12,747 -5.7 22.1 61,120 77,104 -20.7
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
Q2 2021 Q1 2021 Q2 2020 Q1 2021 to Q2 2021 Q2 2020 to Q2 2021 06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 4 2 1 100.0 300.0 13 23 -43.5
Bankruptcies 4 2 1 100.0 300.0 13 17 -23.5
Proposals 0 0 0 n/a n/a 0 6 -100.0
Prince Edward Island 0 0 1 n/a -100.0 0 7 -100.0
Bankruptcies 0 0 0 n/a n/a 0 5 -100.0
Proposals 0 0 1 n/a -100.0 0 2 -100.0
Nova Scotia 2 7 2 -71.4 0.0 14 40 -65.0
Bankruptcies 1 7 2 -85.7 -50.0 12 34 -64.7
Proposals 1 0 0 n/a n/a 2 6 -66.7
New Brunswick 4 1 5 300.0 -20.0 21 27 -22.2
Bankruptcies 4 0 3 n/a 33.3 14 19 -26.3
Proposals 0 1 2 -100.0 -100.0 7 8 -12.5
Quebec 377 383 322 -1.6 17.1 1,511 1,837 -17.7
Bankruptcies 314 312 253 0.6 24.1 1,246 1,375 -9.4
Proposals 63 71 69 -11.3 -8.7 265 462 -42.6
Ontario 138 130 179 6.2 -22.9 626 818 -23.5
Bankruptcies 103 93 134 10.8 -23.1 453 571 -20.7
Proposals 35 37 45 -5.4 -22.2 173 247 -30.0
Manitoba 7 8 12 -12.5 -41.7 29 39 -25.6
Bankruptcies 6 6 11 0.0 -45.5 25 30 -16.7
Proposals 1 2 1 -50.0 0.0 4 9 -55.6
Saskatchewan 12 18 7 -33.3 71.4 46 92 -50.0
Bankruptcies 7 17 4 -58.8 75.0 37 69 -46.4
Proposals 5 1 3 400.0 66.7 9 23 -60.9
Alberta 46 32 37 43.8 24.3 152 203 -25.1
Bankruptcies 28 20 22 40.0 27.3 106 145 -26.9
Proposals 18 12 15 50.0 20.0 46 58 -20.7
British Columbia 18 22 41 -18.2 -56.1 94 134 -29.9
Bankruptcies 9 14 21 -35.7 -57.1 67 80 -16.3
Proposals 9 8 20 12.5 -55.0 27 54 -50.0
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 0 n/a n/a 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 608 603 607 0.8 0.2 2,507 3,224 -22.2
Bankruptcies 476 471 451 1.1 5.5 1,974 2,348 -15.9
Proposals 132 132 156 0.0 -15.4 533 876 -39.2
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
Q2 2021 Q1 2021 Q2 2020 Q1 2021 to Q2 2021 Q2 2020 to Q2 2021 06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 2 1 1 100.0 100.0 5 10 -50.0
Bankruptcies 2 1 1 100.0 100.0 5 7 -28.6
Proposals 0 0 0 n/a n/a 0 3 -100.0
Prince Edward Island 0 0 1 n/a -100.0 0 3 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 1 n/a -100.0 0 2 -100.0
Nova Scotia 1 4 0 -75.0 n/a 8 22 -63.6
Bankruptcies 0 4 0 -100.0 n/a 7 16 -56.3
Proposals 1 0 0 n/a n/a 1 6 -83.3
New Brunswick 3 1 4 200.0 -25.0 11 21 -47.6
Bankruptcies 3 0 3 n/a 0.0 9 15 -40.0
Proposals 0 1 1 -100.0 -100.0 2 6 -66.7
Quebec 332 332 298 0.0 11.4 1,318 1,617 -18.5
Bankruptcies 283 284 240 -0.4 17.9 1,116 1,242 -10.1
Proposals 49 48 58 2.1 -15.5 202 375 -46.1
Ontario 97 90 130 7.8 -25.4 432 455 -5.1
Bankruptcies 77 72 106 6.9 -27.4 339 340 -0.3
Proposals 20 18 24 11.1 -16.7 93 115 -19.1
Manitoba 4 2 5 100.0 -20.0 9 19 -52.6
Bankruptcies 4 1 5 300.0 -20.0 8 13 -38.5
Proposals 0 1 0 -100.0 n/a 1 6 -83.3
Saskatchewan 6 9 2 -33.3 200.0 22 12 83.3
Bankruptcies 3 9 1 -66.7 200.0 18 9 100.0
Proposals 3 0 1 n/a 200.0 4 3 33.3
Alberta 28 18 22 55.6 27.3 88 126 -30.2
Bankruptcies 18 12 13 50.0 38.5 66 94 -29.8
Proposals 10 6 9 66.7 11.1 22 32 -31.3
British Columbia 8 15 32 -46.7 -75.0 61 70 -12.9
Bankruptcies 3 10 16 -70.0 -81.3 43 42 2.4
Proposals 5 5 16 0.0 -68.8 18 28 -35.7
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 0 n/a n/a 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 481 472 495 1.9 -2.8 1,955 2,358 -17.1
Bankruptcies 393 393 385 0.0 2.1 1,612 1,781 -9.5
Proposals 88 79 110 11.4 -20.0 343 577 -40.6
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
Q2 2021 Q1 2021 Q2 2020 Q1 2021 to Q2 2021 Q2 2020 to Q2 2021 06-30-2021 06-30-2020 % Change
Newfoundland and Labrador 2 1 0 100.0 n/a 8 13 -38.5
Bankruptcies 2 1 0 100.0 n/a 8 10 -20.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
Prince Edward Island 0 0 0 n/a n/a 0 4 -100.0
Bankruptcies 0 0 0 n/a n/a 0 4 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 1 3 2 -66.7 -50.0 6 18 -66.7
Bankruptcies 1 3 2 -66.7 -50.0 5 18 -72.2
Proposals 0 0 0 n/a n/a 1 0 n/a
New Brunswick 1 0 1 n/a 0.0 10 6 66.7
Bankruptcies 1 0 0 n/a n/a 5 4 25.0
Proposals 0 0 1 n/a -100.0 5 2 150.0
Quebec 45 51 24 -11.8 87.5 193 220 -12.3
Bankruptcies 31 28 13 10.7 138.5 130 133 -2.3
Proposals 14 23 11 -39.1 27.3 63 87 -27.6
Ontario 41 40 49 2.5 -16.3 194 363 -46.6
Bankruptcies 26 21 28 23.8 -7.1 114 231 -50.6
Proposals 15 19 21 -21.1 -28.6 80 132 -39.4
Manitoba 3 6 7 -50.0 -57.1 20 20 0.0
Bankruptcies 2 5 6 -60.0 -66.7 17 17 0.0
Proposals 1 1 1 0.0 0.0 3 3 0.0
Saskatchewan 6 9 5 -33.3 20.0 24 80 -70.0
Bankruptcies 4 8 3 -50.0 33.3 19 60 -68.3
Proposals 2 1 2 100.0 0.0 5 20 -75.0
Alberta 18 14 15 28.6 20.0 64 77 -16.9
Bankruptcies 10 8 9 25.0 11.1 40 51 -21.6
Proposals 8 6 6 33.3 33.3 24 26 -7.7
British Columbia 10 7 9 42.9 11.1 33 64 -48.4
Bankruptcies 6 4 5 50.0 20.0 24 38 -36.8
Proposals 4 3 4 33.3 0.0 9 26 -65.4
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 127 131 112 -3.1 13.4 552 866 -36.3
Bankruptcies 83 78 66 6.4 25.8 362 567 -36.2
Proposals 44 53 46 -17.0 -4.3 190 299 -36.5