Insolvency Statistics in Canada—Third Quarter of 2020

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% Change12-Month Period Ending
Q3 2020Q2 2020Q3 2019Q2 2020 to Q3 2020Q3 2019 to Q3 202009-30-202009-30-2019% Change
Newfoundland and Labrador44334480328.8-44.82,1793,201-31.9
Bankruptcies1811703776.5-52.09811,484-33.9
Proposals26217442650.6-38.51,1981,717-30.2
Prince Edward Island95911744.4-45.4532741-28.2
Bankruptcies394092-2.5-57.6266392-32.1
Proposals5651829.8-31.7266349-23.8
Nova Scotia7516821,51510.1-50.44,2745,928-27.9
Bankruptcies34931179112.2-55.92,0133,336-39.7
Proposals4023717248.4-44.52,2612,592-12.8
New Brunswick7666081,26926.0-39.63,7314,874-23.5
Bankruptcies35128062325.4-43.71,6602,403-30.9
Proposals41532864626.5-35.82,0712,471-16.2
Quebec5,9104,88111,14621.1-47.033,03644,555-25.9
Bankruptcies2,8552,3455,40121.7-47.115,25021,885-30.3
Proposals3,0552,5365,74520.5-46.817,78622,670-21.5
Ontario7,6347,31211,7264.4-34.938,13544,190-13.7
Bankruptcies2,1092,0173,8924.6-45.811,15615,243-26.8
Proposals5,5255,2957,8344.3-29.526,97928,947-6.8
Manitoba567597790-5.0-28.22,8133,133-10.2
Bankruptcies20918135515.5-41.19341,449-35.5
Proposals358416435-13.9-17.71,8791,68411.6
Saskatchewan560571849-1.9-34.03,0003,450-13.0
Bankruptcies173189301-8.5-42.51,1081,302-14.9
Proposals3873825481.3-29.41,8922,148-11.9
Alberta2,8122,7634,2751.8-34.214,26316,403-13.0
Bankruptcies8237631,4397.9-42.84,2415,616-24.5
Proposals1,9892,0002,836-0.6-29.910,02210,787-7.1
British Columbia1,7741,8902,962-6.1-40.19,21011,066-16.8
Bankruptcies5755601,0952.7-47.53,1514,135-23.8
Proposals1,1991,3301,867-9.8-35.86,0596,931-12.6
Northwest Territories1592066.7-25.05563-12.7
Bankruptcies235-33.3-60.01216-25.0
Proposals13615116.7-13.34347-8.5
Yukon4166-75.0-33.335342.9
Bankruptcies053-100.0-100.01213-7.7
Proposals4113-63.633.323219.5
Nunavut43033.3n/a114175.0
Bankruptcies100n/an/a30n/a
Proposals3300.0n/a84100.0
Canada21,33519,76735,5357.9-40.0111,274137,642-19.2
Bankruptcies7,6676,86414,37411.7-46.740,78757,274-28.8
Proposals13,66812,90321,1615.9-35.470,48780,368-12.3
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
Q3 2020Q2 2020Q3 2019Q2 2020 to Q3 2020Q3 2019 to Q3 202009-30-202009-30-2019% Change
Newfoundland and Labrador43834379327.7-44.82,1613,160-31.6
Bankruptcies1761693684.1-52.29681,447-33.1
Proposals26217442550.6-38.41,1931,713-30.4
Prince Edward Island95901725.6-44.8527734-28.2
Bankruptcies394091-2.5-57.1262386-32.1
Proposals56508112.0-30.9265348-23.9
Nova Scotia7506801,50310.3-50.14,2455,875-27.7
Bankruptcies34830978312.6-55.61,9863,292-39.7
Proposals4023717208.4-44.22,2592,583-12.5
New Brunswick7616031,25526.2-39.43,7134,825-23.0
Bankruptcies34827761425.6-43.31,6472,366-30.4
Proposals41332664126.7-35.62,0662,459-16.0
Quebec5,5424,55910,70121.6-48.231,27642,424-26.3
Bankruptcies2,5532,0925,06122.0-49.613,91320,238-31.3
Proposals2,9892,4675,64021.2-47.017,36322,186-21.7
Ontario7,4617,13311,5144.6-35.237,35643,240-13.6
Bankruptcies1,9801,8833,7385.2-47.010,61014,552-27.1
Proposals5,4815,2507,7764.4-29.526,74628,688-6.8
Manitoba557585781-4.8-28.72,7733,098-10.5
Bankruptcies20017034717.6-42.49031,418-36.3
Proposals357415434-14.0-17.71,8701,68011.3
Saskatchewan552564825-2.1-33.12,9243,353-12.8
Bankruptcies168185285-9.2-41.11,0501,246-15.7
Proposals3843795401.3-28.91,8742,107-11.1
Alberta2,7792,7264,2151.9-34.114,08716,181-12.9
Bankruptcies7957411,3967.3-43.14,1115,449-24.6
Proposals1,9841,9852,819-0.1-29.69,97610,732-7.0
British Columbia1,7501,8492,925-5.4-40.29,08910,934-16.9
Bankruptcies5555391,0673.0-48.03,0794,044-23.9
Proposals1,1951,3101,858-8.8-35.76,0106,890-12.8
Northwest Territories1591866.7-16.75561-9.8
Bankruptcies234-33.3-50.01215-20.0
Proposals13614116.7-7.14346-6.5
Yukon4166-75.0-33.335342.9
Bankruptcies053-100.0-100.01213-7.7
Proposals4113-63.633.323219.5
Nunavut3300.0n/a84100.0
Bankruptcies000n/an/a00n/a
Proposals3300.0n/a84100.0
Canada20,70719,16034,7088.1-40.3108,249133,923-19.2
Bankruptcies7,1646,41313,75711.7-47.938,55354,466-29.2
Proposals13,54312,74720,9516.2-35.469,69679,457-12.3
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
Q3 2020Q2 2020Q3 2019Q2 2020 to Q3 2020Q3 2019 to Q3 202009-30-202009-30-2019% Change
Newfoundland and Labrador5110400.0-50.01841-56.1
Bankruptcies519400.0-44.41337-64.9
Proposals001n/a-100.05425.0
Prince Edward Island012-100.0-100.057-28.6
Bankruptcies001n/a-100.046-33.3
Proposals011-100.0-100.0110.0
Nova Scotia1212-50.0-91.72953-45.3
Bankruptcies128-50.0-87.52744-38.6
Proposals004n/a-100.029-77.8
New Brunswick55140.0-64.31849-63.3
Bankruptcies3390.0-66.71337-64.9
Proposals2250.0-60.0512-58.3
Quebec36832244514.3-17.31,7602,131-17.4
Bankruptcies30225334019.4-11.21,3371,647-18.8
Proposals6669105-4.3-37.1423484-12.6
Ontario173179212-3.4-18.4779950-18.0
Bankruptcies129134154-3.7-16.2546691-21.0
Proposals444558-2.2-24.1233259-10.0
Manitoba10129-16.711.1403514.3
Bankruptcies9118-18.212.531310.0
Proposals1110.00.094125.0
Saskatchewan872414.3-66.77697-21.6
Bankruptcies541625.0-68.858563.6
Proposals3380.0-62.51841-56.1
Alberta333760-10.8-45.0176222-20.7
Bankruptcies28224327.3-34.9130167-22.2
Proposals51517-66.7-70.64655-16.4
British Columbia244137-41.5-35.1121132-8.3
Bankruptcies202128-4.8-28.67291-20.9
Proposals4209-80.0-55.6494119.5
Northwest Territories002n/a-100.002-100.0
Bankruptcies001n/a-100.001-100.0
Proposals001n/a-100.001-100.0
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut100n/an/a30n/a
Bankruptcies100n/an/a30n/a
Proposals000n/an/a00n/a
Canada6286078273.5-24.13,0253,719-18.7
Bankruptcies50345161711.5-18.52,2342,808-20.4
Proposals125156210-19.9-40.5791911-13.2
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
Q3 2020Q2 2020Q3 2019Q2 2020 to Q3 2020Q2 2019 to Q3 202009-30-202009-30-2019% Change
Newfoundland and Labrador215100.0-60.0714-50.0
Bankruptcies214100.0-50.0510-50.0
Proposals001n/a-100.024-50.0
Prince Edward Island012-100.0-100.014-75.0
Bankruptcies001n/a-100.003-100.0
Proposals011-100.0-100.0110.0
Nova Scotia106n/a-83.31727-37.0
Bankruptcies102n/a-50.01520-25.0
Proposals004n/a-100.027-71.4
New Brunswick2411-50.0-81.81232-62.5
Bankruptcies237-33.3-71.41026-61.5
Proposals014-100.0-100.026-66.7
Quebec3252983939.1-17.31,5491,864-16.9
Bankruptcies26924030212.1-10.91,2091,469-17.7
Proposals565891-3.4-38.5340395-13.9
Ontario1341301023.131.4487534-8.8
Bankruptcies10310675-2.837.3368397-7.3
Proposals31242729.214.8119137-13.1
Manitoba255-60.0-60.0161145.5
Bankruptcies255-60.0-60.010100.0
Proposals000n/an/a61500.0
Saskatchewan2240.0-50.010742.9
Bankruptcies1120.0-50.084100.0
Proposals1120.0-50.023-33.3
Alberta132237-40.9-64.9102106-3.8
Bankruptcies121331-7.7-61.37582-8.5
Proposals196-88.9-83.3272412.5
British Columbia183216-43.812.5726118.0
Bankruptcies151612-6.325.0453721.6
Proposals3164-81.3-25.0272412.5
Northwest Territories001n/a-100.001-100.0
Bankruptcies000n/an/a00n/a
Proposals001n/a-100.001-100.0
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut100n/an/a30n/a
Bankruptcies100n/an/a30n/a
Proposals000n/an/a00n/a
Canada5004955821.0-14.12,2762,661-14.5
Bankruptcies4083854416.0-7.51,7482,058-15.1
Proposals92110141-16.4-34.8528603-12.4
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
Q3 2020Q2 2020Q3 2019Q2 2020 to Q3 2020Q3 2019 to Q3 202009-30-202009-30-2019% Change
Newfoundland and Labrador305n/a-40.01127-59.3
Bankruptcies305n/a-40.0827-70.4
Proposals000n/an/a30n/a
Prince Edward Island000n/an/a4333.3
Bankruptcies000n/an/a4333.3
Proposals000n/an/a00n/a
Nova Scotia026-100.0-100.01226-53.8
Bankruptcies026-100.0-100.01224-50.0
Proposals000n/an/a02-100.0
New Brunswick313200.00.0617-64.7
Bankruptcies102n/a-50.0311-72.7
Proposals211100.0100.036-50.0
Quebec43245279.2-17.3211267-21.0
Bankruptcies331338153.8-13.2128178-28.1
Proposals101114-9.1-28.68389-6.7
Ontario3949110-20.4-64.5292416-29.8
Bankruptcies262879-7.1-67.1178294-39.5
Proposals132131-38.1-58.1114122-6.6
Manitoba87414.3100.024240.0
Bankruptcies76316.7133.321210.0
Proposals1110.00.0330.0
Saskatchewan652020.0-70.06690-26.7
Bankruptcies431433.3-71.45052-3.8
Proposals2260.0-66.71638-57.9
Alberta20152333.3-13.074116-36.2
Bankruptcies1691277.833.35585-35.3
Proposals4611-33.3-63.61931-38.7
British Columbia6921-33.3-71.44971-31.0
Bankruptcies55160.0-68.82754-50.0
Proposals145-75.0-80.0221729.4
Northwest Territories001n/a-100.001-100.0
Bankruptcies001n/a-100.001-100.0
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
Canada12811224514.3-47.87491,058-29.2
Bankruptcies956617643.9-46.0486750-35.2
Proposals334669-28.3-52.2263308-14.6