Insolvency Statistics in Canada—December 2018

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
December
2018
November
2018
December
2017
Nov. 2018
to
Dec. 2018
Dec. 2017
to
Dec. 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 193 273 164 -29.3 17.7 2,826 2,515 12.4
Bankruptcies 103 129 94 -20.2 9.6 1,396 1,390 0.4
Proposals 90 144 70 -37.5 28.6 1,430 1,125 27.1
Prince Edward Island 62 63 42 -1.6 47.6 735 685 7.3
Bankruptcies 34 35 21 -2.9 61.9 429 397 8.1
Proposals 28 28 21 0.0 33.3 306 288 6.3
Nova Scotia 387 490 375 -21.0 3.2 5,642 5,773 -2.3
Bankruptcies 241 299 261 -19.4 -7.7 3,516 3,850 -8.7
Proposals 146 191 114 -23.6 28.1 2,126 1,923 10.6
New Brunswick 338 436 362 -22.5 -6.6 4,517 4,418 2.2
Bankruptcies 179 216 192 -17.1 -6.8 2,294 2,500 -8.2
Proposals 159 220 170 -27.7 -6.5 2,223 1,918 15.9
Quebec 2,870 3,880 3,063 -26.0 -6.3 43,831 43,731 0.2
Bankruptcies 1,554 1,889 1,699 -17.7 -8.5 22,767 24,210 -6.0
Proposals 1,316 1,991 1,364 -33.9 -3.5 21,064 19,521 7.9
Ontario 2,998 3,661 2,687 -18.1 11.6 39,793 39,045 1.9
Bankruptcies 1,131 1,276 1,180 -11.4 -4.2 15,348 15,968 -3.9
Proposals 1,867 2,385 1,507 -21.7 23.9 24,445 23,077 5.9
Manitoba 220 267 190 -17.6 15.8 2,852 2,643 7.9
Bankruptcies 90 138 117 -34.8 -23.1 1,390 1,408 -1.3
Proposals 130 129 73 0.8 78.1 1,462 1,235 18.4
Saskatchewan 252 303 247 -16.8 2.0 3,498 3,258 7.4
Bankruptcies 108 113 124 -4.4 -12.9 1,339 1,472 -9.0
Proposals 144 190 123 -24.2 17.1 2,159 1,786 20.9
Alberta 1,109 1,376 973 -19.4 14.0 14,761 13,481 9.5
Bankruptcies 363 456 359 -20.4 1.1 5,087 5,139 -1.0
Proposals 746 920 614 -18.9 21.5 9,674 8,342 16.0
British Columbia 786 903 770 -13.0 2.1 10,275 10,136 1.4
Bankruptcies 278 330 299 -15.8 -7.0 4,147 4,263 -2.7
Proposals 508 573 471 -11.3 7.9 6,128 5,873 4.3
Northwest Territories 4 5 8 -20.0 -50.0 78 81 -3.7
Bankruptcies 4 4 4 0.0 0.0 42 52 -19.2
Proposals 0 1 4 -100.0 -100.0 36 29 24.1
Yukon 6 4 5 50.0 20.0 35 37 -5.4
Bankruptcies 2 2 2 0.0 0.0 13 18 -27.8
Proposals 4 2 3 100.0 33.3 22 19 15.8
Nunavut 0 0 3 n/a -100.0 3 4 -25.0
Bankruptcies 0 0 2 n/a -100.0 0 2 -100.0
Proposals 0 0 1 n/a -100.0 3 2 50.0
Canada 9,225 11,661 8,889 -20.9 3.8 128,846 125,807 2.4
Bankruptcies 4,087 4,887 4,354 -16.4 -6.1 57,768 60,669 -4.8
Proposals 5,138 6,774 4,535 -24.2 13.3 71,078 65,138 9.1
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
December
2018
November
2018
December
2017
Nov. 2018
to
Dec. 2018
Dec. 2017
to
Dec. 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 190 268 164 -29.1 15.9 2,802 2,479 13.0
Bankruptcies 101 126 94 -19.8 7.4 1,376 1,367 0.7
Proposals 89 142 70 -37.3 27.1 1,426 1,112 28.2
Prince Edward Island 62 63 42 -1.6 47.6 731 673 8.6
Bankruptcies 34 35 21 -2.9 61.9 426 387 10.1
Proposals 28 28 21 0.0 33.3 305 286 6.6
Nova Scotia 386 485 372 -20.4 3.8 5,595 5,724 -2.3
Bankruptcies 240 295 259 -18.6 -7.3 3,483 3,807 -8.5
Proposals 146 190 113 -23.2 29.2 2,112 1,917 10.2
New Brunswick 337 433 351 -22.2 -4.0 4,480 4,361 2.7
Bankruptcies 178 214 189 -16.8 -5.8 2,262 2,457 -7.9
Proposals 159 219 162 -27.4 -1.9 2,218 1,904 16.5
Quebec 2,687 3,690 2,898 -27.2 -7.3 41,736 41,670 0.2
Bankruptcies 1,401 1,754 1,567 -20.1 -10.6 21,188 22,647 -6.4
Proposals 1,286 1,936 1,331 -33.6 -3.4 20,548 19,023 8.0
Ontario 2,933 3,562 2,613 -17.7 12.2 38,856 38,167 1.8
Bankruptcies 1,083 1,212 1,133 -10.6 -4.4 14,660 15,336 -4.4
Proposals 1,850 2,350 1,480 -21.3 25.0 24,196 22,831 6.0
Manitoba 219 265 187 -17.4 17.1 2,824 2,604 8.4
Bankruptcies 89 136 114 -34.6 -21.9 1,364 1,375 -0.8
Proposals 130 129 73 0.8 78.1 1,460 1,229 18.8
Saskatchewan 249 289 236 -13.8 5.5 3,399 3,122 8.9
Bankruptcies 105 107 115 -1.9 -8.7 1,280 1,368 -6.4
Proposals 144 182 121 -20.9 19.0 2,119 1,754 20.8
Alberta 1,086 1,360 958 -20.1 13.4 14,555 13,286 9.6
Bankruptcies 342 440 350 -22.3 -2.3 4,925 5,008 -1.7
Proposals 744 920 608 -19.1 22.4 9,630 8,278 16.3
British Columbia 780 896 754 -12.9 3.4 10,172 9,991 1.8
Bankruptcies 273 325 292 -16.0 -6.5 4,072 4,146 -1.8
Proposals 507 571 462 -11.2 9.7 6,100 5,845 4.4
Northwest Territories 4 5 8 -20.0 -50.0 78 80 -2.5
Bankruptcies 4 4 4 0.0 0.0 42 51 -17.6
Proposals 0 1 4 -100.0 -100.0 36 29 24.1
Yukon 6 4 5 50.0 20.0 35 37 -5.4
Bankruptcies 2 2 2 0.0 0.0 13 18 -27.8
Proposals 4 2 3 100.0 33.3 22 19 15.8
Nunavut 0 0 3 n/a -100.0 3 4 -25.0
Bankruptcies 0 0 2 n/a -100.0 0 2 -100.0
Proposals 0 0 1 n/a -100.0 3 2 50.0
Canada 8,939 11,320 8,591 -21.0 4.1 125,266 122,198 2.5
Bankruptcies 3,852 4,650 4,142 -17.2 -7.0 55,091 57,969 -5.0
Proposals 5,087 6,670 4,449 -23.7 14.3 70,175 64,229 9.3
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
December
2018
November
2018
December
2017
Nov. 2018
to
Dec. 2018
Dec. 2017
to
Dec. 2018
12-31-2018 12-31-2017 % Change
Newfoundland and Labrador 3 5 0 -40.0 n/a 24 36 -33.3
Bankruptcies 2 3 0 -33.3 n/a 20 23 -13.0
Proposals 1 2 0 -50.0 n/a 4 13 -69.2
Prince Edward Island 0 0 0 n/a n/a 4 12 -66.7
Bankruptcies 0 0 0 n/a n/a 3 10 -70.0
Proposals 0 0 0 n/a n/a 1 2 -50.0
Nova Scotia 1 5 3 -80.0 -66.7 47 49 -4.1
Bankruptcies 1 4 2 -75.0 -50.0 33 43 -23.3
Proposals 0 1 1 -100.0 -100.0 14 6 133.3
New Brunswick 1 3 11 -66.7 -90.9 37 57 -35.1
Bankruptcies 1 2 3 -50.0 -66.7 32 43 -25.6
Proposals 0 1 8 -100.0 -100.0 5 14 -64.3
Quebec 183 190 165 -3.7 10.9 2,095 2,061 1.6
Bankruptcies 153 135 132 13.3 15.9 1,579 1,563 1.0
Proposals 30 55 33 -45.5 -9.1 516 498 3.6
Ontario 65 99 74 -34.3 -12.2 937 878 6.7
Bankruptcies 48 64 47 -25.0 2.1 688 632 8.9
Proposals 17 35 27 -51.4 -37.0 249 246 1.2
Manitoba 1 2 3 -50.0 -66.7 28 39 -28.2
Bankruptcies 1 2 3 -50.0 -66.7 26 33 -21.2
Proposals 0 0 0 n/a n/a 2 6 -66.7
Saskatchewan 3 14 11 -78.6 -72.7 99 136 -27.2
Bankruptcies 3 6 9 -50.0 -66.7 59 104 -43.3
Proposals 0 8 2 -100.0 -100.0 40 32 25.0
Alberta 23 16 15 43.8 53.3 206 195 5.6
Bankruptcies 21 16 9 31.3 133.3 162 131 23.7
Proposals 2 0 6 n/a -66.7 44 64 -31.3
British Columbia 6 7 16 -14.3 -62.5 103 145 -29.0
Bankruptcies 5 5 7 0.0 -28.6 75 117 -35.9
Proposals 1 2 9 -50.0 -88.9 28 28 0.0
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 286 341 298 -16.1 -4.0 3,580 3,609 -0.8
Bankruptcies 235 237 212 -0.8 10.8 2,677 2,700 -0.9
Proposals 51 104 86 -51.0 -40.7 903 909 -0.7
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
December
2018
November
2018
December
2017
Nov. 2018
to
Dec. 2018
Dec. 2017
to
Dec. 2018
12-31-2018 12-31-2017 % Change
Agriculture, Forestry, Fishing and Hunting 7 2 7 250.0 0.0 64 68 -5.9
Bankruptcies 5 2 5 150.0 0.0 46 49 -6.1
Proposals 2 0 2 n/a 0.0 18 19 -5.3
Mining and Oil and Gas Extraction 6 3 6 100.0 0.0 24 47 -48.9
Bankruptcies 5 3 3 66.7 66.7 15 30 -50.0
Proposals 1 0 3 n/a -66.7 9 17 -47.1
Utilities 1 1 1 0.0 0.0 8 6 33.3
Bankruptcies 1 0 1 n/a 0.0 5 6 -16.7
Proposals 0 1 0 -100.0 n/a 3 0 n/a
Construction 52 64 59 -18.8 -11.9 723 660 9.5
Bankruptcies 46 44 44 4.5 4.5 527 479 10.0
Proposals 6 20 15 -70.0 -60.0 196 181 8.3
Manufacturing 27 29 30 -6.9 -10.0 297 343 -13.4
Bankruptcies 21 20 15 5.0 40.0 213 238 -10.5
Proposals 6 9 15 -33.3 -60.0 84 105 -20.0
Wholesale Trade 14 17 16 -17.6 -12.5 157 172 -8.7
Bankruptcies 10 13 12 -23.1 -16.7 121 122 -0.8
Proposals 4 4 4 0.0 0.0 36 50 -28.0
Retail Trade 27 38 35 -28.9 -22.9 409 403 1.5
Bankruptcies 24 26 33 -7.7 -27.3 322 319 0.9
Proposals 3 12 2 -75.0 50.0 87 84 3.6
Transportation and Warehousing 10 19 13 -47.4 -23.1 230 223 3.1
Bankruptcies 10 13 9 -23.1 11.1 178 171 4.1
Proposals 0 6 4 -100.0 -100.0 52 52 0.0
Information and Cultural Industries 4 6 5 -33.3 -20.0 63 61 3.3
Bankruptcies 3 4 5 -25.0 -40.0 49 46 6.5
Proposals 1 2 0 -50.0 n/a 14 15 -6.7
Finance and Insurance 4 11 5 -63.6 -20.0 64 66 -3.0
Bankruptcies 4 8 4 -50.0 0.0 48 52 -7.7
Proposals 0 3 1 -100.0 -100.0 16 14 14.3
Real Estate and Rental and Leasing 8 18 7 -55.6 14.3 149 136 9.6
Bankruptcies 7 9 5 -22.2 40.0 105 98 7.1
Proposals 1 9 2 -88.9 -50.0 44 38 15.8
Professional, Scientific and Technical Services 17 28 22 -39.3 -22.7 249 256 -2.7
Bankruptcies 13 22 15 -40.9 -13.3 190 199 -4.5
Proposals 4 6 7 -33.3 -42.9 59 57 3.5
Management of Companies and Enterprises 10 8 7 25.0 42.9 81 82 -1.2
Bankruptcies 6 8 5 -25.0 20.0 66 64 3.1
Proposals 4 0 2 n/a 100.0 15 18 -16.7
Administrative and Support, Waste Management and Remediation Services 8 14 10 -42.9 -20.0 157 150 4.7
Bankruptcies 7 7 9 0.0 -22.2 109 110 -0.9
Proposals 1 7 1 -85.7 0.0 48 40 20.0
Educational Services 2 4 2 -50.0 0.0 29 37 -21.6
Bankruptcies 2 2 1 0.0 100.0 22 31 -29.0
Proposals 0 2 1 -100.0 -100.0 7 6 16.7
Health Care and Social Assistance 6 10 10 -40.0 -40.0 80 81 -1.2
Bankruptcies 2 4 6 -50.0 -66.7 48 62 -22.6
Proposals 4 6 4 -33.3 0.0 32 19 68.4
Arts, Entertainment and Recreation 4 4 7 0.0 -42.9 68 79 -13.9
Bankruptcies 4 1 6 300.0 -33.3 52 59 -11.9
Proposals 0 3 1 -100.0 -100.0 16 20 -20.0
Accommodation and Food Services 53 48 37 10.4 43.2 537 544 -1.3
Bankruptcies 43 38 21 13.2 104.8 411 404 1.7
Proposals 10 10 16 0.0 -37.5 126 140 -10.0
Other Services (except Public Administration) 25 17 19 47.1 31.6 187 190 -1.6
Bankruptcies 21 13 13 61.5 61.5 147 157 -6.4
Proposals 4 4 6 0.0 -33.3 40 33 21.2
Public Administration 1 0 0 n/a n/a 4 5 -20.0
Bankruptcies 1 0 0 n/a n/a 3 4 -25.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 286 341 298 -16.1 -4.0 3,580 3,609 -0.8
Bankruptcies 235 237 212 -0.8 10.8 2,677 2,700 -0.9
Proposals 51 104 86 -51.0 -40.7 903 909 -0.7
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