Insolvency Statistics in Canada—First 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
Q1 2019Q4 2018Q1 2018Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador7727076959.211.12,9032,60711.4
Bankruptcies326343315-5.03.51,4071,3663.0
Proposals44636438022.517.41,4961,24120.5
Prince Edward Island171189192-9.5-10.97146972.4
Bankruptcies92103113-10.7-18.6408416-1.9
Proposals798679-8.10.03062818.9
Nova Scotia1,3951,3931,3150.16.15,7225,7090.2
Bankruptcies787852799-7.6-1.53,5043,750-6.6
Proposals60854151612.417.82,2181,95913.2
New Brunswick1,0991,185947-7.316.14,6694,3746.7
Bankruptcies529599458-11.715.52,3652,396-1.3
Proposals570586489-2.716.62,3041,97816.5
Quebec11,17110,94811,3012.0-1.243,70143,895-0.4
Bankruptcies5,2795,6505,664-6.6-6.822,38223,858-6.2
Proposals5,8925,2985,63711.24.521,31920,0376.4
Ontario10,41010,2299,5071.89.540,69638,6845.2
Bankruptcies3,4403,7643,638-8.6-5.415,15015,678-3.4
Proposals6,9706,4655,8697.818.825,54623,00611.0
Manitoba716794580-9.823.42,9882,57416.1
Bankruptcies302382269-20.912.31,4231,3634.4
Proposals4144123110.533.11,5651,21129.2
Saskatchewan860901799-4.67.63,5593,2938.1
Bankruptcies334346303-3.510.21,3701,437-4.7
Proposals526555496-5.26.02,1891,85617.9
Alberta3,9963,8483,4633.815.415,29413,55412.8
Bankruptcies1,4291,2791,22711.716.55,2895,0185.4
Proposals2,5672,5692,236-0.114.810,0058,53617.2
British Columbia2,5942,6292,494-1.34.010,3759,9973.8
Bankruptcies1,0069661,0644.1-5.54,0894,173-2.0
Proposals1,5881,6631,430-4.511.06,2865,8247.9
Northwest Territories17112454.5-29.27194-24.5
Bankruptcies389-62.5-66.73658-37.9
Proposals14315366.7-6.73536-2.8
Yukon61210-50.0-40.03139-20.5
Bankruptcies254-60.0-50.01119-42.1
Proposals476-42.9-33.320200.0
Nunavut400n/an/a7475.0
Bankruptcies000n/an/a02-100.0
Proposals400n/an/a72250.0
Canada33,21132,84631,3271.16.0130,730125,5214.1
Bankruptcies13,52914,29713,863-5.4-2.457,43459,534-3.5
Proposals19,68218,54917,4646.112.773,29665,98711.1
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
Q1 2019Q4 2018Q1 2018Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador7626976919.310.32,8732,57711.5
Bankruptcies316336311-6.01.61,3811,3432.8
Proposals44636138023.517.41,4921,23420.9
Prince Edward Island171189191-9.5-10.57116903.0
Bankruptcies92103112-10.7-17.9406411-1.2
Proposals798679-8.10.03052799.3
Nova Scotia1,3831,3851,299-0.16.55,6795,6530.5
Bankruptcies776845787-8.2-1.43,4723,704-6.3
Proposals60754051212.418.62,2071,94913.2
New Brunswick1,0861,176942-7.715.34,6244,3207.0
Bankruptcies520592453-12.214.82,3292,356-1.1
Proposals566584489-3.115.72,2951,96416.9
Quebec10,59710,39910,7431.9-1.441,59041,821-0.6
Bankruptcies4,8165,2265,242-7.8-8.120,76222,270-6.8
Proposals5,7815,1735,50111.85.120,82819,5516.5
Ontario10,1719,9769,2722.09.739,75537,7955.2
Bankruptcies3,2643,5873,458-9.0-5.614,46615,023-3.7
Proposals6,9076,3895,8148.118.825,28922,77211.1
Manitoba709789572-10.124.02,9612,53916.6
Bankruptcies295377261-21.813.01,3981,3344.8
Proposals4144123110.533.11,5631,20529.7
Saskatchewan837873772-4.18.43,4643,1609.6
Bankruptcies322328288-1.811.81,3141,336-1.6
Proposals515545484-5.56.42,1501,82417.9
Alberta3,9343,7923,4163.715.215,07313,34712.9
Bankruptcies1,3851,2291,19612.715.85,1144,8834.7
Proposals2,5492,5632,220-0.514.89,9598,46417.7
British Columbia2,5622,6012,465-1.53.910,2699,8734.0
Bankruptcies9859491,0423.8-5.54,0154,078-1.5
Proposals1,5771,6521,423-4.510.86,2545,7957.9
Northwest Territories17112454.5-29.27193-23.7
Bankruptcies389-62.5-66.73657-36.8
Proposals14315366.7-6.73536-2.8
Yukon61210-50.0-40.03139-20.5
Bankruptcies254-60.0-50.01119-42.1
Proposals476-42.9-33.320200.0
Nunavut400n/an/a7475.0
Bankruptcies000n/an/a02-100.0
Proposals400n/an/a72250.0
Canada32,23931,90030,3971.16.1127,108121,9114.3
Bankruptcies12,77613,58513,163-6.0-2.954,70456,816-3.7
Proposals19,46318,31517,2346.312.972,40465,09511.2
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
Q1 2019Q4 2018Q1 2018Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador101040.0150.030300.0
Bankruptcies107442.9150.0262313.0
Proposals030-100.0n/a47-42.9
Prince Edward Island001n/a-100.037-57.1
Bankruptcies001n/a-100.025-60.0
Proposals000n/an/a12-50.0
Nova Scotia1281650.0-25.04356-23.2
Bankruptcies1171257.1-8.33246-30.4
Proposals1140.0-75.0111010.0
New Brunswick139544.4160.04554-16.7
Bankruptcies97528.680.03640-10.0
Proposals420100.0n/a914-35.7
Quebec5745495584.62.92,1112,0741.8
Bankruptcies4634244229.29.71,6201,5882.0
Proposals111125136-11.2-18.44914861.0
Ontario239253235-5.51.79418895.8
Bankruptcies176177180-0.6-2.26846554.4
Proposals637655-17.114.52572349.8
Manitoba75840.0-12.52735-22.9
Bankruptcies75840.0-12.52529-13.8
Proposals000n/an/a26-66.7
Saskatchewan232827-17.9-14.895133-28.6
Bankruptcies121815-33.3-20.056101-44.6
Proposals11101210.0-8.3393221.9
Alberta62564710.731.92212076.8
Bankruptcies445031-12.041.917513529.6
Proposals18616200.012.54672-36.1
British Columbia32282914.310.3106124-14.5
Bankruptcies21172223.5-4.57495-22.1
Proposals111170.057.1322910.3
Northwest Territories000n/an/a01-100.0
Bankruptcies000n/an/a01-100.0
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
Canada9729469302.74.53,6223,6100.3
Bankruptcies7537127005.87.62,7302,7180.4
Proposals219234230-6.4-4.88928920.0
Table 3a: Insolvencies Filed by Corporations
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 3 5 1 -40.0 400.0 13 16 -18.8
Bankruptcies 3 2 1 50.0 100.0 9 10 -10.0
Proposals 0 3 0 -100.0 n/a 4 6 -33.3
Prince Edward Island 0 0 0 n/a n/a 1 3 -66.7
Bankruptcies 0 0 0 n/a n/a 1 1 0.0
Proposals 0 0 0 n/a n/a 0 2 -100.0
Nova Scotia 6 4 8 50.0 -50.0 22 20 10.0
Bankruptcies 5 4 6 25.0 -33.3 17 14 21.4
Proposals 1 0 2 n/a -100.0 5 6 -16.7
New Brunswick 6 6 4 0.0 50.0 22 34 -35.3
Bankruptcies 6 5 4 20.0 25.0 20 24 -16.7
Proposals 0 1 0 -100.0 n/a 2 10 -80.0
Quebec 502 466 499 7.7 -6.6 1,834 1,854 -1.1
Bankruptcies 413 367 386 12.5 -4.9 1,428 1,432 -0.3
Proposals 89 99 113 -10.1 -12.4 406 422 -3.8
Ontario 140 154 106 -9.1 45.3 557 456 22.1
Bankruptcies 104 109 88 -4.6 23.9 413 346 19.4
Proposals 36 45 18 -20.0 150.0 144 110 30.9
Manitoba 0 1 2 -100.0 -50.0 4 9 -55.6
Bankruptcies 0 1 2 -100.0 -50.0 3 7 -57.1
Proposals 0 0 0 n/a n/a 1 2 -50.0
Saskatchewan 1 1 3 0.0 -66.7 6 11 -45.5
Bankruptcies 1 1 1 0.0 0.0 4 7 -42.9
Proposals 0 0 2 n/a -100.0 2 4 -50.0
Alberta 27 24 27 12.5 -11.1 99 127 -22.0
Bankruptcies 17 22 17 -22.7 29.4 77 75 2.7
Proposals 10 2 10 400.0 -80.0 22 52 -57.7
British Columbia 17 14 9 21.4 55.6 45 60 -25.0
Bankruptcies 9 7 6 28.6 16.7 27 39 -30.8
Proposals 8 7 3 14.3 133.3 18 21 -14.3
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 702 675 659 4.0 2.4 2,603 2,591 0.5
Bankruptcies 558 518 511 7.7 1.4 1,999 1,956 2.2
Proposals 144 157 148 -8.3 6.1 604 635 -4.9
 
Table 3b: Insolvencies Filed by Individual Businesses
Province Volume % Change 12-Month Period Ending
Q1 2019 Q4 2018 Q1 2018 Q4 2018
to
Q1 2019
Q1 2018
to
Q1 2019
03-31-2019 03-31-2018 % Change
Newfoundland and Labrador 7 5 3 40.0 66.7 17 14 21.4
Bankruptcies 7 5 3 40.0 66.7 17 13 30.8
Proposals 0 0 0 n/a n/a 0 1 -100.0
Prince Edward Island 0 0 1 n/a -100.0 2 4 -50.0
Bankruptcies 0 0 1 n/a -100.0 1 4 -75.0
Proposals 0 0 0 n/a n/a 1 0 n/a
Nova Scotia 6 4 8 50.0 -50.0 21 36 -41.7
Bankruptcies 6 3 6 100.0 -50.0 15 32 -53.1
Proposals 0 1 2 -100.0 -50.0 6 4 50.0
New Brunswick 7 3 1 133.3 200.0 23 20 15.0
Bankruptcies 3 2 1 50.0 100.0 16 16 0.0
Proposals 4 1 0 300.0 n/a 7 4 75.0
Quebec 72 83 59 -13.3 40.7 277 220 25.9
Bankruptcies 50 57 36 -12.3 58.3 192 156 23.1
Proposals 22 26 23 -15.4 13.0 85 64 32.8
Ontario 99 99 129 0.0 -23.3 384 433 -11.3
Bankruptcies 72 68 92 5.9 -26.1 271 309 -12.3
Proposals 27 31 37 -12.9 -16.2 113 124 -8.9
Manitoba 7 4 6 75.0 -33.3 23 26 -11.5
Bankruptcies 7 4 6 75.0 -33.3 22 22 0.0
Proposals 0 0 0 n/a n/a 1 4 -75.0
Saskatchewan 22 27 24 -18.5 12.5 89 122 -27.0
Bankruptcies 11 17 14 -35.3 21.4 52 94 -44.7
Proposals 11 10 10 10.0 0.0 37 28 32.1
Alberta 35 32 20 9.4 60.0 122 80 52.5
Bankruptcies 27 28 14 -3.6 100.0 98 60 63.3
Proposals 8 4 6 100.0 -33.3 24 20 20.0
British Columbia 15 14 20 7.1 -30.0 61 64 -4.7
Bankruptcies 12 10 16 20.0 -37.5 47 56 -16.1
Proposals 3 4 4 -25.0 0.0 14 8 75.0
Northwest Territories 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
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 270 271 271 -0.4 0.0 1,019 1,019 0.0
Bankruptcies 195 194 189 0.5 2.6 731 762 -4.1
Proposals 75 77 82 -2.6 -6.1 288 257 12.1