Insolvency Statistics in Canada—Third 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
Q3 2019Q2 2019Q3 2018Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-201909-30-2018% Change
Newfoundland and Labrador803919679-12.618.33,2012,77715.3
Bankruptcies377438359-13.95.01,4841,4095.3
Proposals426481320-11.433.11,7171,36825.5
Prince Edward Island174207165-15.95.57417153.6
Bankruptcies9210593-12.4-1.1392416-5.8
Proposals8210272-19.613.934929916.7
Nova Scotia1,5151,6251,379-6.89.95,9285,5816.2
Bankruptcies791906886-12.7-10.73,3363,517-5.1
Proposals7247194930.746.92,5922,06425.6
New Brunswick1,2691,3211,199-3.95.84,8744,4369.9
Bankruptcies623652616-4.41.12,4032,2775.5
Proposals646669583-3.410.82,4712,15914.5
Quebec11,14611,29010,473-1.36.444,55543,7441.9
Bankruptcies5,4015,5555,523-2.8-2.221,88522,991-4.8
Proposals5,7455,7354,9500.216.122,67020,7539.2
Ontario11,72611,8259,622-0.821.944,19039,04413.2
Bankruptcies3,8924,1473,744-6.14.015,24315,465-1.4
Proposals7,8347,6785,8782.033.328,94723,57922.8
Manitoba790833685-5.215.33,1332,77113.1
Bankruptcies355410333-13.46.61,4491,4112.7
Proposals4354233522.823.61,6841,36023.8
Saskatchewan8498409271.1-8.43,4503,4151.0
Bankruptcies301321364-6.2-17.31,3021,376-5.4
Proposals5485195635.6-2.72,1482,0395.3
Alberta4,2754,2843,566-0.219.916,40314,24715.1
Bankruptcies1,4391,4691,238-2.016.25,6165,04611.3
Proposals2,8362,8152,3280.721.810,7879,20117.2
British Columbia2,9622,8812,4212.822.311,06610,0929.7
Bankruptcies1,0951,0689922.510.44,1354,139-0.1
Proposals1,8671,8131,4293.030.76,9315,95316.4
Northwest Territories20151833.311.16397-35.1
Bankruptcies5010n/a-50.01655-70.9
Proposals151580.087.5474211.9
Yukon6104-40.050.03436-5.6
Bankruptcies3300.0n/a13130.0
Proposals374-57.1-25.02123-8.7
Nunavut001n/a-100.047-42.9
Bankruptcies000n/an/a02-100.0
Proposals001n/a-100.045-20.0
Canada35,53536,05031,139-1.414.1137,642126,9628.4
Bankruptcies14,37415,07414,158-4.61.557,27458,117-1.5
Proposals21,16120,97616,9810.924.680,36868,84516.7
Table 2: Insolvencies Filed by Consumers
provinceVolume% Change12-Month Period Ending
Q3 2019Q2 2019Q3 2018Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-201909-30-2018% Change
Newfoundland and Labrador793908672-12.718.03,1602,75314.8
Bankruptcies368427353-13.84.21,4471,3914.0
Proposals425481319-11.633.21,7131,36225.8
Prince Edward Island172202163-14.95.57347113.2
Bankruptcies9110092-9.0-1.1386413-6.5
Proposals8110271-20.614.134829816.8
Nova Scotia1,5031,6041,363-6.310.35,8755,5326.2
Bankruptcies783888877-11.8-10.73,2923,483-5.5
Proposals7207164860.648.12,5832,04926.1
New Brunswick1,2551,3081,191-4.15.44,8254,38810.0
Bankruptcies614640611-4.10.52,3662,2415.6
Proposals641668580-4.010.52,4592,14714.5
Quebec10,70110,7279,998-0.27.042,42441,6671.8
Bankruptcies5,0615,1355,163-1.4-2.020,23821,435-5.6
Proposals5,6405,5924,8350.916.622,18620,2329.7
Ontario11,51411,5799,407-0.622.443,24038,13113.4
Bankruptcies3,7383,9633,590-5.74.114,55214,794-1.6
Proposals7,7767,6165,8172.133.728,68823,33722.9
Manitoba781819676-4.615.53,0982,73813.1
Bankruptcies347399325-13.06.81,4181,3822.6
Proposals4344203513.323.61,6801,35623.9
Saskatchewan8258189060.9-8.93,3533,3011.6
Bankruptcies285311354-8.4-19.51,2461,299-4.1
Proposals5405075526.5-2.22,1072,0025.2
Alberta4,2154,2403,514-0.619.916,18114,04515.2
Bankruptcies1,3961,4391,198-3.016.55,4494,89911.2
Proposals2,8192,8012,3160.621.710,7329,14617.3
British Columbia2,9252,8462,4002.821.910,9349,9859.5
Bankruptcies1,0671,0439762.39.34,0444,061-0.4
Proposals1,8581,8031,4243.130.56,8905,92416.3
Northwest Territories18151820.00.06197-37.1
Bankruptcies4010n/a-60.01555-72.7
Proposals14158-6.775.046429.5
Yukon6104-40.050.03436-5.6
Bankruptcies3300.0n/a13130.0
Proposals374-57.1-25.02123-8.7
Nunavut001n/a-100.047-42.9
Bankruptcies000n/an/a02-100.0
Proposals001n/a-100.045-20.0
Canada34,70835,07630,313-1.014.5133,923123,3918.5
Bankruptcies13,75714,34813,549-4.11.554,46655,468-1.8
Proposals20,95120,72816,7641.125.079,45767,92317.0
Table 3: Insolvencies Filed by Businesses
provinceVolume% Change12-Month Period Ending
Q3 2019Q2 2019Q3 2018Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-201909-30-2018% Change
Newfoundland and Labrador10117-9.142.9412470.8
Bankruptcies9116-18.250.03718105.6
Proposals101n/a0.046-33.3
Prince Edward Island252-60.00.07475.0
Bankruptcies151-80.00.063100.0
Proposals101n/a0.0110.0
Nova Scotia122116-42.9-25.053498.2
Bankruptcies8189-55.6-11.1443429.4
Proposals43733.3-42.9915-40.0
New Brunswick141387.775.049482.1
Bankruptcies9125-25.080.037362.8
Proposals513400.066.712120.0
Quebec445563475-21.0-6.32,1312,0772.6
Bankruptcies340420360-19.0-5.61,6471,5565.8
Proposals105143115-26.6-8.7484521-7.1
Ontario212246215-13.8-1.49509134.1
Bankruptcies154184154-16.30.06916713.0
Proposals586261-6.5-4.92592427.0
Manitoba9149-35.70.035336.1
Bankruptcies8118-27.30.031296.9
Proposals131-66.70.0440.0
Saskatchewan2422219.114.397114-14.9
Bankruptcies16101060.060.05677-27.3
Proposals81211-33.3-27.3413710.8
Alberta60445236.415.42222029.9
Bankruptcies43304043.37.516714713.6
Proposals17141221.441.755550.0
British Columbia3735215.776.213210723.4
Bankruptcies28251612.075.0917816.7
Proposals9105-10.080.0412941.4
Northwest Territories200n/an/a20n/a
Bankruptcies100n/an/a10n/a
Proposals100n/an/a10n/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
Canada827974826-15.10.13,7193,5714.1
Bankruptcies617726609-15.01.32,8082,6496.0
Proposals210248217-15.3-3.2911922-1.2
Table 3a: Insolvencies Filed by Corporations
provinceVolume% Change12-Month Period Ending
Q3 2019Q2 2019Q3 2018Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-201909-30-2018% Change
Newfoundland and Labrador515400.0-80.014140.0
Bankruptcies414300.0-75.010825.0
Proposals101n/a-100.046-33.3
Prince Edward Island2200.0n/a41300.0
Bankruptcies120-50.0n/a31200.0
Proposals100n/an/a10n/a
Nova Scotia6119-45.522.2272412.5
Bankruptcies296-77.850.0201625.0
Proposals423100.0-33.378-12.5
New Brunswick119522.280.0322718.5
Bankruptcies784-12.5100.0261844.4
Proposals411300.00.069-33.3
Quebec393503419-21.920.01,8641,8470.9
Bankruptcies302387320-22.020.91,4691,3965.2
Proposals9111699-21.617.2395451-12.4
Ontario102138128-26.17.853448410.3
Bankruptcies7510995-31.214.73973726.7
Proposals272933-6.9-12.113711222.3
Manitoba5520.0150.011683.3
Bankruptcies54225.0100.0105100.0
Proposals010-100.0n/a110.0
Saskatchewan411300.00.0711-36.4
Bankruptcies200n/an/a46-33.3
Proposals211100.00.035-40.0
Alberta371824105.6-25.01061051.0
Bankruptcies311221158.3-42.9827213.9
Proposals6630.0100.02433-27.3
British Columbia1614514.3180.0614245.2
Bankruptcies129333.3200.0372548.0
Proposals452-20.0150.0241741.2
Northwest Territories100n/an/a10n/a
Bankruptcies000n/an/a00n/a
Proposals100n/an/a10n/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
Canada582702598-17.117.42,6612,5613.9
Bankruptcies441541455-18.518.92,0581,9197.2
Proposals141161143-12.412.6603642-6.1
Table 3b: Insolvencies Filed by Individual Businesses
provinceVolume% Change12-Month Period Ending
Q3 2019Q2 2019Q3 2018Q2 2019
to
Q3 2019
Q3 2018
to
Q3 2019
09-30-201909-30-2018% Change
Newfoundland and Labrador5102-50.0400.02710170.0
Bankruptcies5102-50.0400.02710170.0
Proposals000n/an/a00n/a
Prince Edward Island032-100.050.0330.0
Bankruptcies031-100.0200.03250.0
Proposals001n/a-100.001-100.0
Nova Scotia6107-40.042.926254.0
Bankruptcies693-33.3200.0241833.3
Proposals014-100.0-75.027-71.4
New Brunswick343-25.033.31721-19.0
Bankruptcies241-50.0300.01118-38.9
Proposals102n/a-100.063100.0
Quebec526056-13.37.126723016.1
Bankruptcies38334015.2-17.517816011.3
Proposals142716-48.168.8897027.1
Ontario110108871.924.1416429-3.0
Bankruptcies7975595.327.1294299-1.7
Proposals313328-6.117.9122130-6.2
Manitoba497-55.628.62427-11.1
Bankruptcies376-57.116.72124-12.5
Proposals121-50.0100.0330.0
Saskatchewan202120-4.85.090103-12.6
Bankruptcies14101040.00.05271-26.8
Proposals61110-45.510.0383218.8
Alberta232628-11.5-7.11169719.6
Bankruptcies121819-33.3-5.3857513.3
Proposals118937.5-11.1312240.9
British Columbia2121160.031.371659.2
Bankruptcies1616130.023.154531.9
Proposals5530.066.7171241.7
Northwest Territories100n/an/a10n/a
Bankruptcies100n/an/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
Canada245272228-9.919.31,0581,0104.8
Bankruptcies176185154-4.920.17507302.7
Proposals698774-20.717.630828010.0