Insolvency Statistics in Canada—Second 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
Q2 2020Q1 2020Q2 2019Q1 2020 to Q2 2020Q2 2019 to Q2 202006-30-202006-30-2019% Change
Newfoundland and Labrador344624919-44.9-62.62,5393,077-17.5
Bankruptcies170270438-37.0-61.21,1771,466-19.7
Proposals174354481-50.8-63.81,3621,611-15.5
Prince Edward Island 91 139 207 -34.5 -56.0 611 732 -16.5
Bankruptcies 40 81 105 -50.6 -61.9 319 393 -18.8
Proposals 51 58 102 -12.1 -50.0 292 339 -13.9
Nova Scotia6821,2771,625-46.6-58.05,0385,792-13.0
Bankruptcies311593906-47.6-65.72,4553,431-28.4
Proposals371684719-45.8-48.42,5832,3619.4
New Brunswick 608 1,150 1,321 -47.1 -54.0 4,234 4,804 -11.9
Bankruptcies 280 456 652 -38.6 -57.1 1,932 2,396 -19.4
Proposals 328 694 669 -52.7 -51.0 2,302 2,408 -4.4
Quebec4,88110,86111,290-55.1-56.838,27243,882-12.8
Bankruptcies2,3454,6275,555-49.3-57.817,79622,007-19.1
Proposals2,5366,2345,735-59.3-55.820,47621,875-6.4
Ontario 7,312 11,396 11,825 -35.8 -38.2 42,227 42,086 0.3
Bankruptcies 2,017 3,280 4,147 -38.5 -51.4 12,939 15,095 -14.3
Proposals 5,295 8,116 7,678 -34.8 -31.0 29,288 26,991 8.5
Manitoba597803833-25.7-28.33,0363,0280.3
Bankruptcies181234410-22.6-55.91,0801,427-24.3
Proposals416569423-26.9-1.71,9561,60122.2
Saskatchewan 571 861 840 -33.7 -32.0 3,289 3,528 -6.8
Bankruptcies 189 321 321 -41.1 -41.1 1,236 1,365 -9.5
Proposals 382 540 519 -29.3 -26.4 2,053 2,163 -5.1
Alberta2,7634,3454,284-36.4-35.515,72615,6940.2
Bankruptcies7631,2481,469-38.9-48.14,8575,415-10.3
Proposals2,0003,0972,815-35.4-29.010,86910,2795.7
British Columbia 1,890 2,635 2,881 -28.3 -34.4 10,398 10,525 -1.2
Bankruptcies 560 961 1,068 -41.7 -47.6 3,671 4,032 -9.0
Proposals 1,330 1,674 1,813 -20.5 -26.6 6,727 6,493 3.6
Northwest Territories91515-40.0-40.06061-1.6
Bankruptcies350-40.0n/a1521-28.6
Proposals61015-40.0-60.0454012.5
Yukon 16 4 10 300.0 60.0 37 32 15.6
Bankruptcies 5 2 3 150.0 66.7 15 10 50.0
Proposals 11 2 7 450.0 57.1 22 22 0.0
Nunavut300n/an/a7540.0
Bankruptcies000n/an/a20n/a
Proposals300n/an/a550.0
Canada19,76734,11036,050-42.0-45.2125,474133,246-5.8
Bankruptcies6,86412,07815,074-43.2-54.547,49457,058-16.8
Proposals12,90322,03220,976-41.4-38.577,98076,1882.4
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
Q2 2020Q1 2020Q2 2019Q1 2020 to Q2 2020Q2 2019 to Q2 202006-30-202006-30-2019% Change
Newfoundland and Labrador343622908-44.9-62.22,5163,039-17.2
Bankruptcies169268427-36.9-60.41,1601,432-19.0
Proposals174354481-50.8-63.81,3561,607-15.6
Prince Edward Island 90 138 202 -34.8 -55.4 604 725 -16.7
Bankruptcies 40 80 100 -50.0 -60.0 314 387 -18.9
Proposals 50 58 102 -13.8 -51.0 290 338 -14.2
Nova Scotia6801,2651,604-46.2-57.64,9985,735-12.9
Bankruptcies309583888-47.0-65.22,4213,386-28.5
Proposals371682716-45.6-48.22,5772,3499.7
New Brunswick 603 1,147 1,308 -47.4 -53.9 4,207 4,761 -11.6
Bankruptcies 277 453 640 -38.9 -56.7 1,913 2,363 -19.0
Proposals 326 694 668 -53.0 -51.2 2,294 2,398 -4.3
Quebec4,55910,33510,727-55.9-57.536,43541,721-12.7
Bankruptcies2,0924,2425,135-50.7-59.316,42120,340-19.3
Proposals2,4676,0935,592-59.5-55.920,01421,381-6.4
Ontario 7,133 11,174 11,579 -36.2 -38.4 41,409 41,133 0.7
Bankruptcies 1,883 3,135 3,963 -39.9 -52.5 12,368 14,404 -14.1
Proposals 5,250 8,039 7,616 -34.7 -31.1 29,041 26,729 8.6
Manitoba585794819-26.3-28.62,9972,9930.1
Bankruptcies170230399-26.1-57.41,0501,396-24.8
Proposals415564420-26.4-1.21,9471,59721.9
Saskatchewan 564 835 818 -32.5 -31.1 3,197 3,434 -6.9
Bankruptcies 185 298 311 -37.9 -40.5 1,167 1,315 -11.3
Proposals 379 537 507 -29.4 -25.2 2,030 2,119 -4.2
Alberta2,7264,2964,240-36.5-35.715,52315,4800.3
Bankruptcies7411,2061,439-38.6-48.54,7125,251-10.3
Proposals1,9853,0902,801-35.8-29.110,81110,2295.7
British Columbia 1,849 2,602 2,846 -28.9 -35.0 10,264 10,409 -1.4
Bankruptcies 539 946 1,043 -43.0 -48.3 3,591 3,953 -9.2
Proposals 1,310 1,656 1,803 -20.9 -27.3 6,673 6,456 3.4
Northwest Territories91515-40.0-40.05861-4.9
Bankruptcies350-40.0n/a1421-33.3
Proposals61015-40.0-60.0444010.0
Yukon 16 4 10 300.0 60.0 37 32 15.6
Bankruptcies 5 2 3 150.0 66.7 15 10 50.0
Proposals 11 2 7 450.0 57.1 22 22 0.0
Nunavut300n/an/a550.0
Bankruptcies000n/an/a00n/a
Proposals300n/an/a550.0
Canada19,16033,22735,076-42.3-45.4122,250129,528-5.6
Bankruptcies6,41311,44814,348-44.0-55.345,14654,258-16.8
Proposals12,74721,77920,728-41.5-38.577,10475,2702.4
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
Q2 2020Q1 2020Q2 2019Q1 2020 to Q2 2020Q2 2019 to Q2 202006-30-202006-30-2019% Change
Newfoundland and Labrador1211-50.0-90.92338-39.5
Bankruptcies1211-50.0-90.91734-50.0
Proposals000n/an/a6450.0
Prince Edward Island 1 1 5 0.0 -80.0 7 7 0.0
Bankruptcies 0 1 5 -100.0 -100.0 5 6 -16.7
Proposals 1 0 0 n/a n/a 2 1 100.0
Nova Scotia21221-83.3-90.54057-29.8
Bankruptcies21018-80.0-88.93445-24.4
Proposals023-100.0-100.0612-50.0
New Brunswick 5 3 13 66.7 -61.5 27 43 -37.2
Bankruptcies 3 3 12 0.0 -75.0 19 33 -42.4
Proposals 2 0 1 n/a 100.0 8 10 -20.0
Quebec322526563-38.8-42.81,8372,161-15.0
Bankruptcies253385420-34.3-39.81,3751,667-17.5
Proposals69141143-51.1-51.7462494-6.5
Ontario 179 222 246 -19.4 -27.2 818 953 -14.2
Bankruptcies 134 145 184 -7.6 -27.2 571 691 -17.4
Proposals 45 77 62 -41.6 -27.4 247 262 -5.7
Manitoba1291433.3-14.3393511.4
Bankruptcies11411175.00.03031-3.2
Proposals153-80.0-66.794125.0
Saskatchewan 7 26 22 -73.1 -68.2 92 94 -2.1
Bankruptcies 4 23 10 -82.6 -60.0 69 50 38.0
Proposals 3 3 12 0.0 -75.0 23 44 -47.7
Alberta374944-24.5-15.9203214-5.1
Bankruptcies224230-47.6-26.7145164-11.6
Proposals15714114.37.1585016.0
British Columbia 41 33 35 24.2 17.1 134 116 15.5
Bankruptcies 21 15 25 40.0 -16.0 80 79 1.3
Proposals 20 18 10 11.1 100.0 54 37 45.9
Northwest Territories000n/an/a20n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a10n/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
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada607883974-31.3-37.73,2243,718-13.3
Bankruptcies451630726-28.4-37.92,3482,800-16.1
Proposals156253248-38.3-37.1876918-4.6
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
Q2 2020Q1 2020Q2 2019Q1 2020 to Q2 2020Q2 2019 to Q2 202006-30-202006-30-2019% Change
Newfoundland and Labrador101n/a0.01014-28.6
Bankruptcies101n/a0.0710-30.0
Proposals000n/an/a34-25.0
Prince Edward Island 1 0 2 n/a -50.0 3 2 50.0
Bankruptcies 0 0 2 n/a -100.0 1 2 -50.0
Proposals 1 0 0 n/a n/a 2 0 n/a
Nova Scotia0811-100.0-100.02230-26.7
Bankruptcies069-100.0-100.01624-33.3
Proposals022-100.0-100.0660.0
New Brunswick 4 3 9 33.3 -55.6 21 26 -19.2
Bankruptcies 3 3 8 0.0 -62.5 15 23 -34.8
Proposals 1 0 1 n/a 0.0 6 3 100.0
Quebec298462503-35.5-40.81,6171,890-14.4
Bankruptcies240349387-31.2-38.01,2421,487-16.5
Proposals58113116-48.7-50.0375403-6.9
Ontario 130 115 138 13.0 -5.8 455 560 -18.8
Bankruptcies 106 85 109 24.7 -2.8 340 417 -18.5
Proposals 24 30 29 -20.0 -17.2 115 143 -19.6
Manitoba565-16.70.0198137.5
Bankruptcies514400.025.013785.7
Proposals051-100.0-100.061500.0
Saskatchewan 2 4 1 -50.0 100.0 12 4 200.0
Bankruptcies 1 4 0 -75.0 n/a 9 2 350.0
Proposals 1 0 1 n/a 0.0 3 2 50.0
Alberta223218-31.322.21269335.5
Bankruptcies132712-51.98.3947230.6
Proposals95680.050.0322152.4
British Columbia 32 15 14 113.3 128.6 70 50 40.0
Bankruptcies 16 8 9 100.0 77.8 42 28 50.0
Proposals 16 7 5 128.6 220.0 28 22 27.3
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a10n/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
Nunavut000n/an/a20n/a
Bankruptcies000n/an/a20n/a
Proposals000n/an/a00n/a
Canada495645702-23.3-29.52,3582,677-11.9
Bankruptcies385483541-20.3-28.81,7812,072-14.0
Proposals110162161-32.1-31.7577605-4.6
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
Q2 2020Q1 2020Q2 2019Q1 2020 to Q2 2020Q2 2019 to Q2 202006-30-202006-30-2019% Change
Newfoundland and Labrador0210-100.0-100.01324-45.8
Bankruptcies0210-100.0-100.01024-58.3
Proposals000n/an/a30n/a
Prince Edward Island 0 1 3 -100.0 -100.0 4 5 -20.0
Bankruptcies 0 1 3 -100.0 -100.0 4 4 0.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Nova Scotia2410-50.0-80.01827-33.3
Bankruptcies249-50.0-77.81821-14.3
Proposals001n/a-100.006-100.0
New Brunswick 1 0 4 n/a -75.0 6 17 -64.7
Bankruptcies 0 0 4 n/a -100.0 4 10 -60.0
Proposals 1 0 0 n/a n/a 2 7 -71.4
Quebec246460-62.5-60.0220271-18.8
Bankruptcies133633-63.9-60.6133180-26.1
Proposals112827-60.7-59.38791-4.4
Ontario 49 107 108 -54.2 -54.6 363 393 -7.6
Bankruptcies 28 60 75 -53.3 -62.7 231 274 -15.7
Proposals 21 47 33 -55.3 -36.4 132 119 10.9
Manitoba739133.3-22.22027-25.9
Bankruptcies637100.0-14.31724-29.2
Proposals102n/a-50.0330.0
Saskatchewan 5 22 21 -77.3 -76.2 80 90 -11.1
Bankruptcies 3 19 10 -84.2 -70.0 60 48 25.0
Proposals 2 3 11 -33.3 -81.8 20 42 -52.4
Alberta151726-11.8-42.377121-36.4
Bankruptcies91518-40.0-50.05192-44.6
Proposals628200.0-25.02629-10.3
British Columbia 9 18 21 -50.0 -57.1 64 66 -3.0
Bankruptcies 5 7 16 -28.6 -68.8 38 51 -25.5
Proposals 4 11 5 -63.6 -20.0 26 15 73.3
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a00n/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
Nunavut000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Canada112238272-52.9-58.88661,041-16.8
Bankruptcies66147185-55.1-64.3567728-22.1
Proposals469187-49.5-47.1299313-4.5