Insolvency statistics in Canada—Third Quarter 2021

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 2021Q2 2021Q3 2020Q2 2021 to Q3 2021Q3 2020 to Q3 202109-30-202109-30-2020% Change
Newfoundland and Labrador371517443-28.2-16.31,8152,179-16.7
Bankruptcies133202181-34.2-26.5663981-32.4
Proposals238315262-24.4-9.21,1521,198-3.8
Prince Edward Island809595-15.8-15.8382532-28.2
Bankruptcies334939-32.7-15.4169266-36.5
Proposals4746562.2-16.1213266-19.9
Nova Scotia705802751-12.1-6.13,1344,274-26.7
Bankruptcies298340349-12.4-14.61,3582,013-32.5
Proposals407462402-11.91.21,7762,261-21.5
New Brunswick691839766-17.6-9.83,1983,731-14.3
Bankruptcies282368351-23.4-19.71,4151,660-14.8
Proposals409471415-13.2-1.41,7832,071-13.9
Quebec5,9866,1565,910-2.81.325,57133,036-22.6
Bankruptcies2,7022,8622,855-5.6-5.411,71115,250-23.2
Proposals3,2843,2943,055-0.37.513,86017,786-22.1
Ontario7,2257,7037,634-6.2-5.431,48538,135-17.4
Bankruptcies1,8182,1882,109-16.9-13.88,36411,156-25.0
Proposals5,4075,5155,525-2.0-2.123,12126,979-14.3
Manitoba614645567-4.88.32,4752,813-12.0
Bankruptcies200210209-4.8-4.3792934-15.2
Proposals414435358-4.815.61,6831,879-10.4
Saskatchewan609693560-12.18.82,7513,000-8.3
Bankruptcies172195173-11.8-0.68311,108-25.0
Proposals437498387-12.212.91,9201,8921.5
Alberta3,2683,7062,812-11.816.213,96714,263-2.1
Bankruptcies598769823-22.2-27.33,0584,241-27.9
Proposals2,6702,9371,989-9.134.210,90910,0228.9
British Columbia2,0782,3161,774-10.317.18,7339,210-5.2
Bankruptcies502612575-18.0-12.72,3333,151-26.0
Proposals1,5761,7041,199-7.531.46,4006,0595.6
Northwest Territories91615-43.8-40.04555-18.2
Bankruptcies032-100.0-100.0512-58.3
Proposals91313-30.8-30.84043-7.0
Yukon97428.6125.035350.0
Bankruptcies130-66.7n/a1112-8.3
Proposals844100.0100.024234.3
Nunavut424100.00.0141127.3
Bankruptcies101n/a0.013-66.7
Proposals32350.00.013862.5
Canada21,64923,49721,335-7.91.593,605111,274-15.9
Bankruptcies6,7407,8017,667-13.6-12.130,71140,787-24.7
Proposals14,90915,69613,668-5.09.162,89470,487-10.8
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
Q3 2021Q2 2021Q3 2020Q2 2021 to Q3 2021Q3 2020 to Q3 202109-30-202109-30-2020% Change
Newfoundland and Labrador368513438-28.3-16.01,8042,161-16.5
Bankruptcies130198176-34.3-26.1652968-32.6
Proposals238315262-24.4-9.21,1521,193-3.4
Prince Edward Island789595-17.9-17.9380527-27.9
Bankruptcies324939-34.7-17.9168262-35.9
Proposals4646560.0-17.9212265-20.0
Nova Scotia704800750-12.0-6.13,1204,245-26.5
Bankruptcies297339348-12.4-14.71,3461,986-32.2
Proposals407461402-11.71.21,7742,259-21.5
New Brunswick688835761-17.6-9.63,1793,713-14.4
Bankruptcies279364348-23.4-19.81,4011,647-14.9
Proposals409471413-13.2-1.01,7782,066-13.9
Quebec5,6915,7795,542-1.52.724,13331,276-22.8
Bankruptcies2,4562,5482,553-3.6-3.810,52113,913-24.4
Proposals3,2353,2312,9890.18.213,61217,363-21.6
Ontario7,0657,5657,461-6.6-5.330,87237,356-17.4
Bankruptcies1,7042,0851,980-18.3-13.97,92610,610-25.3
Proposals5,3615,4805,481-2.2-2.222,94626,746-14.2
Manitoba603638557-5.58.32,4452,773-11.8
Bankruptcies191204200-6.4-4.5767903-15.1
Proposals412434357-5.115.41,6781,870-10.3
Saskatchewan602681552-11.69.12,7062,924-7.5
Bankruptcies168188168-10.60.07951,050-24.3
Proposals434493384-12.013.01,9111,8742.0
Alberta3,2343,6602,779-11.616.413,81414,087-1.9
Bankruptcies577741795-22.1-27.42,9594,111-28.0
Proposals2,6572,9191,984-9.033.910,8559,9768.8
British Columbia2,0582,2981,750-10.417.68,6439,089-4.9
Bankruptcies488603555-19.1-12.12,2723,079-26.2
Proposals1,5701,6951,195-7.431.46,3716,0106.0
Northwest Territories91615-43.8-40.04555-18.2
Bankruptcies032-100.0-100.0512-58.3
Proposals91313-30.8-30.84043-7.0
Yukon97428.6125.035350.0
Bankruptcies130-66.7n/a1112-8.3
Proposals844100.0100.024234.3
Nunavut423100.033.314875.0
Bankruptcies100n/an/a10n/a
Proposals32350.00.013862.5
Canada21,11322,88920,707-7.82.091,190108,249-15.8
Bankruptcies6,3247,3257,164-13.7-11.728,82438,553-25.2
Proposals14,78915,56413,543-5.09.262,36669,696-10.5
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
Q3 2021Q2 2021Q3 2020Q2 2021 to Q3 2021Q3 2020 to Q3 202109-30-202109-30-2020% Change
Newfoundland and Labrador345-25.0-40.01118-38.9
Bankruptcies345-25.0-40.01113-15.4
Proposals000n/an/a05-100.0
Prince Edward Island200n/an/a25-60.0
Bankruptcies100n/an/a14-75.0
Proposals100n/an/a110.0
Nova Scotia121-50.00.01429-51.7
Bankruptcies1110.00.01227-55.6
Proposals010-100.0n/a220.0
New Brunswick345-25.0-40.019185.6
Bankruptcies343-25.00.014137.7
Proposals002n/a-100.0550.0
Quebec295377368-21.8-19.81,4381,760-18.3
Bankruptcies246314302-21.7-18.51,1901,337-11.0
Proposals496366-22.2-25.8248423-41.4
Ontario16013817315.9-7.5613779-21.3
Bankruptcies11410312910.7-11.6438546-19.8
Proposals46354431.44.5175233-24.9
Manitoba1171057.110.03040-25.0
Bankruptcies96950.00.02531-19.4
Proposals211100.0100.059-44.4
Saskatchewan7128-41.7-12.54576-40.8
Bankruptcies475-42.9-20.03658-37.9
Proposals353-40.00.0918-50.0
Alberta344633-26.13.0153176-13.1
Bankruptcies212828-25.0-25.099130-23.8
Proposals13185-27.8160.0544617.4
British Columbia20182411.1-16.790121-25.6
Bankruptcies1492055.6-30.06172-15.3
Proposals694-33.350.02949-40.8
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut001n/a-100.003-100.0
Bankruptcies001n/a-100.003-100.0
Proposals000n/an/a00n/a
Canada536608628-11.8-14.62,4153,025-20.2
Bankruptcies416476503-12.6-17.31,8872,234-15.5
Proposals120132125-9.1-4.0528791-33.2
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
Q3 2021Q2 2021Q3 2020Q2 2021 to Q3 2021Q3 2020 to Q3 202109-30-202109-30-2020% Change
Newfoundland and Labrador122-50.0-50.047-42.9
Bankruptcies122-50.0-50.045-20.0
Proposals000n/an/a02-100.0
Prince Edward Island100n/an/a110.0
Bankruptcies100n/an/a10n/a
Proposals000n/an/a01-100.0
Nova Scotia011-100.0-100.0717-58.8
Bankruptcies001n/a-100.0615-60.0
Proposals010-100.0n/a12-50.0
New Brunswick132-66.7-50.01012-16.7
Bankruptcies132-66.7-50.0810-20.0
Proposals000n/an/a220.0
Quebec256332325-22.9-21.21,2491,549-19.4
Bankruptcies223283269-21.2-17.11,0701,209-11.5
Proposals334956-32.7-41.1179340-47.4
Ontario1179713420.6-12.7415487-14.8
Bankruptcies957710323.4-7.8331368-10.1
Proposals22203110.0-29.084119-29.4
Manitoba74275.0250.01416-12.5
Bankruptcies54225.0150.0111010.0
Proposals200n/an/a36-50.0
Saskatchewan062-100.0-100.02010100.0
Bankruptcies031-100.0-100.0178112.5
Proposals031-100.0-100.03250.0
Alberta202813-28.653.895102-6.9
Bankruptcies141812-22.216.76875-9.3
Proposals6101-40.0500.027270.0
British Columbia88180.0-55.65172-29.2
Bankruptcies8315166.7-46.73645-20.0
Proposals053-100.0-100.01527-44.4
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut001n/a-100.003-100.0
Bankruptcies001n/a-100.003-100.0
Proposals000n/an/a00n/a
Canada411481500-14.6-17.81,8662,276-18.0
Bankruptcies348393408-11.5-14.71,5521,748-11.2
Proposals638892-28.4-31.5314528-40.5
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
Q3 2021Q2 2021Q3 2020Q2 2021 to Q3 2021Q3 2020 to Q3 202109-30-202109-30-2020% Change
Newfoundland and Labrador2230.0-33.3711-36.4
Bankruptcies2230.0-33.378-12.5
Proposals000n/an/a03-100.0
Prince Edward Island100n/an/a14-75.0
Bankruptcies000n/an/a04-100.0
Proposals100n/an/a10n/a
Nova Scotia1100.0n/a712-41.7
Bankruptcies1100.0n/a612-50.0
Proposals000n/an/a10n/a
New Brunswick213100.0-33.39650.0
Bankruptcies211100.0100.063100.0
Proposals002n/a-100.0330.0
Quebec394543-13.3-9.3189211-10.4
Bankruptcies233133-25.8-30.3120128-6.3
Proposals16141014.360.06983-16.9
Ontario4341394.910.3198292-32.2
Bankruptcies192626-26.9-26.9107178-39.9
Proposals24151360.084.691114-20.2
Manitoba43833.3-50.01624-33.3
Bankruptcies427100.0-42.91421-33.3
Proposals011-100.0-100.023-33.3
Saskatchewan76616.716.72566-62.1
Bankruptcies4440.00.01950-62.0
Proposals32250.050.0616-62.5
Alberta141820-22.2-30.05874-21.6
Bankruptcies71016-30.0-56.33155-43.6
Proposals784-12.575.0271942.1
British Columbia1210620.0100.03949-20.4
Bankruptcies6650.020.02527-7.4
Proposals64150.0500.01422-36.4
Northwest Territories000n/an/a00n/a
Bankruptcies000n/an/a00n/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
Canada125127128-1.6-2.3549749-26.7
Bankruptcies688395-18.1-28.4335486-31.1
Proposals57443329.572.7214263-18.6