Insolvency Statistics in Canada—November 2017

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.

NAICS: North American Industry Classification System.

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
November 2017 October 2017 November 2016 Oct. 2017
to
Nov. 2017
Nov. 2016
to
Nov. 2017
11-30-2017 11-30-2016 % Change
Newfoundland and Labrador 239 255 237 -6.3 0.8 2,519 2,379 5.9
Bankruptcies 135 127 163 6.3 -17.2 1,392 1,582 -12.0
Proposals 104 128 74 -18.8 40.5 1,127 797 41.4
Prince Edward Island 74 53 78 39.6 -5.1 687 830 -17.2
Bankruptcies 41 28 49 46.4 -16.3 404 515 -21.6
Proposals 33 25 29 32.0 13.8 283 315 -10.2
Nova Scotia 457 500 553 -8.6 -17.4 5,805 6,030 -3.7
Bankruptcies 283 309 402 -8.4 -29.6 3,860 4,269 -9.6
Proposals 174 191 151 -8.9 15.2 1,945 1,761 10.4
New Brunswick 369 373 398 -1.1 -7.3 4,400 4,481 -1.8
Bankruptcies 195 195 246 0.0 -20.7 2,537 2,933 -13.5
Proposals 174 178 152 -2.2 14.5 1,863 1,548 20.3
Quebec 3,946 3,852 3,860 2.4 2.2 43,826 45,385 -3.4
Bankruptcies 2,052 2,123 2,193 -3.3 -6.4 24,374 26,046 -6.4
Proposals 1,894 1,729 1,667 9.5 13.6 19,452 19,339 0.6
Ontario 3,444 3,349 3,554 2.8 -3.1 39,160 41,171 -4.9
Bankruptcies 1,307 1,394 1,532 -6.2 -14.7 15,998 18,011 -11.2
Proposals 2,137 1,955 2,022 9.3 5.7 23,162 23,160 0.0
Manitoba 233 290 224 -19.7 4.0 2,643 2,644 0.0
Bankruptcies 131 155 139 -15.5 -5.8 1,388 1,483 -6.4
Proposals 102 135 85 -24.4 20.0 1,255 1,161 8.1
Saskatchewan 265 306 267 -13.4 -0.7 3,273 3,034 7.9
Bankruptcies 116 143 127 -18.9 -8.7 1,478 1,513 -2.3
Proposals 149 163 140 -8.6 6.4 1,795 1,521 18.0
Alberta 1,145 1,216 1,171 -5.8 -2.2 13,499 13,177 2.4
Bankruptcies 418 461 477 -9.3 -12.4 5,191 5,520 -6.0
Proposals 727 755 694 -3.7 4.8 8,308 7,657 8.5
British Columbia 898 778 905 15.4 -0.8 10,098 11,204 -9.9
Bankruptcies 361 298 366 21.1 -1.4 4,308 4,942 -12.8
Proposals 537 480 539 11.9 -0.4 5,790 6,262 -7.5
Northwest Territories 13 9 5 44.4 160.0 80 63 27.0
Bankruptcies 9 8 4 12.5 125.0 53 34 55.9
Proposals 4 1 1 300.0 300.0 27 29 -6.9
Yukon 5 3 2 66.7 150.0 35 55 -36.4
Bankruptcies 0 3 1 -100.0 -100.0 17 27 -37.0
Proposals 5 0 1 n/a 400.0 18 28 -35.7
Nunavut 0 1 0 -100.0 n/a 1 10 -90.0
Bankruptcies 0 0 0 n/a n/a 0 4 -100.0
Proposals 0 1 0 -100.0 n/a 1 6 -83.3
Canada 11,088 10,985 11,254 0.9 -1.5 126,026 130,463 -3.4
Bankruptcies 5,048 5,244 5,699 -3.7 -11.4 61,000 66,879 -8.8
Proposals 6,040 5,741 5,555 5.2 8.7 65,026 63,584 2.3
Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
November 2017 October 2017 November 2016 Oct. 2017
to
Nov. 2017
Nov. 2016
to
Nov. 2017
11-30-2017 11-30-2016 % Change
Newfoundland and Labrador 232 252 230 -7.9 0.9 2,481 2,352 5.5
Bankruptcies 130 127 157 2.4 -17.2 1,367 1,562 -12.5
Proposals 102 125 73 -18.4 39.7 1,114 790 41.0
Prince Edward Island 74 53 78 39.6 -5.1 674 818 -17.6
Bankruptcies 41 28 49 46.4 -16.3 394 508 -22.4
Proposals 33 25 29 32.0 13.8 280 310 -9.7
Nova Scotia 454 496 548 -8.5 -17.2 5,753 5,955 -3.4
Bankruptcies 280 306 397 -8.5 -29.5 3,815 4,204 -9.3
Proposals 174 190 151 -8.4 15.2 1,938 1,751 10.7
New Brunswick 366 367 394 0.3 -7.1 4,350 4,415 -1.5
Bankruptcies 192 190 242 1.1 -20.7 2,494 2,880 -13.4
Proposals 174 177 152 -1.7 14.5 1,856 1,535 20.9
Quebec 3,768 3,664 3,658 2.8 3.0 41,768 43,146 -3.2
Bankruptcies 1,928 1,978 2,049 -2.5 -5.9 22,809 24,365 -6.4
Proposals 1,840 1,686 1,609 9.1 14.4 18,959 18,781 0.9
Ontario 3,374 3,264 3,487 3.4 -3.2 38,286 40,214 -4.8
Bankruptcies 1,261 1,327 1,490 -5.0 -15.4 15,356 17,308 -11.3
Proposals 2,113 1,937 1,997 9.1 5.8 22,930 22,906 0.1
Manitoba 227 289 220 -21.5 3.2 2,598 2,596 0.1
Bankruptcies 127 154 137 -17.5 -7.3 1,354 1,449 -6.6
Proposals 100 135 83 -25.9 20.5 1,244 1,147 8.5
Saskatchewan 250 289 258 -13.5 -3.1 3,137 2,923 7.3
Bankruptcies 103 129 121 -20.2 -14.9 1,374 1,427 -3.7
Proposals 147 160 137 -8.1 7.3 1,763 1,496 17.8
Alberta 1,125 1,199 1,145 -6.2 -1.7 13,306 13,013 2.3
Bankruptcies 403 450 465 -10.4 -13.3 5,059 5,401 -6.3
Proposals 722 749 680 -3.6 6.2 8,247 7,612 8.3
British Columbia 887 773 895 14.7 -0.9 9,944 11,014 -9.7
Bankruptcies 352 294 358 19.7 -1.7 4,178 4,798 -12.9
Proposals 535 479 537 11.7 -0.4 5,766 6,216 -7.2
Northwest Territories 13 9 5 44.4 160.0 79 63 25.4
Bankruptcies 9 8 4 12.5 125.0 52 34 52.9
Proposals 4 1 1 300.0 300.0 27 29 -6.9
Yukon 5 3 2 66.7 150.0 35 55 -36.4
Bankruptcies 0 3 1 -100.0 -100.0 17 27 -37.0
Proposals 5 0 1 n/a 400.0 18 28 -35.7
Nunavut 0 1 0 -100.0 n/a 1 9 -88.9
Bankruptcies 0 0 0 n/a n/a 0 3 -100.0
Proposals 0 1 0 -100.0 n/a 1 6 -83.3
Canada 10,775 10,659 10,920 1.0 -1.3 122,412 126,573 -3.3
Bankruptcies 4,826 4,994 5,470 -3.4 -11.8 58,269 63,966 -8.9
Proposals 5,949 5,665 5,450 5.0 9.2 64,143 62,607 2.5
Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
November 2017 October 2017 November 2016 Oct. 2017
to
Nov. 2017
Nov. 2016
to
Nov. 2017
11-30-2017 11-30-2016 % Change
Newfoundland and Labrador 7 3 7 133.3 0.0 38 27 40.7
Bankruptcies 5 0 6 n/a -16.7 25 20 25.0
Proposals 2 3 1 -33.3 100.0 13 7 85.7
Prince Edward Island 0 0 0 n/a n/a 13 12 8.3
Bankruptcies 0 0 0 n/a n/a 10 7 42.9
Proposals 0 0 0 n/a n/a 3 5 -40.0
Nova Scotia 3 4 5 -25.0 -40.0 52 75 -30.7
Bankruptcies 3 3 5 0 -40.0 45 65 -30.8
Proposals 0 1 0 -100.0 n/a 7 10 -30.0
New Brunswick 3 6 4 -50.0 -25.0 50 66 -24.2
Bankruptcies 3 5 4 -40.0 -25.0 43 53 -18.9
Proposals 0 1 0 -100.0 n/a 7 13 -46.2
Quebec 178 188 202 -5.3 -11.9 2,058 2,239 -8.1
Bankruptcies 124 145 144 -14.5 -13.9 1,565 1,681 -6.9
Proposals 54 43 58 25.6 -6.9 493 558 -11.6
Ontario 70 85 67 -17.6 4.5 874 957 -8.7
Bankruptcies 46 67 42 -31.3 9.5 642 703 -8.7
Proposals 24 18 25 33.3 -4.0 232 254 -8.7
Manitoba 6 1 4 500.0 50.0 45 48 -6.3
Bankruptcies 4 1 2 300.0 100.0 34 34 0.0
Proposals 2 0 2 n/a 0.0 11 14 -21.4
Saskatchewan 15 17 9 -11.8 66.7 136 111 22.5
Bankruptcies 13 14 6 -7.1 116.7 104 86 20.9
Proposals 2 3 3 -33.3 -33.3 32 25 28.0
Alberta 20 17 26 17.6 -23.1 193 164 17.7
Bankruptcies 15 11 12 36.4 25.0 132 119 10.9
Proposals 5 6 14 -16.7 -64.3 61 45 35.6
British Columbia 11 5 10 120.0 10.0 154 190 -18.9
Bankruptcies 9 4 8 125.0 12.5 130 144 -9.7
Proposals 2 1 2 100.0 0.0 24 46 -47.8
Northwest Territoires 0 0 0 n/a n/a 1 0 n/a
Bankruptcies 0 0 0 n/a n/a 1 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 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
Canada 313 326 334 -4.0 -6.3 3,614 3,890 -7.1
Bankruptcies 222 250 229 -11.2 -3.1 2,731 2,913 -6.2
Proposals 91 76 105 19.7 -13.3 883 977 -9.6
Table 4: Insolvencies by NAICS Economic Sectors, Canada
sector Volume % Change 12-Month Period Ending
November 2017 October 2017 November 2016 Oct. 2017
to
Nov. 2017
Nov. 2016
to
Nov. 2017
11-30-2017 11-30-2016 % Change
Agriculture, Forestry, Fishing and Hunting 9 1 11 800.0 -18.2 73 81 -9.9
Bankruptcies 3 1 7 200.0 -57.1 53 57 -7.0
Proposals 6 0 4 n/a 50.0 20 24 -16.7
Mining and Oil and Gas Extraction 6 4 6 50.0 0.0 56 63 -11.1
Bankruptcies 5 3 4 66.7 25.0 40 43 -7.0
Proposals 1 1 2 0.0 -50.0 16 20 -20.0
Utilities 0 1 1 -100.0 -100.0 8 7 14.3
Bankruptcies 0 1 1 -100.0 -100.0 6 2 200.0
Proposals 0 0 0 n/a n/a 2 5 -60.0
Construction 45 70 54 -35.7 -16.7 659 709 -7.1
Bankruptcies 28 50 35 -44.0 -20.0 480 522 -8.0
Proposals 17 20 19 -15.0 -10.5 179 187 -4.3
Manufacturing 36 31 29 16.1 24.1 331 315 5.1
Bankruptcies 20 26 17 -23.1 17.6 236 228 3.5
Proposals 16 5 12 220.0 33.3 95 87 9.2
Wholesale Trade 18 9 18 100.0 0.0 169 184 -8.2
Bankruptcies 11 6 13 83.3 -15.4 121 145 -16.6
Proposals 7 3 5 133.3 40.0 48 39 23.1
Retail Trade 29 37 37 -21.6 -21.6 400 466 -14.2
Bankruptcies 26 27 17 -3.7 52.9 314 336 -6.5
Proposals 3 10 20 -70.0 -85.0 86 130 -33.8
Transportation and Warehousing 16 17 19 -5.9 -15.8 235 214 9.8
Bankruptcies 12 13 13 -7.7 -7.7 184 166 10.8
Proposals 4 4 6 0.0 -33.3 51 48 6.3
Information and Cultural Industries 4 4 9 0.0 -55.6 67 68 -1.5
Bankruptcies 4 1 5 300.0 -20.0 47 57 -17.5
Proposals 0 3 4 -100.0 -100.0 20 11 81.8
Finance and Insurance 3 9 4 -66.7 -25.0 64 67 -4.5
Bankruptcies 1 7 4 -85.7 -75.0 51 55 -7.3
Proposals 2 2 0 0.0 n/a 13 12 8.3
Real Estate and Rental and Leasing 16 7 20 128.6 -20.0 137 159 -13.8
Bankruptcies 12 6 13 100.0 -7.7 99 105 -5.7
Proposals 4 1 7 300.0 -42.9 38 54 -29.6
Professional, Scientific and Technical Services 21 22 33 -4.5 -36.4 259 293 -11.6
Bankruptcies 16 18 25 -11.1 -36.0 207 220 -5.9
Proposals 5 4 8 25.0 -37.5 52 73 -28.8
Management of Companies and Enterprises 15 7 7 114.3 114.3 83 75 10.7
Bankruptcies 12 4 3 200.0 300.0 67 51 31.4
Proposals 3 3 4 0.0 -25.0 16 24 -33.3
Administrative and Support, Waste Management and Remediation Services 13 10 15 30.0 -13.3 162 186 -12.9
Bankruptcies 7 7 11 0.0 -36.4 117 139 -15.8
Proposals 6 3 4 100.0 50.0 45 47 -4.3
Educational Services 1 4 4 -75.0 -75.0 36 36 0.0
Bankruptcies 1 3 2 -66.7 -50.0 31 23 34.8
Proposals 0 1 2 -100.0 -100.0 5 13 -61.5
Health Care and Social Assistance 6 7 6 -14.3 0 75 69 8.7
Bankruptcies 5 7 6 -28.6 -16.7 60 50 20.0
Proposals 1 0 0 n/a n/a 15 19 -21.1
Arts, Entertainment and Recreation 9 9 5 0.0 80.0 77 78 -1.3
Bankruptcies 8 7 4 14.3 100.0 57 61 -6.6
Proposals 1 2 1 -50.0 0.0 20 17 17.6
Accommodation and Food Services 49 58 43 -15.5 14.0 538 646 -16.7
Bankruptcies 36 46 39 -21.7 -7.7 407 507 -19.7
Proposals 13 12 4 8.3 225.0 131 139 -5.8
Other Services (except Public Administration) 17 19 13 -10.5 30.8 180 170 5.9
Bankruptcies 15 17 10 -11.8 50.0 150 143 4.9
Proposals 2 2 3 0.0 -33.3 30 27 11.1
Public Administration 0 0 0 n/a n/a 5 4 25.0
Bankruptcies 0 0 0 n/a n/a 4 3 33.3
Proposals 0 0 0 n/a n/a 1 1 0.0
Total 313 326 334 -4.0 -6.3 3,614 3,890 -7.1
Bankruptcies 222 250 229 -11.2 -3.1 2,731 2,913 -6.2
Proposals 91 76 105 19.7 -13.3 883 977 -9.6
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