Insolvency Statistics in Canada—March 2019

PDF Version

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.

Corporation: A commercial entity or organization.

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
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador2892712616.610.72,9032,60711.4
Bankruptcies118124123-4.8-4.11,4071,3663.0
Proposals17114713816.323.91,4961,24120.5
Prince Edward Island60548111.1-25.97146972.4
Bankruptcies30274011.1-25.0408416-1.9
Proposals30274111.1-26.83062818.9
Nova Scotia53339346635.614.45,7225,7090.2
Bankruptcies30221928437.96.33,5043,750-6.6
Proposals23117418232.826.92,2181,95913.2
New Brunswick41433739322.85.34,6694,3746.7
Bankruptcies22115220045.410.52,3652,396-1.3
Proposals1931851934.30.02,3041,97816.5
Quebec4,0943,7014,00810.62.143,70143,895-0.4
Bankruptcies1,8701,7701,9705.6-5.122,38223,858-6.2
Proposals2,2241,9312,03815.29.121,31920,0376.4
Ontario3,9273,2843,65819.67.440,69638,6845.2
Bankruptcies1,3071,0691,44122.3-9.315,15015,678-3.4
Proposals2,6202,2152,21718.318.225,54623,00611.0
Manitoba27722121525.328.82,9882,57416.1
Bankruptcies1229410829.813.01,4231,3634.4
Proposals15512710722.044.91,5651,21129.2
Saskatchewan31725431424.81.03,5593,2938.1
Bankruptcies1121031208.7-6.71,3701,437-4.7
Proposals20515119435.85.72,1891,85617.9
Alberta1,4551,3051,33611.58.915,29413,55412.8
Bankruptcies4914794452.510.35,2895,0185.4
Proposals96482689116.78.210,0058,53617.2
British Columbia95078989920.45.710,3759,9973.8
Bankruptcies35130535115.10.04,0894,173-2.0
Proposals59948454823.89.36,2865,8247.9
Northwest Territories6811-25.0-45.57194-24.5
Bankruptcies214100.0-50.03658-37.9
Proposals477-42.9-42.93536-2.8
Yukon123-50.0-66.73139-20.5
Bankruptcies012-100.0-100.01119-42.1
Proposals1110.00.020200.0
Nunavut2200.0n/a7475.0
Bankruptcies000n/an/a02-100.0
Proposals2200.0n/a72250.0
Canada12,32510,62111,64516.05.8130,730125,5214.1
Bankruptcies4,9264,3445,08813.4-3.257,43459,534-3.5
Proposals7,3996,2776,55717.912.873,29665,98711.1
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador2862662597.510.42,8732,57711.5
Bankruptcies115119121-3.4-5.01,3811,3432.8
Proposals17114713816.323.91,4921,23420.9
Prince Edward Island60548111.1-25.97116903.0
Bankruptcies30274011.1-25.0406411-1.2
Proposals30274111.1-26.83052799.3
Nova Scotia53038746237.014.75,6795,6530.5
Bankruptcies29921428239.76.03,4723,704-6.3
Proposals23117318033.528.32,2071,94913.2
New Brunswick40833539321.83.84,6244,3207.0
Bankruptcies21715120043.78.52,3292,356-1.1
Proposals1911841933.8-1.02,2951,96416.9
Quebec3,8823,4953,81411.11.841,59041,821-0.6
Bankruptcies1,7001,6051,8245.9-6.820,76222,270-6.8
Proposals2,1821,8901,99015.49.620,82819,5516.5
Ontario3,8313,2253,57218.87.339,75537,7955.2
Bankruptcies1,2341,0261,36820.3-9.814,46615,023-3.7
Proposals2,5972,1992,20418.117.825,28922,77211.1
Manitoba27622021425.529.02,9612,53916.6
Bankruptcies1219310730.113.11,3981,3344.8
Proposals15512710722.044.91,5631,20529.7
Saskatchewan31124630426.42.33,4643,1609.6
Bankruptcies1119811313.3-1.81,3141,336-1.6
Proposals20014819135.14.72,1501,82417.9
Alberta1,4301,2821,31211.59.015,07313,34712.9
Bankruptcies4734624292.410.35,1144,8834.7
Proposals95782088316.78.49,9598,46417.7
British Columbia94078189020.45.610,2699,8734.0
Bankruptcies34330234413.6-0.34,0154,078-1.5
Proposals59747954624.69.36,2545,7957.9
Northwest Territories6811-25.0-45.57193-23.7
Bankruptcies214100.0-50.03657-36.8
Proposals477-42.9-42.93536-2.8
Yukon123-50.0-66.73139-20.5
Bankruptcies012-100.0-100.01119-42.1
Proposals1110.00.020200.0
Nunavut2200.0n/a7475.0
Bankruptcies000n/an/a02-100.0
Proposals2200.0n/a72250.0
Canada11,96310,30311,31516.15.7127,108121,9114.3
Bankruptcies4,6454,0994,83413.3-3.954,70456,816-3.7
Proposals7,3186,2046,48118.012.972,40465,09511.2
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador352-40.050.030300.0
Bankruptcies352-40.050.0262313.0
Proposals000n/an/a47-42.9
Prince Edward Island000n/an/a37-57.1
Bankruptcies000n/an/a25-60.0
Proposals000n/an/a12-50.0
Nova Scotia364-50.0-25.04356-23.2
Bankruptcies352-40.050.03246-30.4
Proposals012-100.0-100.0111010.0
New Brunswick620200.0n/a4554-16.7
Bankruptcies410300.0n/a3640-10.0
Proposals210100.0n/a914-35.7
Quebec2122061942.99.32,1112,0741.8
Bankruptcies1701651463.016.41,6201,5882.0
Proposals4241482.4-12.54914861.0
Ontario96598662.711.69418895.8
Bankruptcies73437369.80.06846554.4
Proposals23161343.876.92572349.8
Manitoba1110.00.02735-22.9
Bankruptcies1110.00.02529-13.8
Proposals000n/an/a26-66.7
Saskatchewan6810-25.0-40.095133-28.6
Bankruptcies157-80.0-85.756101-44.6
Proposals53366.766.7393221.9
Alberta2523248.74.22212076.8
Bankruptcies1817165.912.517513529.6
Proposals76816.7-12.54672-36.1
British Columbia108925.011.1106124-14.5
Bankruptcies837166.714.37495-22.1
Proposals252-60.00.0322910.3
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
Canada36231833013.89.73,6223,6100.3
Bankruptcies28124525414.710.62,7302,7180.4
Proposals81737611.06.68928920.0
Table 3a: Insolvencies Filed by Corporations
ProvinceVolume% Change12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador011-100.0-100.01316-18.8
Bankruptcies011-100.0-100.0910-10.0
Proposals000n/an/a46-33.3
Prince Edward Island000n/an/a13-66.7
Bankruptcies000n/an/a110.0
Proposals000n/an/a02-100.0
Nova Scotia134-66.7-75.0222010.0
Bankruptcies122-50.0-50.0171421.4
Proposals012-100.0-100.056-16.7
New Brunswick310200.0n/a2234-35.3
Bankruptcies310200.0n/a2024-16.7
Proposals000n/an/a210-80.0
Quebec180183172-1.64.71,8341,854-1.1
Bankruptcies143153132-6.58.31,4281,432-0.3
Proposals37304023.3-7.5406422-3.8
Ontario55333966.741.055745622.1
Bankruptcies43243579.222.941334619.4
Proposals129433.3200.014411030.9
Manitoba000n/an/a49-55.6
Bankruptcies000n/an/a37-57.1
Proposals000n/an/a12-50.0
Saskatchewan002n/a-100.0611-45.5
Bankruptcies001n/a-100.047-42.9
Proposals001n/a-100.024-50.0
Alberta111412-21.4-8.399127-22.0
Bankruptcies798-22.2-12.577752.7
Proposals454-20.00.02252-57.7
British Columbia64250.0200.04560-25.0
Bankruptcies510400.0n/a2739-30.8
Proposals132-66.7-50.01821-14.3
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
Canada2562392327.110.32,6032,5910.5
Bankruptcies2021911795.812.81,9991,9562.2
Proposals54485312.51.9604635-4.9
Table 3b: Insolvencies Filed by Individual Businesses
ProvinceVolume% Change12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Newfoundland and Labrador341-25.0200.0171421.4
Bankruptcies341-25.0200.0171330.8
Proposals000n/an/a01-100.0
Prince Edward Island000n/an/a24-50.0
Bankruptcies000n/an/a14-75.0
Proposals000n/an/a10n/a
Nova Scotia230-33.3n/a2136-41.7
Bankruptcies230-33.3n/a1532-53.1
Proposals000n/an/a6450.0
New Brunswick310200.0n/a232015.0
Bankruptcies100n/an/a16160.0
Proposals210100.0n/a7475.0
Quebec32232239.145.527722025.9
Bankruptcies271214125.092.919215623.1
Proposals5118-54.5-37.5856432.8
Ontario41264757.7-12.8384433-11.3
Bankruptcies30193857.9-21.1271309-12.3
Proposals117957.122.2113124-8.9
Manitoba1110.00.02326-11.5
Bankruptcies1110.00.022220.0
Proposals000n/an/a14-75.0
Saskatchewan688-25.0-25.089122-27.0
Bankruptcies156-80.0-83.35294-44.7
Proposals53266.7150.0372832.1
Alberta1491255.616.71228052.5
Bankruptcies118837.537.5986063.3
Proposals314200.0-25.0242020.0
British Columbia4470.0-42.96164-4.7
Bankruptcies32750.0-57.14756-16.1
Proposals120-50.0n/a14875.0
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
Canada106799834.28.21,0191,0190.0
Bankruptcies79547546.35.3731762-4.1
Proposals2725238.017.428825712.1
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
March
2019
February
2019
March
2018
Feb. 2019
to
March 2019
March 2018
to
March 2019
03-31-201903-31-2018% Change
Agriculture, Forestry, Fishing and Hunting734133.375.071667.6
Bankruptcies53466.725.052496.1
Proposals200n/an/a191711.8
Mining and Oil and Gas Extraction722250.0250.03444-22.7
Bankruptcies711600.0600.02328-17.9
Proposals011-100.0-100.01116-31.3
Utilities000n/an/a48-50.0
Bankruptcies000n/an/a27-71.4
Proposals000n/an/a21100.0
Construction73596523.712.37056902.2
Bankruptcies61484927.124.55315016.0
Proposals1211169.1-25.0174189-7.9
Manufacturing31242529.224.0309321-3.7
Bankruptcies21172223.5-4.52232220.5
Proposals107342.9233.38699-13.1
Wholesale Trade2422139.184.61751674.8
Bankruptcies161680.0100.01311245.6
Proposals86533.360.044432.3
Retail Trade293643-19.4-32.6393398-1.3
Bankruptcies223135-29.0-37.1311319-2.5
Proposals75840.0-12.582793.8
Transportation and Warehousing242720-11.120.024421911.4
Bankruptcies161915-15.86.71841774.0
Proposals8850.060.0604242.9
Information and Cultural Industries8105-20.060.0685915.3
Bankruptcies87514.360.050500.0
Proposals030-100.0n/a189100.0
Finance and Insurance87514.360.067661.5
Bankruptcies65520.020.05051-2.0
Proposals2200.0n/a171513.3
Real Estate and Rental and Leasing13612116.78.31501444.2
Bankruptcies1047150.042.9107110-2.7
Proposals32550.0-40.0433426.5
Professional, Scientific and Technical Services232819-17.921.12602590.4
Bankruptcies192114-9.535.7196197-0.5
Proposals475-42.9-20.064623.2
Management of Companies and Enterprises1057100.042.98286-4.7
Bankruptcies74575.040.067653.1
Proposals312200.050.01521-28.6
Administrative and Support, Waste Management and Remediation Services131615-18.8-13.31581468.2
Bankruptcies91113-18.2-30.8103110-6.4
Proposals452-20.0100.0553652.8
Educational Services4410.0300.0312240.9
Bankruptcies3310.0200.0231643.8
Proposals1100.0n/a8633.3
Health Care and Social Assistance12181,100.050.081810.0
Bankruptcies11151,000.0120.05458-6.9
Proposals103n/a-66.7272317.4
Arts, Entertainment and Recreation76616.716.76486-25.6
Bankruptcies454-20.00.05065-23.1
Proposals312200.050.01421-33.3
Accommodation and Food Services53476412.8-17.2530557-4.8
Bankruptcies44384715.8-6.44244074.2
Proposals99170.0-47.1106150-29.3
Other Services (except Public Administration)1615166.70.01931863.8
Bankruptcies1211149.1-14.3147158-7.0
Proposals4420.0100.0462864.3
Public Administration000n/an/a35-40.0
Bankruptcies000n/an/a24-50.0
Proposals000n/an/a110.0
Total36231833013.89.73,6223,6100.3
Bankruptcies28124525414.710.62,7302,7180.4
Proposals81737611.06.68928920.0