Insolvency Statistics in Canada—September 2020

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.

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

Table 1: Total Insolvencies
-Volume% Change12-Month Period Ending
Sept. 2020Aug. 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Newfoundland and Labrador 19112625551.6-25.12,1793,201-31.9
Bankruptcies735812525.9-41.69811,484-33.9
Proposals1186813073.5-9.21,1981,717-30.2
Prince Edward Island293244-9.4-34.1532741-28.2
Bankruptcies1312228.3-40.9266392-32.1
Proposals162022-20.0-27.3266349-23.8
Nova Scotia27724549213.1-43.74,2745,928-27.9
Bankruptcies12410424119.2-48.52,0133,336-39.7
Proposals1531412518.5-39.02,2612,592-12.8
New Brunswick29325144216.7-33.73,7314,874-23.5
Bankruptcies1221182093.4-41.61,6602,403-30.9
Proposals17113323328.6-26.62,0712,471-16.2
Quebec2,2871,8164,04025.9-43.433,03644,555-25.9
Bankruptcies1,0948921,95422.6-44.015,25021,885-30.3
Proposals1,1939242,08629.1-42.817,78622,670-21.5
Ontario2,7162,3703,93514.6-31.038,13544,190-13.7
Bankruptcies7316861,3066.6-44.011,15615,243-26.8
Proposals1,9851,6842,62917.9-24.526,97928,947-6.8
Manitoba23517827032.0-13.02,8133,133-10.2
Bankruptcies906112347.5-26.89341,449-35.5
Proposals14511714723.9-1.41,8791,68411.6
Saskatchewan2091912769.4-24.33,0003,450-13.0
Bankruptcies596297-4.8-39.21,1081,302-14.9
Proposals15012917916.3-16.21,8922,148-11.9
Alberta1,0428811,42518.3-26.914,26316,403-13.0
Bankruptcies28024547114.3-40.64,2415,616-24.5
Proposals76263695419.8-20.110,02210,787-7.1
British Columbia6025481,0019.9-39.99,21011,066-16.8
Bankruptcies20817135221.6-40.93,1514,135-23.8
Proposals3943776494.5-39.36,0596,931-12.6
Northwest Territories4450.0-20.05563-12.7
Bankruptcies022-100.0-100.01216-25.0
Proposals423100.033.34347-8.5
Yukon302n/a50.035342.9
Bankruptcies001n/a-100.01213-7.7
Proposals301n/a200.023219.5
Nunavut200n/an/a114175.0
Bankruptcies000n/an/a30n/a
Proposals200n/an/a84100.0
Canada7,8906,64212,18718.8-35.3111,274137,642-19.2
Bankruptcies2,7942,4114,90315.9-43.040,78757,274-28.8
Proposals5,0964,2317,28420.4-30.070,48780,368-12.3
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
Sept. 2020Aug. 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Newfoundland and Labrador18912525551.2-25.92,1613,160-31.6
Bankruptcies715712524.6-43.29681,447-33.1
Proposals1186813073.5-9.21,1931,713-30.4
Prince Edward Island293242-9.4-31.0527734-28.2
Bankruptcies1312218.3-38.1262386-32.1
Proposals162021-20.0-23.8265348-23.9
Nova Scotia27724548813.1-43.24,2455,875-27.7
Bankruptcies12410423919.2-48.11,9863,292-39.7
Proposals1531412498.5-38.62,2592,583-12.5
New Brunswick29225043816.8-33.33,7134,825-23.0
Bankruptcies1221172054.3-40.51,6472,366-30.4
Proposals17013323327.8-27.02,0662,459-16.0
Quebec2,1481,7153,90225.2-45.031,27642,424-26.3
Bankruptcies9778131,84820.2-47.113,91320,238-31.3
Proposals1,1719022,05429.8-43.017,36322,186-21.7
Ontario2,6642,3153,87015.1-31.237,35643,240-13.6
Bankruptcies6936441,2567.6-44.810,61014,552-27.1
Proposals1,9711,6712,61418.0-24.626,74628,688-6.8
Manitoba23017426732.2-13.92,7733,098-10.5
Bankruptcies855812046.6-29.29031,418-36.3
Proposals14511614725.0-1.41,8701,68011.3
Saskatchewan2041892657.9-23.02,9243,353-12.8
Bankruptcies566191-8.2-38.51,0501,246-15.7
Proposals14812817415.6-14.91,8742,107-11.1
Alberta1,0278731,41117.6-27.214,08716,181-12.9
Bankruptcies26823946112.1-41.94,1115,449-24.6
Proposals75963495019.7-20.19,97610,732-7.0
British Columbia5895429928.7-40.69,08910,934-16.9
Bankruptcies19716634518.7-42.93,0794,044-23.9
Proposals3923766474.3-39.46,0106,890-12.8
Northwest Territories4430.033.35561-9.8
Bankruptcies021-100.0-100.01215-20.0
Proposals422100.0100.04346-6.5
Yukon302n/a50.035342.9
Bankruptcies001n/a-100.01213-7.7
Proposals301n/a200.023219.5
Nunavut200n/an/a84100.0
Bankruptcies000n/an/a00n/a
Proposals200n/an/a84100.0
Canada7,6586,46411,93518.5-35.8108,249133,923-19.2
Bankruptcies2,6062,2734,71314.7-44.738,55354,466-29.2
Proposals5,0524,1917,22220.5-30.069,69679,457-12.3
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
Sept. 2020August 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Newfoundland and Labrador 210100.0n/a1841-56.1
Bankruptcies210100.0n/a1337-64.9
Proposals000n/an/a5425.0
Prince Edward Island002n/a-100.057-28.6
Bankruptcies001n/a-100.046-33.3
Proposals001n/a-100.0110.0
Nova Scotia004n/a-100.02953-45.3
Bankruptcies002n/a-100.02744-38.6
Proposals002n/a-100.029-77.8
New Brunswick1140.0-75.01849-63.3
Bankruptcies014-100.0-100.01337-64.9
Proposals100n/an/a512-58.3
Quebec13910113837.60.71,7602,131-17.4
Bankruptcies1177910648.110.41,3371,647-18.8
Proposals2222320.0-31.3423484-12.6
Ontario525565-5.5-20.0779950-18.0
Bankruptcies384250-9.5-24.0546691-21.0
Proposals1413157.7-6.7233259-10.0
Manitoba54325.066.7403514.3
Bankruptcies53366.766.731310.0
Proposals010-100.0n/a94125.0
Saskatchewan5211150.0-54.57697-21.6
Bankruptcies316200.0-50.058563.6
Proposals215100.0-60.01841-56.1
Alberta1581487.57.1176222-20.7
Bankruptcies12610100.020.0130167-22.2
Proposals32450.0-25.04655-16.4
British Columbia1369116.744.4121132-8.3
Bankruptcies1157120.057.17291-20.9
Proposals212100.00.0494119.5
Northwest Territories002n/a-100.002-100.0
Bankruptcies001n/a-100.001-100.0
Proposals001n/a-100.001-100.0
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a30n/a
Bankruptcies000n/an/a30n/a
Proposals000n/an/a00n/a
Canada23217825230.3-7.93,0253,719-18.7
Bankruptcies18813819036.2-1.12,2342,808-20.4
Proposals44406210.0-29.0791911-13.2
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
Sept. 2020August 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Newfoundland and Labrador 200n/an/a714-50.0
Bankruptcies200n/an/a510-50.0
Proposals000n/an/a24-50.0
Prince Edward Island002n/a-100.014-75.0
Bankruptcies001n/a-100.003-100.0
Proposals001n/a-100.0110.0
Nova Scotia002n/a-100.01727-37.0
Bankruptcies000n/an/a1520-25.0
Proposals002n/a-100.027-71.4
New Brunswick004n/a-100.01232-62.5
Bankruptcies004n/a-100.01026-61.5
Proposals000n/an/a26-66.7
Quebec1199112130.8-1.71,5491,864-16.9
Bankruptcies101729540.36.31,2091,469-17.7
Proposals181926-5.3-30.8340395-13.9
Ontario4240385.010.5487534-8.8
Bankruptcies3231313.23.2368397-7.3
Proposals109711.142.9119137-13.1
Manitoba1110.00.0161145.5
Bankruptcies1110.00.010100.0
Proposals000n/an/a61500.0
Saskatchewan012-100.0-100.010742.9
Bankruptcies001n/a-100.084100.0
Proposals011-100.0-100.023-33.3
Alberta54725.0-28.6102106-3.8
Bankruptcies4470.0-42.97582-8.5
Proposals100n/an/a272412.5
British Columbia106666.766.7726118.0
Bankruptcies95580.080.0453721.6
Proposals1110.00.0272412.5
Northwest Territories001n/a-100.001-100.0
Bankruptcies000n/an/a00n/a
Proposals001n/a-100.001-100.0
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut000n/an/a30n/a
Bankruptcies000n/an/a30n/a
Proposals000n/an/a00n/a
Canada17914318425.2-2.72,2762,661-14.5
Bankruptcies14911314531.92.81,7482,058-15.1
Proposals3030390.0-23.1528603-12.4
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
Sept. 2020Aug. 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Newfoundland and Labrador 010-100.0n/a1127-59.3
Bankruptcies010-100.0n/a827-70.4
Proposals000n/an/a30n/a
Prince Edward Island000n/an/a4333.3
Bankruptcies000n/an/a4333.3
Proposals000n/an/a00n/a
Nova Scotia002n/a-100.01226-53.8
Bankruptcies002n/a-100.01224-50.0
Proposals000n/an/a02-100.0
New Brunswick1100.0n/a617-64.7
Bankruptcies010-100.0n/a311-72.7
Proposals100n/an/a36-50.0
Quebec201017100.017.6211267-21.0
Bankruptcies16711128.645.5128178-28.1
Proposals43633.3-33.38389-6.7
Ontario101527-33.3-63.0292416-29.8
Bankruptcies61119-45.5-68.4178294-39.5
Proposals4480.0-50.0114122-6.6
Manitoba43233.3100.024240.0
Bankruptcies422100.0100.021210.0
Proposals010-100.0n/a330.0
Saskatchewan519400.0-44.46690-26.7
Bankruptcies315200.0-40.05052-3.8
Proposals204n/a-50.01638-57.9
Alberta1047150.042.974116-36.2
Bankruptcies823300.0166.75585-35.3
Proposals2240.0-50.01931-38.7
British Columbia303n/a0.04971-31.0
Bankruptcies202n/a0.02754-50.0
Proposals101n/a0.0221729.4
Northwest Territories001n/a-100.001-100.0
Bankruptcies001n/a-100.001-100.0
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
Canada53356851.4-22.17491,058-29.2
Bankruptcies39254556.0-13.3486750-35.2
Proposals14102340.0-39.1263308-14.6
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
-Volume% Change12-Month Period Ending
Sept. 2020August 2020Sept. 2019Aug. 2020
to
Sept. 2020
Sept. 2019
to
Sept. 2020
09-30-202009-30-2019% Change
Agriculture, Forestry, Fishing and Hunting 835166.760.064598.5
Bankruptcies632100.0200.0484214.3
Proposals203n/a-33.31617-5.9
Mining and Oil and Gas Extraction3330.00.02745-40.0
Bankruptcies231-33.3100.01629-44.8
Proposals102n/a-50.01116-31.3
Utilities012-100.0-100.058-37.5
Bankruptcies012-100.0-100.045-20.0
Proposals000n/an/a13-66.7
Construction23194721.1-51.1418712-41.3
Bankruptcies19163318.8-42.4299533-43.9
Proposals431433.3-71.4119179-33.5
Manufacturing 23131976.921.1280319-12.2
Bankruptcies18916100.012.5194236-17.8
Proposals54325.066.786833.6
Wholesale Trade15101350.015.4155179-13.4
Bankruptcies14710100.040.0117129-9.3
Proposals133-66.7-66.73850-24.0
Retail Trade272928-6.9-3.642537613.0
Bankruptcies2222230.0-4.33002951.7
Proposals575-28.60.01258154.3
Transportation and Warehousing17101570.013.3177213-16.9
Bankruptcies13101030.030.0138159-13.2
Proposals405n/a-20.03954-27.8
Information and Cultural Industries232-33.30.05381-34.6
Bankruptcies1120.0-50.04058-31.0
Proposals120-50.0n/a1323-43.5
Finance and Insurance 303n/a0.03574-52.7
Bankruptcies203n/a-33.32859-52.5
Proposals100n/an/a715-53.3
Real Estate and Rental and Leasing 751240.0-41.7135156-13.5
Bankruptcies74875.0-12.592115-20.0
Proposals014-100.0-100.043414.9
Professional, Scientific and Technical Services111430-21.4-63.3183299-38.8
Bankruptcies81321-38.5-61.9133236-43.6
Proposals319200.0-66.75063-20.6
Management of Companies and Enterprises118637.583.395941.1
Bankruptcies96550.080.07273-1.4
Proposals2210.0100.023219.5
Administrative and Support, Waste Management and Remediation Services17414325.021.4130172-24.4
Bankruptcies14411250.027.390118-23.7
Proposals303n/a0.04054-25.9
Educational Services 3320.050.035336.1
Bankruptcies2220.00.0272412.5
Proposals1100.0n/a89-11.1
Health Care and Social Assistance53866.7-37.56488-27.3
Bankruptcies515400.00.04852-7.7
Proposals023-100.0-100.01636-55.6
Arts, Entertainment and Recreation108525.0100.01107350.7
Bankruptcies86433.3100.0895853.4
Proposals2210.0100.0211540.0
Accommodation and Food Services333530-5.710.0459533-13.9
Bankruptcies28252712.03.7368429-14.2
Proposals5103-50.066.791104-12.5
Other Services (except Public Administration)127871.450.0172204-15.7
Bankruptcies95580.080.0129157-17.8
Proposals32350.00.04347-8.5
Public Administration 200n/an/a31200.0
Bankruptcies100n/an/a21100.0
Proposals100n/an/a10n/a
Total23217825230.3-7.93,0253,719-18.7
Bankruptcies18813819036.2-1.12,2342,808-20.4
Proposals44406210.0-29.0791911-13.2