Insolvency statistics in Canada—First 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
Q1 2020Q4 2019Q1 2019Q4 2019 to Q1 2020Q1 2019 to Q1 202003-31-202003-31-2019% Change
Newfoundland and Labrador624768772-18.8-19.23,1142,9037.3
Bankruptcies270360326-25.0-17.21,4451,4072.7
Proposals354408446-13.2-20.61,6691,49611.6
Prince Edward Island139207171-32.9-18.77277141.8
Bankruptcies8110692-23.6-12.0384408-5.9
Proposals5810179-42.6-26.634330612.1
Nova Scotia1,2771,5641,395-18.4-8.55,9815,7224.5
Bankruptcies593760787-22.0-24.73,0503,504-13.0
Proposals684804608-14.912.52,9312,21832.1
New Brunswick1,1501,2071,099-4.74.64,9474,6696.0
Bankruptcies456573529-20.4-13.82,3042,365-2.6
Proposals6946345709.521.82,6432,30414.7
Quebec10,86111,38411,171-4.6-2.844,68143,7012.2
Bankruptcies4,6275,4235,279-14.7-12.421,00622,382-6.1
Proposals6,2345,9615,8924.65.823,67521,31911.1
Ontario11,39611,79310,410-3.49.546,74040,69614.9
Bankruptcies3,2803,7503,440-12.5-4.715,06915,150-0.5
Proposals8,1168,0436,9700.916.431,67125,54624.0
Manitoba803846716-5.112.23,2722,9889.5
Bankruptcies234310302-24.5-22.51,3091,423-8.0
Proposals5695364146.237.41,9631,56525.4
Saskatchewan8611,008860-14.60.13,5583,5590.0
Bankruptcies321425334-24.5-3.91,3681,370-0.1
Proposals540583526-7.42.72,1902,1890.0
Alberta4,3454,3433,9960.08.717,24715,29412.8
Bankruptcies1,2481,4071,429-11.3-12.75,5635,2895.2
Proposals3,0972,9362,5675.520.611,68410,00516.8
British Columbia2,6352,9112,594-9.51.611,38910,3759.8
Bankruptcies9611,0551,006-8.9-4.54,1794,0892.2
Proposals1,6741,8561,588-9.85.47,2106,28614.7
Northwest Territories151617-6.3-11.86671-7.0
Bankruptcies523150.066.71236-66.7
Proposals101414-28.6-28.6543554.3
Yukon4116-63.6-33.331310.0
Bankruptcies252-60.00.0131118.2
Proposals264-66.7-50.01820-10.0
Nunavut044-100.0-100.047-42.9
Bankruptcies020-100.0n/a20n/a
Proposals024-100.0-100.027-71.4
Canada34,11036,06233,211-5.42.7141,757130,7308.4
Bankruptcies12,07814,17813,529-14.8-10.755,70457,434-3.0
Proposals22,03221,88419,6820.711.986,05373,29617.4
Table 2: Insolvencies Filed by Consumers
-Volume% Change12-Month Period Ending
Q1 2020Q4 2019Q1 2019Q4 2019 to Q1 2020Q1 2019 to Q1 202003-31-202003-31-2019% Change
Newfoundland and Labrador622758762-17.9-18.43,0812,8737.2
Bankruptcies268355316-24.5-15.21,4181,3812.7
Proposals354403446-12.2-20.61,6631,49211.5
Prince Edward Island138204171-32.4-19.37167110.7
Bankruptcies8010392-22.3-13.0374406-7.9
Proposals5810179-42.6-26.634230512.1
Nova Scotia1,2651,5501,383-18.4-8.55,9225,6794.3
Bankruptcies583746776-21.8-24.93,0003,472-13.6
Proposals682804607-15.212.42,9222,20732.4
New Brunswick1,1471,2021,086-4.65.64,9124,6246.2
Bankruptcies453569520-20.4-12.92,2762,329-2.3
Proposals6946335669.622.62,6362,29514.9
Quebec10,33510,84010,597-4.7-2.542,60341,5902.4
Bankruptcies4,2425,0264,816-15.6-11.919,46420,762-6.3
Proposals6,0935,8145,7814.85.423,13920,82811.1
Ontario11,17411,58810,171-3.69.945,85539,75515.3
Bankruptcies3,1353,6123,264-13.2-4.014,44814,466-0.1
Proposals8,0397,9766,9070.816.431,40725,28924.2
Manitoba794837709-5.112.03,2312,9619.1
Bankruptcies230303295-24.1-22.01,2791,398-8.5
Proposals5645344145.636.21,9521,56324.9
Saskatchewan835973837-14.2-0.23,4513,464-0.4
Bankruptcies298399322-25.3-7.51,2931,314-1.6
Proposals537574515-6.44.32,1582,1500.4
Alberta4,2964,2863,9340.29.217,03715,07313.0
Bankruptcies1,2061,3691,385-11.9-12.95,4105,1145.8
Proposals3,0902,9172,5495.921.211,6279,95916.7
British Columbia2,6022,8882,562-9.91.611,26110,2699.7
Bankruptcies9461,039985-9.0-4.04,0954,0152.0
Proposals1,6561,8491,577-10.45.07,1666,25414.6
Northwest Territories151617-6.3-11.86471-9.9
Bankruptcies523150.066.71136-69.4
Proposals101414-28.6-28.6533551.4
Yukon4116-63.6-33.331310.0
Bankruptcies252-60.00.0131118.2
Proposals264-66.7-50.01820-10.0
Nunavut024-100.0-100.027-71.4
Bankruptcies000n/an/a00n/a
Proposals024-100.0-100.027-71.4
Canada33,22735,15532,239-5.53.1138,166127,1088.7
Bankruptcies11,44813,52812,776-15.4-10.453,08154,704-3.0
Proposals21,77921,62719,4630.711.985,08572,40417.5
Table 3: Insolvencies Filed by Businesses
-Volume% Change12-Month Period Ending
Q1 2020Q4 2019Q1 2019Q4 2019 to Q1 2020Q1 2019 to Q1 202003-31-202003-31-2019% Change
Newfoundland and Labrador21010-80.0-80.0333010.0
Bankruptcies2510-60.0-80.027263.8
Proposals050-100.0n/a6450.0
Prince Edward Island130-66.7n/a113266.7
Bankruptcies130-66.7n/a102400.0
Proposals000n/an/a110.0
Nova Scotia121412-14.30.0594337.2
Bankruptcies101411-28.6-9.1503256.3
Proposals201n/a100.0911-18.2
New Brunswick3513-40.0-76.93545-22.2
Bankruptcies349-25.0-66.72836-22.2
Proposals014-100.0-100.079-22.2
Quebec526544574-3.3-8.42,0782,111-1.6
Bankruptcies385397463-3.0-16.81,5421,620-4.8
Proposals141147111-4.127.05364919.2
Ontario2222052398.3-7.1885941-6.0
Bankruptcies1451381765.1-17.6621684-9.2
Proposals77676314.922.22642572.7
Manitoba9970.028.6412751.9
Bankruptcies477-42.9-42.9302520.0
Proposals520150.0n/a112450.0
Saskatchewan263523-25.713.01079512.6
Bankruptcies232612-11.591.7755633.9
Proposals3911-66.7-72.73239-17.9
Alberta495762-14.0-21.0210221-5.0
Bankruptcies42384410.5-4.5153175-12.6
Proposals71918-63.2-61.1574623.9
British Columbia33233243.53.112810620.8
Bankruptcies151621-6.3-28.6847413.5
Proposals18711157.163.6443237.5
Northwest Territories000n/an/a20n/a
Bankruptcies000n/an/a10n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut020-100.0n/a20n/a
Bankruptcies020-100.0n/a20n/a
Proposals000n/an/a00n/a
Canada883907972-2.6-9.23,5913,622-0.9
Bankruptcies630650753-3.1-16.32,6232,730-3.9
Proposals253257219-1.615.59688928.5
Table 3a: Insolvencies Filed by Corporations
-Volume% Change12-Month Period Ending
Q1 2020Q4 2019Q1 2019Q4 2019 to Q1 2020Q1 2019 to Q1 202003-31-202003-31-2019% Change
Newfoundland and Labrador043-100.033.31013-23.1
Bankruptcies023-100.0-33.379-22.2
Proposals020-100.0n/a34-25.0
Prince Edward Island000n/an/a41300.0
Bankruptcies000n/an/a31200.0
Proposals000n/an/a10n/a
Nova Scotia8860.033.3332250.0
Bankruptcies685-25.060.0251747.1
Proposals201n/a-100.08560.0
New Brunswick3360.0-50.0262218.2
Bankruptcies32650.0-66.720200.0
Proposals010-100.0n/a62200.0
Quebec462464502-0.4-7.61,8221,834-0.7
Bankruptcies349351413-0.6-15.01,3891,428-2.7
Proposals113113890.027.04334066.7
Ontario1151081406.5-22.9463557-16.9
Bankruptcies857410414.9-28.8343413-16.9
Proposals303436-11.8-5.6120144-16.7
Manitoba630100.0n/a194375.0
Bankruptcies120-50.0n/a123300.0
Proposals510400.0n/a71600.0
Saskatchewan421100.0100.011683.3
Bankruptcies421100.0100.084100.0
Proposals000n/an/a3250.0
Alberta323527-8.629.61229923.2
Bankruptcies27231717.435.3937720.8
Proposals51210-58.320.0292231.8
British Columbia15717114.3-58.8524515.6
Bankruptcies86933.3-33.3352729.6
Proposals718600.0-87.51718-5.6
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a10n/a
Yukon000n/an/a00n/a
Bankruptcies000n/an/a00n/a
Proposals000n/an/a00n/a
Nunavut020-100.0n/a20n/a
Bankruptcies020-100.0n/a20n/a
Proposals000n/an/a00n/a
Canada6456367021.4-9.42,5652,603-1.5
Bankruptcies4834725582.3-15.41,9371,999-3.1
Proposals162164144-1.213.96286044.0
Table 3b: Insolvencies Filed by Individual Businesses
-Volume% Change12-Month Period Ending
Q1 2020Q4 2019Q1 2019Q4 2019 to Q1 2020Q1 2019 to Q1 202003-31-202003-31-2019% Change
Newfoundland and Labrador267-66.7-14.3231735.3
Bankruptcies237-33.3-57.1201717.6
Proposals030-100.0n/a30n/a
Prince Edward Island130-66.7n/a72250.0
Bankruptcies130-66.7n/a71600.0
Proposals000n/an/a01-100.0
Nova Scotia466-33.30.0262123.8
Bankruptcies466-33.30.0251566.7
Proposals000n/an/a16-83.3
New Brunswick027-100.0-71.4923-60.9
Bankruptcies023-100.0-33.3816-50.0
Proposals004n/a-100.017-85.7
Quebec648072-20.011.1256277-7.6
Bankruptcies364650-21.7-8.0153192-20.3
Proposals283422-17.654.51038521.2
Ontario107979910.3-2.04223849.9
Bankruptcies606472-6.3-11.12782712.6
Proposals47332742.422.214411327.4
Manitoba367-50.0-14.32223-4.3
Bankruptcies357-40.0-28.61822-18.2
Proposals010-100.0n/a41300.0
Saskatchewan223322-33.350.096897.9
Bankruptcies192411-20.8118.2675228.8
Proposals3911-66.7-18.22937-21.6
Alberta172235-22.7-37.188122-27.9
Bankruptcies1515270.0-44.46098-38.8
Proposals278-71.4-12.5282416.7
British Columbia18161512.56.7766124.6
Bankruptcies71012-30.0-16.749474.3
Proposals116383.3100.0271492.9
Northwest Territories000n/an/a10n/a
Bankruptcies000n/an/a10n/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
Canada238271270-12.20.41,0261,0190.7
Bankruptcies147178195-17.4-8.7686731-6.2
Proposals919375-2.224.034028818.1