Insolvency statistics in Canada—First quarter of 2021

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 % Change 12-Month Period Ending
Q1 2021 Q4 2020 Q1 2020 Q4 2020 to
Q1 2021
Q1 2020 to
Q1 2021
03-31-2021 03-31-2020 % Change
Newfoundland and Labrador 455 472 624 -3.6 -27.1 1,714 3,114 -45.0
Bankruptcies 171 157 270 8.9 -36.7 679 1,445 -53.0
Proposals 284 315 354 -9.8 -19.8 1,035 1,669 -38.0
Prince Edward Island 104 103 139 1.0 -25.2 393 727 -45.9
Bankruptcies 43 44 81 -2.3 -46.9 166 384 -56.8
Proposals 61 59 58 3.4 5.2 227 343 -33.8
Nova Scotia 820 807 1,277 1.6 -35.8 3,060 5,981 -48.8
Bankruptcies 358 362 593 -1.1 -39.6 1,380 3,050 -54.8
Proposals 462 445 684 3.8 -32.5 1,680 2,931 -42.7
New Brunswick 803 865 1,150 -7.2 -30.2 3,042 4,947 -38.5
Bankruptcies 350 415 456 -15.7 -23.2 1,396 2,304 -39.4
Proposals 453 450 694 0.7 -34.7 1,646 2,643 -37.7
Quebec 6,799 6,630 10,861 2.5 -37.4 24,220 44,681 -45.8
Bankruptcies 3,002 3,145 4,627 -4.5 -35.1 11,347 21,006 -46.0
Proposals 3,797 3,485 6,234 9.0 -39.1 12,873 23,675 -45.6
Ontario 8,148 8,409 11,396 -3.1 -28.5 31,503 46,740 -32.6
Bankruptcies 2,015 2,343 3,280 -14.0 -38.6 8,484 15,069 -43.7
Proposals 6,133 6,066 8,116 1.1 -24.4 23,019 31,671 -27.3
Manitoba 621 595 803 4.4 -22.7 2,380 3,272 -27.3
Bankruptcies 191 191 234 0.0 -18.4 772 1,309 -41.0
Proposals 430 404 569 6.4 -24.4 1,608 1,963 -18.1
Saskatchewan 752 697 861 7.9 -12.7 2,580 3,558 -27.5
Bankruptcies 229 235 321 -2.6 -28.7 826 1,368 -39.6
Proposals 523 462 540 13.2 -3.1 1,754 2,190 -19.9
Alberta 3,664 3,329 4,345 10.1 -15.7 12,568 17,247 -27.1
Bankruptcies 801 890 1,248 -10.0 -35.8 3,277 5,563 -41.1
Proposals 2,863 2,439 3,097 17.4 -7.6 9,291 11,684 -20.5
British Columbia 2,240 2,099 2,635 6.7 -15.0 8,003 11,389 -29.7
Bankruptcies 626 593 961 5.6 -34.9 2,354 4,179 -43.7
Proposals 1,614 1,506 1,674 7.2 -3.6 5,649 7,210 -21.7
Northwest Territories 12 8 15 50.0 -20.0 44 66 -33.3
Bankruptcies 2 0 5 -- -60.0 7 12 -41.7
Proposals 10 8 10 25.0 0.0 37 54 -31.5
Yukon 7 12 4 -41.7 75.0 39 31 25.8
Bankruptcies 3 4 2 -25.0 50.0 12 13 -7.7
Proposals 4 8 2 -50.0 100.0 27 18 50.0
Nunavut 2 6 0 -66.7 -- 15 4 275.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 2 6 0 -66.7 -- 14 2 600.0
Canada 24,427 24,032 34,110 1.6 -28.4 89,561 141,757 -36.8
Bankruptcies 7,791 8,379 12,078 -7.0 -35.5 30,701 55,704 -44.9
Proposals 16,636 15,653 22,032 6.3 -24.5 58,860 86,053 -31.6
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
Q1 2021 Q4 2020 Q1 2020 Q4 2020 to
Q1 2021
Q1 2020 to
Q1 2021
03-31-2021 03-31-2020 % Change
Newfoundland and Labrador 453 470 622 -3.6 -27.2 1,704 3,081 -44.7
Bankruptcies 169 155 268 9.0 -36.9 669 1,418 -52.8
Proposals 284 315 354 -9.8 -19.8 1,035 1,663 -37.8
Prince Edward Island 104 103 138 1.0 -24.6 392 716 -45.3
Bankruptcies 43 44 80 -2.3 -46.3 166 374 -55.6
Proposals 61 59 58 3.4 5.2 226 342 -33.9
Nova Scotia 813 803 1,265 1.2 -35.7 3,046 5,922 -48.6
Bankruptcies 351 359 583 -2.2 -39.8 1,367 3,000 -54.4
Proposals 462 444 682 4.1 -32.3 1,679 2,922 -42.5
New Brunswick 802 854 1,147 -6.1 -30.1 3,020 4,912 -38.5
Bankruptcies 350 408 453 -14.2 -22.7 1,383 2,276 -39.2
Proposals 452 446 694 1.3 -34.9 1,637 2,636 -37.9
Quebec 6,416 6,247 10,335 2.7 -37.9 22,764 42,603 -46.6
Bankruptcies 2,690 2,827 4,242 -4.8 -36.6 10,162 19,464 -47.8
Proposals 3,726 3,420 6,093 8.9 -38.8 12,602 23,139 -45.5
Ontario 8,018 8,224 11,174 -2.5 -28.2 30,836 45,855 -32.8
Bankruptcies 1,922 2,215 3,135 -13.2 -38.7 8,000 14,448 -44.6
Proposals 6,096 6,009 8,039 1.4 -24.2 22,836 31,407 -27.3
Manitoba 613 591 794 3.7 -22.8 2,346 3,231 -27.4
Bankruptcies 185 187 230 -1.1 -19.6 742 1,279 -42.0
Proposals 428 404 564 5.9 -24.1 1,604 1,952 -17.8
Saskatchewan 734 689 835 6.5 -12.1 2,539 3,451 -26.4
Bankruptcies 212 227 298 -6.6 -28.9 792 1,293 -38.7
Proposals 522 462 537 13.0 -2.8 1,747 2,158 -19.0
Alberta 3,632 3,288 4,296 10.5 -15.5 12,425 17,037 -27.1
Bankruptcies 781 860 1,206 -9.2 -35.2 3,177 5,410 -41.3
Proposals 2,851 2,428 3,090 17.4 -7.7 9,248 11,627 -20.5
British Columbia 2,218 2,069 2,602 7.2 -14.8 7,886 11,261 -30.0
Bankruptcies 612 569 946 7.6 -35.3 2,275 4,095 -44.4
Proposals 1,606 1,500 1,656 7.1 -3.0 5,611 7,166 -21.7
Northwest Territories 12 8 15 50.0 -20.0 44 64 -31.3
Bankruptcies 2 0 5 -- -60.0 7 11 -36.4
Proposals 10 8 10 25.0 0.0 37 53 -30.2
Yukon 7 12 4 -41.7 75.0 39 31 25.8
Bankruptcies 3 4 2 -25.0 50.0 12 13 -7.7
Proposals 4 8 2 -50.0 100.0 27 18 50.0
Nunavut 2 6 0 -66.7 -- 14 2 600.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 2 6 0 -66.7 -- 14 2 600.0
Canada 23,824 23,364 33,227 2.0 -28.3 87,055 138,166 -37.0
Bankruptcies 7,320 7,855 11,448 -6.8 -36.1 28,752 53,081 -45.8
Proposals 16,504 15,509 21,779 6.4 -24.2 58,303 85,085 -31.5
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
Q1 2021 Q4 2020 Q1 2020 Q4 2020 to
Q1 2021
Q1 2020 to
Q1 2021
03-31-2021 03-31-2020 % Change
Newfoundland and Labrador 2 2 2 0.0 0.0 10 33 -69.7
Bankruptcies 2 2 2 0.0 0.0 10 27 -63.0
Proposals 0 0 0 -- -- 0 6 -100.0
Prince Edward Island 0 0 1 -- -100.0 1 11 -90.9
Bankruptcies 0 0 1 -- -100.0 0 10 -100.0
Proposals 0 0 0 -- -- 1 1 0.0
Nova Scotia 7 4 12 75.0 -41.7 14 59 -76.3
Bankruptcies 7 3 10 133.3 -30.0 13 50 -74.0
Proposals 0 1 2 -100.0 -100.0 1 9 -88.9
New Brunswick 1 11 3 -90.9 -66.7 22 35 -37.1
Bankruptcies 0 7 3 -100.0 -100.0 13 28 -53.6
Proposals 1 4 0 -75.0 -- 9 7 28.6
Quebec 383 383 526 0.0 -27.2 1,456 2,078 -29.9
Bankruptcies 312 318 385 -1.9 -19.0 1,185 1,542 -23.2
Proposals 71 65 141 9.2 -49.6 271 536 -49.4
Ontario 130 185 222 -29.7 -41.4 667 885 -24.6
Bankruptcies 93 128 145 -27.3 -35.9 484 621 -22.1
Proposals 37 57 77 -35.1 -51.9 183 264 -30.7
Manitoba 8 4 9 100.0 -11.1 34 41 -17.1
Bankruptcies 6 4 4 50.0 50.0 30 30 0.0
Proposals 2 0 5 -- -60.0 4 11 -63.6
Saskatchewan 18 8 26 125.0 -30.8 41 107 -61.7
Bankruptcies 17 8 23 112.5 -26.1 34 75 -54.7
Proposals 1 0 3 -- -66.7 7 32 -78.1
Alberta 32 41 49 -22.0 -34.7 143 210 -31.9
Bankruptcies 20 30 42 -33.3 -52.4 100 153 -34.6
Proposals 12 11 7 9.1 71.4 43 57 -24.6
British Columbia 22 30 33 -26.7 -33.3 117 128 -8.6
Bankruptcies 14 24 15 -41.7 -6.7 79 84 -6.0
Proposals 8 6 18 33.3 -55.6 38 44 -13.6
Northwest Territories 0 0 0 -- -- 0 2 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 603 668 883 -9.7 -31.7 2,506 3,591 -30.2
Bankruptcies 471 524 630 -10.1 -25.2 1,949 2,623 -25.7
Proposals 132 144 253 -8.3 -47.8 557 968 -42.5
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
Q1 2021 Q4 2020 Q1 2020 Q4 2020 to
Q1 2021
Q1 2020 to
Q1 2021
03-31-2021 03-31-2020 % Change
Newfoundland and Labrador 1 0 0 -- -- 4 10 -60.0
Bankruptcies 1 0 0 -- -- 4 7 -42.9
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 0 -- -- 1 4 -75.0
Bankruptcies 0 0 0 -- -- 0 3 -100.0
Proposals 0 0 0 -- -- 1 1 0.0
Nova Scotia 4 2 8 100.0 -50.0 7 33 -78.8
Bankruptcies 4 2 6 100.0 -33.3 7 25 -72.0
Proposals 0 0 2 -- -100.0 0 8 -100.0
New Brunswick 1 5 3 -80.0 -66.7 12 26 -53.8
Bankruptcies 0 4 3 -100.0 -100.0 9 20 -55.0
Proposals 1 1 0 0.0 -- 3 6 -50.0
Quebec 332 329 462 0.9 -28.1 1,284 1,822 -29.5
Bankruptcies 284 280 349 1.4 -18.6 1,073 1,389 -22.8
Proposals 48 49 113 -2.0 -57.5 211 433 -51.3
Ontario 90 111 115 -18.9 -21.7 465 463 0.4
Bankruptcies 72 87 85 -17.2 -15.3 368 343 7.3
Proposals 18 24 30 -25.0 -40.0 97 120 -19.2
Manitoba 2 1 6 100.0 -66.7 10 19 -47.4
Bankruptcies 1 1 1 0.0 0.0 9 12 -25.0
Proposals 1 0 5 -- -80.0 1 7 -85.7
Saskatchewan 9 5 4 80.0 125.0 18 11 63.6
Bankruptcies 9 5 4 80.0 125.0 16 8 100.0
Proposals 0 0 0 -- -- 2 3 -33.3
Alberta 18 29 32 -37.9 -43.8 82 122 -32.8
Bankruptcies 12 24 27 -50.0 -55.6 61 93 -34.4
Proposals 6 5 5 20.0 20.0 21 29 -27.6
British Columbia 15 20 15 -25.0 0.0 85 52 63.5
Bankruptcies 10 15 8 -33.3 25.0 56 35 60.0
Proposals 5 5 7 0.0 -28.6 29 17 70.6
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 -100.0
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 1 2 -50.0
Proposals 0 0 0 -- -- 0 0 --
Canada 472 502 645 -6.0 -26.8 1,969 2,565 -23.2
Bankruptcies 393 418 483 -6.0 -18.6 1,604 1,937 -17.2
Proposals 79 84 162 -6.0 -51.2 365 628 -41.9
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
Q1 2021 Q4 2020 Q1 2020 Q4 2020 to
Q1 2021
Q1 2020 to
Q1 2021
03-31-2021 03-31-2020 % Change
Newfoundland and Labrador 1 2 2 -50.0 -50.0 6 23 -73.9
Bankruptcies 1 2 2 -50.0 -50.0 6 20 -70.0
Proposals 0 0 0 -- -- 0 3 -100.0
Prince Edward Island 0 0 1 -- -100.0 0 7 -100.0
Bankruptcies 0 0 1 -- -100.0 0 7 -100.0
Proposals 0 0 0 -- -- 0 0 --
Nova Scotia 3 2 4 50.0 -25.0 7 26 -73.1
Bankruptcies 3 1 4 200.0 -25.0 6 25 -76.0
Proposals 0 1 0 -100.0 -- 1 1 0.0
New Brunswick 0 6 0 -100.0 -- 10 9 11.1
Bankruptcies 0 3 0 -100.0 -- 4 8 -50.0
Proposals 0 3 0 -100.0 -- 6 1 500.0
Quebec 51 54 64 -5.6 -20.3 172 256 -32.8
Bankruptcies 28 38 36 -26.3 -22.2 112 153 -26.8
Proposals 23 16 28 43.8 -17.9 60 103 -41.7
Ontario 40 74 107 -45.9 -62.6 202 422 -52.1
Bankruptcies 21 41 60 -48.8 -65.0 116 278 -58.3
Proposals 19 33 47 -42.4 -59.6 86 144 -40.3
Manitoba 6 3 3 100.0 100.0 24 22 9.1
Bankruptcies 5 3 3 66.7 66.7 21 18 16.7
Proposals 1 0 0 -- -- 3 4 -25.0
Saskatchewan 9 3 22 200.0 -59.1 23 96 -76.0
Bankruptcies 8 3 19 166.7 -57.9 18 67 -73.1
Proposals 1 0 3 -- -66.7 5 29 -82.8
Alberta 14 12 17 16.7 -17.6 61 88 -30.7
Bankruptcies 8 6 15 33.3 -46.7 39 60 -35.0
Proposals 6 6 2 0.0 200.0 22 28 -21.4
British Columbia 7 10 18 -30.0 -61.1 32 76 -57.9
Bankruptcies 4 9 7 -55.6 -42.9 23 49 -53.1
Proposals 3 1 11 200.0 -72.7 9 27 -66.7
Northwest Territories 0 0 0 -- -- 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 1 -100.0
Proposals 0 0 0 -- -- 0 0 --
Yukon 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 0 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 131 166 238 -21.1 -45.0 537 1,026 -47.7
Bankruptcies 78 106 147 -26.4 -46.9 345 686 -49.7
Proposals 53 60 91 -11.7 -41.8 192 340 -43.5