Bankruptcy – Canadian Insolvency Statistics
The latest Canadian insolvency statistics show a rise in consumer proposals month over month and from the prior November in 2022 and a decrease in bankruptcy filings in several provinces from the prior year.
- Consumer proposals increased 81% in Prince Edward Island in November 2023 (38) compared to November 2022 (21), while bankruptcies fell 41.7% in the same period.
- In Ontario, consumer proposals increased 24.6% in November 2023 (3,448), compared to November 2022 (2,767) while there was also an increase of 7.8% in consumer proposal filings in November 2023 (3,448), compared to the prior month of October, 2023 (3,199).
- Also in Ontario, bankruptcy filings also increased 24.3% in November 2023 (880), compared to November 2022 (708), while there was also an increase of 5.9% in bankruptcy filings in November 2023 (880), compared to October 2023 (831).
- In Canada as a whole, there was an increase of 24.4% of total insolvency (bankruptcy and consumer proposal filings) in November 2023 (12,176) from the prior year’s month (9,784). There was an 18.9% increase in bankruptcies and 26.2% increase in consumer proposal filings in November 2023 compared to November 2022.
| – | Volume | % Change | 12-Month Period Ending | |||||
|---|---|---|---|---|---|---|---|---|
| November 2023 | October 2023 | November 2022 | Oct. 2023 to Nov. 2023 |
Nov. 2022 to Nov. 2023 |
11-30-2023 | 11-30-2022 | % Change | |
| Newfoundland and Labrador | 204 | 188 | 142 | 8.5 | 43.7 | 2,267 | 1,891 | 19.9 |
|
Bankruptcies
|
53 | 51 | 40 | 3.9 | 32.5 | 713 | 665 | 7.2 |
|
Proposals
|
151 | 137 | 102 | 10.2 | 48.0 | 1,554 | 1,226 | 26.8 |
| Prince Edward Island | 45 | 34 | 33 | 32.4 | 36.4 | 513 | 437 | 17.4 |
|
Bankruptcies
|
7 | 11 | 12 | -36.4 | -41.7 | 132 | 167 | -21.0 |
|
Proposals
|
38 | 23 | 21 | 65.2 | 81.0 | 381 | 270 | 41.1 |
| Nova Scotia | 388 | 368 | 330 | 5.4 | 17.6 | 4,322 | 3,415 | 26.6 |
|
Bankruptcies
|
97 | 92 | 98 | 5.4 | -1.0 | 1,218 | 1,221 | -0.2 |
|
Proposals
|
291 | 276 | 232 | 5.4 | 25.4 | 3,104 | 2,194 | 41.5 |
| New Brunswick | 294 | 293 | 274 | 0.3 | 7.3 | 3,545 | 3,141 | 12.9 |
|
Bankruptcies
|
66 | 59 | 77 | 11.9 | -14.3 | 875 | 1,082 | -19.1 |
|
Proposals
|
228 | 234 | 197 | -2.6 | 15.7 | 2,670 | 2,059 | 29.7 |
| Quebec | 3,281 | 3,185 | 2,637 | 3.0 | 24.4 | 32,783 | 27,360 | 19.8 |
|
Bankruptcies
|
1,121 | 1,045 | 918 | 7.3 | 22.1 | 11,217 | 10,531 | 6.5 |
|
Proposals
|
2,160 | 2,140 | 1,719 | 0.9 | 25.7 | 21,566 | 16,829 | 28.1 |
| Ontario | 4,328 | 4,030 | 3,475 | 7.4 | 24.5 | 44,538 | 35,232 | 26.4 |
|
Bankruptcies
|
880 | 831 | 708 | 5.9 | 24.3 | 8,867 | 7,849 | 13.0 |
|
Proposals
|
3,448 | 3,199 | 2,767 | 7.8 | 24.6 | 35,671 | 27,383 | 30.3 |
| Manitoba | 352 | 319 | 247 | 10.3 | 42.5 | 3,665 | 2,753 | 33.1 |
|
Bankruptcies
|
90 | 66 | 68 | 36.4 | 32.4 | 927 | 751 | 23.4 |
|
Proposals
|
262 | 253 | 179 | 3.6 | 46.4 | 2,738 | 2,002 | 36.8 |
| Saskatchewan | 321 | 331 | 260 | -3.0 | 23.5 | 3,733 | 3,142 | 18.8 |
|
Bankruptcies
|
52 | 60 | 40 | -13.3 | 30.0 | 697 | 680 | 2.5 |
|
Proposals
|
269 | 271 | 220 | -0.7 | 22.3 | 3,036 | 2,462 | 23.3 |
| Alberta | 1,731 | 1,623 | 1,402 | 6.7 | 23.5 | 17,973 | 14,964 | 20.1 |
|
Bankruptcies
|
253 | 224 | 235 | 12.9 | 7.7 | 2,709 | 2,524 | 7.3 |
|
Proposals
|
1,478 | 1,399 | 1,167 | 5.6 | 26.6 | 15,264 | 12,440 | 22.7 |
| British Columbia | 1,224 | 1,206 | 974 | 1.5 | 25.7 | 12,998 | 10,155 | 28.0 |
|
Bankruptcies
|
212 | 204 | 185 | 3.9 | 14.6 | 2,195 | 1,921 | 14.3 |
|
Proposals
|
1,012 | 1,002 | 789 | 1.0 | 28.3 | 10,803 | 8,234 | 31.2 |
| Northwest Territories | 5 | 4 | 1 | 25.0 | 400.0 | 62 | 63 | -1.6 |
|
Bankruptcies
|
0 | 1 | 0 | -100.0 | — | 12 | 4 | 200.0 |
|
Proposals
|
5 | 3 | 1 | 66.7 | 400.0 | 50 | 59 | -15.3 |
| Yukon | 2 | 3 | 5 | -33.3 | -60.0 | 41 | 54 | -24.1 |
|
Bankruptcies
|
0 | 0 | 0 | — | — | 8 | 7 | 14.3 |
|
Proposals
|
2 | 3 | 5 | -33.3 | -60.0 | 33 | 47 | -29.8 |
| Nunavut | 1 | 1 | 4 | 0.0 | -75.0 | 17 | 12 | 41.7 |
|
Bankruptcies
|
0 | 0 | 0 | — | — | 2 | 0 | — |
|
Proposals
|
1 | 1 | 4 | 0.0 | -75.0 | 15 | 12 | 25.0 |
| Canada | 12,176 | 11,585 | 9,784 | 5.1 | 24.4 | 126,457 | 102,619 | 23.2 |
|
Bankruptcies
|
2,831 | 2,644 | 2,381 | 7.1 | 18.9 | 29,572 | 27,402 | 7.9 |
|
Proposals
|
9,345 | 8,941 | 7,403 | 4.5 | 26.2 | 96,885 | 75,217 | 28.8 |
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