Newfoundland & Labrador Consumer Insolvency Trends
By Ken Rowan, with data to April 2023
Data source: see notes following
NL
Monthly Filings
A five-year chart of consumer insolvency filings in Newfoundland and Labrador.
Consumer Proposals
Annual File Growth
To measure growth we compare total filings in the 12 months ended April 2023 with those in the 12 months ended April 2022.
Regions / Municipal Areas
Mean and Current Monthly Filings
We consider census metropolitan areas and regions and compare current volumes with the 10-year historical mean. Showing the current month as a percentage of the mean reveals the degree to which current filings exceed the mean.
Cities
Annual Growth Rates
We filter out cities having less than 60 filings per year and show the remainder.
| City | 12.mos.to.Apr2023 | 12.mos.to.Apr2022 | Change | Percent Change |
|---|---|---|---|---|
| Mount Pearl | 108 | 70 | 38 | 54.3% |
| St. John’s | 397 | 269 | 128 | 47.6% |
| Grand Falls - Windsor | 67 | 54 | 13 | 24.1% |
| Conception Bay | 70 | 58 | 12 | 20.7% |
| Paradise | 76 | 68 | 8 | 11.8% |
| Corner Brook | 96 | 88 | 8 | 9.1% |
Forward Sortation Areas
Most Active This Month
The most active FSAs in the current month and their mean monthly filings since 2013.
| FSA | FSA.Place.Name | City | April2023 | Mean | April2023.over.Mean |
|---|---|---|---|---|---|
| A0A | Southeastern Avalon Peninsula (Ferryland) | Rural Area | 26 | 17.9 | 145.2% |
| A1E | St. John’s Central | St. John’s | 16 | 10.3 | 155.9% |
| A1A | St. John’s North | St. John’s | 15 | 7.9 | 189.0% |
| A2H | Corner Brook | Corner Brook | 14 | 9.2 | 152.4% |
| A1N | Mount Pearl | Mount Pearl | 13 | 9.8 | 132.0% |
| A0E | Burin Peninsula (Marystown) | Rural Area | 12 | 8.2 | 145.6% |
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 11 | 13.2 | 83.2% |
| A1L | Paradise | Paradise | 10 | 7.6 | 131.4% |
| A0C | Bonavista Peninsula (Bonavista) | Rural Area | 9 | 4.9 | 182.7% |
| A1B | St. John’s Northwest Newfoundland & Labrador Provincial Government | St. John’s | 9 | 5.6 | 161.0% |
| A0K | Northwest Newfoundland/Eastern Labrador (Mary’s Harbour) | Rural Area | 8 | 6.0 | 132.4% |
| A1C | St. John’s North Central | St. John’s | 8 | 4.3 | 186.8% |
| A1X | Conception Bay | Conception Bay | 8 | 5.8 | 138.0% |
| A0B | Western Avalon Peninsula (Argentia) | Rural Area | 7 | 7.0 | 100.3% |
| A1K | Torbay | Torbay | 6 | 3.9 | 153.7% |
| A1S | Goulds | Goulds | 6 | 2.5 | 240.0% |
| A1W | Manuels | Manuels | 6 | 3.9 | 154.4% |
| A0L | Western Newfoundland (Lark Harbour) | Rural Area | 5 | 2.7 | 186.4% |
| A1V | Gander | Gander | 5 | 4.8 | 105.3% |
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | 4 | 7.2 | 55.4% |
Annual Growth Rates
We average over 10 years the number of monthly files in FSAs and we filter out those having less than 72 files annually. We compare the number of files in the 12-month period ended April 2023 to those in the 12-month period ended April 2022 to calculate growth.
| FSA | FSA_Place_Name | City | 12.mos.to.Apr2023 | 12.mos.to.Apr2022 | Change | Percent Change |
|---|---|---|---|---|---|---|
| A1A | St. John’s North | St. John’s | 116 | 57 | 59 | 103.5% |
| A1N | Mount Pearl | Mount Pearl | 108 | 70 | 38 | 54.3% |
| A1E | St. John’s Central | St. John’s | 124 | 81 | 43 | 53.1% |
| A0K | Northwest Newfoundland/Eastern Labrador (Mary’s Harbour) | Rural Area | 82 | 57 | 25 | 43.9% |
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 161 | 112 | 49 | 43.8% |
| A1X | Conception Bay | Conception Bay | 70 | 58 | 12 | 20.7% |
| A0A | Southeastern Avalon Peninsula (Ferryland) | Rural Area | 190 | 159 | 31 | 19.5% |
| A0E | Burin Peninsula (Marystown) | Rural Area | 101 | 86 | 15 | 17.4% |
| A1L | Paradise | Paradise | 76 | 68 | 8 | 11.8% |
| A2H | Corner Brook | Corner Brook | 96 | 88 | 8 | 9.1% |
| A1B | St. John’s Northwest Newfoundland & Labrador Provincial Government | St. John’s | 61 | 59 | 2 | 3.4% |
| A0B | Western Avalon Peninsula (Argentia) | Rural Area | 76 | 75 | 1 | 1.3% |
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | 70 | 80 | -10 | -12.5% |
Notes and Data Sources
FSA and Forward Sortation Area are protected terms for the benefit of Canada Post Corporation.
Data source: The Office of the Superintendent of Bankruptcy (“OSB”), Innovation, Science and Economic Development Canada, data sets 2013 to April 2023, https://open.canada.ca/
We report on only consumer bankruptcies and consumer proposals as defined by the OSB. For definitions, see https://open.canada.ca/
Ken Rowan is a retired Licensed Insolvency Trustee and a retired CA, CPA.
Questions or Comments? Email debtsgo.ca