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Hot Topic Hawke’s Bay
Australia
1 mins to read
1

Aussie insolvencies surge as Covid kills off businesses

ASIC data shows that the economic impacts of the pandemic are still being felt, especially for SMEs.

Poor cash flow was the major reason for business failure.

Lachlan Colquhoun Wed, 20 Dec 2023

The number of Australian companies going into administration surged by 88% in the 2023 financial year to almost 8000, according to data released today by corporate regulator Australian Securities and Investments Commission.

Annual corporate insolvency data released by ASIC shows that 7942 Australian

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Lachlan Colquhoun Wed, 20 Dec 2023
Contact the Writer: lachlan@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Australian Securities and Investments Commission (Asic) insolvency business failure
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