Original article by Matt Bell
The Australian – Page: 15 : 29-May-24

Data from the Australian Securities & Investments Commission shows that 8,742 businesses nationwide were declared insolvent in the first 10 months of 2023-24. This compares with just 6,200 insolvencies during the same period in the previous financial year. NSW has recorded the biggest growth in insolvencies, with 3,695 businesses collapsing in the 10 months to 30 April; there have been 2,247 insolvencies in Victoria and 1,608 in Queensland. Sectors such as construction, accommodation, retail and food services have recorded the biggest growth in insolvencies.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION