WITHIN a three month period eight local businesses announced they were bankrupt or they were unable to pay their debts.
According to the latest personal insolvency statistics released by the Australian Financial Security Authority, the total number of those in Coffs Harbour entering debt between July and September this year was 30.
A total of 22 debtors had an insolvency that was non-business related.
There were also 13 debtors in total in the Nambucca to Kempsey region, and 14 in the Clarence Valley.
Unsurprisingly, Sydney topped the state with the highest number of debtors reaching 1,310, including 312 businesses.
The statistics include both insolvency and bankruptcies in the one category. Insolvency refers to a financial state of being …
Read the full article at: https://www.coffscoastadvocate.com.au/news/local-business-bankruptcies-on-an-upward-trend/3258482/