The insolvency avalanche has regained momentum in Australias construction industry and still in its path are hundreds of companies precariously teetering on the brink of collapse.
New data indicates insolvencies in the sector are trending to surpass 2000 for the 12 months to the end of Junethe highest in more than a decade.
I’d say that the vast majority of builders and construction businesses in Australia are probably borderline insolventtechnically, that is, Building Industry Credit Bureau chief executive Wayne Clark says.
Cashflow is probably keeping most of them alive it just depends on what their balance sheets look like but we’re seeing a slowdown in the payment patterns for sure.
According to Clark, the latest BICB analysis sho…
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