Last week, the Australian Securities and Investments Commission (ASIC) released its latest insolvency data, covering the period from 1 July 2023 to 31 March 2024. The data showed a rise in the number of Australian companies that failed within the nine-month period of data collection.
During this nine-month period, Australian financial regulators reported a 36 per cent increase in the number of companies entering external administration, with a total of 7,742 companies completing it.
According to ASICs data, the construction industry had the highest number of company failures, with 2,142 companies entering external administration, followed by accommodation and food services with 1,174.
Australias corporate regulator revealed that these …
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