Hospitality and tourism businesses continue to be the hardest hit due to the impact of COVID-19 with several closing their doors last month.
There were 36 Queensland firms that collapsed into liquidation and administration in February, up from 27 the previous month.
Revive Financial partner Jarvis Archer said his office had seen an increased number of insolvency appointments and inquiries in February with the impact of COVID-19 cited by most company directors as the cause of their financial troubles.
“Some businesses have remained closed since the early onset of COVID restrictions in March 2020,” said Mr Archer.
“Others have reopened but have been unable to return to profit following a dramatic decline in ongoing revenue.”
Hospitalit…
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