The number of Australian businesses going into liquidation or administration plummeted to way below normal levels in July and August, leading to fears of the true state of many businesses, with printers warned to ensure they keep a tight rein on credit terms.
Winding-up applications are down by 89 per cent. In fact, the ATO did not file any winding-up applications in July or August. Insolvency outfits say this is consistent with their understanding that during this period, the ATO is more focused on business support measures than recovery procedures.
In the same two months court liquidations are down 74 per cent, with voluntary administrations down 62 …
Read the full article at: https://www.print21.com.au/news/insolvency-figures-plummet-fears-over-credit-lines