A SNAPSHOT of Rockhampton’s insolvency rates paints a bleak picture for residents and small business traders.
Since March, 69 individuals have either declared or are facing bankruptcy as a result of not being able to meet their debt requirements; an increase of 11.29% on the previous quarter.
The Australian Financial Security Authority (AFSA) released the regional personal insolvency and business related personal insolvency statistics for the June quarter, which revealed business-related insolvencies had suffered an increase of 28.57%.
Non-business related insolvencies are up 6.25% to 51 people.
Worrells Rockhampton and Sunshine Coast partner Paul Nogueira explained the insolvency was a “general term which entailed bankruptcy and persona…
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