A leading insolvency firm warns that a potential second wave of business failures is on the way, with consumer-facing sectors in the firing line.
BWA Insolvency managing director Bryan Williams says the continuing pressures of reduced consumer spending and slowing global economies are impacting NZ businesses, as detailed in the latest BWA Insolvency Quarterly Market Report.
Business insolvencies in New Zealand were up 20% for Q3 (July 1-September 30), compared with the same period last year. However, the Q3 results were only up by 5% on Q2 2023.
Williams cautions that the slowdown in insolvencies does not necessarily indicate a positive trend.
This quarter has seen a levelling of insol…
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