Photo: RNZ / Rebekah Parsons-King
Squeezed household budgets are putting a big dent in how much money people can spend at the shops and retailers are struggling to stay afloat, some closing doors.
Retailers are looking at another tough year ahead, with the latest data showing consumer spending – on everything from food to big ticket items – continues to drop.
It comes as the number of people behind in debt repayments reached its highest level in seven years.
Bryan Williams, a liquidator for 30 years, said enquiries had ramped up considerably.
“There’s unprecedented demand for insolvency services now and I think that’s a reflection on the dip in the economy,” he said.
“We have significant enquiries from companies that are suffering at…
Read the full article at: https://www.rnz.co.nz/news/national/511630/unprecedented-demand-for-insolvency-services-as-retailers-struggle