A “steep increase” in insolvencies is expected as debt holidays come to an end and other government stimulus measures are wound back.
Relaxed insolvency laws which allowed businesses to trade without making a profit for six months expired on January 1, and the time frame has been reduced to 21 days.
Noosa-based insolvency expert and liquidator Jarvis Archer said during COVID-19 insolvency appointments had dropped by about 60 per cent compared to 2019.
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He said there have been about 3000 less insolvencies since March 2020, with numbers particularly low on the Sunshine Coast.
But with temporary relief expired for bankruptcy notices, s…
Read the full article at: https://www.sunshinecoastdaily.com.au/news/businesses-put-to-test-as-debt-holidays-expire/4170575/
