CreditorWatch warned that almost one out of every six (16.2%) hospitality firms is at risk of failing due to high interest rates, rising rents, cost-of-living pressures, and the pandemic hangover.
CreditorWatch forecast that roughly one in eleven (8.9%) food and beverage enterprises would close in 2025.
The latest insolvency data from the Australian Securities and Investments Commission (ASIC) shows that the accommodation and food industry experienced the sharpest increase in corporate insolvencies.
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There were 2194 insolvencies across the accommodation and food industry in the financial year to 2 March 2025, up 79% from the same time a year earlier (1226) and 182% on 2023 levels (779).
Global coffee prices have more than…