Monthly business insolvencies have risen to a level not seen since 2015, as a long-expected landslide of corporate collapses hits the Australian economy.
Figures presented by the Australian Securities and Investments Commission (ASIC) this week show 967 businesses entered external administration or had a controller appointed to them in February.
That is a significant jump over the 555 collapses recorded in January, and the single largest monthly tally since October 2015.
The construction sector remains particularly vulnerable, ASIC data shows, with 272 businesses going under in the month of February alone, the most of any industry sector.
Accommodation and food services were the next hardest hit, tallying 137…
