Corporate insolvencies have reached their highest level since ASIC began publishing the numbers just over twenty-five years ago.
The national number of corporate insolvencies showed fresh strength in March, reaching 1.1K in the month, which is the highest level since ASIC began compiling the statistics in 1999.
The same holds true for the seasonally adjusted number of insolvencies, which was also around 1.1K in March on CCI’s analysis, and the estimated trend in insolvencies, put at about 1K on CCI’s calculation.
The construction industry remains a key driver of rising insolvencies.
There is an unprecedented backlog of construction work at present, but builders that offered fixed-price contracts during the pandemic…
