Business insolvencies at ‘record highs’

A breakdown of the business landscape across Australia has revealed record-high insolvencies, with things expected to get worse as we enter 2025. CreditorWatch released its November Business Risk Index, with data showing insolvencies are at “record highs in number,” up 57 per cent since November 2023. Further, the average business failure and closure rate across…

Harrolds teases a ‘new chapter ahead’ despite liquidation

After 39 years in business, high-end fashion retailer Harrolds was placed into liquidation earlier this month with debts of $http://www.businessnewsaustralia.com/12.5 million, but a message on the company’s website has alluded to a possible resurrection of the business. Andrew MacNeill, of SMB Advisory, was appointed liquidator to four subsidiaries of the Melbourne-based Harrolds Group on 3…