QUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends.
In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration.
The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19.
Liquidator Brendan Nixon of SM Solvency said the virus and associated lockdowns had already sealed the fate of many companies.
“Most of our recent liquidations from April onwards have had a cause of the company’s demise being attributed, at least partly to COVID-19,” he said.
“It’s the lockdowns, the travel restrictions and the inability to trade, particularly in hospitality, as usua…
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