The economy is slaughtering Aussie businesses and there’s no sign of things letting up.
Company collapses surged in February and reached a level that hasn’t been seen for the past nine years, according to new data released on Monday by the corporate regulator, the Australian Securities and Investments Commission (ASIC).
“Insolvencies are increasing significantly,” Cliff Sanderson of insolvency firm Dissolve told news.com.au.
According to ASIC, 967 companies across Australia went under in February.
“This is the highest monthly figure since October 2015, which was 1000 insolvencies,” Mr Sanderson said.
Compared with the same month the year before, February’s insolvency figures are up by an eye-watering 39 per cent. Last…
