The latest insolvency data published by the corporate regulator reveals that the number of companies failing is increasing, and it looks like it won’t stop any time soon.
Last week, the Australian Securities and Investments Commission (ASIC) released its latest insolvency data, covering the period from 1 July 2023 to 31 March 2024. The data showed a rise in the number of Australian companies that failed within the nine-month period of data collection.
During this nine-month period, Australian financial regulators reported a “36 per cent increase” in the number of companies entering external administration, with a total of 7,742 companies completing it.
According to ASIC’s data, the construction industry had the highest…
