Company failures hit a 15-year high in New Zealand last year, according to credit bureau Centrix.
In Centrix’s latest monthly Credit Indicator report, chief operating officer Monika Lacey said the rising liquidations “underscore ongoing financial strain across parts of the economy, as well as the IR’s ongoing crackdown on outstanding debts”.
However, Lacey said despite this broad rise, there are signs of resilience in some sectors.
In terms of the detail, business liquidations saw the sharpest rises in hospitality (+50%), retail trade (+34%) and transport (+27%), “highlighting ongoing financial stress in these sectors despite improving credit conditions”.
Construction (+13%), manufacturing (+12%) and property/rental (+17%) also…