More Australian companies are failing and the construction industry is faring the worst of all.
During the nine-month period from 1 July 2023 to 31 March 2024, more than 7,700 companies entered external administration, a 36.2 per cent increase on the previous corresponding nine-month period ending 31 March 2023.
According to the Australian Securities and Investments Commission (ASIC) data released Thursday (18 April), of these external administrations, construction (2,142), constructed represented the greatest number of company failures, accounting for 27.7 per cent of all insolvencies.
Accommodation and food services industries (1,174) represented the next highest number of company failures, accounting for…
