An insolvency tsunami has swept through Australia, putting the country on track to record decade-high numbers of collapsed businesses by the end of the financial year.
While building and food services companies are at the forefront of the surge, few sectors have been spared, representing a soft underbelly to the country’s otherwise resilient economy.
Why are so many businesses coming unstuck?
Just one glass
The hospitality industry is recording a spate of collapses as consumers cut their restaurant and cafe spend during a cost-of-living crisis.
This rubs against the support hospitality businesses received from the community in the early pandemic, in part due to programs such as state government-issued dining vouchers. There…
