There is no denying 2024 was a tough year for business.
According to the figures from Alares Credit Risk Insights, insolvencies numbers reached an all-time high last year.
Inadequate cash flow, poor strategic management and trading losses are some of the top reasons companies go under.
ASIC’s latest insolvency data for the fourth quarter from October to December 2024 revealed a staggering increase in the number of Australian companies failing.
During that period 3,852 companies entered external administration, a 48.5 per cent increase on the corresponding 2023 quarter which saw 2,593 enter insolvency.
Experts lend their advice
Insolvency expert Andrew Spring, partner at Jirsch Sutherland, has seen a notable increase in…
