The latest Corporate Insolvency Index has revealed that while insolvencies are likely to remain at high levels for a while, more businesses are considering restructuring as an option.
The 2024 financial year was a “wild ride” on the insolvency front with the ATO turbocharging its debt collection activities while economic headwinds such as the cost of living crisis created new challenges for businesses, Insolvency Australia said.
In its latest Corporate Insolvency Index report, Insolvency Australia noted 11,049 insolvencies nationally, a 39 per cent increase from the previous year.
The index indicated a 99 per cent increase in court-initiated liquidations at 2,167 while…
