ONE of the regions largest liquidation firms fear waves of insolvency rates will flow on the Sunshine Coast once the government support tap turns off.
Worrells Solvency and Forensic Accountants partner Paul Nogueira said insolvency rates had been down since March due to the Federal Governments lifeline packages which kept businesses afloat.
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He pointed to the Australian Financial Security Authority, which reported personal insolvency statistics from the March quarter had dropped by 15 per cent nationally.
Bankruptcies were also down for the quarter at 6.4 per cent the lowest level since 1990.
Mr Worrells said the firm had been exceptionally quiet since the world went into lo…
Read the full article at: https://www.sunshinecoastdaily.com.au/news/insolvency-rates-to-flow-when-stimulus-tap-turns-o/4039367/
