Business liquidations have hit a 10-year high with 2500 companies folding last year, marking the highest annual figure since 2014 amid challenging conditions for construction and retail.
The figure represents an increase of nearly 700 liquidations compared to 2023, while receiverships also climbed to their highest level since 2012, with 186 companies entering receivership – up by 84 from the previous year.
Liquidation and receivership numbers have been trending upward since the pandemic.
Retail NZ chief executive Carolyn Young highlighted the severity of the situation facing retailers, saying it had anecdotally been the toughest period in decades for some.
“We’ve spoken to a number of retailers over the Christmas break and a number of…
