Skip to content
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
Insolvency GuardianInsolvency Guardian
  • Insolvency
  • Zero Contact Solutions
  • Resources
  • News
  • About Us
  • Contact
1300 60 70 60
  • Insolvency
  • Zero Contact Solutions
  • Resources
  • News
  • About Us
  • Contact

Record hospitality businesses shutter as insolvencies rise by 17%

Apr162025
Bankruptcy

Nearly one in 10 hospitality and food services businesses closed in the past year, as cost pressures force Australians to rein in spending.

A record-high 9.4% of food service and hospitality businesses shut their doors in the year to March, as economy-wide insolvencies surged 17% year-on-year, according to CreditorWatch data.

Six of the seven industries with the highest closure rates were dependent on discretionary spending.

Administration businesses and the arts and recreation sector both had closure rates above 6%, while retail, construction and accommodation all had higher closure rates than the 5.3% industry average.

Related Article Block Placeholder

Article ID: 315051


Opinion: Cutting the small business tax rate should be an election priorityRead the original article here

Category: BankruptcyBy EditorApril 16, 2025

Post navigation

PreviousPrevious post:Cubitt’s in liquidation but projects will be completedNextNext post:GrowthOps enters administration, 21 entities liquidated

Related Posts

AI meets insolvency tech as Aryza snaps up fellow Irish company Webio
May 29, 2025
More trouble for Keroche as ex-MD files for liquidation in Sh75m exit payout dispute – Business Daily
May 29, 2025
Husband-and-wife directors of singing waiters firm banned – continued to take payments when company was insolvent – Insider Media Ltd
May 29, 2025
City regulator issues alert over bankrupt podcaster’s former company – The Times
May 29, 2025
‘We will sue him until he goes bankrupt’: Victim’s mother plans to sue ex-actor Ian Fang
May 28, 2025
Semry Nears Insolvency as Financial Losses and Unmet Investment Needs Mount
May 28, 2025
Insolvency Guardian
© Insolvency Advisory Accountants Pty Ltd trading as Insolvency Guardian Australia.

Disclaimer

Go to Top
Call Now Button