An analysis of ASIC insolvency data by BDO Australia has revealed a struggling SME retail sector, with recent data finding the highest annual number of business insolvencies on record.
According to the firm’s research, ASIC reported that in the first half of the 2024–2025 financial year, there were 7,483 insolvency appointments., a 47.1 per cent increase compared to the same period in the previous year.
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Mark Pizzacalla, BDO business services partner, said the retail industry was tackling significant challenges.
“There are several factors contributing to this, including the dominance of online shopping, escalating rental expenses, and a shift in consumer…
