The accommodation and food services industry saw a 21 per cent spike in corporate insolvency appointments over the 201718 financial year, while the retail trade sector saw a 19 per cent increase, according to Worrells Solvency and Forensic Accountants latest insolvency report.
Our experience in the last 12 months is indicative of what the Australian Securities and Investments Commissions statistics report, said Worrells partner Chris Cook.
The enquiries and discussions we have daily with business owners and their advisors tells me that theres more stress and pressure to come in the construction and retail industry and trading environments.
The makeup of the top five industries in the corporate insolvency analysis includes other (busine…
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