From cathropartners.com.au: In 2024, insolvency appointments in Australia reached record highs, with over 40,000 cases, primarily driven by the construction sector and increasing pressures in the accommodation and food services industry.
A declining confidence among directors and ongoing economic challenges, such as rising inflation and interest rates, suggest a turbulent landscape ahead, potentially leading to higher bankruptcy rates.
Looking toward 2025, experts anticipate further increases in controller and receivership appointments as businesses navigate tightening financial conditions and consumer impacts from ongoing cost-of-living pressures.