Liquidations fall in 2021 financial year.

Liquidation appointments declined by 39 per cent in FY21. Irrespective of business closures and stay at home orders during lockdown, company insolvencies took a sharp decrease from the previous year. Analysing the research, our team at Australian Debt Solvers identified the government stimulus packages of wage subsidies, deferred loan repayments and re-negotiation of rental or lease arrangements allowed businesses to keep afloat during the pandemic.

Court appointments also took an immense decrease of 68 per cent from the previous financial year, this can be found due to creditors being unable to bring insolvency action against debtors. Also due to the courts being closed for a considerable period.

Please find our insolvency F21 infographic here.