The latest ASIC data show Australian corporate insolvencies for September 2024 have risen to a new record high. The data represent Australian companies entering external administration for the first time. This indicates many companies remain under financial stress due to the high level of costs and low growth in the economy.
Source: ASIC, CCI.
The Australian corporate insolvency count for September 2024 was 1,225. After adjusting for seasonality, the monthly count increased 9% month on month setting a new record.
The year-to-September count totals 9,596, well above any previous year, while also surpassing the total number of insolvencies for 2023.
Source: ASIC, CCI.
The top contributing industries were unchanged relative to 2023, with construction, hospitality, and retail trade ranking highest.
Source: ASIC, CCI.
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Jason joined Coolabah Capital in 2017 in a full-time role as a senior credit analyst. Jason has over 20 years buy-side experience specialising in fundamental and technical credit analysis across the capital structure. Previously at Hadron Capital LLP, a London based global relative value and event-driven multi-asset class hedge fund, he was jointly responsible for the Credit Long/Short absolute return portfolio. The strategy sought relative value and catalyst driven investments, with portfolio views expressed using Corporate Bonds, Hybrids, Credit Default Swaps and Loans. Prior to Hadron, Jason was the Credit Portfolio Manager at RBC Capital Markets London, responsible for the European Credit Proprietary Trading Portfolio.
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Jason joined Coolabah Capital in 2017 in a full-time role as a senior credit analyst. Jason has over 20 years buy-side experience specialising in fundamental and technical credit analysis across the capital structure. Previously at Hadron Capital...
Jason joined Coolabah Capital in 2017 in a full-time role as a senior credit analyst. Jason has over 20 years buy-side experience specialising in fundamental and technical credit analysis across the capital structure. Previously at Hadron Capital...