Australian corporate insolvencies set new record

ASIC Australian corporate insolvencies reached their highest level since monthly data were first published in January 1999.
Jason Lindeman

Coolabah Capital

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 Lindeman
Head of Credit Research
Coolabah 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...

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