Insolvency levels have reached their highest point since 201, according to worrying new data.
A long-anticipated "insolvency tsunami" has well and truly hit Australia, according to one of the world's largest credit agencies, and construction and hospitality businesses are at risk of folding faster than most.
Equifax's Scott Mason said the trend raised serious questions about the survivability of many businesses – particularly SMEs and sole traders inThose businesses are "significantly more likely" to be in mortgage stress, Mason said. Equifax data found construction sole traders and SMEs in different regions across Australia have varying levels of stress.
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