AAP
The number of business failures in Australia has risen
sharply despite global insolvencies falling to their lowest level in
nearly four years.
Credit agency Dun & Bradstreet says business failures
in Australia rose 12.1 per cent in the June quarter, compared to a 4.1
per cent rise in the prior quarter, with businesses stretched by the
high Australian dollar and relatively high interest rates.
Dun & Bradstreet chief executive Christine Christian
said on Tuesday that Australia had joined Hungary, Ireland, Italy,
Portugal and Spain where businesses had a sharply rising risk of
insolvency.
"Insolvency activity in Australia is up across almost all sectors, with a
significant deterioration in retail and service sector failures,
reflecting subdued confidence."
Business failures in Australian manufacturing have risen on average by 60 per cent since 2008......read in full
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