The data, from the Australian Securities and Investments Commission shows that 2486 businesses hit the wall during the last quarter.
Hotondo Homes is among the high-profile construction businesses to have collapsed recently. Picture: Kenji Sato. Directors were also released from any personal liability for trading while insolvent during that time, and insolvencies fell dramatically. “You can’t have zero per cent interest rates and not expect consequences. You can’t have too much sugar and not expect a crash.”Australia’s second-biggest private construction firm, Hutchinson Builders, today announced a 93 per cent fall in net profits for the 2022-23 financial year.
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