IBISWorld forecasts the number of business bankruptcies to fall by 25.0% in 2024-25, to 8,285. Business bankruptcies are coming off of a high over the two years through 2023-24, as the number of bankruptcies surged following the end of the pandemic. The drop in the current year, represents a normalisation in the number of business bankruptcies following significant volatility over the past five years.
language
Business Bankruptcies
Published: August 29, 2024
Key Metrics
Definition of Business Bankruptcies
This report analyses the number of companies that become insolvent and enter into a form of external administration or has a controller appointed. This includes companies that are forced to restructure, liquidate assets, enter voluntary administration or have a controller, including a court-appointed controller. The data for this report is sourced from the Australian Securities and Investments Commission and is presented in financial years.
Included in an IBISWorld Membership
- Our industry reports include 35+ pages of data, analysis and charts, including:
-
Industry Financial Ratios -
Historical and Forecast Growth -
Industry Market Size -
Industry Major Players -
Profitability Analysis -
SWOT Analysis -
Industry Trends -
Industry Operating Conditions
Recent Trends – Business Bankruptcies
The COVID-19 outbreak caused significant uncertainty for many businesses. Yet, in response to the pandemic, government intervention and support measures averted high instances of bankruptcies. For example, Jobkeeper and rent relief assistance for many businesses eased the financial burden of the pandemic. Furthermore, several businesses were given opportunities to restructure and rearrange their affairs with the help of Government schemes following the initial outbreak. These schemes and initiatives limited the number of businesses filing for bankruptcy over much of the past five years. Indeed, business bankruptcies declined by over 40.0% in 2020-21.
lockPurchase this report or a membership to unlock the Recent Trends.
5-Year Outlook – Business Bankruptcies
IBISWorld forecasts the number of business-related bankruptcies to ...
