Liquidations are up 19% year-on-year, Centrix report says

Lower interest rates have helped individual consumers but domestic demand is still low, according to credit tracker Centrix. (Image: Getty)

Gregor Thompson

Tue, 03 Sep 2024

Liquidations continue trending upward nationwide, but consumer arrears are easing after rate cuts. That is according to a Tuesday report from credit specialists Centrix that details the extent of individual arrears on their debt and business defaults and liquidations in New Zealand.Centrix's managing director, Keith McLaughlin, said challenges will “likely persist” for consumers and businesses.Liquidations While liquidations have fallen from a high in March, on a rolling basis, they are higher than at any other time si...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

Napier Port buoyant as NZ sharemarket rises

Napier Port announced strong earnings growth for the six months to March.

Tom Raynel 6:15pm

Economy

Business inflation expectations heating up

Inflation expectations are on the rise.

Rebecca Howard 4:00pm

Business inflation expectations heating up

Energy

Power moves: New geothermal and old transformers

Eastland looks for a geothermal energy buyer and Meridian is to replace transformers.

Ian Llewellyn 2:15pm

Power moves: New geothermal and old transformers

Sponsored

Tired of missing out on getting to global summits to help grow your business?

Airwallex is offering a grant for NZ businesses to join the action.

Airwallex

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

More Economy

Retail

Smith & Caughey’s to close

Auckland’s flagship department store Smith & Caughey’s will close for good within 10 weeks, with the loss of almost 100 jobs.A rescue attempt to save the famous retailer – which saw it close its Newmarket store last year and reduce the floor space of its ‘Grande Dame’ Queen St bu...

NZME 6:30pm