Rise in liquidations compounded by IRD crackdown

Auckland restaurant Vivace was tipped into liquidation by the IRD in December. (Image: Hayden Woodward)

Tue, 22 Apr 2025

A crackdown on tax evasion by the Inland Revenue Department is contributing to insolvency numbers. In March, credit specialist Centrix said liquidations were up 37% annually, with 263 liquidations in February compared with 192 in the same month last year.The rolling annual average of 217 liquidations a month was higher than at any time since Centrix started collecting the data in 2019.On an annual basis, liquidations have been steadily rising for over three years. There were 2,504 liquidations in 2024, up from 1,837 in 2023 – that nu...

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