Business liquidations up 36%

Mortgage lending continued to tail off, though there are signs of life returning. (Image: Getty)

Tue, 01 Aug 2023

Business credit defaults continued to track up last month, with an increase in company liquidations of 36% year-on-year, reflecting stress points, particularly in the construction, retail, hospitality and property sectors.Data from credit agency Centrix shows previous arrears are now converting to defaults in those sectors, with credit demand surging across the board.Credit defaults are also higher across the manufacturing sector, which accounts for more than 25,000 registered companies. That was particularly pronounced across beverage and...

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