More than 5,000 Australian businesses to collapse in next three months, experts say

More than 5,000 Australian businesses to collapse in next three months, experts say

The Guardian

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Business failures set to escalate after jobkeeper ended and insolvency rules returned to pre-Covid settings

At least 5,000 Australian companies will go broke in the next three months due to the jobkeeper wage subsidy ending and other factors including insolvency rules returning to pre-Covid settings, experts say.

Brisbane’s snap lockdown will also put pressure on companies struggling to survive without jobkeeper, which ended on Sunday, the chief executive of commercial credit agency CreditorWatch, Patrick Coghlan, said.

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