OZschwitz company collapses hit record high

Subject: OZschwitz company collapses hit record high Thu Apr 05, 2012 6:33 am

The number of company collapses hit a record high in February as businesses continued to suffer lagging effects from the global financial crisis (GFC).

And Queensland and Western Australia experienced high levels of companies going bust despite the resources boom in those states.

Accounting firm Taylor Woodings, a specialist in restructuring and corporate recovery, on Thursday released its analysis of insolvency data for February 2012 from the Australian Securities and Investments Commission (ASIC).
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Taylor Woodings said the number of company collapses more than doubled to 1,123 in February 2012 - the highest monthly insolvency figure on record - from 518 in January 2012.

January typically shows a lower level of insolvencies because many people are on holidays and courts that would issue wind-up orders are closed.

Read more: http://www.smh.com.au/business/company-collapses-hit-record-high-20120405-1wesz.html#ixzz1rA2KBcUp

OZschwitz company collapses hit record high

OZschwitz company collapses hit record high

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