Rising Numbers of Companies placed in Administration

According to accounting firm Taylor Woodings, the number of companies placed in administration in June jumped more than 25 per cent and is expected to continue to increase. It is reportedly the second-highest monthly total on record, behind March 2009 when the financial crisis was at its peak.

Taylor Woodings announced that external administrations during 2010-2011 were 5.9 per cent higher than a year earlier and just 1.8 per cent lower than 2008-9. The significant increase has been attributed to the rise in a difficult trading environment brought on by a lack of liquidity in debt and equity markets, high interest rates, and continued enforcement activity by the Australian Tax Office.

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