Risk Watch Essentials – July 2023.
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RR Leading the Way
Rodgers Reidy was recently featured in an article regarding the gender imbalance in the insolvency industry highlighted in the Parliamentary Inquiry into the Insolvency Industry.
Insolvency must address gender imbalance: Rodgers Reidy | Accountants Daily
Rodgers Reidy is committed to dealing with gender equity and we are proud of the ground we are making, while cognisant that there is still much to do, and some of it we cannot do without you. We take great pride in being at the forefront of gender equity in insolvency. We have been independently ranked as the leading Insolvency firm with the lowest gender gap in the insolvency industry for firms with more than 10 Registered Liquidators.
Small Business Restructuring
During the month of July 2023, 28* companies appointed a Restructuring Practitioner out of a population of around 990,000 small companies in Australia
*Provisional
Our understanding of the market is that small businesses are coming under greater and greater financial pressure in the current economic climate. For any small business with an otherwise viable business model, an SBR should be the restructuring tool of choice to relieve historical debt problems. The message is just not getting out there that SBR can save your small business at least cost and interruption. Feel free to contact your local Rodgers Reidy office to discuss whether this option is right for your clients.
The tables and graphs below summarise the data essentials captured from our daily Risk Watch publication, which provides a synopsis of the insolvency market for July 2023.
Winding Up applications filed with the Court in July 2023
There were eighty-three (83) winding up applications filed by the ATO in July 2023 compared with ninety-eight (98) in June 2023.
Formal Appointments in July 2023
Rodgers Reidy is one of the foremost providers of insolvency, forensic and reconstruction services to distressed businesses throughout Australia, New Zealand and Asia. With a strong commitment to integrity and the community, Rodgers Reidy provides a professional and quality service, offering innovative, cost effective solutions. Please contact any of our directors by clicking the appropriate office below for an initial consultation free of charge.
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