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 September 2022.

Small Business Restructuring

The August/September 2022 issue of the Chartered Accountants magazine, Acuity, featured an article on Rodgers Reidy Small Business Restructuring and the many benefits to companies in financial distress from this type of appointment.  A copy of the article is available in the link below.   Rodgers Reidy is one of the leading appointees for appointments in relation to Small Business Restructuring.  We have achieved excellent results for our clients, restructuring their businesses and saving the vast majority from a formal liquidation or administration.

https://www.acuitymag.com/business/recommending-clients-to-specialists-need-not-be-taboo

During the month of September 2022, 37 companies appointed a Restructuring Practitioner in relation to the Debtor in Possession restructuring process for small businesses.

We urge directors to consider SBR as an option and act early.  Feel free to contact your local Rodgers Reidy office to discuss whether this option is right for your clients.

Winding Up applications filed with the Court in September 2022

 

Winding Up applications	Australia	NSW		VIC		QLD		WA		ACT		SA		NT		TAS
TOTAL	(No.)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)
	159	62	39	75	47	10	6	7	4	2	1	2	1	1	1	0	0

 

There were eight (8) winding up applications filed by the ATO in September 2022.

 

Formal Appointments in September 2022

Formal Appointments	Australia	NSW		VIC		QLD		WA		ACT		SA		NT		TAS
TOTAL	(No.)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)
	780	396	51	157	20	128	16	62	8	15	2	20	3	2	0	0	0
Court Liquidation	95	38	40	35	37	11	12	8	8	1	1	1	1	1	1	0	0
Creditors’/Members’ Voluntary Liquidation	595	305	51	106	18	109	18	42	7	13	2	19	3	1	0	0	0
Voluntary Administration	90	53	59	16	18	8	9	12	13	1	1	0	0	0	0	0	0

 

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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