Insolvency numbers down in November 2013

The corporate insolvency statistics for November 2013 have been published.  Australia wide there were 830 new appointments in total, which is the lowest monthly figure since January 2013’s total of 628 and the lowest November since 2009. It is down 8% on the previous November and down 7% on the average of the previous 5 Novembers.

A contributor to this decrease was a particularly low number of Voluntary Administration appointments at 70. This is the lowest number of VA’s since January 2011’s  60 and that was the lowest since 2000.

State by state NSW is up 2% on the previous year’s November, but QLD is down 11% and VIC is down 15%.

The largest number of insolvencies by industry for November were:  Other (business and personal) services with 274, making up 33% of the total, Construction with 144 being 17% of the total and Retail trade with 69 at 8%.