AAP The number of business failures in Australia has risen sharply despite global insolvencies falling to their lowest level in nearly four years.
Credit agency Dun & Bradstreet says business failures in Australia rose 12.1 per cent in the June quarter, compared to a 4.1 per cent rise in the prior quarter, with businesses stretched by the high Australian dollar and relatively high interest rates.
Dun & Bradstreet chief executive Christine Christian said on Tuesday that Australia had joined Hungary, Ireland, Italy, Portugal and Spain where businesses had a sharply rising risk of insolvency.
"Insolvency activity in Australia is up across almost all sectors, with a significant deterioration in retail and service sector failures, reflecting subdued confidence."
Business failures in Australian manufacturing have risen on average by 60 per cent since 2008......read in full
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