Page 26 - Patrick Coghlan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

How has the end of JobKeeper hit recovering Australian businesses? How has the end of JobKeeper hit recovering Australian businesses? More Australian businesses are struggling to pay their bills since JobKeeper ended, CreditorWatch’s latest Business Risk Review has found. Brooke is a Junior Financial Journalist at the Motley Fool Australia. Brooke's interests in finance and the share market evolved during her time at Charles Sturt University. There, she studied a Bachelor of Communication, majoring in journalism and sub-majoring in international relations. In her spare time, you'll find Bro...

Hundreds of food, hospitality and retail businesses in central Melbourne will bear the brunt of a wave of business failures and insolvencies in the next six weeks.

(Mark Syke, View Pictures, Universal Images Group via Getty Images) The Australian economy appears to have undergone an “impressive recovery” after hundreds of thousands of loan deferrals were finalised. New figures released by the Australian Banking Association (ABA) shows less than 5,000 loan deferrals remain outstanding across Australian businesses and households. With the figures timestamped to before the end of JobKeeper and other support measures, thousands of Australians may not be out of the woods just yet. The banks are confident Australian borrowers have come through the pandem...

Thousands of Australian companies are at risk of going under now that JobKeeper has finished, economists have warned.  Up to 5,000 businesses are likely to collapse into administration in the next few months as the end of the wage subsidy also coincides with the temporary moratorium on trading while insolvent being lifted.   Accommodation, food and beverage businesses are most at risk of going under after being hit hard by Covid restrictions, with commercial credit agency CreditorWatch putting the probability of default in the industry at 5.82 per cent. The transport, postal and warehousin...

More businesses collapse in March The latest lockdown could push some firms over the edge as dwindling cashflow exacerbated their already weak financial position. Business by Glen Norris Premium Content Subscriber only The latest Brisbane lockdown could push more firms over the edge as dwindling cashflows, particularly in the hospitality sector, exacerbated their already weak financial position. A total of 44 Queensland firms entered either liquidation or administration in March, a 22 per cent increase on the 36 insolvencies in February, amid the en...