In the 2023-24 financial year, a record 3,000 construction firms in Australia were declared bankrupt (insolvent). New data from ASIC suggests that construction insolvencies have worsened in 2024-25. In the first seven months of this financial year, 1,999 construction firms were declared insolvent. This was 26% higher than the same period in 2023-24 (1,583) and
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