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"The number of business failures has jumped by more than a quarter from a year ago" according to a report from BWA Insolvency.

Data for February 2024 shows a significant jump in insolvency appointments, which were 50% higher than the average of the previous three years (New Zealand Insolvency and Trustee Service (ITS)). This increase is attributed to a combination of creditor pressures and tougher economic conditions (interest, inflation, pricing, consumer spending, and supply chain pressures) which reduce the likelihood of solvent liquidations​ (