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Michael Read

The ‘insolvency armageddon’ is all hype

Concern about the record number of company failures is not only overblown, but the surge in businesses going bust is probably a good thing.

Foreign affairs and defence correspondent
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Online bookseller Booktopia and airline Regional Express have little in common, apart from being terrible investments for shareholders lately.

So terrible, they were among the 1238 businesses in Australia forced to appoint administrators in July, with both variously blaming labour shortages, weak consumer demand and industry-specific headwinds for their plight.

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is the foreign affairs and defence correspondent, reporting from Parliament House, Canberra. He was formerly economics correspondent. He joined the Financial Review in 2021 from the Reserve Bank of Australia. Reach Michael securely @michaelread.14 on Signal. Email Michael at michael.read@afr.com
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    Original URL: https://www.afr.com/policy/economy/the-insolvency-armageddon-is-all-hype-20240913-p5kabt