Full list of Gold Coast liquidations, administrations, restructures and receiverships in 2024

New data on company collapses has highlighted the extraordinary pressures faced by Gold Coast companies last year. EXPLORE GRAPH OF ALL 712 COMPANIES:

• Gold Coast Business winners and losers of 2024

More than 700 Gold Coast companies faced insolvency in 2024, with the construction industry taking the heaviest blows.

On the Gold Coast, 182 construction companies went into liquidation or some form of administration in 2024, from a total of 712 across all sector, newly-released ASIC data reveals.

The accommodation and food services sector endured the second highest number, with 117, followed by 60 “other services”; 46 financial and insurance services; 45 retailers and 40 manufacturing firms.

More than 3200 construction companies went into administration nationwide in 2024, leaving buyers and subcontractors uncertain and out of pocket.

Nationally, almost 40 per cent of all businesses facing insolvency opted for voluntary liquidation, while 24 per cent took advantage of the small business restructuring program to avoid complete failure.

Queensland had the highest percentage of business restructures in Australia, making up 29.87 per cent of the total, followed by NSW with 23.14 per cent and Victoria with 20 per cent.

Among the near misses – who continued to trade on the Gold Coast – were The Henchman Miami; Black Hops Brewing; The Pink Flamingo; Outland Denim; Pink Hotel and Eddie’s Grub House; Artesian Hospitality Group; and Matt Hollywood.

Those who closed down for good included Matt Ward Productions; Pretty Handsome cafe; Espresso Moto; Frida Sol Mexican; and Hunky Dory.

Construction companies that bit the bust in 2024 include PPS Qld and PPS Commercial, which left at least $4.5m of debts in their wake.

Related companies Skyfield Homes and Focus Living also collapsed, leaving home buyers in the lurch.

Construction companies were hardest hit.

Gold Coast Central Chamber of Commerce president Lauran Younger said the pandemic years were still taking a toll in 2024.

“During Covid there was a relaxation of taxes and that sort of thing, which of course catches up and the ATO calls it in,” she said.

“That makes it really difficult if you haven’t been able to put that money away.”

The chamber is hosting its first event of 2025 – the Gold Coast Economic Health Check Breakfast – next week, where more than 280 local business people will gather to discuss the prospects of the coming year.

Ms Younger said many Gold Coast businesses were still doing well, but “times have been tough”.

“Covid really banged everyone around big time and it’s taken a while for things to pick back up – that’s where food and accommodation has taken a hit.

“With the high cost of living, people are not going out as much as they used to and not spending as much as they were.”

Originally published as Full list of Gold Coast liquidations, administrations, restructures and receiverships in 2024