Builders and cafes hit as insolvencies spike 36 per cent A high-profile building company was among the 60 Queensland firms collapsing last month as the end of subsidies put increased pressure on finances.
Business by Glen Norris
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Subscriber only High-profile building company PlanBuild and a famous North Queensland restaurant were among the Queensland firms that collapsed last month as the end of subsidies such as JobKeeper put increased pressure on finances. The number of Queensland companies that had liquidators or administrators appointed during April increased 36 per cent to 60 from 44 in March. SM Solvency Accountants partner Brendan Nixon said he was surprised business failures had not increased more to date due to the impact of COVID-19. Insolvency experts warned last year of a tsunami of company collapses due to the pandemic.