Australia recorded 840 new insolvency appointments in the second half of May, the highest fortnightly volume in over 12 months.
Despite broader economic resilience, the numbers point to an intensifying capital squeeze across construction, hospitality, and mining-adjacent operators.
We’re seeing a structural shift: formal wind-ups now outpace voluntary administration pathways, while court appointments remain elevated, a signal that directors are losing room to maneuver.
📊 National Snapshot
313 CVLs | 136 Court liquidations | 124 Restructures | 112 Restructuring plans | 75 VAs | 32 DOCAs | 13 Controller appointments | Plus 35 receivership-style appointments
📍 State Breakdown
NSW (289) and VIC (257) remain the epicentres, but QLD (167) is showing increased volatility. WA recorded 47 appointments, modest on volume, but concentrated in vulnerable industries.
🏗️ What’s Breaking First?
Construction remains the leading sector, with 181 appointments, driven by undercapitalised contractors and delayed receivables. Hospitality follows with 162, mostly independent operators facing high rents and low margins. But the uptick in health, services, and professional sectors points to rising pressure in white-collar segments too.
📌 WA Spotlight
Worrells, KordaMentha, WA Insolvency Solutions, Hall Chadwick WA, and Mackay Goodwin led local appointments.
📉 Key sectors ➞ Accommodation & food (7) | Construction (6) | Mining (7)
These numbers mirror a broader trend: mining-adjacent trades and regional contractors are sliding first, often with no Plan B.
🏢 National Firm Leaders
Worrells (69), SV Partners (42), Hall Chadwick (39), Mackay Goodwin (35), and Cor Cordis (22).
At The White Knight Fund, we do more than observe distress, we act in it.
We deploy strategic capital into stuck assets, fund practitioners pre and post appointment, and help deliver outcomes when time, trust, or liquidity runs short.
📩 If you’re managing a file in motion (or a client on the edge), let’s talk about options.
📊 Visual breakdowns in the carousel.
📌 Data: ASIC Insolvency Notices | Industry codes: ANZSIC
