Parramatta. Insolvencies to rise

Insolvency practitioners have predicted that small to medium size businesses will dominate the second wave of business failures despite signs of an economic recovery, according to The Australian Financial Review. Insolvency practitioner and chartered accountant, Schon Condon, of Condon Associates, in Parramatta, said a number of insolvency firms anticipated a significant increase in engagements last year, which did not eventuate. However, he expected that situation would change as higher interest rates bit in the next year or two.