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Thousands of Australian companies to fail within three months as JobKeeper dries up – NEWS.com.au
Thousands of Australian companies to fail within three months as JobKeeper dries up
Thousands of Australian companies are tipped to collapse into administration within the next three months and some industries are particularly at risk.According to commercial credit agency CreditorWatch, several government measures introduced during the coronavirus crisis meant the average rate of insolvencies actually decreased during the pandemic, with many ailing firms artificially propped up during the emergency.
However, those measures – including the JobKeeper wage subsidy and the temporary…
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