Following the traditionally quiet month of January, insolvency appointments have picked up across the nation. In February 2015, a total of 912 appointments were made nationwide, representing a 39 per cent increase over January. This is, however, still the lowest number of appointments in February since 2005, when 826 appointments were made.
The statistics also continue to reflect the so-called 'two speed' economy present in Australia: sharp jumps in appointments over mining and construction companies occurred in Queensland, whilst Western Australia and Victoria saw more appointments over companies in the accommodation and food services sector. New South Wales, Victoria and Queensland saw significant declines in the number of information, media and telecommunications companies entering external administration.
In contrast to the overall increase in appointments, voluntary administrations remained flat in February with an increase of only 1 per cent (one appointment). This contrasts with previous years, where increases of 46 per cent (44 appointments) and 47 per cent (30 appointments) were witnessed in 2013 and 2014 respectively. It does, however, align with the downward trend of voluntary administration appointments observable since mid-2006.