ASIC has released its final statistics for the year on insolvency appointments and companies entering external administration, reporting on data gathered up to October 2014.

Of the 13,983 insolvency appointments over the past year, the majority were made in respect of a creditor's winding up (6291) followed by a court ordered winding up (3625).

Industry trends for companies entering external administration have continued, with entities categorised as 'Other businesses – personal services' and 'Construction' topping the list for 2014. The number of companies entering external administration for the month of October 2014 was 724, down from 947 in October last year.