The sugar hit many businesses received during the pandemic is starting to wear off.

Company liquidations are on the rise again as the Covid-related protections that once shielded businesses are subsiding.

Restructuring Insolvency and Turnaround Association chair Kare Johnstone says the number of liquidations from the first quarter of 2023 is 265, up 29 percent from early 2022.

"While liquidations are on the increase, if we just have a look at that same period for pre-pandemic levels, we're actually still sitting at under the liquidations low at 31 percent."

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