The number of businesses going under is still below pre-pandemic figures, but the rate is increasing.

A BWA Insolvency report has found there's been a 48 percent increase in formal insolvencies in the third quarter, compared to the second.

BWA Insolvency founder, Bryan Williams, says that pre-Covid 25-hundred businesses went under a year... it's currently about 15-hundred.

He told Mike Hosking that there's about to be a slew filing for insolvency, after Covid handouts propped up struggling businesses.

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