Hospitality insolvencies surged in 2024
Hospitality Magazine
FEBRUARY 24, 2025
Hospitality insolvencies have surged by over 40 percent between December 2023 and December 2024, according to a new report from Equifax. The Equifax Quarterly Commercial Insights – December 2024 report found that the sector has also seen a spike in auto loan arrears rates, up 43 per cent since December 2023. Meanwhile, overall business credit applications decreased by 3.2 per cent.
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