Personal insolvency statistics from across Australia recorded in the March quarter.
Personal insolvency statistics from across Australia recorded in the March quarter. AFSA

REVEALED: Coffs leads falling business bankruptcy rates

COFFS Harbour was the leading contributor to a fall in the number of debtors who entered business related bankruptcy outside of Sydney this March quarter.

The latest statistics released by the Australian Financial Security Authority revealed the number of business related bankruptcies fell by 10.7%.

The overall number of debtors outside of Sydney increased by 1.9%.

In the 2016 December quarter, Coffs Harbour and Tweed Valley had the joint highest number of business related insolvencies outside of Sydney, recording eight cases each.

The number of business bankruptcies in Coffs fell to three in the March quarter while Tweed Valley decreased to seven.

However, non-business related bankruptcies did rise in Coffs with 29 cases recorded in the March quarter compared with 27 in December.

This brought the total number of debtors in Coffs Harbour to 32.

Kempsey - Nambucca recorded nine debtors in the March quarter. There were 15 cases of bankruptcy recorded in Kempsey - Nambucca in the December quarter.

A state by state comparison of Australia's insolvency rates.
A state by state comparison of Australia's insolvency rates. AFSA

In Greater Sydney there was an 8.6% rise in the number of business related insolvencies, with the main contributors being Wyong (14) and Penrith (9).

Wyong also recorded the highest number of personal debtors in the March quarter with 65 cases. It was the leading contributor to the 11% increase in debtors within Greater Sydney.