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Insolvencies set to rise

Insolvencies may get worse before they get better, according to the Canberra Business Council.

Canberra Business Council CEO Chris Faulks says ACT company insolvencies are expected to rise sharply next year when government budgets are tightened.

Faulks predicts ACT businesses will be hit hard in the years to come. Already the number of court ordered liquidations has risen from 19 in 2007-2008 to 24 this year, while voluntary liquidations went up from 43 to 50 over the same period.

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