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Economy

Australia risks 'insolvency tsunami' when coronavirus aid ends

'October cliff' looms for weak businesses that were likely doomed before pandemic

A moratorium on insolvent trading appears to have allowed many Australian businesses to forge ahead, when they normally would have had to wind up their operations.   © Reuters
ERIC MEIJER, Contributing writer | Australia

SYDNEY -- Australia faces an "insolvency tsunami" when government handouts to help businesses cope with coronavirus restrictions expire on Sept. 29.

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