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Economic Troubles Plague Victoria: Business Failures and Mounting Debt
Alarming Rise in Business Closures
Recent data has cast a dark shadow over Victoria’s economic health, revealing a dramatic 48% increase in the number of businesses either collapsing or having a financial controller appointed over the past financial year. This surge amounts to more than 4,000 businesses shutting their doors, signaling a systemic crisis within the state’s economy. The figures, reported by the Sunday Herald Sun, underscore a troubling trend of economic decline and growing instability.