Bankruptcies increase
PA Wellington Almost twice as many managerial workers went bankrupt last year as in 1977, according to Statistics Department figures just released. Last year's figure was 21, compared with 11 in 1977.
Professional and technical workers also faced a deteriorating financial year. Bankruptcies in this occupational sector were 17, compared with four in 1977.
There was a total of 507 bankruptcies last year against 419 in 1977. The figure was more than double the 250 of 1974. Factory workers, transport equipment operators, and labourers accounted for 242 of the 507 bankruptcies last year.
Sales workers numbered 67. farmers, fishermen, forestry workers and hunters, 66, and unemployed persons, 59. Clerical workers had the lowest number of bankruptcies, only eight being recorded. Average debts proved per bankruptcy last year were $22,066, compared with's22,9o3 in 1977. Company liquidations dealt with by official assignees totalled 285, compared with 207 in 1977, and only 74 in 1974. The amount of debts proved in the 285 liquidations totalled $11.61 million, compared with $10.21 million in 1977. Retailers, wholesalers, restaurants, and hotels accounted for 93 liquida-
tions, construction companies for 67, and manufacturing companies for 58.
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Press, 18 July 1979, Page 4
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191Bankruptcies increase Press, 18 July 1979, Page 4
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