NZ Liquidations Hit 15-Year High as IRD Crackdown Triggers Insolvency Boom for Law Firms

Brent Norling

The numbers don’t lie — and right now they’re lighting up the insolvency and restructuring sector like a Christmas tree.

New data confirms 2,867 companies entered liquidation in 2025 — the highest annual total since 2010 and the fourth-highest in 25 years.

Centrix puts the figure at 2,934, while broader formal appointments (liquidations + receiverships + voluntary administrations) reached 3,080–3,132 — up 11–12% on 2024 and the highest level since the Global Financial Crisis.

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