New Zealand saw a 14-year high in business liquidations in October 2025, driven by financial pressures and weak recovery.

New Zealand's business liquidations hit a 14-year high in October 2025, with 327 firms closing, driven by ongoing financial pressures including rising costs, tight cashflow, and a slow post-inflation recovery. The construction and hospitality sectors were hardest hit, with construction recording 753 liquidations over the past year and hospitality up 45% year-on-year. Despite improving business and consumer confidence, small and medium enterprises across manufacturing, retail, and services continue to struggle. Buy NZ Made warns that liquidations erode local jobs, capabilities, and supply chains, urging consumers and procurement teams to prioritize locally made goods to strengthen economic resilience. The trend reflects deeper structural challenges, with insolvency activity projected to persist through mid-2026.