Oz firms going bust in record number

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A record number of Australian companies went bust in April.

Some 941 firms were put under administration, marking the highest monthly tally since records were first made public in 1999.

Creditor wind-ups increased by 8 per cent as voluntary administrations climbed by 16 per cent during April, an FTI Consulting analysis of Australian Securities and Investments Commission data found.

Insolvency levels rose in Victoria and Queensland but fell or remained steady elsewhere.

Almost 3450 companies have gone into administration so far this year, compared with 3524 during the same period in 2012.

But the number is higher than the opening four months of 2008 to 2011, which included the global financial crisis.