200 Australian companies, 219 events: insolvency and employment in September 2026

Across the Australian market we track, 200 companies logged 219 insolvency and employment events in September 2026. Of these, 198 were restructurings and 21 were layoffs. The month closed on failures. On 30 September Paradigm Biopharma called in voluntary administrators after its PAR_012 osteoarthritis candidate failed in trial (HotCopper ASX news). Two days earlier, an auditor had raised going concern doubt about Battery Age Minerals (GN, ASX:BM8).

Listed credit moved hardest. On 28 September Metrics Credit Partners suspended trading in three ASX-listed vehicles after audit-driven changes by KPMG cut net tangible asset values by as much as 12.16%. The cuts reflected revalued commercial real estate and higher loan loss provisions (Private Equity Wire). On 30 September Perpetual, responsible entity for two Metrics funds, suspended their distribution reinvestment plans (Private Equity Wire).

Property and retail followed. Garda Property Group sold its Pinkenba industrial site in Brisbane for $33.25 million after its tenant went into administration and then liquidation, and put $32.9m towards debt (Real Estate Source). On 29 September AVID Property Group withdrew from the Eyre estate in Adelaide after delivering about 750 of 1,900 planned homes, and handed control back to Renewal SA (Real Estate Source). Shane Wingard, chief executive of Renewal SA, said “Our team is experienced in facilitating housing delivery in the northern suburbs and we are confident we can bridge any gaps and maintain momentum on the project while a long-term strategy for the site is determined”. Smiggle is cutting its store network from 309 to 268 (Inside Retail AU).

On 28 September Woolworths confirmed a plan to relocate 130 jobs to Australia (GN, ASX:WOW). Cooper Investors is shutting six funds. The overhaul has brought headcount cuts and the exit of key portfolio managers (Australian Financial Review). Cochlear faces a shareholder class action over a 2026 profit forecast (GN, ASX:COH). Crown Resorts is suing its insurer RiverStone International to recover the costs of an A$72.5M settlement (Casino.org News).

Insolvency and employment demand lands first on the restructuring and insolvency partners of Australian law firms. The 198 restructuring events include voluntary administrations such as Paradigm Biopharma, and secured lender work where a tenant's failure forces a sale, as at Garda Property Group.

The Metrics suspensions create work for funds lawyers advising responsible entities on disclosure and unitholder rights, and for litigators weighing claims. Cochlear and Crown Resorts show the class action and insurance recovery work that follows a revaluation or a governance failure.

The 21 layoffs land with employment teams. Redundancy and consultation advice follows moves such as the 130 Woolworths roles and the Cooper Investors cuts. For a firm's business development team, these are client boards that need both practices at once. The insolvency matter and the employment matter often share a client.