Gumshoe Research · July 2026

The Phoenix Index

Phoenixing costs Australia up to $5 billion a year. It's a director-level behaviour — but it leaves company-level fingerprints on the public register. We measured them across all 3.85 million registered companies. No company is named here, and none of these figures alleges wrongdoing by anyone — see the methodology.

920company names deregistered & re-registered by a different company since 2020 (conservative proxy count)
1 in 55companies currently in external administration or strike-off (1.8%)
10.2 yrsmedian age of a company under external administration — older than the 7.9-yr register median
the national distress rate in the highest-risk postcodes

Names that died and came back

Since January 2020, 920 distinct company names show a resurrection signature: one company deregistered, a different company with the same normalised name registered within −3 to +12 months. The raw match was 1,333; we excluded shelf-company renames, trustee/super succession, and generic short names, and we publish the result as a proxy — the residue still contains legitimate restructures. What survives clusters in transport, cleaning, logistics and construction-adjacent services — the sectors regulators consistently name in illegal-phoenixing enforcement.

If a supplier's trading history belongs to a name rather than the ABN in front of you, verify the ABN — the name's history may be one register event from belonging to someone else.

Distress rate by state

Share of register companies in external administration or strike-off, by registered state. The band is narrow — geography matters at postcode level, not state level.

The postcode picture

Highest distressed-company shares among postcodes with ≥2,000 register companies. Registered address ≠ trading address: CBD-fringe leaders are largely registered-agent clusters, which tells you about a company's accountant, not its operations. The more telling rows are the outer-suburban and regional trading postcodes.

PostcodeAreaDistressed shareCompanies affectedReading
3008Docklands VIC4.2% vs 1.8% national189agent-address cluster
2015Alexandria NSW4.2% vs 1.8% national180agent-address cluster
2150Parramatta NSW4.0% vs 1.8% national354mixed
2161Guildford NSW3.9% vs 1.8% national165trading-suburb signal
2142Granville NSW3.8% vs 1.8% national144trading-suburb signal
2190Bankstown area NSW3.8% vs 1.8% national178trading-suburb signal
3004St Kilda Rd VIC3.8% vs 1.8% national292agent-address cluster
3630Shepparton VIC3.8% vs 1.8% national96regional signal

Old companies fail formally; young ones just disappear

The median company under external administration is 10.2 years old — older than the register median of 7.9. Administration is the endgame of established companies with creditors worth pursuing; young companies exit by quiet strike-off instead. The uncomfortable implication for procurement: supplier age is weaker protection than it feels, and it's the decade-old supplier whose failure will be formal, contested, and expensive — with preference-payment clawback under s588FA reaching back into invoices you already paid.

Methodology & limitations

ASIC company register bulk data (3,854,624 companies) and ABR extract, snapshot 9 July 2026. Name matching uses normalised names (suffixes stripped) across different ACNs; exclusions: ACN-as-name shelf companies, FAMILY/SUPER entities, names under 6 characters, same-ACN reinstatements. No director-level data is used and no finding identifies any company or person. The resurrection figure is a proxy that includes legitimate restructures. Geographic figures reflect registered addresses. Full methodology in the written report — media@gumshoe.au for the data tables.

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