WCT Advisory strengthens restructuring capability as insolvencies surge across Australia
- Written by: Times Media
Queensland restructuring and insolvency firm WCT Advisory has appointed highly regarded restructuring and insolvency specialist Cameron Crichton as demand for turnaround and restructuring expertise
The appointment comes as corporate insolvencies across Australia continue to accelerate, with ASIC data showing external administration and controller appointments remained near record post-pandemic highs through to 30 April 2026. Construction continues to account for the largest share of insolvencies nationally, while Queensland has emerged as one of the country’s most active restructuring markets, driven by sustained pressure across construction, hospitality, retail and property-related sectors.1
Queensland has experienced a sharp rise in corporate distress over the past 12 months, with insolvency practitioners pointing to increasing ATO recovery action, elevated labour and insurance costs, subcontractor failures and tighter funding conditions as major drivers. Recent Queensland collapses, including several construction and property-linked businesses across Brisbane and the Gold Coast, have reinforced concerns that restructuring activity will remain elevated throughout 2026.1
Recent insolvencies across Queensland’s construction and events sectors have highlighted the increasing financial pressures facing businesses reliant on discretionary spending, property development and tight-margin contracting models. Industry observers expect formal restructures, safe harbour appointments and turnaround engagements to remain elevated as financiers and creditors adopt a more cautious approach to risk in 2026.
Mr Crichton joins WCT Advisory following more than 20 years in the profession, including seven years as a partner at a national accounting firm. A Registered Liquidator, he is widely recognised for advising distressed businesses across construction, property and mid-market sectors.
He has acted on several significant restructuring and insolvency engagements throughout his career, including as Liquidator of the Porter Davis Group, one of Australia’s largest residential building collapses. He has also advised construction businesses ranging from SMEs through to organisations with annual turnover exceeding $1 billion.
WCT Advisory Partner Andrew Weatherley said the appointment reflected both the continued growth of the firm and rapidly changing conditions across the Australian economy.
“We are seeing rising demand for commercially focused restructuring and advisory support across Queensland, particularly from businesses facing margin pressure, funding constraints and increasing stakeholder scrutiny,” Mr Weatherley said.
“Construction, hospitality and retail businesses remain under significant pressure, while tightening lending conditions and more active creditor enforcement are exposing businesses that were previously sustained by low-cost debt and COVID-era support measures.”
Mr Weatherley said global instability was also contributing to difficult operating conditions.
“Persistent inflation, elevated funding costs, geopolitical uncertainty and supply chain disruption continue to impact Australian businesses,” he said. “While some market conditions may improve over time, we expect many businesses will continue facing pressure for an extended period, particularly those carrying legacy debt or operating in sectors undergoing structural change.
“Emerging technologies, including artificial intelligence, are also likely to create disruption across parts of the technology and professional services sectors. These changes are likely to accelerate restructuring activity in industries where businesses are struggling to adapt operating models or maintain profitability.”
Mr Crichton said the move to WCT Advisory was driven by the opportunity to join a growing specialist firm that shared his strong reputation for practical and solutions-focused advice.
“WCT Advisory has built a reputation in the market for being commercial, responsive and genuinely focused on outcomes for clients and stakeholders,” he said. “Their hands-on approach and specialist focus strongly appealed to me, particularly at a time when businesses increasingly need pragmatic restructuring and turnaround support.
“Businesses today need advisers who can move quickly, work collaboratively with stakeholders and develop practical solutions in often difficult trading conditions,” stated Mr Crichton.
Founded in July 2019, WCT Advisory has continued to expand its presence across Queensland and South Australia providing restructuring, insolvency and business advisory services to businesses, financiers, accountants and legal advisers.
