A steep increase in corporate failures is expected in the coming weeks as debt holidays introduced during COVID-19 come to an end.

In December there were 46 company liquidations and five administrations across Queensland with high profile closures including national lingerie retailer Big Girls Don't Cry (Anymore), Noosa eatery Madmegs & Co and a key player in the job training sector Job Coaching Australia.

Revive Financial partner Jarvis Archer said a buyer had been found for the Big Girls brand but with the Federal Government's temporary relief from bankruptcy notices, statutory demands and insolvent trading ending on January 1, the next month would see businesses facing different circumstances.

"These changes coincided with the rolling back of rent relief, other government stimulus measures and the Australian Taxation Office recommencing action to recover tax debts," said Mr Archer.

Mr Archer said the reversion of the laws meant that debts could now be pursued against both companies and individuals.

"Debt collectors and solicitors have indicated they have a number of statutory demands to recover outstanding debts at the earliest opportunity," he said.

A statutory demand gives a company 21 days to pay an outstanding debt otherwise the creditor can file a winding up application with the court.

"This means that three to four weeks into January there may be a wave of winding up applications filed against companies," he said.

"Importantly a business with tax debts will need to enter into a payment plan with the ATO. If it is unable to agree to such a plan it will need to consider its insolvency options."

Mr Archer said that while there had been 3000 fewer insolvencies since March 2020, companies that would have ordinarily had a liquidator or administrator appointed were still expected to require an insolvency appointment

"This is on top of insolvencies returning to normal annual numbers of approximately 8000," he said. "It means a steep increase in insolvencies is expected though those most at risk were probably struggling at the beginning of COVID anyway."

Mr Archer said that while industries such as construction and transport had experienced strong trading other sectors such as tourism and hospitality were more vulnerable.

QLD companies in liquidation in December

Quadra Pacific (Aust.) Corp. Pty Ltd

ACN:060 599 420

Compact Services Queensland Pty Ltd (In Liquidation)

ACN: 120 906 354

Belocal Today Australia Pty Ltd

ACN: 626 145 659

Cairns Auto Worx Pty Ltd (In Liquidation)

ACN:607 594 883

Top Plaster Pty Ltd

ACN:140 524 714

Isup Pty Ltd (In Liquidation) trading as The Computer Market

ACN:129 270 686

Zuess Communications Pty Ltd

ACN:619 754 193

Auspac Hospitality Management Pty Ltd

ACN:615 911 709

JOB COACHING AUSTRALIA PTY LTD

ACN:624 587 748

ELLJAY TRANZ PTY LTD

ACN:164 195 975

Ramaco Pty Ltd (In Liquidation)

ACN:134 340 551

CIS Plumbing Australia Pty Ltd

ACN:627 746 865

Abualtimman Services Pty Ltd

ACN:166 592 392

Airey Constructions Pty Ltd

ACN:162 617 487

Goodidja Productions Pty Ltd

ACN:151 798 275

Ambon Pty. Ltd.

ACN:009 792 563

ATMR Holdings (Aust) Pty Ltd

ACN:146 183 128

Ghostgum Investments Company Pty Ltd

ACN:164 359 139

JELLYB PTY LTD trading as Formerly Known as 'Coutis International Pty Ltd'

ACN:600 816 224

A.C.N. 605 014 337 PTY LTD (formerly Ready 24 Gym Pty Ltd)

ACN:605 014 337

CTR Rentals Pty Ltd (In Liquidation)

ACN:010 413 215

A To Z Motor Parts Pty Ltd

ACN:130 537 576

Selling 4 U Pty Ltd (In Liquidation)

ACN:115 073 713

LTL Enterprise Pty Ltd

ACN:105 438 560

Vlushe Cosmetics Pty Ltd trading as "Vlushe The Cosmetic Label" and "Vlushe Cosmetics & Blowdry Lounge"

ACN:621 668 559

Decretum Pty Ltd trading as Cairns Dive Centre

ACN:010 881 348

IRONBARK LUMBER COMPANY PTY LTD

ACN:120 338 481

TAG CQ PTY LTD

ACN:616 156 293

TKD PTY LTD

ACN:159 983 196

WAN CHIAHSING BUILDING CONSULTANTS PTY. LTD. trading as Mongolian King BBQ Restaurant

ACN:056 472 390

Memora Projects Pty. Ltd.

ACN:610 146 837

TACKERS FOUNDATION LIMITED

ACN:099 078 574

Redlands Auto Electrical Pty. Ltd.

ACN:010 903 527

Ashe Group Pty Ltd

ACN:620 556 514

BIG GIRLS DON'T CRY (ANYMORE) PTY. LTD.

ACN:060 578 707

Queensland Demolition and Civil Pty Ltd

ACN:629 711 502

FORMWORK SOLUTIONS QLD PTY LTD (IN LIQUIDATION)

ACN:637 566 968

MADMEGS & CO PTY LTD trading as MADMEGS & CO

ACN:612 185 289

SG PROJECTS (QLD) PTY LTD (IN LIQUIDATION)

ACN:615 730 982

MJ Energy Pty Ltd

ACN:168 736 150

Besst Recruitment Pty Ltd

ACN:626 210 222

ACN 122 788 452 Pty Ltd (In Liquidation)

ACN:122 788 452

CHI MC PTY LTD trading as Chi Mc Restaurant and Bar

ACN:611 390 857

MOLLISON QLD PTY LTD trading as The Burrow

ACN:612 381 263

Contented Chef Pty Ltd

ACN:604 822 693

613157412 Pty Ltd

ACN:613 157 412

QLD companies in administration in December

Hennock & Sons Pty Ltd

ACN:133 085 319

Vernons Electrical & Renovations Pty Ltd

ACN:142 077 227

ICRA Rolleston Pty Ltd

ACN:106 260 600

Precision Mining and Drilling Holdings Pty Ltd

ACN:161 952 361

Watjico New Pty Ltd (Administrator Appointed)

ACN:620 647 029

Originally published as Month of misery as QLD restaurants, retailers fail