30 January 2020 – The number of liquidations in South Africa increased by 10.7 percent in 2019 compared with 2018, the national statistics agency has said.
The sharp rise follows annual declines in liquidations in the two previous years, Statistics South Africa said in a report released on Tuesday.
Company liquidations were up 11 percent to 1 079, while close corporation liquidations rose 10.3 percent to 963.
Stats SA collects administrative information on liquidations from the Companies and Intellectual Property Commission and the trade and industry department while information on insolvencies is gathered from High Court notices.
The private and public sectors use the aggregated data to measure economic performance and the numbers are also an important indicator of the scope of unpaid debt in South Africa. Source (African News Agency)