South Africa recorded 183 business liquidations in July 2019, representing a 24.5% rise from 147 liquidations recorded a year ago, according to StatsSA.
The stats body said that 1,198 liquidations were recorded so far this year (January to July), higher than the 1,054 recorded in the same period last year.
The report found that the financing, insurance, real estate, business services sectors saw the most closures, followed by the trade, catering and accommodation sector.
Those in the financing, insurance, real estate and business services were most likely to file for insolvency in South Africa while those working in electricity, gas and water were the least likely to go insolvent.
The total number of liquidations increased by 13.7% during the first seven months of 2019 compared with the first seven months of 2018, StatsSA said.
The estimated number of insolvencies increased by 4.2% in the second quarter of 2019 compared with the se
Continue reading…