Johannesburg - The total number of liquidations in March
recorded a 14.6% year-on-year (y/y) decrease to 350 from 410, after increasing
21.6% y/y in February, Statistics SA data showed on Monday.
Liquidations recorded for the first quarter of 2011 increased
by 12.5% to 1 062 from 944 compared with the first quarter of 2010.
The 12.5% increase was due to a rise in voluntary
liquidations of which there were 80 more, and compulsory liquidations, of which
there were 38 more.
During this period, company liquidations increased by 15.2%,
to 500 from 434, and close corporation liquidations increased by 10.2%, to 562
The highest numbers of liquidations during the first quarter
of 2011 were related to businesses in the financing, insurance, real estate and
business services industry, with 374 cases or 35.2% of liquidations.
The wholesale and retail trade, catering and accommodation
industry had 271 cases or 25.5% of liquidations; and the community, social and
personal services industry had 210 cases or 19.8% of liquidations.
The total number of insolvencies decreased 30.4% y/y in
February, to 208 from 299.
The total number of insolvencies for the three
months ended February decreased by 31.3%, to 622 from 905, compared with the
same period in 2010.