Johannesburg - Fewer companies closed down in September 2011 compared to the same month last year, Statistics SA said on Monday.
"The number of liquidations reflected a year-on-year decrease of 3.2% (from 341 to 330) in September 2011," the agency reported.
Stats SA said liquidations took place when the affairs of a company or close corporation were wound up because its liabilities exceeded its assets, and the matter was resolved either voluntarily or by a court order.
The number of liquidations for the first nine months of 2011 fell 15.5% year-on-year - from 2930 to 2475.
"This decline was due to a 16.2% drop in voluntary liquidations and a 5.5% drop in compulsory liquidations," Stats SA said.
Over this time, company liquidations declined 16.7% - from 1364 to 1136 - and close corporation liquidations were down 14.5% - from 1566 to 1339.
Insolvencies - where an individual or partnership is unable to pay debt and is placed under final sequestration - declined in August, Stats SA said.
Insolvency figures are issued a month later than liquidation figures.
"A year-on-year decrease of 27.8% (from 352 to 254) was estimated for August 2011," Stats SA said.
The total number of insolvencies for the first eight months of 2011 decreased by - 33.8% from 2642 to 1750 - compared with the first eight months of 2010.
"The number of liquidations reflected a year-on-year decrease of 3.2% (from 341 to 330) in September 2011," the agency reported.
Stats SA said liquidations took place when the affairs of a company or close corporation were wound up because its liabilities exceeded its assets, and the matter was resolved either voluntarily or by a court order.
The number of liquidations for the first nine months of 2011 fell 15.5% year-on-year - from 2930 to 2475.
"This decline was due to a 16.2% drop in voluntary liquidations and a 5.5% drop in compulsory liquidations," Stats SA said.
Over this time, company liquidations declined 16.7% - from 1364 to 1136 - and close corporation liquidations were down 14.5% - from 1566 to 1339.
Insolvencies - where an individual or partnership is unable to pay debt and is placed under final sequestration - declined in August, Stats SA said.
Insolvency figures are issued a month later than liquidation figures.
"A year-on-year decrease of 27.8% (from 352 to 254) was estimated for August 2011," Stats SA said.
The total number of insolvencies for the first eight months of 2011 decreased by - 33.8% from 2642 to 1750 - compared with the first eight months of 2010.