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Insolvencies ease as recovery sets in

Jan 24 2011 15:47 I-Net Bridge

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Johannesburg - The total number of liquidations in December 2010 decreased by 14.9% year-on-year (y/y) to 325 from 382, after falling 29.4% y/y in November, Statistics South Africa data showed on Monday.

The total number of liquidations for 2010 went down by 3.4% to 3 992 from 4 133 in 2009.

The 3.4% drop in the total number of liquidations was due to decreases of 3.7% in compulsory liquidations and 3.4% in voluntary liquidations.

Close corporation liquidations slipped 8.5% while company liquidations went up by 2.6%.

The highest numbers of liquidations in 2010 were related to businesses in the financing, insurance, real estate, business services industry, wholesale and retail trade, catering and accommodation industry.

The total number of insolvencies for the first 11 months of 2010 fell by 32.2% to 3 544 from 5 229, compared with the same period in 2009.
 
businesses  |  liquidations  |  sa economy
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