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Furthermore, the total number of liquidations recorded for the seven months ended July increased by 11.5% (from 1 571 to 1 752) whencompared with the seven months ended July 2007.
The increase of 11.5% in the total number of liquidations for the seven months ended July was due to increases of 52.3% incompulsory liquidations (from 107 to 163) and 8.5% in voluntary liquidations (from 1 464 to 1 589), Statistics SA said in a statement.
During this period, 31.4% more close corporations were liquidated, with company liquidations decreasing by 5.7%.
Statistics SA added that the total number of insolvencies recorded for June increased by 31,8 percent (from 154 to 203) when compared with June 2007.
Furthermore, the total number of insolvencies recorded for the six months ended June 2008 increased by 37.2% (from 901 to 1236) compared with the six months ended June 2007.
