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Johannesburg - The total number of liquidations recorded for September 2010 decreased by 2.1% year-on-year (y/y) after they decreased 8% y/y in August, from 334 to 341, Statistics South Africa data showed on Monday.
The total number of liquidations recorded for the first nine months of 2010 decreased by 1.6% (from 2 977 to 2 930) compared with the first nine months of 2009.
The 1.6% decrease in the total number of liquidations for the first nine months of 2010 was due to a decrease of 31.7% in compulsory liquidations (from 265 to 181). During this period close corporation liquidations decreased by 3.0% (from 1 615 to 1 566) while company liquidations increased by 0.1% (from 1 362 to 1 364).
The highest numbers of liquidations during the first nine months of 2010 were related to businesses in the financing, insurance, real estate and business services' industry (1 322 cases or 45.1% of liquidations) and the wholesale and retail trade, catering and accommodation' industry (874 cases or 29.8% of liquidations).
Of concern, insolvencies dropped –47.2% in August from -34.5% y/y in July.
The total number of liquidations recorded for the first nine months of 2010 decreased by 1.6% (from 2 977 to 2 930) compared with the first nine months of 2009.
The 1.6% decrease in the total number of liquidations for the first nine months of 2010 was due to a decrease of 31.7% in compulsory liquidations (from 265 to 181). During this period close corporation liquidations decreased by 3.0% (from 1 615 to 1 566) while company liquidations increased by 0.1% (from 1 362 to 1 364).
The highest numbers of liquidations during the first nine months of 2010 were related to businesses in the financing, insurance, real estate and business services' industry (1 322 cases or 45.1% of liquidations) and the wholesale and retail trade, catering and accommodation' industry (874 cases or 29.8% of liquidations).
Of concern, insolvencies dropped –47.2% in August from -34.5% y/y in July.
