Liquidations skyrocket as economy crawls
In the first third of 2019, insolvencies rose by 10% suggesting businesses are struggling to stay afloat
The total number of liquidations recorded in SA went up by more than half in April , as more companies lost their battle with a South African economy that is barely growing. The number of liquidations rose 53.1%, following declines of 12.6% year-on-year and 9.6% in February and March, respectively.
The vast majority or 88% of liquidation cases year-to-date were voluntary, with most taking place in the financing, insurance, real estate and business services segments, followed by the trade, catering and accommodation sectors, Investec economist Lara Hodes said...