Businesses see a drop in liquidations, insolvencies

During the first six months of 2015, the number of liquidations reflected a year-on-year decrease of 7.8%, Statistics SA said on Monday.

The total number of liquidations recorded decreased by 20,6% (41 fewer cases) year-on-year in June 2015.

The largest year-on-year decreases in total liquidations in June 2015 related to businesses in the financing, insurance, real estate and business services industry (31 fewer liquidations) and the wholesale and retail trade, catering and accommodation industry (18 fewer liquidations).

Compulsory liquidations decreased by 60 cases and voluntary liquidations increased by 19 cases.

Closed corporation liquidations decreased by 9,5% (from 538 to 487) and company liquidations decreased by 6,1% (from 540 to 507) during this period.

The estimated number of insolvencies decreased by 5,7% year-on-year in May 2015. A 6,5% decrease was estimated between the three months ended May 2014 and the three months ended May 2015.

There was a decrease of 7,8% in the first five months of 2015 compared with the first five months of 2014.

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