Business liquidations and insolvencies continue to rise, according to Stats SA data released on Monday, underscoring an economy that is struggling to grow and facing business confidence at record lows.
The estimated number of insolvencies for July 2019 grew 79.7% as compared with July 2018. In the three months ended July, estimated insolvencies grew by 35.9%.easonally adjusted insolvencies increased by 32.9% in July 2019 compared with June 2019. This followed month-on-month changes of 14.3% in June 2019 and 21.4% in May 2019.
This was followed by liquidations of firms not classified into a sector, with 347 liquidations, and liquidations in the trade catering and accommodation sector of 322. The majority, about 88%, were voluntary liquidations.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thomas Cook CEO on liquidation: 'I apologise' - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Peter Fankhauser, the chief executive of Thomas Cook, apologised on Monday for the liquidation of the world's oldest travel company, which left thousands of passengers stranded around the globe.
Source: SABC News Online - 🏆 32. / 51 Read more »
SA student presents Weather App at UN Summit - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South African meteorology student Brighton Mabasa has impressed world leaders at the UN Climate Summit with a mobile app geared at fighting climate change issues in rural areas. READ HERE: UNGA ClimateActionSummit sabcnews environmentza BarbaraCreecy_ MiWeather App was developed/aimed at assisting small scale farmers to adjust to changing weather patterns and changes the way farmers think and deal with challenges possed by climate change.
Source: SABC News Online - 🏆 32. / 51 Read more »