Company liquidations on the decline

A total of 128 companies permanently shut their doors in South Africa in June, representing an 11.7% decline in company liquidations compared to the same month in 2022. According to data released by Statistics SA on Monday, the country has seen 802 liquidations so far this year, 14% less than in the same six-month period last year. Read: Liquidation applications against 12 Nova companies halted Most were voluntary , with over half initiated by companies and 45.31% by close corporations.

Normalisation According to Stats SA’s statistician general Risenga Maluleke, the downward trend of liquidations reported across most industries in the local economy this year could represent a rebalancing of trends following a volatile Covid-19 pandemic period which saw significant peaks in business liquidations.

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