Some good news for businesses in South Africa (BT)

New data from Statistics South Africa (Stats SA) shows that the total number of liquidations in April decreased by 12.7% compared to a year ago. Voluntary liquidations decreased by 29 cases, while compulsory liquidations increased by nine cases, it said. Liquidation refers to the winding-up of the affairs of a company or close corporation when liabilities exceed assets and it can be resolved by voluntary action or by an order of the court. According to Stats SA, the total number of liquidations decreased by 11.0% in the first four months of 2022 compared with the first four months of 2021. The data also showed that between January and April 2022, there were a total of 600 liquidations – 74 fewer than last year. Click here to read full article