Some good news for businesses in South Africa
New data from 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.