commerce Liquidations down 10.8%

Slightly fewer companies closed down last month than in December 2010, Statistics SA said yesterday. “The number of liquidations for December 2011 reflected a decrease of 0.6 percent from 325 to 323 compared with December 2010,” the agency reported. The number of liquidations for 2011 decreased 10.8 percent year on year to 3 559. This fall was due to a 14.3 percent drop in voluntary liquidations, Stats SA said. The total number of insolvencies of individuals and partnerships for the first 11 months of 2011 decreased by 30 percent year on year to 2 584, Stats SA announced. For the month of November last year, insolvencies decreased 17.3 percent from November 2010 to 277. – Sapa Source