It's not only state owned entities that are facing major business troubles.
New data from Stats SA shows that The number of liquidations has increased by 10,7% in 2019 compared with 2018.
Company liquidations increased by 11,0% (from 972 to 1 079) and close corporation liquidations increased by 10,3% (from 873 to 963) between 2018 and 2019.
At the same time, The estimated number of insolvencies increased by 14,5% in the three months ended November 2019 compared with the three months ended November 2018.
A 6,7% increase was estimated in November 2019 compared with November 2018.
Insolvency can be considered a financial “state of being”, when a company is unable to pay its debts or when it has more liabilities than assets on its balance sheet, this being legally referred to as “technical insolvency”.
Liquidation is the legal ending of a limited company