As of 2022, the finance, insurance, real estate, and business services industry presented the highest amount of liquidations in South Africa. A total of 629 liquidations was reported in this industry, the majority of which chose to voluntarily liquidate. This represents a slight increase from the previous year's results which reported that the total number of liquidations was 625.
Number of liquidations in South Africa in 2022, by industry and type
Compulsory liquidation is a procedure where the assets of a company/close corporation are sold to pay off creditors. The residual assets will then be distributed between the shareholders and finally, the company will be closed.
Voluntary liquidation occurs when the shareholders of a company/close corporation decide to close the company on their own terms after passing a special resolution undertaking that the company/close corporation is to be liquidated.
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Statistics South Africa. (February 27, 2023). Number of liquidations in South Africa in 2022, by industry and type [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/
Statistics South Africa. "Number of liquidations in South Africa in 2022, by industry and type." Chart. February 27, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/
Statistics South Africa. (2023). Number of liquidations in South Africa in 2022, by industry and type. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/
Statistics South Africa. "Number of Liquidations in South Africa in 2022, by Industry and Type." Statista, Statista Inc., 27 Feb 2023, https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/
Statistics South Africa, Number of liquidations in South Africa in 2022, by industry and type Statista, https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/ (last visited November 21, 2024)
Number of liquidations in South Africa in 2022, by industry and type [Graph], Statistics South Africa, February 27, 2023. [Online]. Available: https://www.statista.com/statistics/1116871/number-of-liquidations-by-industry-and-type-in-south-africa/
