Liquidations decrease, says Stats SA

Cape Town - The number of liquidations has decreased by 12% year-on-year, Statistics SA announced on Monday.

"The number of liquidations decreased by 11.9% in the three months ended October 2014 compared with the three months ended October 2013," Stats SA's latest preliminary report said.

"There was a year-on-year decrease of 12.0% [23 fewer liquidations] in October 2014.

The wholesale, retail trade, catering and accommodation sector saw the largest year-on-year decrease. Eleven fewer liquidations happened in this sector.

"The estimated number of insolvencies increased by 7.4% year-on-year in September 2014, following six consecutive negative year-on-year growth rates," said Stats SA.

"There was a decrease of 5.1% in the first nine months of 2014 compared with the first nine months of 2013."