South Africa reported a sharp rise in liquidations in Q3 2020 as the coronavirus lockdown continues to have an impact on businesses, new StatsSA data shows.
The total number of liquidations increased by 27.4% in the third quarter of 2020 compared with the third quarter of 2019. A year-on-year increase of 54% was recorded in September 2020.
A total of 1,395 liquidations have been recorded from 1 January – September, with the financing, insurance, real estate, business services industry reporting the most cases (428).
It was followed by unclassified businesses (416 cases) and the trade,…