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The Department of Trade and Industry (Dti) is gearing up for a shift in South African business as a result of the recent disaster in Japan.

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Company Liquidations Increase, Insolvencies Decline from Last Year

| News by Staff Reporter

Statistics SA said on Monday 26 June that for the first six months of 2010 the total number of liquidations increased by 5,8 percent compared with the first six months of 2009.

The statistics company said that for the first half of this year the total number of liquidations increased from 1 951 to 2 065 compared to the same period in 2009, while month-on-month for June the total number of insolvencies increased by 21,9 percent, from 311 in 2009 to 379 in 2010.

The total number of insolvencies for the first five months of 2010, compared to the same period last year, decreased by 24,0 percent (from 2 049 to 1 558), while the estimated number of insolvencies for May 2010 decreased by 26,8 percent (from 542 to 379) compared with May last year.

Source: www.bizpremises.co.za