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Company liquidations decrease by 35.6% year-on-year


 The number of companies that closed in September was significantly lower than the same month last year.

Statistics SA says the total number of liquidations decreased by 35.6% year-on-year.

It says there were 45 fewer compulsory liquidations and 39 fewer voluntary liquidations during the period.

The number of liquidations recorded in the third quarter of 2013 decreased by 12%, compared with the same time last year.

Liquidation is the winding up of a company or close corporation when its liabilities exceed its assets.