Warning for businesses in South Africa as liquidations soar.
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Business liquidations soared 44.8% in the year to August 2022, data from StatsSA showed, while fewer businesses entered business rescue in a clear sign that many are assessing their financial positions too late.
This is according to Eric Levenstein, director and head of the Business Rescue, Restructuring and Insolvency practice at Werksmans Attorneys, who said: “Even though 2022 is far from over, there are significantly fewer new business rescue proceedings so far this year compared to last year.
This is according to Eric Levenstein, director and head of the Business Rescue, Restructuring and Insolvency practice at Werksmans Attorneys, who said: “Even though 2022 is far from over, there are significantly fewer new business rescue proceedings so far this year compared to last year.
