FEWER companies were liquidated in September this year compared with the same month last year, Statistics SA data showed on Monday.
Stats SA data showed that 149 companies were liquidated compared with 151 in September last year. It was also an improvement on the 177 liquidations recorded in August.
Increased measures such as those in the new Companies Act which are aimed at aiding companies in distress before they close down is among measures that are helping reduce the number of companies that are failing.
The fewer liquidations were mainly seen in financing, insurance, real estate and business services with 20 fewer liquidations; manufacturing with five fewer liquidations; and transport, storage and communication with three fewer liquidations.
A "noteworthy" increase was recorded in the wholesale and retail trade, catering and accommodation industry, which recorded 24 more liquidations.
Liquidations decreased by 1.9% in the third quarter of 2015 compared with the third quarter of 2014.
The estimated number of insolvencies fell by 32.5% in August compared with a year ago.
A 21% decrease was estimated between the three months ended August 2014 and the three months ended August 2015.
There was a 13.3% decline in insolvencies in the first eight months of 2015 compared with the first eight months of 2014.
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Increased measures such as those in the new Companies Act which are aimed at aiding companies in distress before they close down is among measures that are helping reduce the number of companies that are failing.
The fewer liquidations were mainly seen in financing, insurance, real estate and business services with 20 fewer liquidations; manufacturing with five fewer liquidations; and transport, storage and communication with three fewer liquidations.
A "noteworthy" increase was recorded in the wholesale and retail trade, catering and accommodation industry, which recorded 24 more liquidations.
Liquidations decreased by 1.9% in the third quarter of 2015 compared with the third quarter of 2014.
The estimated number of insolvencies fell by 32.5% in August compared with a year ago.
A 21% decrease was estimated between the three months ended August 2014 and the three months ended August 2015.
There was a 13.3% decline in insolvencies in the first eight months of 2015 compared with the first eight months of 2014.
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