By Zuko Komisa
Nearly 2000 businesses and companies were liquidated in 2022.
1,907 enterprises and companies were dissolved for the entire year, which is down from 1,932 that had to close their doors in 2021.
Kaya Biz with Gugulethu Mfuphi spoke to Dr Eric Levenstein, who is the Director and Head of the Business Rescue, Restructuring and Insolvency practice at Werksmans Attorneys about how this happened.
LISTEN TO THE FULL CONVERSATION HERE:
According to Levenstein, many SMEs face a significant danger of going out of business in the first few months of the year due to ongoing load shedding and impending tariff increases, particularly small family firms that are less inclined to look into business rescue solutions.
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The most recent statistics on company liquidations in South Africa, published by Stats SA, shows that, despite an overall decrease in closures for the entire year, firm liquidations increased by over 30% in December 2022 compared to the same month the previous year.
In December 2022, there were 159 liquidations in South Africa, up 30.3% from December 2021, according to Stats SA.
Finance, insurance, real estate, and business services accounted for the majority of shuttered companies in the nation, followed by retail, catering, and lodging.



